Reported Earnings • May 29
Full year 2026 earnings released: EPS: ₹11.47 (vs ₹15.00 in FY 2025) Full year 2026 results: EPS: ₹11.47 (down from ₹15.00 in FY 2025). Revenue: ₹28.7b (down 14% from FY 2025). Net income: ₹4.20b (down 24% from FY 2025). Profit margin: 15% (down from 16% in FY 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Aerospace & Defense industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • May 28
Price target decreased by 7.3% to ₹1,448 Down from ₹1,562, the current price target is an average from 12 analysts. New target price is 13% above last closing price of ₹1,283. Stock is down 35% over the past year. The company is forecast to post earnings per share of ₹20.79 for next year compared to ₹14.99 last year. Declared Dividend • Feb 04
Dividend of ₹4.50 announced Shareholders will receive a dividend of ₹4.50. Ex-date: 9th February 2026 Payment date: 2nd March 2026 Dividend yield will be 0.4%, which is lower than the industry average of 0.9%. Sustainability & Growth Dividend is well covered by both earnings (4% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 3.1% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 86% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 01
Third quarter 2026 earnings released: EPS: ₹1.99 (vs ₹4.01 in 3Q 2025) Third quarter 2026 results: EPS: ₹1.99 (down from ₹4.01 in 3Q 2025). Revenue: ₹6.64b (down 20% from 3Q 2025). Net income: ₹729.2m (down 50% from 3Q 2025). Profit margin: 11% (down from 18% in 3Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Aerospace & Defense industry in India. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Sep 25
Price target decreased by 8.1% to ₹1,678 Down from ₹1,826, the current price target is an average from 9 analysts. New target price is 7.8% above last closing price of ₹1,557. Stock is up 39% over the past year. The company is forecast to post earnings per share of ₹26.25 for next year compared to ₹14.99 last year. Declared Dividend • Sep 04
Dividend of ₹0.65 announced Shareholders will receive a dividend of ₹0.65. Ex-date: 19th September 2025 Payment date: 26th October 2025 Dividend yield will be 0.3%, which is lower than the industry average of 0.9%. Sustainability & Growth Dividend is covered by earnings (31% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 3.5% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 170% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Aug 20
Price target increased by 7.3% to ₹1,826 Up from ₹1,702, the current price target is an average from 8 analysts. New target price is 19% above last closing price of ₹1,530. Stock is up 16% over the past year. The company is forecast to post earnings per share of ₹26.90 for next year compared to ₹14.99 last year. Reported Earnings • Aug 13
First quarter 2026 earnings released: EPS: ₹0.50 (vs ₹0.20 in 1Q 2025) First quarter 2026 results: EPS: ₹0.50 (up from ₹0.20 in 1Q 2025). Revenue: ₹3.35b (up 75% from 1Q 2025). Net income: ₹183.5m (up 154% from 1Q 2025). Profit margin: 5.5% (up from 3.8% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Aerospace & Defense industry in India. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Aug 02
Bharat Dynamics Limited to Report Q1, 2026 Results on Aug 12, 2025 Bharat Dynamics Limited announced that they will report Q1, 2026 results on Aug 12, 2025 Price Target Changed • May 28
Price target increased by 11% to ₹1,380 Up from ₹1,242, the current price target is an average from 6 analysts. New target price is 28% below last closing price of ₹1,917. Stock is up 24% over the past year. The company is forecast to post earnings per share of ₹30.82 for next year compared to ₹14.99 last year. Annonce • May 20
Bharat Dynamics Limited to Report Q4, 2025 Results on May 27, 2025 Bharat Dynamics Limited announced that they will report Q4, 2025 results on May 27, 2025 Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,135, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 33x in the Aerospace & Defense industry in India. Total returns to shareholders of 371% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹725 per share. Price Target Changed • Feb 10
