BEL Q3 FY26 Results Preview: Defence PSU Poised for Strong Performance
Navratna public sector undertaking Bharat Electronics Limited (BEL) is anticipated to report robust financial growth for the third quarter of the fiscal year 2025-26, bolstered by substantial order inflows and a healthy backlog. The company has officially scheduled a board meeting for Wednesday, January 28, 2026, to review and approve the unaudited standalone and consolidated financial results for the quarter and nine months ending December 31, 2025.
Brokerage Projections and Financial Estimates
Leading brokerage firms have released optimistic forecasts for BEL's Q3 performance, citing the company's impressive order book as a key growth driver. According to an analysis by Nuvama Institutional Equities, BEL could achieve revenue growth in the mid-to-high teens, supported by a backlog of approximately ₹74,000 crore. The brokerage estimates that the core profit after tax (PAT) may rise to ₹1,487 crore, reflecting a 13% year-on-year (YoY) and 16% quarter-on-quarter (QoQ) increase.
Furthermore, Nuvama projects that revenue could surge by 18% YoY and QoQ to reach ₹6,819.5 crore, with operating margins expected to remain comfortable at around 28%. This margin stability is attributed to enhanced operational efficiency and higher levels of localisation. The brokerage noted that BEL has consistently exceeded market expectations and its own guidance on operating profit margins, reporting 29.4% in Q2 FY26 against a guidance of approximately 27%.
In a similar vein, analysts at Kotak Institutional Equities (KIE) estimate that revenue might grow by 16.8% YoY to ₹6,737.8 crore, while PAT could increase by 12.8% to ₹1,478.5 crore. These projections underscore the company's strong financial trajectory amid favourable market conditions.
Order Inflow and Business Momentum
BEL's order inflow growth has been particularly noteworthy, with the company securing orders worth ₹5,000 crore in the third quarter, marking a staggering 118% YoY increase compared to Q3 FY25. This robust performance has enabled BEL to achieve 67% of its guided order inflow for FY2026, excluding the Quick Reaction Surface-to-Air Missile (QRSAM) project, highlighting sustained business momentum and strategic execution.
Stock Performance and Market Sentiment
Ahead of the earnings announcement, BEL's share price demonstrated positive momentum, trading 2% higher at ₹425 on the Bombay Stock Exchange (BSE). The stock is currently hovering near its 52-week high of ₹435, reflecting strong investor confidence. Over the past year, the defence PSU stock has rallied by an impressive 64%, while delivering multibagger gains of 867% over a five-year period, underscoring its long-term growth potential and resilience in the market.
Investors and market watchers are keenly awaiting the official results to gauge BEL's performance and future outlook, with the company's strategic initiatives and order backlog positioning it for continued success in the defence and electronics sectors.
