Bharat Electronics Limited — Q2FY27 earnings call summary

Filed 06 November 2026 · Official transcript

Order book as of 01-Oct-2026 at INR68,717 Cr; INR7,334 Cr orders acquired in FY27 so far
FY27 revenue growth guidance maintained at 15-20%; EBITDA margin around 28%
H1 FY27 revenue grew 25.97% to INR12,824 Cr; PAT up 14.80% to INR2,589 Cr
QRSAM order expected soon; private sector unlikely in initial INR30,000 Cr order
Next Gen Corvette (NGC) orders worth ~INR20,000 Cr expected staggered by Mar-27
Drone and counter-drone business growing; exports expected soon
Missile seeker capacity 1,000+ units/year; developing IR and RF seekers
R&D investment INR2,200+ Cr; capex INR1,200 Cr; defense to nondefense mix 90:10