BEL Results Analysis

Q4FY25 – Operating Revenue Rs. 9,120 Cr. 7% Growth YoY, Op. EBITDA Rs. 2,790 Cr. 22.3% Growth YoY, Op. EBITDA Margin 30.6% 385 bps Growth YoY, Profit before tax (PBT) Rs. 2,848 Cr. 19.4% Growth YoY, Profit after tax (PAT) Rs. 2,105 Cr. 18% Growth YoY. FY25 – Operating Revenue Rs. 23,658 Cr. 17% Growth YoY, Op. EBITDA Rs. 6,768 Cr. 35.4% Growth YoY, Op. EBITDA Margin 28.6% 383 bps Growth YoY, Profit before tax (PBT) Rs. 7,090 Cr. 32.9% Growth YoY, Profit after tax (PAT) Rs. 5,288 Cr. 31.5% Growth YoY. The order book position of the company as on 1st April, 2025 stood at Rs. 71,650 Cr. FY26 Guidance : Revenue Growth: ~15%, EBITDA Margin: ~27%, Order Inflow: >₹27,000 crore (excluding QRSAM) Export Target: $120 million (15%+ growth targeted). The Board declared Final dividend of Rs. 0.90 per Equity Share.