---
title: "Bharat Dynamics Ltd (BDL) — Share Price, Financials & Analysis"
symbol: "BDL"
company: "Bharat Dynamics Ltd"
canonical: "https://tapetide.com/stocks/BDL"
isin: "INE171Z01026"
nse_symbol: "BDL"
bse_code: "541143"
sector: "Aerospace & Defense"
industry: "Engineering"
market_cap_cr: 43016.11
generated_at: "2026-09-13T18:25:38.181Z"
---

# Bharat Dynamics Ltd (BDL)

Canonical page: https://tapetide.com/stocks/BDL

## Company

- **NSE Symbol:** BDL
- **BSE Code:** 541143
- **ISIN:** INE171Z01026
- **Sector:** Aerospace & Defense
- **Industry:** Engineering
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2018-03-23
- **CEO:** Commodore A. Madhavarao
- **Employees:** 2269
- **Face Value:** ₹5
- **F&O Eligible:** Yes
- **Website:** bdl-india.in/Home-Page

## About

Bharat Dynamics (BDL), is a Government of India Enterprise. It is engaged in the manufacturing of guided missiles and allied defence equipments  [1] [2].

## Latest Price

- **Price:** ₹1190
- **Change:** -5 (-0.42%)
- **Open:** ₹1185
- **Day High:** ₹1192
- **Day Low:** ₹1165
- **Previous Close:** ₹1195
- **Volume:** 974802
- **As Of:** 2026-09-11T10:28:57+00:00

## Key Fundamentals

Observed at 2026-09-11T04:46:05.339100Z.

- **Market Cap:** ₹43016.11 Cr
- **Classification:** Midcap
- **P/E (reported):** 83.8
- **P/E (TTM):** 83.74
- **EPS (TTM):** ₹14.21
- **EPS (reported):** ₹15.77
- **Book Value:** ₹115.7
- **Price to Book:** 10.29
- **Dividend Yield:** 0.41%
- **ROE:** 13.71%
- **ROCE:** 10.19%
- **Debt to Equity:** 0
- **Revenue (yearly):** ₹2415.36 Cr
- **Net Income:** ₹420.34 Cr
- **EBITDA:** ₹196.93 Cr
- **52-Week High:** ₹1654
- **52-Week Low:** ₹1086
- **RSI (14):** 30.28

## Tapetide Score

- **Score:** 40 / 100
- **Score date:** 2026-09-04
- **Archetype:** Weak and Under Pressure
- **What it means:** Weak financials are the defining feature, and neither the valuation nor the trend reading is strong enough to offset them. Worth reading the risk flags and recent filings closely before anything else.
- **Pillar profile:** Quality: Weak · Valuation: Expensive · Momentum: Falling
- **Percentile:** 14.5 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 61.25 | 9% |
| growth | 8.3 | 9% |
| momentum | 18.19 | 12% |
| ownership | 49.92 | 24% |
| quality | 47.64 | 22% |
| valuation | 33.75 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.
- Company is expected to give good quarter
- Company has been maintaining a healthy dividend payout of 35.1%

