NSE: BDL | BSE: 541143

Expensive Underperformer

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1253.70 10.10 (0.81%)

40.20% Fall from 52W High

712.6K NSE+BSE Volume

NSE 16 Feb, 2026 3:31 PM (IST)

45,955.9

Market Cap

High in industry

Beta 1Year

Very High Volatility

Bharat Dynamics Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for BDL, BSE:541143 Bharat Dynamics Ltd.

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Bharat Dynamics Ltd.

31 Jan 2026

1253.70

0.81%

Weak performance

buy: Bharat Dynamics Ltd.

Target

Motilal Oswal

Bharat Dynamics (BDL)’s 3QFY26 performance was weaker than our expectations. Execution was impacted due to delays in component integration from other vendors, while margin was hit by lower revenue and a higher share of bought-out components for Akash and Astra Mk-1.

Bharat Dynamics has lost -20.54% in the last 6 Months

Bharat Dynamics Ltd.

15 Nov 2025

1253.70

0.81%

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).

Bharat Dynamics Ltd. is trading below all available SMAs

Bharat Dynamics Ltd.

13 Nov 2025

1253.70

0.81%

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.

Number of FII/FPI investors decreased from 184 to 166 in Dec 2025 qtr

Bharat Dynamics Ltd.

10 Jul 2025

1253.70

0.81%

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.

Motilal Oswal decreased Buy price target of Bharat Dynamics Ltd. to 1800.0 on 31 Jan, 2026.

Bharat Dynamics Ltd.

10 Jun 2025

1253.70

0.81%

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 has lost -17.17% in the last 1 Month

Bharat Dynamics Ltd.

08 Feb 2025

1253.70

0.81%

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.

Motilal Oswal decreased Buy price target of Bharat Dynamics Ltd. to 1800.0 on 31 Jan, 2026.

Bharat Dynamics Ltd.

15 Feb 2024

1253.70

0.81%

Bharat Dynamics

Buy: Bharat Dynamics Ltd.

Target

ICICI Direct

Bharat Dynamics has lost -22.31% in the last 3 Months

Bharat Dynamics Ltd.

04 Nov 2023

1253.70

0.81%

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 has lost -20.54% in the last 6 Months

Bharat Dynamics Ltd.

08 Aug 2023

1253.70

0.81%

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.