BEL · NSE
Bharat Electronics
Phase 4 · Capital Return
Profitable, cash-generative, and returning capital to shareholders through dividends.
Phase 1
Startup
Phase 2
Hyper Growth
Phase 3
Operating Leverage
Phase 4
Capital Return
Phase 5
Decline
Revenue growth (YoY)
16.2%
Mar 2026 vs Mar 2025
Net profit growth (YoY)
13.9%
Operating cash flow
₹1541 Cr
Mar 2026
Returning capital?
Yes
Last dividend ex-date 2026-08-12
Revenue, profit & operating cash flow
₹ crore, by fiscal year
RevenueNet profitOperating cash flowRevenue ends at ₹27610 Cr. Net profit ends at ₹6062 Cr. Operating cash flow ends at ₹1541 Cr.
Judge management on
Capital allocation — are dividends sized sensibly against free cash flow?
Key metric to watch
Free cash flow and the dividend payout ratio.
Typically valued on
Price/earnings and dividend yield.
| Fiscal year | Revenue | Net profit | Operating cash flow |
|---|---|---|---|
| Mar 2021 | ₹14109 Cr | ₹2100 Cr | ₹5093 Cr |
| Mar 2022 | ₹15368 Cr | ₹2400 Cr | ₹4207 Cr |
| Mar 2023 | ₹17734 Cr | ₹2986 Cr | ₹1199 Cr |
| Mar 2024 | ₹20268 Cr | ₹3985 Cr | ₹4659 Cr |
| Mar 2025 | ₹23769 Cr | ₹5323 Cr | ₹564 Cr |
| Mar 2026 | ₹27610 Cr | ₹6062 Cr | ₹1541 Cr |
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