### Weaknesses

- Stock is trading at 10.3 times its book value
- The company has delivered a poor sales growth of 4.99% over past five years.
- Company has a low return on equity of 13.9% over last 3 years.
- Earnings include an other income of Rs.440 Cr.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -59.34% | -92.14% | -84.33% |
| ebitda margin growth | 6.94% | -68.82% | -78.9% | -75.73% |
| net income growth | 4.95% | -23.52% | 6% | 10% |
| revenue growth | 12.73% | -34.64% | -1% | 5% |
| roce | — | -10.06% | 35.51% | 11.39% |
| roe | — | -18.64% | 13.84% | 42.81% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 616 | 602 | 854 | 191 | 545 | 832 | 1777 | 248 | 1147 | 567 | 480 | 572 |
| Expenses | 482 | 483 | 538 | 243 | 446 | 705 | 1478 | 293 | 960 | 541 | 425 | 489 |
| Operating Profit | 134 | 119 | 316 | -52 | 99 | 127 | 299 | -45 | 188 | 26 | 55 | 83 |
| OPM % | 22 | 20 | 37 | -27 | 18 | 15 | 17 | -18 | 16 | 4.6 | 12 | 15 |
| Other Income | 78 | 88 | 88 | 80 | 86 | 84 | 100 | 87 | 121 | 97 | 119 | 103 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 17 | 16 | 16 | 16 | 18 | 18 | 20 | 18 | 19 | 19 | 20 | 20 |
| Profit before tax | 194 | 189 | 388 | 11 | 166 | 193 | 378 | 23 | 288 | 103 | 154 | 166 |
| Tax % | 24 | 29 | 26 | 36 | 26 | 24 | 28 | 21 | 25 | 29 | 26 | 28 |
| Net Profit | 147 | 135 | 289 | 7 | 123 | 147 | 273 | 18 | 216 | 73 | 113 | 119 |
| EPS in Rs | 4.01 | 3.68 | 7.88 | 0.2 | 3.34 | 4.01 | 7.44 | 0.5 | 5.89 | 1.99 | 3.09 | 3.24 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 4588 | 3069 | 3105 | 1914 | 2817 | 2489 | 2369 | 3345 | 2442 | 2766 |
| Expenses | 3919 | 2446 | 2349 | 1568 | 2090 | 2080 | 1832 | 2872 | 2218 | 2414 |
| Operating Profit | 669 | 623 | 756 | 346 | 727 | 409 | 537 | 473 | 223 | 352 |
| OPM % | 15 | 20 | 24 | 18 | 26 | 16 | 23 | 14 | 9 | 13 |
| Other Income | 173 | 136 | 88 | 95 | 78 | 155 | 362 | 350 | 424 | 440 |
| Interest | 4 | 5 | 5 | 5 | 5 | 6 | 4 | 4 | 3 | 3 |
| Depreciation | 63 | 82 | 96 | 95 | 90 | 77 | 67 | 71 | 76 | 79 |
| Profit before tax | 774 | 671 | 742 | 341 | 710 | 482 | 828 | 749 | 568 | 710 |
| Tax % | 32 | 37 | 28 | 24 | 30 | 27 | 26 | 27 | 26 | — |
| Net Profit | 528 | 423 | 535 | 258 | 500 | 352 | 613 | 550 | 420 | 521 |
| EPS in Rs | 14.41 | 11.53 | 14.59 | 7.03 | 13.64 | 9.61 | 16.71 | 14.99 | 11.47 | 14.21 |
| Dividend Payout % | 25 | 30 | 30 | 52 | 30 | 49 | 32 | 31 | 43 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 122 | 183 | 183 | 183 | 183 | 183 | 183 | 183 | 183 | 183 |
| Reserves | 2073 | 1773 | 2085 | 2424 | 2501 | 2847 | 3028 | 3454 | 3826 | 4058 |
| Borrowings | 4 | 4 | 5 | 15 | 11 | 10 | 9 | 8 | 7 | 0 |
| Other Liabilities | 6208 | 4697 | 3250 | 3128 | 3334 | 3595 | 5535 | 6781 | 7798 | 10020 |
| Total Liabilities | 8407 | 6657 | 5523 | 5750 | 6030 | 6636 | 8756 | 10426 | 11814 | 14262 |
| Fixed Assets | 757 | 868 | 957 | 932 | 915 | 874 | 809 | 824 | 857 | 1003 |
| CWIP | 136 | 130 | 47 | 42 | 22 | 41 | 74 | 73 | 230 | 174 |
| Investments | 3 | 239 | 4 | 4 | 5 | 0 | 0 | 0 | 4 | 4 |
| Other Assets | 7511 | 5420 | 4516 | 4771 | 5089 | 5721 | 7873 | 9530 | 10723 | 13081 |
| Total Assets | 8407 | 6657 | 5523 | 5750 | 6030 | 6636 | 8756 | 10426 | 11814 | 14262 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -420 | -342 | 84 | 504 | 1068 | 530 | 2130 | 412 | 167 | 604 |
| Cash from Investing Activity | 3 | 1047 | 170 | -33 | -734 | -573 | -1171 | -722 | -407 | 320 |
| Cash from Financing Activity | -166 | -769 | -268 | -191 | -173 | -149 | -171 | -148 | -220 | -194 |
| Net Cash Flow | -583 | -63 | -15 | 280 | 162 | -192 | 788 | -459 | -460 | 729 |
| Free Cash Flow | -556 | -510 | -5 | 447 | 1012 | 428 | 2022 | 331 | -115 | 375 |
| CFO/OP | -15 | -13 | 61 | 90 | 332 | 101 | 574 | 106 | 78 | 368 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 12 | 61 | 63 | 40 | 62 | 39 | 27 | 48 | 90 | 63 |
| Inventory Days | 276 | 254 | 380 | 222 | 636 | 534 | 584 | 841 | 591 | 1381 |
| Days Payable | 186 | 129 | 115 | 83 | 322 | 171 | 142 | 325 | 328 | 846 |
| Cash Conversion Cycle | 101 | 186 | 328 | 178 | 375 | 403 | 469 | 564 | 354 | 598 |
| Working Capital Days | -11 | 44 | 128 | 195 | 169 | 144 | 237 | 322 | 207 | 254 |
| ROCE % | 40 | 37 | 32 | 31 | 13 | 26 | 16 | 24 | 20 | 14 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 74.93% | 74.93% | 74.93% | 74.93% | 74.93% | 74.93% | 74.93% | 74.93% | 74.93% | 74.93% | 74.93% | 74.93% |
| FIIs | 3.09% | 3.1% | 2.95% | 3.05% | 2.94% | 3.09% | 3.26% | 3.77% | 2.43% | 2.3% | 2.02% | 1.69% |
| DIIs | 12.72% | 13.32% | 12.4% | 9.52% | 8.47% | 8.71% | 9.46% | 10.1% | 11.3% | 10.95% | 10.97% | 11.53% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 7.86% | 7.27% | 8.07% | 10.83% | 12.21% | 11.74% | 10.84% | 9.86% | 10.01% | 10.49% | 10.6% | 10.23% |
| Others | 1.41% | 1.39% | 1.65% | 1.67% | 1.46% | 1.53% | 1.52% | 1.34% | 1.32% | 1.34% | 1.48% | 1.63% |
| No. of Shareholders | 196566 | 205887 | 248158 | 498630 | 590374 | 594284 | 567591 | 541535 | 537004 | 551090 | 568164 | 560750 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 4 / 3 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 1237.87 | Sell |
| EMA (10) | 1239.86 | Sell |
| SMA (20) | 1296.11 | Sell |
| EMA (20) | 1268.69 | Sell |
| SMA (50) | 1295.01 | Sell |
| EMA (50) | 1290.91 | Sell |
| SMA (100) | 1308.84 | Sell |
| EMA (100) | 1306.77 | Sell |
| SMA (200) | 1340.53 | Sell |
| EMA (200) | 1345.21 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 29.63 | Buy |
| MACD (12,26,9) | -29.09 | Sell |
| Stochastic (14,3,3) | 6.02 | Buy |
| ADX (14) | 21.61 | Neutral |
| Williams %R (14) | -89.07 | Buy |
| ATR (14) | 35.88 | High Volatility |
| ROC (12) | -12.69 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 31.27 | Neutral |

