Bharat Electronics Limited (500049) Fair Value & Analysis

Industrial Goods · IN · Market cap ₹219B

A solid business, but screening 28% overvalued on our models.

What matters now

• Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
• A fairly wide model range (₹206.00 to ₹457.86) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹37.14 – ₹468.35 · fair‑value band ₹206.00 – ₹457.86 · the ₹411.90 price screens above the ₹294.84 fair value. Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

Which stocks are undervalued right now? Check free Discover now →

Analysis

Bharat Electronics Limited (500049) currently trades at ₹411.90, while our model-based Fair Value estimate is ₹294.84, implying the stock looks roughly 28.4% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Industrial Goods sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Bharat Electronics Limited generated revenue of ₹130B at a net margin of 13.3%. Revenue grew 16.3% year over year. It earns a return on equity of 17.8%. The stock trades on a trailing P/E of 13.5 (as of Jul 4, 2026). Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹206.00 (bear case) to ₹457.86 (bull case); at ₹411.90, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 13% below its 52-week high and 15% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrial Goods peers we cover trades at -76% fair-value upside, at -28%, 500049 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: DCF Models (₹543.47) versus Asset-Based (₹54.92). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

Bharat Electronics Limited, together with its subsidiaries, designs, manufactures, supplies, and exports electronic equipment and systems for the defense and civilian markets in India and internationally.

Full company description

Bharat Electronics Limited, together with its subsidiaries, designs, manufactures, supplies, and exports electronic equipment and systems for the defense and civilian markets in India and internationally. Its defense products include defense communication products, land-based radars, naval systems, electronic warfare systems, avionics, electro optics, tank and armored fighting vehicle electronic systems, weapon systems, C4I systems, shelters and masts, simulators, and batteries; microwave tubes and power modules, microwave super components, digital multichannel data recorders, and hybrid micro circuits; and micro electro mechanical systems. The company's non defense products comprise e-governance systems, homeland security products, civil radars, integrated traffic management systems, solar power solutions, and telecom and broadcast systems; and PD and strategic products, silicon radiation detectors, passive vacuum devices, EMI filters, multichannel voice logging recorder systems, and digital multichannel data recorders. In addition, it offers electronic manufacturing services, such as PCB assembly and testing, precision machining and fabrication, optoelectronic components and assemblies, microwave integrated circuit assemblies, super components modules, cable assemblies and wiring harnesses, and antennae manufacturing services, as well as designs and manufactures transformers, coils, chokes, and sub-assemblies. Bharat Electronics Limited was founded in 1954 and is based in Bengaluru, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bharat Electronics Limited reported revenue of ₹238B in FY2025 versus ₹141B in FY2021, a compound +13.9%/yr. Reported net income was ₹53.2B in FY2025, compounding +26.2%/yr from FY2021.

500049 screens 28% overvalued. Compare with Taneja Aerospace and Aviation Limited →

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Aerospace/Defense - Major Diversified stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Explore undervalued stocks

Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.