Price target decreased by 9.7% to ₹1,244 Down from ₹1,378, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₹1,199. Stock is up 49% over the past year. The company is forecast to post earnings per share of ₹19.15 for next year compared to ₹16.72 last year. Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: ₹4.01 (vs ₹3.69 in 3Q 2024) Third quarter 2025 results: EPS: ₹4.01 (up from ₹3.69 in 3Q 2024). Revenue: ₹8.32b (up 38% from 3Q 2024). Net income: ₹1.47b (up 9.0% from 3Q 2024). Profit margin: 18% (down from 22% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Aerospace & Defense industry in India. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Feb 06
Bharat Dynamics Limited Declares Interim Dividend for the Financial Year 2024-25 Bharat Dynamics Limited at its Board of Directors meeting held on February 06, 2025 has declared Interim Dividend for the Financial Year 2024-25 at INR 4 per share of the face value of INR 5/- each. The Company has fixed 14 February, 2025 as "Record Date" for the purpose of payment of Interim Dividend on equity shares for the Financial Year 2024-25. Annonce • Jan 24
Bharat Dynamics Limited to Report Q3, 2025 Results on Feb 06, 2025 Bharat Dynamics Limited announced that they will report Q3, 2025 results on Feb 06, 2025 New Risk • Jan 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.5% average weekly change). Annonce • Jan 16
Bharat Dynamics Limited Appoints Shri D V Srinivas as Director (Technical) on the Board Bharat Dynamics Limited informed that Ministry of Defence, Department of Defence Production, Government of India vide its Office Memorandum No. DDP-M0001(11)/4/2023-D(BDL) dated September 20, 2024, conveyed the approval of the Competent Authority for the appointment of Shri D V Srinivas as Director (Technical) on the Board of BDL. Shri D V Srinivas took the charge as Director (Technical) with effect from September 20, 2024. Further he is not debarred from holding the office by virtue of any SEBI Order or any other authority. Annonce • Dec 30
Bharat Dynamics Limited Announces Cessation of Non-Official Independent Directors Bharat Dynamics Limited announced that the following Non-Official Independent Directors has ceased to hold the office as per the terms of appointment order vide letter dated dated 3 January 2022: Shri Sanghamitra Mishra - Date of Cessation: December 27, 2024 and Shri Rajendra Singh Shekhawat - Date of Cessation: December 28, 2024. Annonce • Dec 19
Bharat Dynamics Limited Appoints G. Gayatri Prasad as Director (Finance) Bharat Dynamics Limited announced that Ministry of Defence, Department of Defence Production, Government of India vide its Office Memorandum dated 18 December 2024, conveyed the approval of the Competent Authority for the appointment of Shri G. Gayatri Prasad (CFO) as Director (Finance) on the Board of the company from the date of assumption of charge of the post till the date of his superannuation that is 30 June 2029 or until further order, whichever is earlier. Shri G. Gayatri Prasad is not related to any Director or KMP. Shri G. Gayatri Prasad is a Graduate in Commerce and Associate Member of Institute of Cost Accountants of India. He has rich experience of over 27 years in BDL in the areas of Accounting, Finance, Banking, Budgeting and Taxation. Previous to this appointment he was working as CFO and General Manager (Finance) in the Company. Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,118, the stock trades at a forward P/E ratio of 50x. Average forward P/E is 42x in the Aerospace & Defense industry in India. Total returns to shareholders of 461% over the past three years. Price Target Changed • Nov 19
Price target decreased by 8.3% to ₹1,378 Down from ₹1,502, the current price target is an average from 5 analysts. New target price is 43% above last closing price of ₹966. Stock is up 72% over the past year. The company is forecast to post earnings per share of ₹18.43 for next year compared to ₹16.72 last year. Reported Earnings • Nov 15
Second quarter 2025 earnings released: EPS: ₹3.34 (vs ₹4.02 in 2Q 2024) Second quarter 2025 results: EPS: ₹3.34 (down from ₹4.02 in 2Q 2024). Revenue: ₹6.31b (up 2.4% from 2Q 2024). Net income: ₹1.23b (down 17% from 2Q 2024). Profit margin: 19% (down from 24% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Aerospace & Defense industry in India. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 69% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Nov 04
Bharat Dynamics Limited to Report Q2, 2025 Results on Nov 14, 2024 Bharat Dynamics Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Declared Dividend • Sep 06
