BEL Q2FY25 Results: Strong Order Book and Profit Growth Support Outlook

Bharat Electronics Ltd (BEL) delivered a strong performance in Q2FY25, reinforcing its position as a key defense PSU. The company reported a 21% YoY rise in revenue to ₹4,750 crore, driven by healthy execution of defense and non-defense contracts. Net profit surged 28% YoY to ₹940 crore, supported by better operational efficiency and higher margins. EBITDA margin expanded to 25.1%, reflecting better product mix and cost control. BEL’s order inflows remained robust at ₹11,000 crore during the quarter, taking its total order book to ₹76,200 crore, providing strong revenue visibility over the next few years. Key contracts include radar systems, communication equipment, and electronic warfare systems for the Indian Armed Forces. The company continues to focus on R&D and indigenization, with over 85% of revenues coming from domestic sources. Management reiterated its guidance of 15–17% revenue growth for FY25, supported by strong demand in defense electronics, smart cities, and green energy verticals. Key Highlights: Revenue: ₹4,750 crore (+21% YoY) Net Profit: ₹940 crore (+28% YoY) EBITDA Margin: 25.1% Order Book: ₹76,200 crore BEL’s steady growth, expanding order book, and strong balance sheet position it as a long-term play on India’s defense indigenization and digital infrastructure push.