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Bharat Dynamics

NSEI:BDL
Snowflake Description

Flawless balance sheet with outstanding track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BDL
NSEI
₹54B
Market Cap
  1. Home
  2. IN
  3. Capital Goods
Company description

Bharat Dynamics Limited manufactures and sells guided missiles and related defense equipment in India. The last earnings update was 63 days ago. More info.


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BDL Share Price and Events
7 Day Returns
-6.7%
NSEI:BDL
-0.7%
IN Aerospace & Defense
1.7%
IN Market
1 Year Returns
-30.4%
NSEI:BDL
-34.2%
IN Aerospace & Defense
0.1%
IN Market
BDL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Bharat Dynamics (BDL) -6.7% 0.5% 1.6% -30.4% - -
IN Aerospace & Defense -0.7% 0.9% -0.7% -34.2% -14.5% 16%
IN Market 1.7% 2.7% 5.8% 0.1% 41.6% 73.3%
1 Year Return vs Industry and Market
  • BDL outperformed the Aerospace & Defense industry which returned -34.2% over the past year.
  • BDL underperformed the Market in India which returned 0.1% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

BDL Value

 Is Bharat Dynamics undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Bharat Dynamics to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Bharat Dynamics.

NSEI:BDL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 15.6%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:BDL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.912 (1 + (1- 35%) (0%))
0.941
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (0.941 * 8.6%)
15.64%

Discounted Cash Flow Calculation for NSEI:BDL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Bharat Dynamics is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NSEI:BDL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 15.64%)
2019 4,802.94 Est @ 6.31% 4,153.30
2020 5,123.72 Est @ 6.68% 3,831.38
2021 5,479.31 Est @ 6.94% 3,543.08
2022 5,869.60 Est @ 7.12% 3,282.09
2023 6,295.21 Est @ 7.25% 3,043.95
2024 6,757.33 Est @ 7.34% 2,825.45
2025 7,257.62 Est @ 7.4% 2,624.17
2026 7,798.13 Est @ 7.45% 2,438.22
2027 8,381.29 Est @ 7.48% 2,266.10
2028 9,009.87 Est @ 7.5% 2,106.55
Present value of next 10 years cash flows ₹30,114.27
NSEI:BDL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ₹9,009.87 × (1 + 7.55%) ÷ (15.64% – 7.55%)
₹119,752.86
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹119,752.86 ÷ (1 + 15.64%)10
₹27,998.78
NSEI:BDL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹30,114.27 + ₹27,998.78
₹58,113.05
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹58,113.05 / 183.28
₹317.07
NSEI:BDL Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹317.07
Current discount Discount to share price of ₹288.85
= -1 x (₹288.85 - ₹317.07) / ₹317.07
8.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Bharat Dynamics is available for.
Intrinsic value
9%
Share price is ₹288.85 vs Future cash flow value of ₹317.07
Current Discount Checks
For Bharat Dynamics to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Bharat Dynamics's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Bharat Dynamics's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Bharat Dynamics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Bharat Dynamics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:BDL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in INR ₹34.64
NSEI:BDL Share Price ** NSEI (2019-04-18) in INR ₹288.85
India Aerospace & Defense Industry PE Ratio Median Figure of 8 Publicly-Listed Aerospace & Defense Companies 14.12x
India Market PE Ratio Median Figure of 2,735 Publicly-Listed Companies 16.29x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Bharat Dynamics.

NSEI:BDL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NSEI:BDL Share Price ÷ EPS (both in INR)

= 288.85 ÷ 34.64

8.34x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bharat Dynamics is good value based on earnings compared to the IN Aerospace & Defense industry average.
  • Bharat Dynamics is good value based on earnings compared to the India market.
Price based on expected Growth
Does Bharat Dynamics's expected growth come at a high price?
Raw Data
NSEI:BDL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.34x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-8.1%per year
Global Aerospace & Defense Industry PEG Ratio Median Figure of 68 Publicly-Listed Aerospace & Defense Companies 1.73x
India Market PEG Ratio Median Figure of 584 Publicly-Listed Companies 1.33x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Bharat Dynamics, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Bharat Dynamics's assets?
Raw Data
NSEI:BDL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in INR ₹113.92
NSEI:BDL Share Price * NSEI (2019-04-18) in INR ₹288.85
India Aerospace & Defense Industry PB Ratio Median Figure of 8 Publicly-Listed Aerospace & Defense Companies 1.77x
India Market PB Ratio Median Figure of 3,626 Publicly-Listed Companies 1.12x
NSEI:BDL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NSEI:BDL Share Price ÷ Book Value per Share (both in INR)