Dividend of ₹0.85 announced Shareholders will receive a dividend of ₹0.85. Ex-date: 23rd September 2024 Payment date: 30th October 2024 Dividend yield will be 0.7%, which is lower than the industry average of 0.9%. Sustainability & Growth Dividend is covered by both earnings (32% earnings payout ratio) and cash flows (58% cash payout ratio). The dividend has increased by an average of 6.4% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to grow by 123% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Sep 04
Bharat Dynamics Limited, Annual General Meeting, Sep 30, 2024 Bharat Dynamics Limited, Annual General Meeting, Sep 30, 2024, at 15:00 Indian Standard Time. Annonce • Aug 15
Bharat Dynamics Limited Announces Board Changes Bharat Dynamics Limited announced that Ministry of Defence, Government of India vide letter No. 8(32)/2019-D (Coord/DDP) dated 14 August 2024 conveyed the approval of the Competent Authority for the appointment of Shri Amit Satija, Joint Secretary as Part-Time Official Director (i.e., Government Director) on the Board of BDL, with effect from 14 August 2024 in place of Shri Anurag Bajpai, Additional Secretary (DP). Shri Amit Satija is an IAS officer of 2008 batch from AGMUT cadre who is currently posted as Joint Secretary in the Ministry of Defence in the Department of Defence Production. Prior to joining the Government of India, he has served at various positions in different States and UTs in the country including Delhi, Goa, Andaman Nicobar Islands and Lakshadweep Islands. Shri Satija is a graduate in Economics and has done Masters of Management Studies from Jamnalal Bajaj Institute of Management Studies, Mumbai before joining IAS. Reported Earnings • Aug 10
First quarter 2025 earnings released: EPS: ₹0.20 (vs ₹1.14 in 1Q 2024) First quarter 2025 results: EPS: ₹0.20 (down from ₹1.14 in 1Q 2024). Revenue: ₹2.72b (down 8.8% from 1Q 2024). Net income: ₹72.2m (down 83% from 1Q 2024). Profit margin: 2.7% (down from 14% in 1Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Aerospace & Defense industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 95% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Aug 02
Bharat Dynamics Limited to Report Q1, 2025 Results on Aug 09, 2024 Bharat Dynamics Limited announced that they will report Q1, 2025 results on Aug 09, 2024 Annonce • Jul 31
Bharat Dynamics Limited Announces Retirement of P. Veerabhadra Rao as General Manager (Finance) Bharat Dynamics Limited announced that Shri P. Veerabhadra Rao, General Manager (Finance) retired on 31 July 2024 (after the closing of office hours) on attaining the age of superannuation. Reported Earnings • Jun 05
Full year 2024 earnings released: EPS: ₹16.72 (vs ₹9.61 in FY 2023) Full year 2024 results: EPS: ₹16.72 (up from ₹9.61 in FY 2023). Revenue: ₹23.7b (down 4.8% from FY 2023). Net income: ₹6.13b (up 74% from FY 2023). Profit margin: 26% (up from 14% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Aerospace & Defense industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 93% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jun 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.1% average weekly change). Annonce • May 30
Bharat Dynamics Limited Recommends Final Dividend for the Year Ended March 31, 2024 Bharat Dynamics Limited at its board of directors meeting held on May 30, 2024, recommended a final Dividend of INR 0.85 per share (face value of INR 5.00 each) for the year ended March 31, 2024. This Dividend upon approval by the shareholders at the upcoming Annual General Meeting will be paid within 30 days from the date of AGM. Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to ₹1,407, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 42x in the Aerospace & Defense industry in India. Total returns to shareholders of 690% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹2,108 per share. Annonce • May 17
Bharat Dynamics Limited to Report Q4, 2024 Results on May 30, 2024 Bharat Dynamics Limited announced that they will report Q4, 2024 results on May 30, 2024 Upcoming Dividend • Mar 26
Upcoming dividend of ₹8.85 per share Eligible shareholders must have bought the stock before 02 April 2024. Payment date: 18 April 2024. Payout ratio is a comfortable 4.6% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (0.9%). Annonce • Mar 22
