BEL Reports 25% Revenue Growth in Q1 FY27; Expects Rs. 55,000-Crore Order Inflow, QRSAM Approval by September

Published at : Sep 07, 2026 11:36 AM (IST)

Total Views : 29

BEL Reports 25% Revenue Growth in Q1 FY27; Expects Rs. 55,000-Crore Order Inflow, QRSAM Approval by September

- Order book stands at Rs. 72,258 crore; management remains confident of achieving annual order guidance despite lean first-quarter inflows

The Print Times | New Delhi

Bharat Electronics Limited (BEL) reported a strong financial performance for the first quarter of FY27, with revenue from operations rising 25.27% year-on-year to Rs. 5,533 crore from Rs. 4,417 crore in the corresponding quarter last year. Profit Before Tax (PBT) increased by 8.81% to Rs. 1,403 crore, while Profit After Tax (PAT) grew 8.17% to Rs. 1,048 crore. The company reported an EBITDA margin of 25.83%, and earnings per share improved to Rs. 1.43 from Rs. 1.33 a year earlier.

Speaking during the Q1 FY27 earnings conference call, Manoj Jain, Chairman and Managing Director, Bharat Electronics Limited, said the company's order book stood at Rs. 72,258 crore as of July 1, 2026, while fresh orders worth Rs. 3,754 crore were secured during the quarter.

Confident of meeting FY27 order inflow guidance

Responding to concerns over relatively lower order inflows in the first quarter compared to previous years, Jain clarified that last year's first-quarter orders had benefited from spillover contracts originally expected in the January-March period.

He stated that the current year's order pipeline is progressing as planned and maintained BEL's guidance of Rs. 55,000 crore-plus in order inflows for FY27, including the much-awaited Quick Reaction Surface-to-Air Missile (QRSAM) project.

According to Jain, the QRSAM proposal is awaiting approval from the Cabinet Committee on Security (CCS), and he remains optimistic that the clearance will come by September 2026.

Project Kusha remains a long-term opportunity

On the progress of Project Kusha, BEL said the indigenous air defence programme continues to be led by DRDO, with BEL serving as its largest development-cum-production partner for several critical subsystems.

Jain noted that the missile programme is still undergoing multiple stages of testing and system integration before commercial orders can be issued. BEL expects an opportunity of over Rs. 40,000 crore from the programme in the future, although commercial procurement remains some distance away.

Defence order book balanced across Army, Navy and Air Force

The company highlighted that nearly 90% of its order book comes from defence, with an almost equal distribution among the Army, Navy and Air Force.

Major projects currently under execution include Electronic Fuzes, Long Range Surface-to-Air Missile (LRSAM) systems, Light Combat Aircraft (LCA) LRUs, BMP-2 upgrades, Ashwini Radars, Electronic Warfare suites for Mi-17 V5 helicopters, Arudhra Medium Power Radars and Akash missile systems, among others.

Management indicated that future order inflows are also expected to remain well diversified across the three armed services.
BEL targets leadership in advanced counter-drone systems

Highlighting emerging opportunities in defence electronics, Jain said the global focus on drone and counter-drone technologies has increased significantly following recent geopolitical conflicts.

BEL is concentrating on developing high-power laser-based, microwave-based and integrated hard-kill counter-drone systems (D4 solutions) while also expanding its portfolio of detection, electronic warfare and soft-kill technologies. The company is collaborating with startups to develop innovative counter-drone products and believes there is sufficient market opportunity for both established defence companies and emerging technology firms.

Management added that BEL continues to strengthen its position in advanced defence electronics while leveraging its research laboratories and startup partnerships to address future requirements in the rapidly evolving drone and counter-drone ecosystem.
 

Published at : Sep 07, 2026 11:36 AM (IST)

Total Views : 29