## Analyst Ratings

| Recommendation | Analysts | Share |
| --- | --- | --- |
| Buy | 5 | 35.71% |
| Hold | 3 | 21.43% |
| Sell | 6 | 42.86% |

Based on 14 analyst ratings, observed at 2026-09-11T04:46:05.358450+00:00.

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-08 | [Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e824da9f-e8f8-4446-a03e-785c57529371.pdf) |
| 2026-09-04 | [Newspaper Advertisement For AGM 2025-26](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=01e35b47-28bf-40b7-a3f1-3d0f1be522a3.pdf) |
| 2026-09-03 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=22ad0ccf-e4ee-49eb-a5f9-e2df46bbe714.pdf) |
| 2026-09-03 | [Record Date For Final Dividend 2025-26](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8f8bc5af-3e1d-420f-9836-d823c500e456.pdf) |
| 2026-09-03 | [Business Responsibility and Sustainability Reporting (BRSR)](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=856cfedc-b87a-4085-8b7a-ce619e95e394.pdf) |
| 2026-09-01 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9d216981-2a72-4258-8c5b-a75fa392306e.pdf) |
| 2026-08-26 | [Fines Imposed By Stock Exchanges](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c1dbbcd9-8906-4307-8e1e-42443b51df81.pdf) |
| 2026-08-21 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=024c2bc1-10dd-4975-8311-9a6833a41554.pdf) |
| 2026-08-18 | [Announcement under Regulation 30 (LODR)-Change in Directorate](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1ffd4b18-1012-4a7b-8f05-1f4f69523d29.pdf) |
| 2026-08-14 | [Board Meeting Outcome for Unaudited Financial Results For The Quarter Ended 30 June 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=829aebd1-325e-48bb-a607-9693e9e2f2c3.pdf) |