Bharat Dynamics Limited Announces Chief Financial Officer Changes Bharat Dynamics Limited at its board meeting held on March 21, 2024, approved the appointment of Shri G. Gayatri Prasad, General Manager (Finance) as the Chief Financial Officer of the Company, consequent to cessation of Shri N. Srinivasulu as Director (Finance) and Chief Financial Officer on 31 January 2024. Shri G. Gayatri Prasad is a Graduate in Commerce and Associate Member of Institute of Cost Accountants of India. He has rich experience of over 27 years in BDL in the areas of Accounting, Finance, Banking, Budgeting and Taxation. At present he is working as General Manager (Finance) in the Company. Annonce • Mar 21
Bharat Dynamics Limited Declares Interim Dividend for the Financial Year 2023-24, Payable on and Before April 18, 2024 Bharat Dynamics Limited at its board meeting held on March 21, 2024, declared an interim dividend of INR 8.85 per equity share of INR 10 each fully paid-up for the financial year 2023-24. The Company has fixed 02 April 2024 as Record Date for the purpose of payment of Interim Dividend on equity shares for the Financial Year 2023-24 and the payment of Interim Dividend will be completed on and before 18 April 2024. Buy Or Sell Opportunity • Feb 12
Now 25% undervalued Over the last 90 days, the stock has risen 49% to ₹1,615. The fair value is estimated to be ₹2,156, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 25% per annum. Earnings are also forecast to grow by 26% per annum over the same time period. Annonce • Feb 10
Bharat Dynamics Limited Assigns Additional Charge of the Post of Director (Technical) to PV Rajaram Director (Production) Bharat Dynamics Limited inform that Ministry of Defence, Government of India vide letter No.M0001(11)/4/2021-D (BDL) dated 08 Feb. 2024 has assigned the additional charge of the post of Director (Technical) to Shri. PV Rajaram Director (Production) for a period of 8 months i.e. from 19 Jan 2024 to 18 September 2024 or till the regular incumbent joins to the post or until further orders, whichever is earliest. He is not related to any Directors of the Company. Annonce • Feb 09
Bharat Dynamics Limited Assigns Additional Charge of the Post of Director (Finance) to Cmde. A. Madhavarao, CMD Bharat Dynamics Limited inform that Ministry of Defence, Government of India vide letter No. DDP M0001(11)/3/2019- D(BDL) dated 08 Feb. 2024 has assigned the additional charge of the post of Director (Finance) to Cmde. A. Madhavarao, CMD (DIN 09808949), for a period of 3 months reckoning from date of vacancy i.e. 01 Feb. 2024 to 30 April 2024 or till the appointment of regular incumbent, whichever is earlier. He is not related to any Directors of the Company. Annonce • Feb 01
Bharat Dynamics Limited Announces Executive Changes Bharat Dynamics Limited announced changes in Senior Management consequent to the Departmental Promotions- 2023-24, as follows: Shri L Kishan as Executive Director (Bhanur Unit Head). As General Manager he was heading Bhanur Unit. Shri M Ravi as Executive Director (Mktg, BD & Corporate Services). As General Manager he was heading Business Development division. Price Target Changed • Jan 28
Price target increased by 11% to ₹1,608 Up from ₹1,447, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of ₹1,671. Stock is up 82% over the past year. The company is forecast to post earnings per share of ₹31.16 for next year compared to ₹19.21 last year. Reported Earnings • Jan 26
Third quarter 2024 earnings released: EPS: ₹7.37 (vs ₹4.57 in 3Q 2023) Third quarter 2024 results: EPS: ₹7.37 (up from ₹4.57 in 3Q 2023). Revenue: ₹6.02b (up 30% from 3Q 2023). Net income: ₹1.35b (up 61% from 3Q 2023). Profit margin: 22% (up from 18% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Aerospace & Defense industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 72% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jan 13
Bharat Dynamics Limited to Report Q3, 2024 Results on Jan 24, 2024 Bharat Dynamics Limited announced that they will report Q3, 2024 results on Jan 24, 2024 Price Target Changed • Jan 08
