BEL share price target 2023, 2024, 2025, 2026, 2027, 2028, 2029,2030

India’s “Atmanirbhar scheme”  supports Bharat Electronics Limited to develop indigenous communication, land-based radar, naval communication system, microprocessor, electronic warfare system for the Indian Defense. India is looking to reach their defense export to 5 trillion dollars.

According to the statista report Indian Aerospace and Defence composite market size will grow with CAGR of 13.1%.

In the sector Bharat Electronics Limited is one of the leading company. 85% of electronic devices or communication systems used in Indian Air force aircraft are made up by Bharat Electronics Limited. BEL is the primary defense supplier of strategic electronic assemblies and sub-assemblies.

It is the second largest defence PSU. The Indian government aggressively works on the Indian defence sector to minimize their dependency on other countries.

According to PIB report, the Indian defence budget in 2023-24 is 5.94 lakh crore, Current year allocation of defence budget jumped by 13% over the previous year.

That’s why Indian defence sectors stocks are rally and This is the good time for investing in the Indian defence sector. In this article we will analyze the Bharat Electronics Limited stocks and forecast BEL share price target over the year year of 2023-2030.

This article we will analyse the fundamentals of Bharat Electronics Limited and its future plan. We are also looking at the current situation of the order book of Bharat Electronics Limited and how they will execute their upcoming orders. 

BEL share price target
BEL share price target

Bharat Electronics Limited

Bharat Electronics LimitedWas founded in 1954 in Bangalore. Bharat Electronics Limited established with Association of CSF France To fulfill the Requirement of specialized electronic Communications system to the Indian defence service.

Bharat Electronics Limited is the primary defence supplier of strategic electronic assemblies and sub-assemblies.

Bharat electronics Limited started with manufacturing of a few communication system in 1956. In 1961 its started manufacturing receiving valves and in 1962 it started manufacturing Germanium semiconductors. In 1964 with the help of Soviet Union Bharti Electronics Limited manufactured a radio transmitter for the airforce.

On June 22nd 2007 Bharat Electronics Limited conferred as a Navratna Public Sector Unit. BEL 78%-80% revenue comes from its communication system, radar, Sonar, electronic welfare system (EWS), electro optics, avionics And electronic system for tank.

The Indian government has a target to achieve $25 billion defence production by 2025, In which $5 billion comes from export of defence equipment.  

Bharat Electronics Limited 90% turnover comes from Defence equipment And 78% of turnover come from engineers product (Develop in India). 

Bharat Electronics Limited  was firstly listed on Bombay Stock Exchange on 18th May 1995 And in 14th October 1996 Bharat Electronic Limited listed on National Stock Exchange.

Bharat Electronics Limited Fundamentals

Market Cap₹1,04,749.13 crore
Enterprise Value₹96,740.13 Crore
No. of share730.98 crore
Face value1
Dividend Yield (Last Year)1.29%
Book Value19.31
Debt ₹0
Profit growth (1 year)28%
Sales growth15.23%
Cash₹8,009 crore
Debt to Equity0
Promoter’s Holding51.14%
Operating Profit Margin23.00%

Bharat Electronics Limited fundamentals are strong. Last year Company sales growth was 15.23% and operating profit margin was 23%.

BEL graph
source : Finology

In the last 5 years BEL Average sales growth is 11.33% whereas the Company has been maintaining an effective average operating margins of 21.65% in the last 5 years. BEL Is almost death free and its also have a good amount of cash reserve which will help In their operations.

P/E ratio
source : Screener

Bharat Electronics Limited P/E ratio is 33.72,  this is on the higher side which makes the company overvalued.  Bharat Electronics Limited Last 5 years average P/E ratio was 18.72. But  the company 

Return on Equity is around 23.52% which is good. It is on the higher side compared to their Peers. Also the company ROCE is 31.32% Which is also good it is also higher than the Peers.

BEL share price target 2023, 2024, 2025, 2026, 2027, 2028, 2029,2030

YearJanuary TargetDecember Target
BEL share price target 2023₹100.25₹125.89
BEL share price target 2024₹124.78₹132.87
BEL share price target 2025₹133.84₹141.89
BEL share price target 2026₹142.14₹150.19
BEL share price target 2027₹149.01₹157.12
BEL share price target 2028₹159.22₹184.62
BEL share price target 2029₹182.12₹212.13
BEL share price target 2030₹211.39₹240.14

How to buy Bharat Electronics Limited shares?

For buying Bharat Electronics Limited (BEL) shares you must have a demat account. You can open a demat account from a trading platform. There are many trading platforms which offers demat account openings. some of the trading platform  are following

  1. Groww 
  2. Zerodha
  3. Upstocks
  4. Motilal Oswal
  5. Angel one
  6. ICICI direct

Bharat Electronics Limited (BEL)Share Price target 2023

BEL Price Graph
source : Screener

On September 15, 2023 Bharat Electronics Limited traded at a price of ₹135.70. At the start of 2023 Bharat Electronics Limited was traded at a price of ₹100.25. During this period Bharat Electronics Limited gave a return of 35.36%.

October 2023₹131.90₹119.91
November 2023₹134.54₹122.31
December 2023₹138.58₹125.98

Current order book of the company is  65,356 crore, In 2022  Bharat Electronic Limited Export value was $ 46.8 million, in this year the company expected that their export value will reach $90 million.

In 2023 company expected its revenue will go up to 20000 crore which is 17% more than previous year. Company also expected that by FY24 their order inflow will be 20000 crore.

