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Bharat Electronics revenue jumps, but EBITDA margin slips in June quarter
Q1FY27 revenue rose 25% year on year to ₹5,533 crore, while EBITDA margin fell 297 bps to 25.1% as raw material costs surged.
Bharat Electronics Ltd reported mixed results for the June quarter, with revenue climbing sharply but profitability pressured. LiveMint Markets said revenue grew 25% year on year to ₹5,533 crore, driven by strong execution, while EBITDA margin contracted 297 basis points to 25.1% because raw material costs rose.
The company’s EBITDA grew more slowly, up 12%, leaving margin below its target range. LiveMint Markets noted that management said material costs can swing between quarters while it maintained FY27 margin guidance.
Order momentum was softer even as the overall backlog stayed strong. LiveMint Markets reported Q1FY27 order inflow was ₹3,800 crore, about half the level of Q1FY26, while BEL kept its FY27 revenue guidance of ₹55,000 crore that includes a QRSAM order worth ₹30,000 crore expected to seek Cabinet Committee on Security approval by September.
Despite muted new inflows, BEL said its order book remains robust at ₹72,300 crore, about 2.5 times trailing 12-month sales, and defense contributes 90% of total orders. LiveMint Markets added that drones and counter-drone systems are gaining traction, and exports contribute about $465 million, or roughly ₹4,500 crore, to the order book.