= 288.85 ÷ 113.92

2.54x

* Primary Listing of Bharat Dynamics.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bharat Dynamics is overvalued based on assets compared to the IN Aerospace & Defense industry average.
X
Value checks
We assess Bharat Dynamics's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. Bharat Dynamics has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

BDL Future Performance

 How is Bharat Dynamics expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Bharat Dynamics, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-8.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Bharat Dynamics expected to grow at an attractive rate?
  • Bharat Dynamics's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Bharat Dynamics's earnings are expected to decrease over the next 1-3 years, this is below the India market average.
  • Unable to compare Bharat Dynamics's revenue growth to the India market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NSEI:BDL Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:BDL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -8.1%
India Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 3.3%
Global Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 5.8%
India Market Earnings Growth Rate Market Cap Weighted Average 18.7%
India Market Revenue Growth Rate Market Cap Weighted Average 11.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:BDL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:BDL Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-12-31 42,024 6,351
2018-09-30 39,870 4,530
2018-06-30 42,610 5,085
2018-03-31 45,763 9,766 5,282
2017-03-31 45,353 -4,199 5,241
2016-03-31 40,788 2,843 5,621

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Bharat Dynamics's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Bharat Dynamics is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:BDL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Bharat Dynamics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:BDL Past Financials Data
Date (Data in INR Millions) EPS *
2018-12-31 34.64
2018-09-30 24.71
2018-06-30 26.69
2018-03-31 26.65
2017-03-31 24.51
2016-03-31 20.16

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Bharat Dynamics will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Bharat Dynamics's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Global market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Bharat Dynamics has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

BDL Past Performance

  How has Bharat Dynamics performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Bharat Dynamics's growth in the last year to its industry (Aerospace & Defense).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Bharat Dynamics's year on year earnings growth rate has been positive over the past 5 years.
  • Bharat Dynamics's 1-year earnings growth exceeds its 5-year average (20.5% vs 7.1%)
  • Bharat Dynamics's earnings growth has exceeded the IN Aerospace & Defense industry average in the past year (20.5% vs -13.5%).
Earnings and Revenue History
Bharat Dynamics's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Bharat Dynamics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:BDL Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 42,024.18 6,351.19 5,769.48
2018-09-30 39,869.56 4,529.94 5,748.96
2018-06-30 42,609.60 5,085.43 5,587.10
2018-03-31 45,762.57 5,281.52 5,377.53
2017-03-31 45,353.25 5,240.56 4,524.26
2016-03-31 40,787.58 5,620.69 3,324.84
2015-03-31 27,820.14 4,185.69 3,177.71
2014-03-31 17,740.53 3,455.14 3,117.31
2013-03-31 10,720.13 2,884.03 2,641.53

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Bharat Dynamics has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Bharat Dynamics used its assets more efficiently than the IN Aerospace & Defense industry average last year based on Return on Assets.
  • Bharat Dynamics has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Bharat Dynamics's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Aerospace & Defense industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Bharat Dynamics has a total score of 6/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

BDL Health

 How is Bharat Dynamics's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Bharat Dynamics's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Bharat Dynamics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Bharat Dynamics's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Bharat Dynamics's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Bharat Dynamics has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Bharat Dynamics Company Filings, last reported 3 months ago.

NSEI:BDL Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 20,828.24 0.00 24,750.79
2018-09-30 20,828.24 0.00 24,750.79
2018-06-30 19,563.80 0.00 6,063.05
2018-03-31 19,563.80 0.00 6,063.05
2017-03-31 21,949.76 0.00 17,525.98
2016-03-31 18,512.38 0.00 32,512.69
2015-03-31 15,335.81 0.00 37,490.32
2014-03-31 12,179.66 0.00 43,382.53
2013-03-31 9,532.99 0.00 39,656.40
  • Bharat Dynamics has no debt.
  • Bharat Dynamics has not taken on any debt in the past 5 years.
  • Bharat Dynamics has no debt, it does not need to be covered by operating cash flow.
  • Bharat Dynamics has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Bharat Dynamics's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Bharat Dynamics has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