Bharat Electronics Limited current year CAPEX is around ₹700 crore to ₹800 crore.

BEL share price target 2024

BEL(Bharat Electronics Limited) share price target  2024 in January is 124.67 And at the end of 2024 BEL  share price target is ₹132.87.

January 2024124.67127.59
February 2024127.13128.69
March 2024127.32114.98
April 2024127.70127.77
May 2024128.45134.52
June 2024123.32133.67
July 2024142.42149.13
August 2024149.075132.21
September 2024130.48120.84
October 2024120.38123.34
November 2024121.730128.68
December 2024126.46132.88

Bharat Electronics Limited expected 800 crore to 900 crore revenue from EVM manufacturing. Financial year 2024 first quarter company EBDITA margin is 18.9%, Bharat Electronic Limited EBDITA margin grew by 2.4% YoY, Same period previous year company EBDITA margin was 16.5%.

BEL share price target 2025

BEL(Bharat Electronics Limited) share price target 2025 in January is ₹133.84 And at the end of 2025 BEL  share price target is ₹141.89.

January 2025133.846134.277
February 2025134.601135.672
March 2025137.021135.493
April 2025135.776137.239
May 2025136.803142.280
June 2025144.151150.719
July 2025150.603157.499
August 2025156.089159.538
September 2025160.220129.127
October 2025129.597130.412
November 2025131.083137.231
December 2025138.570141.894

Bharat Electronics Limited mainly focus on their recent development to develop indigenous equipment for the Indian defence sector and non defence sectors. The company spent around 7% of their turnover on R&D.

Bharati Electronics Limited got an order for EVM/VVPAT  of 1500 crore rupees. This order will be executed during the financial year 2024. 

Bharat Electronics Limited is also planning to establish a semiconductor chief factory Videshi station of Hindustan Aeronautics Limited.

BEL Has also signed a contract of 250 crore rupees with the ministry of defence for the supply of anti submarine Warfare system for the surface ships of the Indian Navy.

BEL and HAL sign a contract for code development and Co production of long range dual band indigenous infrared search and track system for Su-30 Mk.

These Future Plans and contracts Will make a significant increase in their revenue and their product range.

Other Defense Stocks

BEL share price target 2030

BEL(Bharat Electronics Limited) share price target 2030 in January is ₹211.39 And at the end of 2030 BEL share price target is ₹240.14.

Bharat Electronics Limited want to diversify their business from defence to non defence sector. Company wants to target in the sector Civil Aviation E-mobility, SaaS and metro rail.

Company has ventured into non defense areas such as homeland security, Smart City, energy storage product, solar, space electronics, Network and cyber security, Railways weather radar.

Currently the company’s non defence market share is around 15% and the company is targeting to achieve 25% in financial year 2025.

This future investment and broaden their product range will help to grow their revenue. 

BEL Promoters Holding Pattern

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Jun 2023

Promoters sold their stake in the past 6 years, promoter holding decreased from 68.9% to 51.4% but foreign investments and direct institution investment increased their stake holding in the same period where is foreign Investments has 17.35% and direct institution investment has 24.84% stake in the company.

That means foreign Institutions are interested in the Indian defence sector. It is in a very good sign for a stock, That foreign Institutions are heavily invested in their company.

Profit & Loss of Bharat Electronics Limited Last 5 years

Net Sales 12,084.6012,921.1114,063.8315,313.7617,646.20
Total Expenditure 9,361.2210,418.3010,908.2312,023.3713,687.93
Operating Profit 2,723.382,502.813,155.603,290.393,958.27
Other Income 311.32333.22154.76255.86452.94
Depreciation 316.22349.64366.33380.18407.87
Exceptional Items 00000
Profit Before Tax 2,703.192,479.172,934.813,157.803,984.88
Tax 775.90685.34869.39808.87978.21
Net Profit 1,927.291,793.832,065.422,348.933,006.67
Adjusted EPS (Rs.) 2.642.452.833.214.11

If we look at the last 5 years profit loss statement of the company we will see that the operating profits grew from 2723.38 crore to 3958.27 crore. Bharat Electronics Limited net profit also increased in the past 5 years. 

Bharat electronics Limited cash flow statement

Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity +179-1,539-5691,4342,260-61-6871,5142,5705,0934,2071,267
Cash from Investing Activity +-9531,753759-839-1,4703,115-6-896-649-2,595-4,8722,691
Cash from Financing Activity +-239-158-213-209-318-2,857-1,202-663-1,061-1,076-1,078-1,313
Net Cash Flow-1,01456-23386472197-1,895-458611,422-1,7422,645

Study Materials


In this article, I have given you all the information about BEL share price target, I have tried to give you the best information about all the financial data of BEL pvt ltd.

There are ups and downs in the stock market, due to which all the stock price targets mentioned in this article can go up or down. Therefore, before investing, do your research well.

Will the share price of bharat electronics limited rise in 2023?

There is a high chance of increase in Hindustan Aeronautics Limited share price in 2023 By the end of this year BEL share price will ₹138.58 mark.

What is profit growth of BEL over last five years?

Over the last 5 years BEL has shown robust profit growth of 16.53%.

BEL share price target 2035?

BEL share price in january 2035 is ₹325.54 By the end of this year BEL share price target 2035 will be ₹380.87.

BEL share price target 2040?

BEL share price in january 2040 is ₹435.76 By the end of this year BEL share price target 2040 will be ₹501.45

BEL share price target 2050?

BEL share price in january 2050 is ₹634.98 By the end of this year BEL share price target 2050 will be ₹700.12.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top