Shares of Bharat Dynamics were trading higher in Wednesday's session, with the stock currently priced at Rs 1,515.90, a gain of 2.01% from the previous close, at 9:34 am. The stock is among the top gainers on the Nifty Midcap 150 index.
Bharat Dynamics' financial performance shows the following trends from the standalone income statement:
Sales: The company's sales for the year-ending March 2025 stood at Rs 3,345 Crore, compared to Rs 2,369 Crore in the year-ending March 2024, marking an increase.
Other Income: Other income increased from Rs 361 Crore in March 2024 to Rs 350 Crore in March 2025.
Total Income: The total income was Rs 3,695 Crore for the year-ending March 2025, up from Rs 2,731 Crore in the year-ending March 2024.
Total Expenditure: Total expenditure increased from Rs 1,899 Crore in March 2024 to Rs 2,943 Crore in March 2025.
EBIT: Earnings Before Interest and Tax (EBIT) decreased from Rs 831 Crore in March 2024 to Rs 752 Crore in March 2025.
Interest: Interest remained stable at Rs 3 Crore for both the years ending March 2025 and March 2024.
Tax: The tax expense decreased from Rs 215 Crore in March 2024 to Rs 199 Crore in March 2025.
Net Profit: The company’s net profit decreased from Rs 612 Crore in March 2024 to Rs 549 Crore in March 2025.
The quarterly income statement shows the following:
Sales: Sales for the quarter-ending June 2025 were Rs 247 Crore, a significant decrease compared to Rs 1,776 Crore for the quarter-ending March 2025.
Other Income: Other income decreased from Rs 99 Crore in March 2025 to Rs 86 Crore in June 2025.
Total Income: Total income decreased from Rs 1,876 Crore in March 2025 to Rs 334 Crore in June 2025.
Total Expenditure: Total expenditure decreased from Rs 1,497 Crore in March 2025 to Rs 310 Crore in June 2025.
EBIT: EBIT decreased significantly from Rs 378 Crore in March 2025 to Rs 23 Crore in June 2025.
Interest: Interest remained at Rs 0 Crore for both quarters.
Tax: Tax expenses decreased from Rs 105 Crore in March 2025 to Rs 4 Crore in June 2025.
Net Profit: Net profit decreased significantly from Rs 272 Crore in March 2025 to Rs 18 Crore in June 2025.
Cash Flow:
The cash flow statement provides the following insights:
Operating Activities: Cash flow from operating activities was Rs 167 Crore for the year-ending March 2025, a decrease from Rs 411 Crore in the year-ending March 2024.
Investing Activities: Cash flow from investing activities was -Rs 407 Crore for the year-ending March 2025, compared to -Rs 722 Crore in the year-ending March 2024.
Financing Activities: Cash flow from financing activities was -Rs 220 Crore for the year-ending March 2025, compared to -Rs 148 Crore in the year-ending March 2024.
Net Cash Flow: The net cash flow was -Rs 459 Crore for both the years ending March 2025 and March 2024.
Balance Sheet:
The balance sheet data reveals:
Share Capital: Share capital remained constant at Rs 183 Crore from March 2021 to March 2025.
Reserves & Surplus: Reserves and surplus increased from Rs 3,453 Crore in March 2024 to Rs 3,825 Crore in March 2025.
Current Liabilities: Current liabilities increased from Rs 3,005 Crore in March 2024 to Rs 4,360 Crore in March 2025.
Other Liabilities: Other liabilities decreased from Rs 3,697 Crore in March 2024 to Rs 3,373 Crore in March 2025.
Total Liabilities: Total liabilities increased from Rs 10,340 Crore in March 2024 to Rs 11,742 Crore in March 2025.
Fixed Assets: Fixed assets increased from Rs 896 Crore in March 2024 to Rs 1,087 Crore in March 2025.
Current Assets: Current assets increased from Rs 9,239 Crore in March 2024 to Rs 10,377 Crore in March 2025.
