Audited Financial results for the quarter and year ended 31 March 2025
Awaiting price reaction for this filing.
Bharat Dynamics Limited (BDL), a government-owned defence PSU, reported audited results for FY25. Total revenue from operations rose to ₹3,34,505 lakh from ₹2,36,927 lakh a year ago, a growth of about 41%, largely driven by a strong Q4 where revenue jumped to ₹1,77,698 lakh from ₹85,412 lakh. However, profit after tax slipped to ₹54,965 lakh (FY25) from ₹61,272 lakh (FY24), with EPS at ₹14.99 vs ₹16.72. The Board has recommended a final dividend of ₹0.65 per share, taking the total dividend for FY25 to ₹4.65 per share (interim ₹4.00 already paid in February 2025). The statutory auditor Tej Raj & Pal issued an unmodified opinion but flagged two emphasis-of-matter items — a provision of ₹14,140 lakh against an onerous contract to enter the global defence supply chain, and old inventory of ₹8,331 lakh pending use against customer advances.
Strong top-line growth signals robust order execution and export push, though bottom-line pressure from the one-time onerous contract provision and lower other income weighed on profitability. Shareholders get a steady dividend, but watch trade receivables (up 2.6x to ₹82,636 lakh) and inventories (up sharply) as they tie up working capital.