Bharat Dynamics Ltd. News and Updates

Name: Latest research reports of Bharat Dynamics Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Bharat Dynamics Ltd.
Rating: 3
Author: ICICI Securities Limited

Keep track of all breaking news on Bharat Dynamics Ltd. from all sources in a single place.

Bharat Dynamics Ltd.

15 Nov 2025

1509.70

0.35%

Strong performance; guides for revenue CAGR of over 30% backed by order book

Hold: Bharat Dynamics Ltd.

Recommendation Target

ICICI Securities Limited

BDL’s Q2FY26 performance beat consensus expectation as EBITDA grew 90% YoY driven by strong sales (+114% YoY). EBITDA margin fell 180bps YoY to 16.3%, implying an adverse product mix (gross margin was lower) and potentially higher R&D expenses (other expenses were higher).

ICICI Securities Limited downgraded Bharat Dynamics Ltd. to Hold with a price target of 1590.0 on 15 Nov, 2025.

Bharat Dynamics Ltd.

13 Nov 2025

1509.70

0.35%

Execution ramping up

Buy: Bharat Dynamics Ltd.

Recommendation Target

Motilal Oswal

Bharat Dynamics (BDL) delivered a strong performance in 2QFY26 as supply chain issues started easing out, resulting in a sharp execution ramp-up. However, margins were affected by project mix during the quarter.

Bharat Dynamics Ltd. is trading below all available SMAs

Bharat Dynamics Ltd.

10 Jul 2025

1509.70

0.35%

Lock, Load, Succeed!

Neutral: Bharat Dynamics Ltd.

Motilal Oswal

Bharat Dynamics (BDL) is a prominent player in missile technology within the defense sector and has established itself as a leading integrator for various missile platforms.

Number of FII/FPI investors decreased from 216 to 184 in Sep 2025 qtr

Bharat Dynamics Ltd.

10 Jun 2025

1509.70

0.35%

Company Note

Not Rated: Bharat Dynamics Ltd.

Minerva Capital Research Solutions

Healthy order book of INR 22,700 Cr. (Apr’25) translating into 6.8x order book / FY25 sales (highest amongst peers), strategic importance to GoI (prime production agency for guided weapons systems) and expected improvement in operating margins.

Bharat Dynamics Ltd. is trading below all available SMAs

Bharat Dynamics Ltd.

08 Feb 2025

1509.70

0.35%

Conspicuous execution uptick

Buy: Bharat Dynamics Ltd.

ICICI Securities Limited

Bharat Dynamics (BDL) reported a healthy Q3FY25 performance. EBITDA (adj. for provisions created) sored 120% YoY to INR 2.6bn while revenue surged 34% YoY to INR 7.9bn.

Bharat Dynamics Ltd. is trading below all available SMAs

Bharat Dynamics Ltd.

15 Feb 2024

1509.70

0.35%

Bharat Dynamics

Buy: Bharat Dynamics Ltd.

Target

ICICI Direct

Bharat Dynamics Ltd. is trading below all available SMAs

Bharat Dynamics Ltd.

04 Nov 2023

1509.70

0.35%

Steady execution; see no risk to our FY24E revenue guidance of INR 32bn

Buy: Bharat Dynamics Ltd.

ICICI Securities Limited

Bharat Dynamics’ (BDL) Q2FY24 performance was resilient led by pick-up in execution. Key points: 1) In our view, profitability was aided by execution of ATGMs – most of which have high indigenous content; 2) revenue growth was partially aided by making up of some shortfall in FY23; and 3) other income was aided by customer advances received post ordering of Akash 3rd and 4th regiment.

Bharat Dynamics Ltd. has lost -22.98% in the last 6 Months

Bharat Dynamics Ltd.

01 Sep 2023

1509.70

0.35%

V Raja Ram is new Director of BDL

Business Line

Raja Ram has served as Executive Director and Unit Head of Kanchanbagh Unit, Hyderabad of BDL

Number of FII/FPI investors decreased from 216 to 184 in Sep 2025 qtr

Bharat Dynamics Ltd.

10 Aug 2023

1509.70

0.35%

Buy Bharat Dynamics; target of Rs 1325: ICICI Securities

Moneycontrol

ICICI Securities is bullish on Bharat Dynamics recommended buy rating on the stock with a target price of Rs 1325 in its research report dated August 08, 2023.

Bharat Dynamics Ltd. has lost -22.98% in the last 6 Months

Bharat Dynamics Ltd.

08 Aug 2023

1509.70

0.35%

Slow start, but prospects remain bright

Buy: Bharat Dynamics Ltd.

ICICI Securities Limited

Bharat Dynamics (BDL) reported loss at the EBITDA level in Q1FY24. Key points: 1) revenue was down 57% YoY as the quarter did not have certain deadline-specific orders it had last year ; 2) fixed costs remained broadly stable; 3) other income surged on the back of advances (mainly for Akash 3rd and 4th regiments); and 4) orderbook as of 30th Jun’23 was at INR 202.2bn, implying orderbook/revenue (ttm) of 9.7x.

Bharat Dynamics Ltd. has gained 35.19% in the last 1 Year

Is Bharat Dynamics Ltd. worth buying?

644 Votes:

Buy 77.95%

Sell 7.92%

Hold 14.13%

RESEARCH REPORTS

Hold SEE REPORTS >

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