Q3 2026 Bharat Electronics Ltd Earnings Call Transcript
Key Points
- Bharat Electronics Ltd (BOM:500049) reported a 19% increase in revenue from operations up to Q3 FY26, reaching INR17,302 crore compared to INR14,538 crore in the same period last year.
- Profit before tax rose by 22% to INR5,171 crore, and profit after tax increased by 21% to INR3,845 crore.
- The company's EBITDA margin improved to 30% up to Q3 FY26 from 28% in the previous year.
- The order book position as of January 1, 2026, was INR73,015 crore, with new orders acquired totaling INR19,300 crore.
- Bharat Electronics Ltd (BOM:500049) is confident of achieving or exceeding its guidance for FY26, with a focus on maintaining a 27% EBITDA margin and a 15% revenue growth.
- There is a potential spillover of the NGC order to FY27, which could impact the anticipated order inflow for FY26.
- The company is maintaining its EBITDA margin guidance at 27% despite achieving higher margins in the first nine months, indicating potential margin pressure in Q4.
- Supply chain constraints, particularly in semiconductors, remain a challenge, although the company is taking steps to mitigate these issues.
- The execution of certain projects, such as Akash-NG, may be delayed, with orders potentially spilling over to future financial years.
- Other income declined by 8% due to lower interest income and the absence of forex gains, impacting overall profitability.
Ladies and gentlemen, good day, and welcome to Bharat Electronics Limited Q3 FY26 earnings conference call hosted by Motilal Oswal Financial Services Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Ms. Teena Virmani from Motilal Oswal Financial Services Limited. Thank you, and over to you, Ms. Virmani.
Good evening, everyone. On behalf of Motilal Oswal Financial Services, I welcome you all for Bharat Electronics Q3 FY26 results conference call. I would like to thank the management for giving us the opportunity to host the call. From the management side, we have with us Mr. Manoj Jain, Chairman and Managing Director; Mr. Damodar Bhattad, Director, Finance and CFO; Mr. Sreenivas, Company Secretary.
Without taking much time, I hand over the call to Mr. Manoj for his opening remarks. And after that, we will open the floor for Q&A. Over to you, sir.
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