Bharat Electronics Limited (BEL) is India’s premier defence electronics company, established in 1954 and headquartered in Bengaluru. A Navratna public sector undertaking under the Ministry of Defence, Government of India, BEL designs, develops, and manufactures advanced electronic systems for the Indian Armed Forces, including radars, missile systems, communication networks, electronic warfare suites, and naval systems. With over 80% of its revenue derived from defence and a growing focus on indigenisation under the ‘Make in India’ initiative, BEL is strategically positioned to benefit from India’s rising defence budget and import substitution policies. As of January 2026, it remains a high-quality, debt-free PSU with strong return ratios and consistent order inflows. This article provides a data-driven outlook on the Bharat Electronics share price target 2026–2030.
Bharat Electronics: Company Overview
- Founded: 1954
- Chairman & Managing Director: Shri Manoj Jain
- NSE Symbol: BEL
- Core Business: Defence electronics (81%), Civilian & Aerospace (19%)
- Market Position: India’s largest defence electronics manufacturer; supplies to the Army, Navy, Air Force, DRDO, ISRO, and global allies
BEL operates 29 Strategic Business Units (SBUs), including new verticals in cyber security, unmanned systems, and arms & ammunition. It is also expanding into smart city infrastructure and homeland security solutions.
Bharat Electronics: Key Financial Snapshot
| Metric | Value |
|---|---|
| Current Share Price | ₹410 |
| Market Capitalization | ₹2,99,810.58 Cr |
| No. of Shares Outstanding | 730.98 Cr |
| 52-Week High / Low | ₹340 / ₹179 |
| P/E Ratio (TTM) | 52.82 |
| P/B Ratio | 14.08 |
| EPS (TTM) | ₹7.77 |
| Book Value (TTM) | ₹29.12 |
| ROE | 29.56% |
| ROCE | 39.70% |
| Dividend Yield | 0.58% |
| Face Value | ₹1 |
| Cash | ₹9,397.30 Cr |
| Debt | ₹0 Cr |
| Promoter Holding | 51.14% |
| Sales Growth (YoY) | 17.30% |
| Profit Growth (YoY) | 31.55% |
Bharat Electronics Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹430 – ₹470 |
| 2027 | ₹460 – ₹510 |
| 2028 | ₹490 – ₹560 |
| 2029 | ₹520 – ₹610 |
| 2030 | ₹550 – ₹670 |
Bharat Electronics Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹430 | ₹470 |
BEL reported 31.55% YoY profit growth in FY2025, driven by strong order execution from the Ministry of Defence and improved operational efficiency. With zero debt, ₹9,397 Cr in cash, and a ROCE of 39.70%, the company exemplifies capital efficiency. Trading at a P/E of 52.82x and P/B of 14.08x, the stock reflects a premium valuation typical of high-growth defence PSUs. A 2026 target range of ₹430–₹470 assumes sustained order book momentum and no major project delays.
Bharat Electronics Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹460 | ₹510 |
If BEL sustains 20–25% earnings growth and benefits from India’s defence capex push (projected to exceed ₹2.5 lakh Cr annually by 2027), EPS could reach ₹8.50–₹9.00 by FY27. Assuming a P/E of 50–52x, the 2027 target range of ₹460–₹510 is justified.
Bharat Electronics Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹490 | ₹560 |
By 2028, benefits from new SBUs (cyber, drones, seekers) and export potential should reflect in margins. A P/E of 52–54x on projected EPS of ₹9.20–₹10.20 supports the ₹490–₹560 band.
Bharat Electronics Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹520 | ₹610 |
Long-term tailwinds include India’s military modernisation, geopolitical tensions, and global interest in Indian defence tech. If competition doesn’t erode pricing, EPS could reach ₹10.50–₹11.50 by FY29. At a P/E of 52–55x, the 2029 target is ₹520–₹610.
Bharat Electronics Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹550 | ₹670 |
Over a five-year horizon, BEL’s appeal lies in strategic national importance + self-reliance in defence tech—not just financials. If it maintains ROE above 28% and dividends gradually increase, investor confidence will strengthen. A terminal P/E of 55–58x on FY30 EPS (~₹10.00–₹11.50) justifies the ₹550–₹670 range.
Bharat Electronics: Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Promoters (Govt. of India) | 51.14% |
| Domestic Institutional Investors (DII) | 20.48% |
| Foreign Institutional Investors (FII) | 18.51% |
| Public & Others | 9.87% |
High promoter holding ensures policy alignment with national security goals. Strong institutional ownership (39%) reflects analyst coverage and liquidity.
Bharat Electronics: Strengths vs Risks
Strengths:
- Zero debt and ₹9,397 Cr cash provide unmatched financial flexibility
- Exceptional ROCE (39.70%) and ROE (29.56%)
- Monopoly-like position in critical defence electronics
- Consistent order inflows (₹57,000+ Cr order book as of Q3 FY26)
Risks:
- High P/E leaves little room for execution misses
- Dependence on government budgets and procurement cycles
- Low dividend yield (0.58%) limits income appeal
- Export potential is still nascent compared to global peers
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | Moderate |
| Ideal Time Horizon | 5+ years |
| Volatility | Lower than market average (PSU stability) |
| Dividend/Income Potential | Low (0.58% yield) |
| Best For | Investors seeking exposure to India’s defence modernisation and strategic autonomy |
FAQs
Is BEL a good stock to buy?
Yes—for long-term portfolios focused on defence, strategic PSUs, and Make in India. Avoid if you seek low-valuation or high-dividend stocks.
Is BEL a debt-free company?
Yes. BEL has zero debt and ₹9,397 Cr in cash—making it one of India’s strongest balance sheets among PSUs.
What is the prediction of BEL in 2026?
Based on fundamentals, the Bharat Electronics share price target for 2026 is ₹430 – ₹470.
Who is the owner of Bharat Electronics Ltd.?
Bharat Electronics is a Government of India enterprise, with 51.14% promoter holding held by the Ministry of Defence.
Final Verdict
Bharat Electronics remains India’s crown jewel in defence electronics—a rare blend of strategic indispensability, financial strength, and growth visibility. While not cheap, its premium valuation is backed by mission-critical relevance and execution consistency.
Our Bharat Electronics share price target 2026–2030 (₹430 to ₹670) reflects steady earnings growth, multiple stability, and sustained investor confidence. Upside is limited by valuation; downside is cushioned by order book visibility and zero leverage.
Disclaimer: Price targets are estimates based on publicly available data and sector analysis. They are not investment advice. Consult a SEBI-registered advisor before making decisions.
Sources
- Screener.in – BEL Consolidated Page (FY2025 + TTM)
- Finology Ticker – BEL Financials & Analysis
- Groww.in – Bharat Electronics Stock Profile
- BEL Investor Presentation (Q3 FY26, Jan 2026)
- Ministry of Defence, Government of India – Defence Production Policy 2023
