Bharat Dynamics shares gained as much as 2.1% in Monday's morning trading session to a high of Rs 1,529. The stock was among the top gainers on the Nifty Midcap 150 index. However, the PSU defence stock gave up gains, and was trading at Rs 1,509 at 10.40 am, up 0.75% from the previous close.
Financial Snapshot:
The following table summarizes the key financial figures for Bharat Dynamics:
| Particulars | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
| Sales (Rs Crore) | Rs 3,345 | Rs 2,369 | Rs 2,489 | Rs 2,817 | Rs 1,913 |
| Other Income (Rs Crore) | Rs 350 | Rs 361 | Rs 155 | Rs 111 | Rs 94 |
| Total Income (Rs Crore) | Rs 3,695 | Rs 2,731 | Rs 2,644 | Rs 2,928 | Rs 2,008 |
| Total Expenditure (Rs Crore) | Rs 2,943 | Rs 1,899 | Rs 2,158 | Rs 2,215 | Rs 1,663 |
| EBIT (Rs Crore) | Rs 752 | Rs 831 | Rs 486 | Rs 713 | Rs 344 |
| Interest (Rs Crore) | Rs 3 | Rs 3 | Rs 4 | Rs 3 | Rs 3 |
| Tax (Rs Crore) | Rs 199 | Rs 215 | Rs 129 | Rs 209 | Rs 83 |
| Net Profit (Rs Crore) | Rs 549 | Rs 612 | Rs 352 | Rs 499 | Rs 257 |
The company's standalone annual 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. This represents an increase in sales. The net profit for the year-ending March 2025 was Rs 549 Crore, compared to Rs 612 Crore for the year-ending March 2024.
The following table presents the quarterly income statement:
| Particulars | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 |
|---|---|---|---|---|---|
| Sales (Rs Crore) | Rs 247 | Rs 1,776 | Rs 832 | Rs 544 | Rs 191 |
| Other Income (Rs Crore) | Rs 86 | Rs 99 | Rs 84 | Rs 86 | Rs 80 |
| Total Income (Rs Crore) | Rs 334 | Rs 1,876 | Rs 916 | Rs 630 | Rs 271 |
| Total Expenditure (Rs Crore) | Rs 310 | Rs 1,497 | Rs 722 | Rs 463 | Rs 259 |
| EBIT (Rs Crore) | Rs 23 | Rs 378 | Rs 193 | Rs 167 | Rs 12 |
| Interest (Rs Crore) | Rs 0 | Rs 0 | Rs 0 | Rs 0 | Rs 1 |
| Tax (Rs Crore) | Rs 4 | Rs 105 | Rs 45 | Rs 43 | Rs 4 |
| Net Profit (Rs Crore) | Rs 18 | Rs 272 | Rs 147 | Rs 122 | Rs 7 |
The standalone quarterly sales for June 2025 were Rs 247 Crore, compared to Rs 1,776 Crore for March 2025. The net profit for the quarter stood at Rs 18 Crore, compared to Rs 272 Crore in the previous quarter.
The cash flow from operating activities for the year-ending March 2025 was Rs 167 Crore.
Balance Sheet:
| Particulars | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
| Share Capital (Rs Crore) | Rs 183 | Rs 183 | Rs 183 | Rs 183 | Rs 183 |
| Reserves & Surplus (Rs Crore) | Rs 3,825 | Rs 3,453 | Rs 3,028 | Rs 2,847 | Rs 2,501 |
| Current Liabilities (Rs Crore) | Rs 4,360 | Rs 3,005 | Rs 2,205 | Rs 2,581 | Rs 2,520 |
| Other Liabilities (Rs Crore) | Rs 3,373 | Rs 3,697 | Rs 3,254 | Rs 952 | Rs 756 |
| Total Liabilities (Rs Crore) | Rs 11,742 | Rs 10,340 | Rs 8,672 | Rs 6,563 | Rs 5,961 |
| Fixed Assets (Rs Crore) | Rs 1,087 | Rs 896 | Rs 882 | Rs 914 | Rs 936 |
| Current Assets (Rs Crore) | Rs 10,377 | Rs 9,239 | Rs 7,600 | Rs 5,523 | Rs 4,899 |
| Other Assets (Rs Crore) | Rs 277 | Rs 204 | Rs 189 | Rs 126 | Rs 126 |
| Total Assets (Rs Crore) | Rs 11,742 | Rs 10,340 | Rs 8,672 | Rs 6,563 | Rs 5,961 |
| Contingent Liabilities (Rs Crore) | Rs 0 | Rs 697 | Rs 607 | Rs 471 | Rs 357 |
Total assets stood at Rs 11,742 Crore for the year-ending March 2025.
