BEL (BEL) Share Price
BEL · M.Cap ₹2,89,464 CrBEL trades at 45.22x TTM P/E (vs PSU & Defense sector median of 32.5x) with a 28.2% operating margin and ₹6,401 Cr annual net profit.
BEL Share Price Chart & Multi-Horizon Returns
BEL · 3M Price Action & VolumeSession Reference & Price Bands
NSE / BSE CashRange Positioning
Spot ₹396.00Market Depth & Order Flow (BEL)
Combined NSE + BSE Order Book · 5-Level Bid/Ask Microstructure
| Bid Price | Exch | Orders | Qty |
|---|---|---|---|
| 0.00 | NSE | 0 | 0 |
| 0.00 | NSE | 0 | 0 |
| 0.00 | NSE | 0 | 0 |
| 0.00 | NSE | 0 | 0 |
| 0.00 | NSE | 0 | 0 |
| Ask Price | Exch | Orders | Qty |
|---|---|---|---|
| 0.00 | NSE | 0 | 0 |
| 0.00 | NSE | 0 | 0 |
| 0.00 | NSE | 0 | 0 |
| 0.00 | NSE | 0 | 0 |
| 0.00 | NSE | 0 | 0 |
BEL (BEL) Consolidated Profit & Loss Statement
Annual Financial Performance (Figures in ₹ Crore)
| Line Item (₹ Cr) | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue / Sales | 15,368 | 17,734 | 20,268 | 23,769 | 27,610 | 30,253 |
| Operating Expenses | 12,024 | 13,645 | 15,217 | 16,932 | 19,557 | 21,715 |
| Operating Profit (EBIT/EBITDA) | 3,344 | 4,090 | 5,051 | 6,837 | 8,053 | 8,538 |
| Other Income | 232 | 281 | 670 | 742 | 566 | 605 |
| Interest & Depreciation | 410 | 448 | 455 | 480 | 566 | 647 |
| Profit Before Tax (PBT) | 3,166 |
Multi-Factor Quant Scores & Investment Thesis (BEL)
Grounded Factor Decomposition & Institutional Bull vs. Bear Debate
RSI 65.5 · SMA20 ₹377.01
PAT ₹6,401 Cr · OPM 28.2%
Support ₹380.00 · Max Pain ₹400.00
Promoter 51.1% · FII+DII 38.8%
- Strong Put OI Floor at ₹380.00: Put writers have accumulated 5,41,500 OI at the ₹380.00 strike, acting as an institutional demand zone.
- Resilient Operating Cash & TTM PAT of ₹6,401 Cr: BEL generated ₹8,538 Cr operating profit on ₹30,253 Cr revenue (28.2% operating margin).
- High Institutional & Promoter Skin-in-the-Game (90.0%): Promoters hold 51.14%, complemented by 16.99% FII and 21.86% DII holdings as of Sep 2026.
PSU & Defense Peer Comparison
Benchmarked by Market Cap, P/E, P/B, Dividend Yield & 1M Returns
| Company | Price (₹) | M.Cap (Cr) | P/E (x) | P/B (x) | Div Yld % | 1M Return |
|---|---|---|---|---|---|---|
| BEL Ltd. | 396.00 | 2,89,464 | 45.22 | 11.02 | 0.75% | +7.81% |
| Rail Vikas Nigam Ltd | 478.50 | 99,768 | 64.20 | 11.40 | 0.44% | +14.20% |
| Indian Renewable Energy Development Agency Ltd | 218.75 | 58,790 | 41.20 | 6.45 | 0.00% | +9.80% |
| Indian Railway Finance Corporation Ltd | 156.40 | 2,04,390 | 31.80 | 4.15 | 0.96% | +8.60% |
| Hindustan Aeronautics Ltd | 4,412.00 | 2,95,060 |
BEL Options Chain & OI Analytics
Active Expiry: 2026-11-23 · Spot ₹396.00 · Max Pain ₹400.00
| Call OI | Call LTP | Strike (₹) | Put LTP | Put OI |
|---|---|---|---|---|
| — | ₹7.70 | 380.00 | ₹11.15 | 5.42L (Floor) |
| 0.44L | ₹11.80 | 385.00 | ₹13.70 | 1.50L |
| 4.19L | ₹4.15 | 390.00 | ₹16.45 | 3.85L |
| 0.19L | ₹8.30 | 395.00 (ATM) | ₹17.80 | 0.91L |
| 5.87L | ₹6.40 | 400.00 | ₹22.30 | 5.44L |
| 0.85L | ₹5.65 | 405.00 | ₹30.15 | 0.03L |
- Resistance wall is stronger: Call OI resistance is more concentrated than put OI support.
- Balanced options positioning: Current PCR and OI wall evidence is balanced, so options positioning is not strongly directional.
- Neutral PCR: Put-call OI ratio is near neutral.
BEL Latest News & Exchange Filings
Curated Market Updates, Announcements & Sentiment
Patakha stock picks! ICICI Bank, BEL, 6 other stocks with 62% to buy this Samvat 2023. See full list
In this environment, sustainable wealth creation is likely to depend less on broad-based market movements and more on identifying businesses capable of delivering consistent earnings growth.
Diwali stock picks: 4 large cap stocks to buy for Samvat 2083 - PL Capital bullish on BEL, Britannia to ICICI | Target
PL Capital named Bharat Electronics, Britannia Industries, ICICI Bank and Shriram Finance among its top large-cap picks for Samvat 2083. 
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