### Investor Presentations

| Date | Document |
| --- | --- |
| 2026-06-10 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6e63e296-ee2f-4dcf-9a24-18b0902aff81.pdf) |
| 2024-11-29 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=23a0a4d1-c656-433c-9252-a5d324763a98.pdf) |
| 2024-06-25 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=18b1d19a-cd46-4aed-90f0-455f551813b7.pdf) |
| 2024-02-19 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f71a2e60-c7e8-4975-b87b-9855e3a99d01.pdf) |
| 2023-11-22 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2a8f1f3e-8546-41aa-b627-0eb2c1a6884f.pdf) |
| 2022-06-07 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0a3710a0-6a64-4eb8-a60a-4443e9b8bec2.pdf) |
| 2021-12-13 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e02bb3ef-7186-447c-835a-f04e5c0dfd4e.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-05-28 | [Financial Results For The Quarter And Year Ended 31.03.2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2501a563-3d89-4354-9182-6ec5f41e42eb.pdf) |
| 2026-01-31 | [Unaudited Financial Results For The Quarter And Nine Months Ended 31 Dec 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=80eb3e09-3134-4b25-a5f9-5e3a04d916a6.pdf) |
| 2025-11-13 | [Financial Results For The Quarter And Half Year Ended 30 Sep 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8ebe32bb-f65e-4d1b-8e58-b9c73a43f874.pdf) |
| 2025-08-12 | [Financial Results For The Quarter Ended 30.06.2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=31ba92f9-07d9-4a78-a1bf-740a6b3d3508.pdf) |
| 2025-05-27 | [Audited Financial Results For The Quarter And Year Ended 31 March 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8d67cbdc-f47a-4f49-a1bf-bc871fc947d7.pdf) |
| 2025-02-06 | [Financial Results For The Quarter And Nine Months Ended 31 Dec 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=00d6c43a-48a6-43de-a77d-a967547a4efa.pdf) |
| 2024-11-14 | [Financial Results For The Quarter And Half Year Ended 30 Sep 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a687ca61-9f6d-416e-8d5b-e2399b634d21.pdf) |
| 2024-08-09 | [Unaudited Financial Results 30 June 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=54c1529e-94de-45b8-be1b-f2984eef6eea.pdf) |
| 2024-05-30 | [Audited Financial Results For The Quarter And Year 31.03.204](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1b7e8635-dabc-42d4-a42c-c92066b0d3c4.pdf) |
| 2024-01-24 | [Unaudited Financial Results For The Quarter And Nine Months Ended 31.12.2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=be62fc89-abe4-46ba-ab95-4ff5de1b6e22.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 8 Apr - BDL filed FY26-27 initial disclosure, confirming it is not a large corporate. | [Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 8 Apr - BDL filed FY26-27 initial disclosure, confirming it is not a large corporate.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d5d1be82-b2d1-4fa5-bd54-e17267179bb1.pdf) |
| 6 Mar - Cmde. Sujay Kapoor (Retd) assumed charge as Director (Production) at BDL w.e.f. 06 March 2026. | [Announcement under Regulation 30 (LODR)-Change in Directorate 6 Mar - Cmde. Sujay Kapoor (Retd) assumed charge as Director (Production) at BDL w.e.f. 06 March 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/28e020c9-63c7-4183-b1ae-5e66f8f5cac1.pdf) |
| 5 Jan - Certificate under Reg 74 (5) of SEBI (DP) Regulation, 2018 for quarter ended December 31, 2025. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 5 Jan - Certificate under Reg 74 (5) of SEBI (DP) Regulation, 2018 for quarter ended December 31, 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e242a34a-e246-4d25-8637-0bcf4d8dca2b.pdf) |
| 5 Feb - MoD appointed Cmde Sujay Kapoor as BDL Director (Production) for five years; intimation received 05.02.2026. | [General Update 5 Feb - MoD appointed Cmde Sujay Kapoor as BDL Director (Production) for five years; intimation received 05.02.2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/13d329de-1d26-4598-bd4c-4c905dbb2200.pdf) |
| 4 Feb - Unaudited results for quarter and nine months ended Dec 31, 2025: standalone loss Rs.2,112.26 lakhs; auditors raise going-concern. | [Announcement under Regulation 30 (LODR)-Change in Management 4 Feb - Unaudited results for quarter and nine months ended Dec 31, 2025: standalone loss Rs.2,112.26 lakhs; auditors raise going-concern.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ce2f19b8-c795-4ee0-a0b3-90f487186bb7.pdf) |
