BEL Share Price Rises 6% on Rs 2,210 Cr Order from IAF

Shares of Bharat Electronics Limited (BEL), a leading defence PSU engaged in manufacturing and supplying advanced electronic equipment and systems, surged up to 6% after the company secured a substantial order worth Rs. 2,210 crore from the Indian Air Force for its Electronic Warfare (EW) systems.

According to the company’s recent exchange filing, BEL has signed a significant contract with the Ministry of Defence for the supply of an advanced EW suite designed for the Mi-17 V5 helicopters of the Indian Air Force. These systems have been indigenously designed and developed by CASDIC, a DRDO lab, and will be manufactured by BEL. The EW suite includes critical components such as Radar Warning Receivers (RWR), Counter Measure Dispensing Systems (CMDS), and Missile Approach Warning Systems (MAWS), which are expected to considerably improve the combat survivability of the helicopters by providing timely detection and effective countermeasures.

Order Book Update

With the inclusion of this new contract, BEL’s total orders secured in the current financial year have reached Rs. 2,803 crore. Previously, on April 1, 2025, BEL had reported total orders worth Rs. 18,715 crore for the financial year 2024-25, falling short of its stated guidance of Rs. 25,000 crore for the same period. Nevertheless, BEL’s cumulative order book stood at Rs. 71,650 crore as of April 1, 2025.

Recent Financial Performance

The company has also reported impressive financial growth, achieving a turnover of approximately Rs. 23,000 crore for FY25, marking a 16% year-on-year increase from Rs. 19,820 crore recorded in FY24. Notably, the company’s export turnover stood at US$106 million in FY25, reflecting a 14% growth compared to US$92.98 million in the previous financial year, as per its recent exchange filing.

Company Overview

Bharat Electronics Limited (BEL) operates as a Navratna Public Sector Undertaking (PSU) under the Ministry of Defence, Government of India. The company specialises in defence electronics, offering an extensive portfolio of products and solutions, including radars, missile systems, electronic warfare equipment, and avionics. Apart from its core defence business, BEL has also diversified into non-defence sectors, providing products such as Electronic Voting Machines (EVMs), traffic management systems, and other critical technological solutions.

Future Plans

As per its recent earnings call transcript, BEL is poised to secure several high-value defence contracts in FY26, which are expected to support its already strong order book. Key among these is the Quick Reaction Surface-to-Air Missile (QRSAM) system, with an anticipated order value ranging between Rs. 25,000 crore and Rs. 30,000 crore, currently in the advanced stages of the procurement process. Additionally, BEL expects to bag orders worth Rs. 14,000 crore to Rs. 15,000 crore for Medium Range Surface-to-Air Missiles (MRSAM) and Multi Function Surveillance, Track and Guidance Radar (MFSTAR) radar systems for next-generation corvettes.

On the non-defence front, the company is strategically focused on expanding its revenue share from emerging sectors like cybersecurity, telecommunications, artificial intelligence (AI), data analytics, homeland security, and data centres. 

BEL aims to increase the contribution of these segments to around 20% to 25% of its overall revenues over the next five years. The company is also pursuing plans to expand its international footprint, targeting export markets across Southeast Asia, Africa, and Latin America. To drive long-term growth, BEL continues to invest heavily in research and development (R&D) for next-generation defence electronics while forming strategic partnerships.