Price target increased by 13% to ₹1,519 Up from ₹1,339, the current price target is an average from 5 analysts. New target price is 13% below last closing price of ₹1,742. Stock is up 86% over the past year. The company is forecast to post earnings per share of ₹30.25 for next year compared to ₹19.21 last year. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹1,767, the stock trades at a forward P/E ratio of 48x. Average forward P/E is 40x in the Aerospace & Defense industry in India. Total returns to shareholders of 461% over the past three years. Reported Earnings • Nov 05
Second quarter 2024 earnings released: EPS: ₹8.03 (vs ₹4.14 in 2Q 2023) Second quarter 2024 results: EPS: ₹8.03 (up from ₹4.14 in 2Q 2023). Revenue: ₹6.16b (up 15% from 2Q 2023). Net income: ₹1.47b (up 94% from 2Q 2023). Profit margin: 24% (up from 14% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Aerospace & Defense industry in India. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Oct 20
Bharat Dynamics Limited to Report Q2, 2024 Results on Nov 03, 2023 Bharat Dynamics Limited announced that they will report Q2, 2024 results on Nov 03, 2023 Upcoming Dividend • Sep 13
Upcoming dividend of ₹1.20 per share at 0.9% yield Eligible shareholders must have bought the stock before 20 September 2023. Payment date: 28 October 2023. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Indian dividend payers (1.4%). Lower than average of industry peers (1.2%). Annonce • Sep 02
Bharat Dynamics Limited, Annual General Meeting, Sep 28, 2023 Bharat Dynamics Limited, Annual General Meeting, Sep 28, 2023, at 15:00 Indian Standard Time. Annonce • Sep 01
Bharat Dynamics Limited Appoints Shri P V Raja Ram as Director (Production) on the Board Bharat Dynamics Limited announced that conveyed the approval of the Competent Authority for the appointment of Shri P V Raja Ram as Director (Production) on the Board of BDL. Shri P V Raja Ram took the charge as Director (Production) w.e.f 30 August 2023. Shri P V Raja Ram took charge of the Director (Production), BDL w.e.f 30 August 2023.He is a Mechanical Engineer from Osmania University Mr. Raja Ram has rich experience spanning 34years in various areas of Missile Production. Prior to his new appointment, Mr. Raja Ram has served as Executive Director, head of Kanchanbagh unit. Earlier as General Manager, Head of Surface to Air Missiles he played a keyrole in establishing facilities and streamlining Production of MRSAM Missiles and was instrumental in establishing flexible manufacturing lines for Akash Missile and its variants as head of Akash Weapon System. He was actively involved in preparation of Quality and process documents for implementation of ISO 9001 for Prithvi and Akash Missiles. Played a key role in establishing facilities for Production of Prithvi missile. Reported Earnings • Aug 05
First quarter 2024 earnings released: EPS: ₹2.28 (vs ₹2.17 in 1Q 2023) First quarter 2024 results: EPS: ₹2.28 (up from ₹2.17 in 1Q 2023). Revenue: ₹2.98b (down 57% from 1Q 2023). Net income: ₹418.2m (up 4.9% from 1Q 2023). Profit margin: 14% (up from 5.7% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Aerospace & Defense industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jul 26
Bharat Dynamics Limited to Report Q1, 2024 Results on Aug 04, 2023 Bharat Dynamics Limited announced that they will report Q1, 2024 results on Aug 04, 2023 Price Target Changed • Jul 18
Price target increased by 7.3% to ₹1,240 Up from ₹1,156, the current price target is an average from 5 analysts. New target price is 7.1% above last closing price of ₹1,157. Stock is up 61% over the past year. The company is forecast to post earnings per share of ₹30.52 for next year compared to ₹19.22 last year. Annonce • Jul 12
Bharat Dynamics Limited Announces Appointment of Cmde A. Madhavarao as Director Production Bharat Dynamics Limited informed that Ministry of Defence, Government of India vide letter No.M0001(11)/2/2022- D(BDL) dated 11.07.2023 has assigned the additional charge of the post of Director (Production) to Cmde A. Madhavarao (Retd.) Director (Technical) (DIN 09808949), for a period of 3 months (to be reckoned from the date of vacancy i.e. 01.07.2023). Annonce • May 26
Bharat Dynamics Limited Recommends Final Dividend for the Year Ended 31 March 2023 Bharat Dynamics Limited recommended a final Dividend INR 1.20 per share (face value of INR 10 each) for the year ended 31 March 2023. This Dividend upon approval by the shareholders at the upcoming Annual General Meeting(AGM) will be paid within 30 days from the date of AGM. Reported Earnings • May 26
