BDL Q4 FY26 Results: Profit, top line miss Street estimates; Miniratna firm declares dividend

Hyderabad-headquartered Bharat Dynamics Ltd (BDL) -- a Miniratna-I central public sector enterprise (CPSE) -- on Thursday reported a net profit of Rs 113.2 crore for the quarter ended March 31, marking a 58.5 per cent fall on a year-on-year basis.

Its quarterly revenue dropped 73 per cent to Rs 480.2 crore, according to a regulatory filing.

Both net profit and revenue fell short of analysts' expectations. The defence manufacturer was estimated to stage a strong performance for the final quarter of FY26.

BDL Q4 FY26 Results: Headline numbers vs expectations

According to Zee Business research, BDL was estimated to register a consolidated net profit of Rs 320 crore and revenue of Rs 1,845 crore for the March quarter.

Bharat Dynamics operational performance

The PSU reported March-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA) of Rs 64.6 crore, versus Rs 324 cr a year ago.

Its margin slumped to 13.2 per cent for the final quarter of FY26 from 18.0 per cent a year ago.

According to Zee Business research, BDL was expected to register EBITDA of Rs 367 crore and margin of 20 per cent.

Margin is a key measure of a company's profitability.

BDL FY26 results

For the year ended March 31, the missile maker registered a net profit of Rs 420.3 crore, a year-on-year fall of 23.5 per cent.

Its full-year top line contracted 27 per cent to Rs 2,441.8 crore.

Bharat Dynamics declares dividend

The defence manufacturer declared a dividend of Re 0.40 per equity share -- an 8 per cent payout given the face value of Rs 5.

That marked the final dividend for FY26.

The company said the dividend, subject to shareholders' approval, will be paid within 30 days from the day of its forthcoming AGM.

BDL dividend history

BDL has paid dividends regularly in the past. Here's a summary of its dividends in the last five years:

Bharat Dynamics shares vs Nifty 50

On Wednesday, BDL shares fell 3.5 per cent to close at Rs 1,283.4 apiece on BSE, halting a three-day winning run.

At this level, the largecap defence stock has lost 13 per cent of its value so far this year, underperforming an 8.6 per cent decline in the Nifty 50.

In a year, Bharat Dynamics shares have fallen 32.8 per cent, while the index dipped 3.4 per cent.

The country's financial markets remained shut on Thursday for Bakri Id.