Financial Ratios:
| Particulars | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
| Basic EPS (Rs.) | 14.99 | 33.43 | 19.22 | 27.28 | 14.06 |
| Diluted EPS (Rs.) | 14.99 | 33.43 | 19.22 | 27.28 | 14.06 |
| Book Value /Share (Rs.) | 109.37 | 198.43 | 175.22 | 165.35 | 146.48 |
| Dividend/Share (Rs.) | 4.65 | 10.55 | 9.35 | 8.30 | 7.35 |
| Face Value | 5 | 10 | 10 | 10 | 10 |
| Gross Profit Margin (%) | 24.59 | 37.91 | 22.63 | 29.71 | 22.95 |
| Operating Margin (%) | 22.48 | 35.08 | 19.53 | 26.51 | 18.01 |
| Net Profit Margin (%) | 16.43 | 25.86 | 14.14 | 17.74 | 13.46 |
| Return on Networth / Equity (%) | 13.71 | 16.84 | 10.96 | 16.49 | 9.60 |
| ROCE (%) | 10.18 | 11.33 | 7.52 | 18.75 | 10.02 |
| Return On Assets (%) | 4.68 | 5.92 | 4.06 | 7.61 | 4.32 |
| Current Ratio (X) | 2.38 | 3.07 | 3.45 | 2.14 | 1.94 |
| Quick Ratio (X) | 1.77 | 2.41 | 2.62 | 1.50 | 1.39 |
| Debt to Equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Coverage Ratios (X) | 248.64 | 289.31 | 124.24 | 244.51 | 112.28 |
| Asset Turnover Ratio (%) | 0.30 | 0.25 | 0.33 | 0.45 | 0.33 |
| Inventory Turnover Ratio (X) | 0.91 | 0.58 | 0.69 | 0.83 | 0.86 |
| 3 Yr CAGR Sales (%) | 8.96 | 11.27 | -10.32 | -4.19 | -35.41 |
| 3 Yr CAGR Net Profit (%) | 4.86 | 54.18 | -18.86 | 8.77 | -30.14 |
| P/E (x) | 85.48 | 26.20 | 25.72 | 10.07 | 11.83 |
| P/B (x) | 11.71 | 8.83 | 5.64 | 3.31 | 2.27 |
| EV/EBITDA (x) | 51.97 | 31.02 | 25.31 | 9.70 | 10.32 |
| P/S (x) | 14.03 | 13.55 | 7.28 | 3.56 | 3.19 |
Bharat Dynamics announced several corporate actions. The 55th Annual General Meeting (AGM) outcome was announced on September 26, 2025. The appointment of the Statutory Auditor for the financial year 2025-26 was announced on September 16, 2025. An intimation for an analyst/investor meet was announced on September 11, 2025.
The company announced a final dividend of Rs 0.65 per share (13%) with an effective date of September 19, 2025, and an interim dividend of Rs 4.00 per share (80%) with an effective date of February 14, 2025.
A stock split was announced on March 21, 2024, with an ex-split date of May 24, 2024, changing the face value from Rs 10 to Rs 5.
Moneycontrol analysis, as of September 24, 2025, indicates a bullish sentiment for the stock.
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