Full year 2023 earnings released: EPS: ₹19.22 (vs ₹27.28 in FY 2022) Full year 2023 results: EPS: ₹19.22 (down from ₹27.28 in FY 2022). Revenue: ₹26.4b (down 6.1% from FY 2022). Net income: ₹3.52b (down 30% from FY 2022). Profit margin: 13% (down from 18% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Aerospace & Defense industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 65% per year, which means it is tracking significantly ahead of earnings growth. Annonce • May 19
Bharat Dynamics Limited to Report Q4, 2023 Results on May 25, 2023 Bharat Dynamics Limited announced that they will report Q4, 2023 results on May 25, 2023 Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹933, the stock trades at a trailing P/E ratio of 36.9x. Average trailing P/E is 26x in the Aerospace & Defense industry in India. Total returns to shareholders of 248% over the past three years. Upcoming Dividend • Feb 13
Upcoming dividend of ₹8.15 per share at 1.1% yield Eligible shareholders must have bought the stock before 20 February 2023. Payment date: 09 March 2023. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Indian dividend payers (1.6%). Lower than average of industry peers (1.8%). Annonce • Feb 09
Bharat Dynamics Limited Appoints Jaswant Lal Sonkar as Non-Official Independent Director Bharat Dynamics Limited announced that Ministry of Defence, Department of Defence Production, Government of India vide its Office Memorandum dated February 8, 2023, conveyed the approval of the Competent Authority for the appointment of Shri Jaswant Lal Sonkar as Non-Official IndependentDirector on the Board of the company. Shri Jaswant Lal Sonkar is from Uttar Pradesh. He has degree in B.SC from Awadh University.The area of specialization of Shri Jaswant Lal Sonkar is in Social service. Annonce • Feb 08
Bharat Dynamics Limited Declares Interim Dividend for the Financial Year 2022-2023 Bharat Dynamics Limited announced that the Board of Directors in its 274th Meeting held on 07 February 2023 has declared Interim Dividend for the Financial Year 2022-2023 @ INR 8.15/- per share of the face value of INR 10/- each. The Company has fixed 20 February, 2023 as "Record Date" for the purpose of payment of Interim Dividend on equity shares for the Financial Year 2022-23. Reported Earnings • Feb 08
Third quarter 2023 earnings released: EPS: ₹4.57 (vs ₹11.64 in 3Q 2022) Third quarter 2023 results: EPS: ₹4.57 (down from ₹11.64 in 3Q 2022). Revenue: ₹4.62b (down 43% from 3Q 2022). Net income: ₹837.4m (down 61% from 3Q 2022). Profit margin: 18% (down from 27% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Feb 07
Price target increased by 20% to ₹1,186 Up from ₹985, the current price target is an average from 3 analysts. New target price is 34% above last closing price of ₹885. Stock is up 88% over the past year. The company posted earnings per share of ₹27.28 last year. Annonce • Jan 17
Bharat Dynamics Limited to Report Q3, 2023 Results on Feb 07, 2023 Bharat Dynamics Limited announced that they will report Q3, 2023 results on Feb 07, 2023 Buying Opportunity • Dec 09
Now 21% undervalued Over the last 90 days, the stock is up 16%. The fair value is estimated to be ₹1,201, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 10%. Price Target Changed • Nov 16
Price target increased to ₹1,068 Up from ₹985, the current price target is an average from 4 analysts. New target price is 12% above last closing price of ₹958. Stock is up 125% over the past year. The company posted earnings per share of ₹27.28 last year. Board Change • Nov 16
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 2 experienced directors. No highly experienced directors. Chairman & MD Siddharth Mishra is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Annonce • Sep 28
Bharat Dynamics Limited Proposes Final Dividend for the Financial Year Ended March 31, 2022 Bharat Dynamics Limited proposed Interim Dividend (INR 7.30/-per share) and declare final dividend of INR 1 per share (10%) on Equity Shares for the financial year ended 31 March 2022, to its annual general meeting held on September 26, 2022. Board Change • Sep 21
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 5 were independent directors. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Rajendra Shekhawat was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Annonce • Sep 16
