BEL Q4 FY26 Earnings Call: 16% Revenue Growth, QRSAM Order by June-end

Order Pipeline DisclosedMgmt Guided Margin ImprovementInvestor Communications View source PDF

BEL · price

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Price reaction · full curve 14 horizons · vs prior close

+0.4%1-day move

₹420.10

prior close

₹417.40

base price

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AI summary

BEL FY26: revenue INR27,480 cr (+16%), PAT INR6,048 cr (+14%), EBITDA margin 30% (vs 29%). Order book INR73,882 cr. CMD targets QRSAM signing by June-end. Pipeline includes P-75I submarines, NGC, HAMMER, Shakti IV, AMCA (RFP in 15-45 days), data centers. FY26 capex INR900 cr, higher planned. Non-defense to grow to 15-20%, exports to 10%+. Indigenization at 80-85%.

Likely market impact

Confirms strong growth trajectory with robust order pipeline; QRSAM and AMCA wins are near-term catalysts. EBITDA margin improving to 30%.