Other Assets: Other assets increased from Rs 204 Crore in March 2024 to Rs 277 Crore in March 2025.
Total Assets: Total assets increased from Rs 10,340 Crore in March 2024 to Rs 11,742 Crore in March 2025.
Contingent Liabilities: Contingent liabilities decreased from Rs 697 Crore in March 2024 to Rs 0 Crore in March 2025.
Financial Ratios:
Key financial ratios for Bharat Dynamics are as follows:
Basic EPS: Basic Earnings Per Share (EPS) stood at Rs 14.99 for March 2025, compared to Rs 33.43 for March 2024.
Diluted EPS: Diluted EPS was Rs 14.99 for March 2025, compared to Rs 33.43 for March 2024.
Book Value per Share: Book Value per Share was Rs 109.37 for March 2025, compared to Rs 198.43 for March 2024.
Dividend per Share: Dividend per Share was Rs 4.65 for March 2025, compared to Rs 10.55 for March 2024.
Face Value: Face Value was Rs 5 in March 2025, compared to Rs 10 in March 2024.
Gross Profit Margin: Gross Profit Margin was 24.59% for March 2025, compared to 37.91% for March 2024.
Operating Margin: Operating Margin was 22.48% for March 2025, compared to 35.08% for March 2024.
Net Profit Margin: Net Profit Margin was 16.43% for March 2025, compared to 25.86% for March 2024.
Return on Networth/Equity: Return on Networth/Equity was 13.71% for March 2025, compared to 16.84% for March 2024.
ROCE: ROCE was 10.18% for March 2025, compared to 11.33% for March 2024.
Return on Assets: Return on Assets was 4.68% for March 2025, compared to 5.92% for March 2024.
Current Ratio: Current Ratio was 2.38 for March 2025, compared to 3.07 for March 2024.
Quick Ratio: Quick Ratio was 1.77 for March 2025, compared to 2.41 for March 2024.
Debt to Equity: Debt to Equity remained at 0.00 for both March 2025 and March 2024.
Interest Coverage Ratio: Interest Coverage Ratio was 248.64 for March 2025, compared to 289.31 for March 2024.
Asset Turnover Ratio: Asset Turnover Ratio was 0.30 for March 2025, compared to 0.25 for March 2024.
Inventory Turnover Ratio: Inventory Turnover Ratio was 0.91 for March 2025, compared to 0.58 for March 2024.
3 Yr CAGR Sales: 3 Yr CAGR Sales was 8.96% for March 2025, compared to 11.27% for March 2024.
3 Yr CAGR Net Profit: 3 Yr CAGR Net Profit was 4.86% for March 2025, compared to 54.18% for March 2024.
P/E Ratio: P/E Ratio was 85.48 for March 2025, compared to 26.20 for March 2024.
P/B Ratio: P/B Ratio was 11.71 for March 2025, compared to 8.83 for March 2024.
EV/EBITDA: EV/EBITDA was 51.97 for March 2025, compared to 31.02 for March 2024.
P/S: P/S was 14.03 for March 2025, compared to 13.55 for March 2024.
Corporate Actions:
Bharat Dynamics Ltd has been actively involved in several corporate actions. The board of directors is scheduled to meet on August 12, 2025, to consider and approve the unaudited financial results for the quarter ended June 30, 2025. The company also announced its financial results for the quarter ended June 30, 2025, on August 12, 2025. Additionally, there was a newspaper publication related to IEPF (Investor Education and Protection Fund).
The company announced an interim dividend of Rs 4.00 per share (80%) on February 6, 2025. Further, the company had a stock split, with the old face value of Rs 10 split into a new face value of Rs 5. The ex-split date for this action was May 24, 2024.
Moneycontrol analysis on August 8, 2025, indicated a bearish sentiment on the stock.
With the stock's last traded price at Rs 1,515.90, Bharat Dynamics has seen a gain in early trade.