Bharat Dynamics Limited Announces Board Changes Bharat Dynamics Limited announced that the appointment of Shri Anurag Bajpai, JS (P&C) as Part-Time Official Director (that is Government Director) on the Board of company in place of Shri Chandraker Bharti, JS (AS). Upcoming Dividend • Sep 09
Upcoming dividend of ₹1.00 per share Eligible shareholders must have bought the stock before 16 September 2022. Payment date: 26 October 2022. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (1.5%). Annonce • Aug 30
Bharat Dynamics Limited, Annual General Meeting, Sep 26, 2022 Bharat Dynamics Limited, Annual General Meeting, Sep 26, 2022, at 15:00 Indian Standard Time. Price Target Changed • Aug 20
Price target increased to ₹815 Up from ₹698, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ₹835. Stock is up 123% over the past year. The company posted earnings per share of ₹27.28 last year. Reported Earnings • Aug 16
First quarter 2023 earnings released: EPS: ₹2.17 (vs ₹1.14 loss in 1Q 2022) First quarter 2023 results: EPS: ₹2.17 (up from ₹1.14 loss in 1Q 2022). Net income: ₹398.6m (up ₹608.1m from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Aug 04
Bharat Dynamics Limited to Report Q1, 2023 Results on Aug 12, 2022 Bharat Dynamics Limited announced that they will report Q1, 2023 results on Aug 12, 2022 Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment improved over the past week After last week's 20% share price gain to ₹842, the stock trades at a trailing P/E ratio of 30.1x. Average trailing P/E is 23x in the Aerospace & Defense industry in India. Total returns to shareholders of 213% over the past three years. Reported Earnings • May 27
Full year 2022 earnings released: EPS: ₹27.28 (vs ₹14.06 in FY 2021) Full year 2022 results: EPS: ₹27.28 (up from ₹14.06 in FY 2021). Revenue: ₹29.3b (up 53% from FY 2021). Net income: ₹5.00b (up 94% from FY 2021). Profit margin: 17% (up from 14% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. Annonce • May 27
Bharat Dynamics Limited Recommends Final Dividend for the Year Ended March 31, 2022 The Board of Directors of Bharat Dynamics Limited at their meeting held on May 26, 2022, has recommended a final Dividend at INR 1 per share (face value of INR 10 each) for the year ended March 31, 2022. This Dividend upon approval by the shareholders at the upcoming Annual General Meeting will be paid within 30 days from the date of AGM. Annonce • May 17
Bharat Dynamics Limited to Report Q4, 2022 Results on May 26, 2022 Bharat Dynamics Limited announced that they will report Q4, 2022 results on May 26, 2022 Buying Opportunity • May 09
Now 23% undervalued Over the last 90 days, the stock is up 40%. The fair value is estimated to be ₹850, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Earnings per share has declined by 14%. Price Target Changed • Apr 27
Price target increased to ₹669 Up from ₹547, the current price target is provided by 1 analyst. New target price is 12% below last closing price of ₹760. Stock is up 121% over the past year. The company posted earnings per share of ₹14.06 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Part-Time Official Director B. H. V. S. Murthy was the last director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improved over the past week After last week's 25% share price gain to ₹716, the stock trades at a trailing P/E ratio of 22.9x. Average trailing P/E is 22x in the Aerospace & Defense industry in India. Total returns to shareholders of 151% over the past three years. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improved over the past week After last week's 16% share price gain to ₹522, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 19x in the Aerospace & Defense industry in India. Total returns to shareholders of 99% over the past three years. Annonce • Feb 15
Bharat Dynamics Limited Declares First Interim Dividend for the Fiscal Year 2021-22, Payable on and Before March 15, 2022 Bharat Dynamics Limited announced at the board meeting held on February 14, 2022 that the company declared 1st Interim Dividend for the Financial Year 2021-22 at INR 7.30/- per share of the face value of INR 10/- each: the Company has fixed 24 February, 2022 as "Record Date" for the purpose of payment of 1st Interim Dividend on equity shares for the Financial Year 2021-22 and the payment of Interim Dividend will be completed on and before March 15, 2022. 
