Q1 2026 Bharat Electronics Ltd Earnings Call Transcript
Key Points
- Revenue from operations increased by 5.19% to INR4,417 crores compared to the previous year.
- Profit before tax grew by 24.28% to INR1,289 crores, and profit after tax increased by 24.87% to INR969 crores.
- EBITDA margin improved significantly to 29.86% from 22.82% last year.
- Order book position is strong at INR74,859 crores, with additional orders of INR2,600 crores received after July 1, 2025.
- The company is confident of achieving a revenue growth of more than 15% and maintaining an EBITDA margin of over 27% for FY26.
- Revenue growth for the quarter was only 5.19%, impacted by geopolitical issues affecting supply chains.
- The company faced challenges in executing orders due to the Israel-Iran conflict, affecting revenue realization by INR200 crores.
- There is uncertainty regarding the finalization and receipt of large orders like QRSM and MSR, which may impact future revenue.
- The company is facing competitive pressure in securing orders, with a significant portion of orders being nomination-based.
- Employee costs are expected to rise due to potential pay commission impacts, although the exact effect is uncertain.
Ladies and gentlemen, good day, and welcome to the Bharat Electronics Q1 FY26 earnings conference call hosted by Elara Securities Private Limited. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Harshit Kapadia from Elara Securities Private Limited. Thank you, and over to you.
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Thank you, Vishaka. Good afternoon, everyone. On behalf of Elara Securities, we welcome you all for the Q1 FY26 conference call of Bharat Electronics Limited. I take this opportunity to welcome the management of Bharat Electronics represented by Shri Manoj Jain, Chairman and Managing Director; Shri Damodar Bhattad Director, Finance and CFO; and Mr. Sreenivas Company Secretary, along with their team. We will begin the call with a brief overview by the management followed by Q&A session.
I'll now hand over the call to Manoj sir for his opening remarks. Over to you, sir.
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