Bharat Electronics Limited (BEL.NS) stock analysis

In our weekly check, Bharat Electronics Limited is graded B (A to F). Of 25 checks on debt, profit, cash flow and trend: 19 pass, warnings: 2, red flags: 4.

About Bharat Electronics Limited

Bharat Electronics Limited is an Industrials company (Aerospace & Defense) based in India, listed on NSE as BEL.NS.

What our checks show for BEL.NS

Red flags

• The gross margin fell by 6.1 points, to 34.6%: costs are rising faster than prices.
• Operating cash flow is only 0.35x net profit: part of the reported profit does not arrive as cash.
• The stock has fallen as much as 74% from a peak. Would you have held through that?
• Return on capital (ROCE) is zero or negative: the business does not earn on the money put into it.

Warning signs

• Free cash flow is only 4% of revenue.
• The price is 43.1 times earnings (P/E): the market already pays for a lot of future growth.

Strengths

• Debt is low: 0x equity.
• Operating profit covers interest 1179 times over.
• The net margin rose by 5.8 points over 5 years, to 21.4%.
• Analysts expect earnings per share to grow about 17.3% a year over the next years.
• Analysts expect revenue to grow about 15.4% a year over the next years.
• Revenue grew 17.4% a year over the last 3 years.

Next earnings report: 2026-10-30

Similar companies

SPCX · ASELS.IS · 010140.KS · 009540.KS · SAAB-B.ST · GE

Questions

What grade does Bharat Electronics Limited (BEL.NS) have?

In our weekly check, Bharat Electronics Limited is graded B (A to F). Of 25 checks on debt, profit, cash flow and trend: 19 pass, warnings: 2, red flags: 4. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of BEL.NS stock?

This week's biggest flags for Bharat Electronics Limited: Gross margin falling, Profits not backed by cash, Deep past fall. In total 6 of 25 checks show a warning or a red flag.

What does Bharat Electronics Limited do?

Bharat Electronics Limited is an Industrials company (Aerospace & Defense) based in India, listed on NSE as BEL.NS.

When does Bharat Electronics Limited report earnings next?

The next earnings report is expected on 2026-10-30. We re-run the checks every week, so the grade can change after it.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-24

Open the full analysis