Capital Goods · NSE: BEL
Intrynsic's multi-model valuation estimates Bharat Electronics Limited's fair value at ₹421 per share (range ₹130–₹427) against a market price of ₹362 (close of 23 Oct 2026): the estimate is 16% above the price. Estimate updated 23 October 2026. This is an estimated fair value based on stated assumptions, not investment advice.
Market price
₹362
close of 23 Oct 2026
Est. fair value
₹421
₹130–₹427
Estimate vs price
+16.2%
estimate above price
Below fair-value est.
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.
FY26
FY26
FY26
FY26
Over the last 3 years, revenue grew 15.9%/yr and profit grew 26.6%/yr. Over 9 years, revenue grew 13.8%/yr and profit 16.6%/yr.
Every ₹100 of shareholder money earned ₹25.3 in profit last year, vs a sector median of 11.5%.
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's multi-model valuation estimates Bharat Electronics Limited's fair value at ₹421 per share (range ₹130–₹427), last updated 23 October 2026. This is an estimate based on stated assumptions, not investment advice.
Bharat Electronics Limited trades at ₹362 against Intrynsic's estimated fair value of ₹421 - the market price is 16% 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 43.7 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. The models rely on assumptions (discount rates, growth, multiples) that may prove wrong and on past financials, which do not guarantee future results; prices also move on macro factors the models don't capture. 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