Bharat Electronics Limited has informed the Exchange about Transcript

BEL's Q2 FY26 earnings call highlighted strong H1 performance with revenue up 15.92% YoY to INR 10,180 crores, PAT up 20.77% to INR 2,255 crores, and EBITDA margin expanding to 30.15% from 27.26%. Order book stood at INR 75,600 crores, with YTD orders of INR 14,750 crores. Management reaffirmed FY26 order inflow guidance of over INR 27,000 crores (excluding QRSAM) and EBITDA margin guidance of over 27%, saying product mix in H2 will remain similar to H1. Management expects QRSAM order by March 2026, with 12-18 months for First-of-Production-Model trials and 5-6 year total execution, expecting negligible QRSAM revenue in next fiscal. Other pipeline orders discussed include emergency procurement (~INR 2,000 crores pending), Project Kusha (production order expected by Dec 2029), LCA Mark 1A avionics (INR 2,500 crores from HAL in 1-1.5 months), NGC subsystems (INR 4,500 crores this year), AMCA, and Shatrughat/Samaghat projects. BEL committed INR 1,400 crores capex for a new Defense Systems Integration Complex in Andhra Pradesh (920 acres) over 3-4 years, mainly for QRSAM. Export revenue targeted to grow from 3-4% currently to 5% in 2-3 years and 10% long-term.