Bharat Electronics (500049) Q4 24/25 earnings summary

Executive summary

• Turnover for FY25 rose 16.17% year-over-year to INR 23,024 crore, with profit after tax up 31.55% to INR 5,288 crore.

• EBITDA margin improved to 29.39% from 25.22% last year, and EPS increased to INR 7.23 from INR 5.50.

• Order book as of April 1, 2025, stands at INR 71,650 crore, indicating strong demand.

• Board recommended a final dividend of INR 0.90 per equity share, subject to shareholder approval.

Financial highlights

• Revenue reached INR 23,024 crore, up from INR 19,820 crore year-over-year; consolidated revenue for FY25 was INR 23,76,875 lakh.

• Profit before tax was INR 7,090 crore, up from INR 5,335 crore; profit after tax was INR 5,288 crore, up from INR 4,020 crore.

• Standalone EPS for FY25: INR 7.23, up from INR 5.50; consolidated EPS: INR 7.28, up from INR 5.45.

• Exports grew to $100 million in FY25, with a target of $120 million for FY26.

Outlook and guidance

• FY26 guidance: revenue growth of ~15%, EBITDA margin around 27%, order inflow above INR 27,000 crore.

• R&D investment planned at INR 1,600 crore+, CapEx above INR 1,000 crore.

• Five-year revenue growth targeted at 15-17.5% CAGR, profit growth above 20%.

• No material financial impact from ongoing conflicts in Israel as of the reporting date.