Archive · 9 Jan 2026
BEL Maintains Strong Growth Outlook for FY26
Bharat Electronics Ltd (BEL) is a big company that makes electronic things for defense and aerospace.
They have a lot of orders, worth ₹74,453 crore as of September 2025.
The company says they will grow by 15% in the next financial year (FY26) and make a lot of money from their work.
They also plan to spend over ₹1,000 crore on building new things and more than ₹1,600 crore on research.
BEL thinks they can keep growing at 15%-17.5% every year for the next five years.
But there are some risks, like if they get fewer orders or if other companies compete with them.
BEL's order book as of Sep'25 stood at ₹74,453 crore, 3.6x its H1-FY26 annualised revenue.
The company received ₹14,750 crore worth of orders till October 31, 2025, and an additional ₹3,000 crore in Nov and Dec 2025.
BEL maintains a revenue growth guidance of 15% and EBITDA margin of 27% for FY26.
Capex for FY26 is expected to be over ₹1,000 crore, with R&D investments exceeding ₹1,600 crore.
Long-term revenue growth is expected to be 15.0%-17.5% CAGR over the next 5 years.
- Who
- Bharat Electronics Ltd (BEL)
- What
- Maintained growth guidance for FY26
- When
- As of January 9, 2026
- Where
- Bengaluru, India
- Why
- Strong order book and execution discipline
- Company
- Bharat Electronics Ltd (BEL)
- Headquarters
- Bengaluru
- Order Book (Sep'25)
- ₹74,453 crore
- Revenue Growth Guidance (FY26)
- 15%
- EBITDA Margin Guidance (FY26)
- 27%
- Capex Guidance (FY26)
- Over ₹1,000 crore
- R&D Investment (FY26)
- More than ₹1,600 crore
- Long-term Revenue CAGR
- 15.0%-17.5% over next 5 years