Who is the CEO of Bharat Electronics Limited (BEL)?
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Bhanu Prakash Srivastava is the Chairman and Managing Director (CMD) of BEL as of May 2025. He started the position on January 1, 2023.
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India’s defence sector is undergoing rapid transformation, and Bharat Electronics Limited (BEL) has played a pivotal role in this evolution. As a leading public sector undertaking under the Ministry of Defence, BEL has been at the forefront of manufacturing critical electronic systems for the armed forces for over six decades. It is a Navratna PSU (Public Sector Undertaking) under the Ministry of Defence, India.
Let’s take a closer look at the company’s operations, business model, and how it fits into the larger narrative of India's defence and technology growth.
Operating as a key Navratna Public Sector Undertaking, Bharat Electronics is affiliated with the Indian Ministry of Defence. Being established to provide defence sector electronics, the company grew into an organisation offering a range of products and technologies.
BEL started operations in 1954, making a limited selection of communication equipment. It has helped India progress over the years toward becoming self-reliant in defence electronics. BEL helped India develop by establishing a radar factory in 1966 and introducing electronic voting machines, which improved the conduct of elections. Its growth highlights India’s developments in defence electronics and now it has offices in different countries to market its products.
Bharat Electronics Limited primarily operates in the fields of Aerospace and Defence Electronics. As a Public Sector company, it is one of the frontline companies in India's precision guard and aerospace automated industries, contributing to the "Aatmanirbhar Bharat" venture. Although the Defence sector remains its mainstay, BEL has also diversified into a few selected non-defence areas.
Designing, creating, and producing cutting-edge electronic systems and products for the armed forces is the main focus of BEL's operations. Among its primary business domains are:
Fire Control Systems and Radars
Systems of Missiles
C4I (Command, Control, Communications, Computers, and Intelligence) systems and military communications
Systems for the Navy
Avionics and Electronic Warfare
Upgrades to Gun/Weapon Systems, Tank Electronics, and Electro Optics.
A clear mission and vision serve as the foundation for BEL's strategic direction and operational excellence, propelling its many accomplishments and influencing its most recent actions.
The vision of BEL is to become a "world-class enterprise in professional electronics." It aims to be a "customer-focused, globally competitive company in defence electronics and in other chosen areas of professional electronics, through quality, technology, and innovation." The company strives to achieve technological leadership, developing internal resources to sustain profitable growth, fostering a learning environment, and maximising shareholders' wealth.
Since its inception over seven decades, BEL has registered several key milestones:
Navratna status: Bestowed with the high-value Navratna status by the Government of India, acknowledging its financial viability and operational independence.
Indigenous development: A trailblazer in indigenous design, development, and production of key defence systems such as the Akash Air Defence Weapon System and Weapon Locating Radar.
Strategic alliances: Invested in major alliances and joint ventures with both national and foreign players to augment technological strength.
Role in National Projects: Outside of defence, BEL's Electronic Voting Machines (EVMs) have transformed India's electoral process, and it played an important role in producing ICU Ventilators during the COVID-19 pandemic.
Bharat Electronics Limited (BEL) has recently hit several milestones:
Large Order Book: BEL reported an order book worth over ₹76,000 crore as of March 2024, providing visibility for future revenues.
Exports: BEL’s international presence is expanding, with exports growing steadily, particularly to friendly foreign countries.
Collaboration: The company is exploring partnerships with start-ups and MSMEs to co-develop solutions under the iDEX (Innovations for Defence Excellence) initiative.
The company’s strong growth is reflected in both its financial record and the latest results.
In Q4 FY25, BEL reported an 18% increase in consolidated PAT, rising from ₹1,797 crore in the previous year to ₹2,127 crore in the current year. The firm recorded a 7% rise in revenue from operations, from ₹8,564 crore in Q4 FY24 to ₹9,150 crore in Q1 FY25.
(Source: Economic Times)
Here are the key financial ratios of Bharat Electronics Ltd (BEL) for FY 2025:
Debt-to-Equity Ratio: 0.00, indicating a debt-free status.
Current Ratio: 1.76, reflecting strong liquidity.
Return on Assets (ROA): 26.85%, showcasing efficient asset utilisation.
Price-to-Earnings (P/E) Ratio: 52.94, suggesting market valuation.
Price-to-Book (P/B) Ratio: 14.06, reflecting investor sentiment.
Earnings Per Share (EPS): ₹7.28, representing shareholder earnings.
Dividend Yield: 0.62%, indicating return on investment.
(Source: Economic Times)
Total income for BEL in March 2025 was ₹24,511.11 crore and the net profit was ₹5,321.44 crore.
