BEL Bharat Electronics Q3 FY26 results (Oct–Dec 2025) and concall
BEL delivered strong 9M FY26 results with 19% revenue growth and 30% EBITDA margin, well above the 15% and 27% guidance. QRSAM remains on track with >90% confidence for Q4 FY26 order receipt. NGC orders of INR 2,000-3,000 crores expected this quarter with remaining INR 10,000-12,000 crores in H1 FY27. Provision write-back of INR 256 crores supported Q3 margins. R&D spend being increased to INR 1,700+ crores this year and INR 2,000+ crores next year, with 20%+ annual growth committed.
You’re reading a preview. Opening the full call uses 1 concall credit.
Sign in to use your monthly call allowance.
What they filed
Q3 FY26: revenue up 23.7%, net profit up 20.8% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 |
|---|---|---|---|---|---|---|
| Revenue | 4,583 | 5,756 | 9,120 | 4,417 | 5,764 +26% | 7,122 +24% |
| EBITDA | 1,389 | 1,653 | 2,789 | 1,240 | 1,695 +22% | 2,118 +28% |
| Net profit | 1,091 | 1,316 | 2,105 | 969 | 1,286 +18% | 1,590 +21% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
