Bharat Electronics expects orders worth at least ₹27,000 crore in FY26, management says in earnings call

Shares of state-run Bharat Electronics Ltd. (BEL) recovered from the day's low after the management commentary during its March quarter earnings call. The management said that it is anticipating orders worth at least ₹27,000 crore in financial year 2026.

This figure, shared by the management, is excluding the Quick Reaction Surface-to-Air Missiles (QRSAM) order, whose size, the management has pegged at ₹30,000 crore.

The management of BEL during the earnings call also highlighted that the visibility on the emergency procurement orders is expected after a week and the company is anticipating a minimum of 8 to 10 orders within this.

With regards to the QRSAM order, the management mentioned that the order may be finalised by February-March of 2027, but may slip to April-May and hence the order flow numbers are excluding that order.

In case the QRSAM orders are indeed received during the ongoing financial year, the order flow number could go up to ₹57,000 crore for the full year.

BEL's fourth quarter results were above expectations on most parameters. Despite missing the order inflow guidance of ₹25,000 crore for financial year 2025, the company managed to surpass its revenue growth and margin guidance for the year.

The company is also expecting major orders for subsystems for the S-400 going forward. On the exports front, BEL is anticipating to sell products worth $120 million, which will imply a growth of 15% from the previous financial year.

Shares of BEL are currently trading at the flat line at ₹364. The stock has risen 21% in the last one month.