(Source: Money Control, Economic Times)
Shares in BEL have appreciated greatly due to strong investor confidence.
On May 23, 2025, BEL’s share price was ₹383.80, up from its value a year prior.
The stock reached its highest price in the past year at ₹389.90 and its lowest at ₹230.00.
As of May 2025, Bharat Electronics Ltd (BEL) has a market capitalisation of ₹2,81,097.54 crore.
Regarding price volatility, BEL's stock has experienced notable fluctuations. For instance, it surged over 4% to hit a 52-week high of ₹379.7 on May 21, 2025, following strong Q4 results and positive brokerage ratings. Conversely, on September 30, 2024, the stock fell 3.4% to ₹262.15 amid broader market declines.
(Source: Economic Times)
Bharat Electronics Limited (BEL), a leading Indian public sector enterprise, offers several strengths. It enjoys solid government backing, ensuring steady defence contracts and revenue. The company is financially robust, debt-free, and consistently delivers returns on equity. BEL has shown a consistent dividend history and invests significantly in research and development. Its diversification into non-defence sectors like space and renewable energy adds to its long-term growth potential.
However, there are some drawbacks. The stock is currently considered overvalued, trading at a high price-to-earnings ratio. Being a government organisation, BEL has a bureaucratic work environment, which may slow decision-making and innovation. Overall, BEL is a financially strong and strategically important company, though it comes with certain structural limitations.
Examining BEL’s basic financial numbers provides insight into its financial performance.
(Source: Live Mint)
BEL distributes consistent dividends every year. In FY25, the company paid an interim dividend of ₹1.50 in March and a final dividend of ₹0.90 in May.
As of March 2025, the shareholding structure is as follows:
Promoters: 51.14%
Foreign Institutional Investors (FII): 17.56%
Mutual Funds: 15.02%
Retail and Others: 10.43%
(Source: Live Mint)
Name | P/E (X) | P/B (X) | ROE % | ROA % | Rev CAGR (3YR) | OPM % |
BEL | 53.18 | 14.16 | 26.64 | 13.03 | 16.08 | 29.9 |
HAL | 39.89 | 9.54 | 23.91 | 7.87 | 9.32 | 34.95 |
Mazagon Dock Ship | 54.48 | 24.01 | 31.02 | 6.57 | 31.38 | 25.66 |
Bharat Dynamics | 129.14 | 19.52 | 16.84 | 5.92 | 10.68 | 35.08 |
Cochin Shipyard | 62.74 | 9.3 | 14.82 | 6.17 | 14.52 | 24.14 |
[Source: Economic Times]
BEL has a major role in India's defence electronics market, backed by a positive order book and government contracts.
BEL’s future relies on detecting growth opportunities and recognising future hurdles.
Due to its ₹71,650 crore order book as of March 2025 and anticipated orders worth ₹27,000 crore in FY26, the company has a large order book, which may support future operations.
Business operations can be significantly impacted by the importance of government work and global events. In addition, fierce competition and new technology in the defence area create difficulties.
The share price of BEL can be checked by investors on financial news platforms, directed to the company’s website, or using apps that update prices in real-time.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Bajaj Broking Financial Services Ltd. (BFSL) makes no recommendations to buy or sell securities.
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Bhanu Prakash Srivastava is the Chairman and Managing Director (CMD) of BEL as of May 2025. He started the position on January 1, 2023.
BEL is owned by the government. The Ministry of Defence’s Navratna Public Sector Undertaking (PSU) oversees this organisation.
The Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) both have BEL listed among their companies.
BSE Code: 500049
NSE Symbol: BEL
SEBI-approved stock brokers allow trading of BEL shares. They let you purchase BEL shares using your demat and trading account.
The face value of BEL shares is ₹1 per share.
Yes, BEL has given out bonus shares several times and the last time was:
2017: 2:1 bonus issue (2 bonus shares for every 1 share held)
2015: 2:1 bonus issue
Official Website: https://bel-india.in
Investor Contact Email: investors@bel.co.in
Phone (Registered Office): +91-80-2219 6000
Address: Bharat Electronics Limited, Outer Ring Road, Nagavara, Bengaluru - 560045, India.
Yes, BEL constantly offers investor presentations, annual reports, earnings updates, press releases, and notices of AGMs/EGMs through the company’s Investor Relations page.
BEL is included in the BSE 100, BSE 500 and Nifty India Defence Index. From June 24, 2024, BEL will take the place of IndusInd Bank in the BSE Sensex.
BEL makes, manufactures, develops and provides electronics systems and products for defence as well as civil purposes. The company makes most of its income from providing radars, communication equipment, ships and defensive electronics. In addition, it is used in civil aviation, electronic government services and space.
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