Capital Goods · NSE: BEL
Intrynsic's multi-model valuation estimates Bharat Electronics Limited's fair value at ₹514 per share (range ₹129–₹540) against a market price of ₹405 - a gap of +26.9% (updated 24 July 2026). This is an estimated fair value based on stated assumptions, not investment advice.
Market price
₹405
close of 24 Jul 2026
Est. fair value
₹514
₹129–₹540
Gap
+26.9%
price vs estimate
Trading ~27% below our estimated fair-value range. Assumptions and per-model workings are below.
Bharat Electronics makes radars, missiles systems and defence electronics for the Indian military. A state-owned company, it wins most orders directly from the defence ministry.
Capital Goods · Industrial Manufacturing
Over the last 3 years, revenue grew 15.9%/yr and profit grew 26.6%/yr.
Every ₹100 of shareholder money earned ₹25.3 in profit last year, vs a sector median of 11.2%.
It holds more cash than debt.
The market price is below our estimated fair-value range (based on stated assumptions).
About ₹20 of every ₹100 of reported profit turned into free cash (median, last 5 years); operating cash flow was positive in 5 of 5 years.
Intrynsic values Bharat Electronics Limited with 3 independent models and blends them into one estimated fair-value range. Every number below is an estimate based on the stated assumptions - change the assumptions and the estimate changes.
| Model | Estimated value | vs price | Weight |
|---|---|---|---|
| DCFFuture Cash Flows Method | ₹129 | -68% | - |
| EV/EBITDAIndustry Comparison Method | ₹540 | +33% | - |
| P/E MultipleEarnings Multiple Method | ₹514 | +27% | - |
Reverse DCF: today's market price implies the company must grow free cash flow about 60.0% a year for the next decade - versus 15.8% historical revenue growth.
| Revenue | ₹27,610 Cr | |
| Net profit | ₹6,062 Cr | |
| EPS | ₹8.29 | |
| Free cash flow | ₹556 Cr | |
| ROE (latest) | 25.3% | |
| Revenue growth (CAGR) | 13.8% | |
| Profit growth (CAGR) | 16.6% |
Intrynsic's multi-model valuation estimates Bharat Electronics Limited's fair value at ₹514 per share (range ₹129–₹540), last updated 24 July 2026. This is an estimate based on stated assumptions, not investment advice.
Bharat Electronics Limited trades at ₹405 against Intrynsic's estimated fair value of ₹514 - the market price is 27% below the estimate, i.e. below our estimated fair-value range. Different assumptions produce different estimates; see the model breakdown above.
Bharat Electronics Limited trades at about 48.9 times its latest annual earnings per share.
Bharat Electronics makes radars, missiles systems and defence electronics for the Indian military. A state-owned company, it wins most orders directly from the defence ministry.
Intrynsic runs 3 valuation models for Bharat Electronics Limited (DCF, EV/EBITDA, P/E Multiple) and blends them into one estimated fair-value range. Every assumption - growth, discount rate, terminal value - is shown openly on this page.
Disclaimer: Intrynsic provides educational and informational analysis only. Fair-value figures are estimates based on stated assumptions - they are not investment advice, research recommendations, or an offer to transact in any security. Intrynsic is not a SEBI-registered investment adviser or research analyst. Markets carry risk; please do your own research or consult a registered adviser before making investment decisions. Prices shown may be delayed end-of-day values. Terms · Privacy