BDL Dividends

 What is Bharat Dynamics's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.52%
Current annual income from Bharat Dynamics dividends.
If you bought ₹2,000 of Bharat Dynamics shares you are expected to receive ₹50 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Bharat Dynamics's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.49%).
  • Bharat Dynamics's dividend is above the markets top 25% of dividend payers in India (1.92%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:BDL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
India Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 2.4%
India Market Average Dividend Yield Market Cap Weighted Average of 1399 Stocks 1.3%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 1.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:BDL Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2019-03-18 7.290 2.519
2018-11-12 10.500 3.867
2018-07-20 7.290 2.264
2018-05-30 7.290 1.913
2018-03-23 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • It is too early to tell whether Bharat Dynamics has stable dividend payments.
  • Bharat Dynamics only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Bharat Dynamics's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Bharat Dynamics's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Bharat Dynamics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Bharat Dynamics has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

BDL Management

 What is the CEO of Bharat Dynamics's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Siddharth Mishra
TENURE AS CEO 0.1 years
CEO Bio

Commodore Siddharth Mishra is a Chairman and Managing Director at Bharat Dynamics Limited since March 1, 2019. Commodore Mishra was commissioned in the Electrical Branch of Indian Navy in the year 1985. Post retirement from Navy in Sep 2016, Commodore Mishra served ECIL, a Schedule “A” Central Public Sector Enterprise. Prior to joining BDL, he was General Manager (Defence) at ECIL, Hyderabad. Commodore Mishra is a B.Tech in Electrical Engineering, an MSc in Defence Studies and Master of Management Science. He is an alumnus of the prestigious Naval Academy and Naval College of Engineering, Lonavala. In his distinguished career, Commodore Mishra has held varied Operational and Staff appointments, in addition to heading four major groups at ECIL. At Naval Headquarters, he was instrumental in inducting and managing state of the art technology, including policy framing and was in the core team and represented Indian Navy for induction of the Air Craft Carrier into the Services. At Naval Dockyard, Visakhapatnam, he planned, coordinated and over saw execution of refits and modernization of ships and submarines. He also controlled and managed the flawless operation/ maintenance/ asset management/infrastructure development and resource planning of the Dockyard. As a member of the Top Management of ECIL, he has provided excellent leadership to steer various ’Make-in-India’ programme in defence and other sectors, that has paid rich dividend to the Nation.

CEO Compensation
  • Insufficient data for Siddharth to compare compensation growth.
  • Insufficient data for Siddharth to establish whether their remuneration is reasonable compared to companies of similar size in India.
Management Team Tenure

Average tenure of the Bharat Dynamics management team in years:

0.6
Average Tenure
  • The average tenure for the Bharat Dynamics management team is less than 2 years, this suggests a new team.
Management Team

S. Piramanayagam

TITLE
Director of Finance
COMPENSATION
₹5M
AGE
58
TENURE
4.3 yrs

N. Nagaraja

TITLE
Company Secretary & Compliance Officer
COMPENSATION
₹1M

V. Prasad

TITLE
Director of Production & Director
COMPENSATION
₹5M

Siddharth Mishra

TITLE
Chairman & MD
TENURE
0.1 yrs

N. Diwakar

TITLE
Director of Technical & Director
TENURE
0.6 yrs

M. Eshwar

TITLE
Chief Vigilance Officer

L. Dhanunjaya

TITLE
Executive Director of Bg

N. Raju

TITLE
Executive Director of P & A
Board of Directors Tenure

Average tenure and age of the Bharat Dynamics board of directors in years:

2.4
Average Tenure
58
Average Age
  • The average tenure for the Bharat Dynamics board of directors is less than 3 years, this suggests a new board.
Board of Directors

V. Prasad

TITLE
Director of Production & Director
COMPENSATION
₹5M
TENURE
3.6 yrs

Siddharth Mishra

TITLE
Chairman & MD
TENURE
0.1 yrs

N. Diwakar

TITLE
Director of Technical & Director
TENURE
0.6 yrs

Sushama Dabak

TITLE
Independent Director
COMPENSATION
₹350K
TENURE
3.3 yrs

S. Piramanayagam

TITLE
Director of Finance
COMPENSATION
₹5M
AGE
58
TENURE
4.3 yrs

Ajay Pandey

TITLE
Independent Director
COMPENSATION
₹260K
TENURE
3.3 yrs

Ajay Nath

TITLE
Independent Director
COMPENSATION
₹170K
TENURE
1.6 yrs

K. Sampath

TITLE
Independent Director
COMPENSATION
₹110K
AGE
58
TENURE
1.6 yrs

Ashwani Mahajan

TITLE
Government Nominee Director
AGE
55
TENURE
3.3 yrs

K. Narasimha Murthy

TITLE
Independent Director
COMPENSATION
₹240K
TENURE
1.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
X
Management checks
We assess Bharat Dynamics's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Bharat Dynamics has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

BDL News

Simply Wall St News

Bharat Dynamics Limited (NSE:BDL) Will Pay ₹5.25 In Dividends

Important news for shareholders and potential investors in Bharat Dynamics Limited (NSE:BDL): The dividend payment of ₹5.25 per share will be distributed to shareholders on 16 April 2019, and the stock will begin trading ex-dividend at an earlier date, 26 March 2019. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I take a deeper dive into Bharat Dynamics's latest financial data to analyse its dividend attributes. … When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:?