| 4 Feb - Approved Q3/9M Dec31,2025 results: ~Rs2,119.4L loss; Hemant Patil appointed CFO; auditor qualified. | [Board Meeting Outcome for Outcome Of Board Meeting Held On Wednesday, February 04, 2025 4 Feb - Approved Q3/9M Dec31,2025 results: ~Rs2,119.4L loss; Hemant Patil appointed CFO; auditor qualified.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1e2e1d2b-0721-4e7c-9e60-dd01cc51da37.pdf) |
| 30 Apr - Cmde. A. Madhavarao retired on 30 Apr 2026; D. V. Srinivas Rao gets additional CMD charge till 31 Jul 2026. | [Announcement under Regulation 30 (LODR)-Change in Directorate 30 Apr - Cmde. A. Madhavarao retired on 30 Apr 2026; D. V. Srinivas Rao gets additional CMD charge till 31 Jul 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0645a3fa-77bf-4fd4-8c10-80664d0cf56c.pdf) |
| 30 Apr - Cmde. A. Madhavarao retired on 30 Apr 2026; D. V. Srinivas Rao gets additional CMD charge till 31 Jul 2026. | [Announcement under Regulation 30 (LODR)-Change in Directorate 30 Apr - Cmde. A. Madhavarao retired on 30 Apr 2026; D. V. Srinivas Rao gets additional CMD charge till 31 Jul 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/0645a3fa-77bf-4fd4-8c10-80664d0cf56c.pdf) |
| 29 Jan - Board meeting Feb 4, 2026 to approve unaudited Q3 and nine-month results. | [Board Meeting Intimation for For Consideration And Approval Of Unaudited Financial (Standalone And Consolidated) Statements For Quarter Ended December 31, 2025 29 Jan - Board meeting Feb 4, 2026 to approve unaudited Q3 and nine-month results.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e4afcf7a-3c07-4c32-ae85-ac60b6613387.pdf) |
| 26 Mar - BDL completed FOPM of Advanced Akash Weapon System on 26/03/2026; deliveries to Indian Armed Forces commencing shortly. | [General Updates On Advanced Akash Weapon Systems 26 Mar - BDL completed FOPM of Advanced Akash Weapon System on 26/03/2026; deliveries to Indian Armed Forces commencing shortly.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f9cfd385-7061-4dc4-a881-5be8d5338abb.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bbd6657e-c154-458b-b943-cc30b0d9e581.pdf) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/cdada735-72ab-4a53-b085-69f2e5336e13.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5df84b80-dda3-47bb-8a53-2dfd6ff541ca.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7952ee7c-4860-4426-9378-c7f1c8470329.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6708af81-aad4-4e87-b1c3-b3559fc51667.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fb488621-52f3-4c08-89f5-a0ad08f05e8a.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/541143/75090541143_05_09_22.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/540083/74273540083.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/541143/70688541143.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/540083/69954540083.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Sep 2022 | [Concall - Sep 2022](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=779eba0b-d288-4ea5-b1cf-ddd50acdbb95.pdf) |
| Sep 2022 | [Concall - Sep 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/779eba0b-d288-4ea5-b1cf-ddd50acdbb95.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/23a0a4d1-c656-433c-9252-a5d324763a98.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2a8f1f3e-8546-41aa-b627-0eb2c1a6884f.pdf) |
| Mar 2023 | [Concall - Mar 2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6aedffcf-4573-4fb0-b937-88ad3e7ff56c.pdf) |
| Mar 2023 | [Concall - Mar 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6aedffcf-4573-4fb0-b937-88ad3e7ff56c.pdf) |
| Jun 2024 | [Concall - Jun 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/18b1d19a-cd46-4aed-90f0-455f551813b7.pdf) |
| Jun 2023 | [Concall - Jun 2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4c9fe57c-f59f-4830-b432-a328b23c997c.pdf) |
| Jun 2023 | [Concall - Jun 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4c9fe57c-f59f-4830-b432-a328b23c997c.pdf) |
| Jun 2022 | [Concall - Jun 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0a3710a0-6a64-4eb8-a60a-4443e9b8bec2.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:25:38.181Z.