Bharat Electronics Ltd (BEL) shares surged over 3% in morning trade after JPMorgan reaffirmed its ‘Overweight’ rating and raised the target price to ₹445. This boost comes on the back of BEL’s strong Q4 performance and optimistic guidance for FY26.
In Q4, BEL reported an 18.4% year-on-year rise in net profit to ₹2,127 crore. Revenue increased by 6.8%, reaching ₹9,153 crore, while EBITDA jumped 23.2% to ₹2,816 crore. The company’s margins saw a significant improvement, hitting 30.8%.
Looking ahead, BEL’s management has projected a 15% revenue growth for FY26, backed by order inflows exceeding ₹27,000 crore. They also expect EBITDA margins to expand to 27%, reflecting efficient cost management and strong operational performance.
JPMorgan highlighted BEL’s strategic advantage as India’s defence sector experiences a structural increase in capital expenditure. The brokerage noted BEL’s expanding role in indigenous defence supply chains, strengthened by recent product wins validated during recent conflicts.
Bharat Electronics shares opened at ₹366.90, reaching a high of ₹378.00 and a low of ₹364.00 during the trading session. The stock is currently trading near its 52-week high of ₹378.00, reflecting strong market confidence. Over the past year, the share price has seen a low of ₹230.00, indicating significant growth.
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