Document Dates

03 September 2026 (AGM Notice) & 28 May 2026 (Auditor's Report)

Financial Performance Summary

For FY 2025-26, Bharat Dynamics Limited reported significant financial results:

  • Revenue from Operations: ₹2,441.79 crore (FY25: ₹3,345.05 crore) - 27% decrease
  • Profit Before Tax: ₹567.82 crore (FY25: ₹748.76 crore)
  • Profit After Tax: ₹420.34 crore (FY25: ₹549.65 crore) - 24% decrease
  • Basic EPS: ₹11.47 per share (FY25: ₹14.99 per share)
  • Net Profit Margin: 17.21% (improved from 16.43% in FY25)

Key Operational Highlights

Order Book & Business Visibility

The company maintains a strong order book of ₹26,176 crore as of 31 March 2026, providing revenue visibility for the next 4-5 years. During FY25-26, BDL received new orders worth approximately ₹5,909 crore. The company achieved export turnover of ₹702.23 crore and has opened a representative office in Armenia to improve customer interface in Western Asia.

Production & R&D Investment

Value of Production stood at ₹3,214.85 crore with material consumption of ₹1,995.55 crore (₹1,706 crore indigenous, ₹290 crore imported). The company spent ₹198.23 crore on R&D, representing 8.12% of sales turnover, demonstrating focus on indigenous development and technology absorption.

Capital Expenditure & Expansion

During the year, the company spent ₹228.75 crore on Capital Expenditure programs for modernization and infrastructure development, primarily for the Jhansi Unit, Ibrahimpatnam Unit, and Visakhapatnam Unit expansion.

Significant Financial Events

Dividend Declaration

The Board recommended a Final Dividend of ₹0.40 per equity share (face value ₹5 each) amounting to ₹14.66 crore for FY 2025-26. The company had already paid an interim dividend of ₹4.50 per share amounting to ₹164.95 crore, making the total dividend for FY25-26 ₹4.90 per equity share.

Capital Structure Changes

The Board completed sub-division of equity shares from ₹10 to ₹5 face value, approved by members on 29 April 2024 with record date of 24 May 2024. Authorized share capital comprises 40,00,00,000 equity shares of ₹5 each.

Impairment & Provisions

  • Provided impairment of ₹227 crore on Amravati leasehold land due to project delays and pending extension from Ministry of Defence
  • Recognized additional provision of ₹228 crore for specific global defense technology contract aimed at gaining exposure to niche technology and global supply chain opportunities

Balance Sheet Position (as of 31 March 2026)

  • Net Worth: ₹4,240.97 crore (increased from ₹4,008.95 crore)
  • Property, Plant & Equipment: ₹96 crore (net carrying amount)
  • Cash & Bank Balances: ₹471 crore (current accounts + deposits)
  • Inventories: ₹463 crore
  • Total Current Assets: ₹2,416 crore
  • Working Capital: ₹6,411.15 crore

Corporate Governance & Compliance

Annual General Meeting

Bharat Dynamics Limited will hold its 56th Annual General Meeting on 28th September 2026 at 03:00 PM through Video Conferencing. The Register of Members will remain closed from 22 September to 28 September 2026 for the AGM and dividend payment. Record Date for dividend is fixed as 21 September 2026.

Board Changes & Leadership

  • Cmde. Sujay Kapoor appointed as Director (Production) w.e.f. 6 March 2026
  • Shri Shailesh Vagerwal appointed as Chairman & MD w.e.f. 9 July 2026
  • Three new Independent Directors appointed: Shri Ankush Munjal, Smt. Vandana Agarwal, and Shri Pankaj Joshi w.e.f. 17 August 2026

Corporate Social Responsibility

The company incurred CSR expenditure of ₹13.45 crore against the obligation of ₹13.27 crore, achieving 100% of the target amount required under the Companies Act, 2013.

Ownership Structure

Government of India holds 74.93% stake (27,46,51,054 equity shares) with no change in promoter holding during the year. Paid-up capital stands at ₹183.28 crore (36,65,62,500 equity shares of ₹5 each).

Financial Ratios & Metrics

  • Current Ratio: 2.01 (down from 2.38 in FY25)
  • Return on Equity: 10.19% (down from 14.38%)
  • Return on Capital Employed: 13.76% (down from 19.35%)
  • Inventory Turnover: 0.67 times (down from 1.45 times)
  • Trade Receivables Turnover: 3.91 times (down from 5.89 times)

The documents were issued pursuant to Regulation 42 of the SEBI Listing Regulations and represent comprehensive disclosure of the company's financial and operational performance for FY 2025-26.