Simply Wall St -

Does Bharat Dynamics Limited (NSE:BDL) Have A Place In Your Portfolio?

Does Bharat Dynamics tick all the boxes of a great dividend stock? … 5 questions to ask before buying a dividend stock … Whenever I am looking at a potential dividend stock investment, I always check these five metrics:

Simply Wall St -

A Closer Look At Bharat Dynamics Limited's (NSE:BDL) Impressive ROE

Our data shows Bharat Dynamics has a return on equity of 22% for the last year. … That means that for every ₹1 worth of shareholders' equity, it generated ₹0.22 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Bharat Dynamics Limited’s (NSE:BDL) 21% ROCE Any Good?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

Here's What Bharat Dynamics Limited's (NSE:BDL) P/E Ratio Is Telling Us

We'll look at Bharat Dynamics Limited's (NSE:BDL) P/E ratio and reflect on what it tells us about the company's share price. … Bharat Dynamics has a price to earnings ratio of 11.44, based on the last twelve months. … How Do I Calculate Bharat Dynamics's Price To Earnings Ratio

Simply Wall St -

Is Bharat Dynamics Limited (NSE:BDL) A Great Dividend Stock?

Bharat Dynamics Limited (NSE:BDL) has started paying a dividend to shareholders. … Let's dig deeper into whether Bharat Dynamics should have a place in your portfolio. … When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:

Simply Wall St -

Should We Be Delighted With Bharat Dynamics Limited's (NSE:BDL) ROE Of 26%?

This article is for those who would like to learn about Return On Equity (ROE). … One way to conceptualize this, is that for each ₹1 of shareholders' equity it has, the company made ₹0.26 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Should You Be Happy With Bharat Dynamics Limited's (NSE:BDL) Performance Lately?

When Bharat Dynamics Limited (NSE:BDL) released its most recent earnings update (30 June 2018), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … Did BDL's recent earnings growth beat the long-term trend and the industry. … BDL's trailing twelve-month earnings (from 30 June 2018) of ₹5.09b has

Simply Wall St -

Is Bharat Dynamics Limited (NSE:BDL) Attractive At Its Current PE Ratio?

Although some investors may jump to the conclusion that this is a great buying opportunity, understanding the assumptions behind the P/E ratio might change your mind. … I will deconstruct the P/E ratio and highlight what you need to be careful of when using the P/E ratio … Check out our latest analysis for Bharat Dynamics

Simply Wall St -

Should Bharat Dynamics Limited (NSE:BDL) Be Part Of Your Portfolio?

A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … Recently, Bharat Dynamics Limited (NSE:BDL) has returned an average of 2.00% per year to shareholders in terms of dividend yield. … Does Bharat Dynamics tick all the boxes of a great dividend stock?

Simply Wall St -

BDL Company Info

Description

Bharat Dynamics Limited manufactures and sells guided missiles and related defense equipment in India. It offers surface to air missiles, anti-tank guided missiles, mechanized infantry weapons, underwater weapons, launchers, counter measure dispensing systems, torpedos, and submarine fired decoys. The company was founded in 1970 and is headquartered in Hyderabad, India.

Details
Name: Bharat Dynamics Limited
BDL
Exchange: NSEI
Founded: 1970
₹54,452,859,375
183,281,250
Website: http://www.bdl-india.in
Address: Bharat Dynamics Limited
Plot No. 38-39, TSFC Building,
Near ICICI Towers,
Hyderabad,
Andhra Pradesh, 500032,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NSEI BDL Equity Shares National Stock Exchange of India IN INR 23. Mar 2018
BSE 541143 Equity Shares Mumbai Stock Exchange IN INR 23. Mar 2018
Number of employees
Current staff
Staff numbers
3,035
Bharat Dynamics employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 13:09
End of day share price update: 2019/04/18 00:00
Last earnings filing: 2019/02/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.