Bharat Electronics Limited (500049) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Bharat Electronics Limited ₹184, price ₹384, upside -52.1%, quality 62 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ₹38.49 – ₹468.35 · fair‑value band ₹135.77 – ₹457.86 · the ₹383.50 price screens above the ₹183.79 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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.
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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.
Stock analysis
Bharat Electronics Limited (500049) currently trades at ₹383.50, while our model-based Fair Value estimate is ₹183.79, 52.1% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹463.02 per share, and 5 of the 17 models we run sit above the ₹383.50 price.
Bear case: the Asset-Based group reads lowest at ₹54.92, and 12 of the 17 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹135.77 (bear) to ₹457.86 (bull), the price of ₹383.50 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 62/100 (solid quality), in the Industrial Goods sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
Key figures
Market cap ₹219B (≈ $2.3B) · P/E ratio 13.5 · P/S ratio 3.03 · EPS (TTM) ₹7.06 · Dividend yield 2.9% · Net margin 22.4% · Return on equity 17.8% · Return on assets (EBIT) 11.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 18% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrial Goods peers we cover trades at −11% fair-value upside, at −52%, 500049 screens richer than that median.
Fair Value models
Bear ₹135.77Fair Value ₹183.79Bull ₹457.86
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (₹4.26 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+17.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.9%
Start year 2020 (pandemic). Over 10 years: +13.0% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.6%
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What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+26.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+23.9%
Dividend (yield on the price)2.9%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.19% → 27%
2025 sits 78% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Compare Bharat Electronics Limited with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Aerospace/Defense - Major Diversified” was too small, so the broader sector is used.)Industrials · 5269 stocks
Beats the sector median on 10/12 measures
Overall it ranks above its sector peers.
Valuation
Quality Score62 · Above median
Fair Value upside−70.5% · Bottom 25%
Profitability
Return on equity (TTM)17.8% · Top 25%
Return on assets5.9% · Top 25%
Net margin (TTM)13.3% · Top 25%
Operating margin (TTM)17.4% · Top 25%
Growth and dividend
Revenue growth16.3% · Above median
Dividend yield (TTM)2.9% · Above median
Valuation Multiplesvs Industrials median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Bharat Electronics Limited (500049) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹183.79 versus a price of ₹383.50, about −52% upside (overvalued).
What is the fair value of 500049?
Our model-based fair value for Bharat Electronics Limited is ₹183.79 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹383.50.
What is the quality score of 500049?
Bharat Electronics Limited has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Bharat Electronics Limited (500049)?
Our model-based price target is the fair value of ₹183.79 (as of Sep 24, 2026) from 17 valuation models. Cautious scenario ₹135.77, optimistic scenario ₹457.86. It is a calculation from audited fundamentals, not an analyst target.
What is the Bharat Electronics Limited stock forecast for 2026?
Our models put fair value at ₹183.79, about −52% upside versus a price of ₹383.50 (overvalued). Cautious scenario ₹135.77, optimistic scenario ₹457.86. The calculation is refreshed regularly with new filings.
What is the revenue of Bharat Electronics Limited (500049)?
Bharat Electronics Limited reported trailing-twelve-month revenue of about ₹130B (latest available figure, as of Sep 24, 2026).
Does Bharat Electronics Limited pay a dividend?
Bharat Electronics Limited currently shows a dividend yield of about 2.90% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Bharat Electronics Limited (500049)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bharat Electronics Limited it is ₹183.79 per share (as of Sep 24, 2026), against a price of ₹383.50. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Bharat Electronics Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 500049 trades above its calculated fair value: price ₹383.50, fair value ₹183.79, a gap of about −52% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 500049?
No. The price is what the market pays today (₹383.50); the fair value is what the company's own numbers justify (₹183.79). For Bharat Electronics Limited the two are ₹199.71 per share apart. That gap is exactly why we show both numbers side by side.
How much is Bharat Electronics Limited worth?
The market values Bharat Electronics Limited at about ₹219B (market capitalisation, as of Sep 24, 2026). Per share that is ₹383.50; our models calculate a fair value of ₹183.79 per share.
What do the bullish and bearish scenarios say about 500049?
Our models span a range for Bharat Electronics Limited: cautious scenario ₹135.77, base ₹183.79, optimistic ₹457.86 per share (as of Sep 24, 2026, price ₹383.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 500049?
Bharat Electronics Limited trades at a price-to-earnings ratio of 13.5 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹183.79 is built from several models across several years. Other multiples: P/B 1.1, P/S 1.7, EV/EBITDA 8.1.
How solid is the balance sheet of Bharat Electronics Limited (500049)?
Balance-sheet figures for Bharat Electronics Limited (as of Sep 24, 2026): return on equity 17.8%. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 500049 from its 52-week high?
Bharat Electronics Limited trades at ₹383.50, about 18% below its 52-week high of ₹468.35 and 1% above the low of ₹381.00 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹183.79 is for.
Which stocks are comparable to Bharat Electronics Limited?
From the same area (Industrial Goods) we also value Raymond Limited, FRONTSP, DISAQ, BATLIBOI, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Bharat Electronics Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹383.50, calculated fair value ₹183.79 (−52%), Quality Score 62/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 500049 calculated?
We run Bharat Electronics Limited through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹183.79, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Bharat Electronics Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Bharat Electronics Limited (500049)?
The closing price on Oct 1, 2026 was ₹383.50. Our model-based fair value is ₹183.79, about −52% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bharat Electronics Limited right now?
The model range is unusually wide (₹135.77 to ₹457.86). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Bharat Electronics Limited
How large is the market capitalisation of Bharat Electronics Limited (500049)?
The market capitalisation of Bharat Electronics Limited is ₹219B (≈ $2.3B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Bharat Electronics Limited (500049)?
The price-to-sales ratio of Bharat Electronics Limited is 3.03 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Bharat Electronics Limited (500049)?
Earnings per share at Bharat Electronics Limited are ₹7.06 (price ÷ EPS = P/E 13.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Bharat Electronics Limited (500049)?
The dividend yield of Bharat Electronics Limited is 2.9% (payout 157%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Bharat Electronics Limited (500049)?
The net margin of Bharat Electronics Limited is 22.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Bharat Electronics Limited (500049)?
The return on equity (ROE) of Bharat Electronics Limited is 17.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Bharat Electronics Limited (500049)?
On an EBIT basis the return on assets of Bharat Electronics Limited is 11.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Bharat Electronics Limited (500049)?
The operating margin of Bharat Electronics Limited is 17.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bharat Electronics Limited (500049)?
Revenue at Bharat Electronics Limited is growing +16.3% versus a year earlier (3y avg +15.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Bharat Electronics Limited (500049)?
Earnings per share at Bharat Electronics Limited are growing +15.5% versus a year earlier. How much earnings per share grew versus a year earlier.
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