Bharat Dynamics Q2 results: net profit falls 15% to Rs 183.5 crore
Bharat Dynamics said in its filing that standalone net profit for the September 2026 quarter was Rs 183.5 crore, down 15.0% year on year, while revenue rose 45.1% to Rs 1,664.1 crore.
Key points
- Bharat Dynamics filed unaudited Q2 FY27 standalone results with the National Stock Exchange on 12 November 2026.
- Net profit was Rs 183.5 crore, down 15.0% from a year earlier; revenue from operations rose 45.1% to Rs 1,664.1 crore.
- The auditors' review report carries an emphasis of matter on Rs 83.27 crore of inventory not moved for over five years.
Bharat Dynamics Limited reported standalone net profit of Rs 183.5 crore for the quarter ended 30 September 2026, down 15.0% from a year earlier, in results filed with the National Stock Exchange on 12 November 2026. Revenue from operations rose 45.1% year on year to Rs 1,664.1 crore. The state-owned missile maker is a Government of India enterprise under the Ministry of Defence.
What Happened
In its filing with the National Stock Exchange, the company published unaudited standalone results for the second quarter (Q2 FY27) and the half year ended 30 September 2026. The Board approved them on 12 November 2026 after the Audit Committee's review. The filing gives standalone figures only.
Total revenue from operations was Rs 1,664.1 crore, against Rs 1,147.0 crore in the September 2025 quarter (up 45.1%) and Rs 572.2 crore in the June 2026 quarter (up 190.8%).
Net profit for the period was Rs 183.5 crore, against Rs 215.9 crore a year earlier (down 15.0%) and Rs 118.8 crore in the previous quarter (up 54.5%). Profit before tax was Rs 246.2 crore. Earnings per share were Rs 5.01, against Rs 5.89 a year earlier and Rs 3.24 in the previous quarter.
For the half year, revenue from operations was Rs 2,236.4 crore, against Rs 1,395.0 crore a year earlier. Net profit for the half year was Rs 302.3 crore, against Rs 234.2 crore.
The filing notes that a final dividend of Rs 0.40 per equity share for 2025-26 was approved by shareholders at the annual general meeting held on 28 September 2026.
The auditors' limited review report is unmodified in its conclusion but carries an emphasis of matter. It draws attention to a note saying that inventories include Rs 83.27 crore that has not moved for more than five years. The company says this stock was bought against firm orders or letters of intent that the customer later short-closed, and that advances of Rs 362.34 crore were received against those contracts. The company did not make a provision for redundancy, although its accounting policy requires one for such stock, because it considers the advances to exceed the assets and expenditure involved.
What It Means
The quarter's revenue is far above both comparison periods, while net profit is lower than a year earlier. The filing does not explain the difference between the two movements. The half-year figures show the longer trend: revenue and profit for the six months are both higher than a year earlier.
These are the company's own unaudited figures, reviewed but not audited by its statutory auditors. Readers can read the full results on the National Stock Exchange's website under the company's announcements.
Oquilia Data: Bharat Dynamics Ltd. (NSE: BDL)
| Close, 11 Nov 2026 | Rs 1,100.00 (−0.87% on the day) |
|---|---|
| Return 1M / 3M / 6M / YTD / 1Y | +2.24% / −15.88% / −21.50% / −24.99% / −28.26% |
| Against Nifty 50, 1M / 3M / YTD | −9.90 / −19.08 / −21.64 points |
| 52-week closing high / low | Rs 1,613.80 (14 Nov 2025) / Rs 974.00 (30 Oct 2026) |
| Turnover, 20-session average | Rs 100.92 cr; 31.8% delivered; latest volume 1.7x |
Closes adjusted for splits and bonuses; returns exclude dividends. Facts from NSE's files, not investment advice.
Full record: Bharat Dynamics share price on Oquilia
Source: Company filing on NSE
Sources & Citations
- Company filing on NSE — National Stock Exchange of India