Bharat Dynamics Limited

NSEI:BDL Stock Report

Market Cap: ₹354.2b

Bharat Dynamics Valuation

Is BDL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BDL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BDL (₹966.4) is trading above our estimate of fair value (₹149.34)

Significantly Below Fair Value: BDL is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BDL?

Key metric: As BDL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for BDL. This is calculated by dividing BDL's market cap by their current earnings.
What is BDL's PE Ratio?
PE Ratio64x
Earnings₹5.54b
Market Cap₹354.25b

Price to Earnings Ratio vs Peers

How does BDL's PE Ratio compare to its peers?

The above table shows the PE ratio for BDL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average47x
MAZDOCK Mazagon Dock Shipbuilders
32x-2.0%₹822.0b
GRSE Garden Reach Shipbuilders & Engineers
42x16.1%₹161.4b
DATAPATTNS Data Patterns (India)
69.3x24.8%₹128.3b
500049 Bharat Electronics
44.9x15.0%₹2.0t
BDL Bharat Dynamics
64x22.4%₹354.2b

Price-To-Earnings vs Peers: BDL is expensive based on its Price-To-Earnings Ratio (64x) compared to the peer average (47x).

Price to Earnings Ratio vs Industry

How does BDL's PE Ratio compare vs other companies in the Asian Aerospace & Defense Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
BDL 64.0xIndustry Avg. 47.9xNo. of Companies8PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BDL is expensive based on its Price-To-Earnings Ratio (64x) compared to the Asian Aerospace & Defense industry average (47.9x).

Price to Earnings Ratio vs Fair Ratio

What is BDL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BDL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio64x
Fair PE Ratio48.2x

Price-To-Earnings vs Fair Ratio: BDL is expensive based on its Price-To-Earnings Ratio (64x) compared to the estimated Fair Price-To-Earnings Ratio (48.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BDL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹966.40
₹1,377.60
+42.5%
21.9%₹1,816.00₹870.00n/a5
Nov ’25₹1,115.85
₹1,502.20
+34.6%
22.3%₹1,816.00₹870.00n/a5
Oct ’25₹1,127.20
₹1,502.20
+33.3%
22.3%₹1,816.00₹870.00n/a5
Sep ’25₹1,302.90
₹1,511.00
+16.0%
17.4%₹1,816.00₹1,005.00n/a6
Aug ’25₹1,450.25
₹1,511.17
+4.2%
16.5%₹1,745.00₹1,005.00n/a6
Jul ’25₹1,615.30
₹1,327.30
-17.8%
32.8%₹1,745.00₹632.50n/a5
Jun ’25₹1,557.35
₹1,013.75
-34.9%
29.9%₹1,630.00₹632.50n/a6
May ’25₹988.78
₹910.00
-8.0%
14.8%₹1,022.50₹632.50n/a6
Apr ’25₹886.95
₹868.00
-2.1%
19.1%₹1,019.00₹545.00n/a7
Mar ’25₹920.38
₹868.00
-5.7%
19.1%₹1,019.00₹545.00n/a7
Feb ’25₹852.03
₹845.17
-0.8%
20.0%₹1,019.00₹545.00n/a6
Jan ’25₹863.33
₹697.60
-19.2%
5.0%₹750.00₹648.00n/a5
Dec ’24₹612.20
₹669.25
+9.3%
4.9%₹710.00₹615.00n/a6
Nov ’24₹492.55
₹644.70
+30.9%
10.9%₹715.00₹524.00₹1,115.855
Oct ’24₹515.65
₹629.70
+22.1%
9.7%₹707.00₹524.00₹1,127.205
Sep ’24₹571.75
₹631.10
+10.4%
9.9%₹714.00₹524.00₹1,302.905
Aug ’24₹612.23
₹620.00
+1.3%
12.7%₹714.00₹478.50₹1,450.255
Jul ’24₹560.13
₹596.50
+6.5%
11.8%₹662.50₹478.50₹1,615.304
Jun ’24₹555.60
₹577.75
+4.0%
10.3%₹630.00₹478.50₹1,557.354
May ’24₹502.65
₹605.50
+20.5%
4.6%₹650.00₹577.00₹988.784
Apr ’24₹494.35
₹603.63
+22.1%
4.6%₹650.00₹577.00₹886.954
Mar ’24₹483.18
₹576.13
+19.2%
10.9%₹650.00₹477.50₹920.384
Feb ’24₹454.75
₹534.00
+17.4%
28.5%₹698.50₹287.50₹852.034
Jan ’24₹472.05
₹534.00
+13.1%
28.5%₹698.50₹287.50₹863.334
Dec ’23₹482.25
₹534.00
+10.7%
28.5%₹698.50₹287.50₹612.204
Nov ’23₹484.18
₹492.50
+1.7%
30.1%₹698.50₹287.50₹492.554

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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