What will be the future of Bharat Electronics Ltd (NSE: BEL)? This article forecasts the BEL share price target for 2025 to 2030 using a fundamental analysis approach. As of May 2025, BEL shares are trading at ₹314.10 on the NSE. Based on our analysis, the price target of BEL stock in 2025 can be around ₹370. BEL may reach a price target of ₹610 in 2030. Given this forecast, investors should keep track of the current situation with BEL news and stock market news.
BEL Share Price Latest News
- Avantel Limited has received an order worth ₹17.7 crore from Bharat Electronics Limited for HF Software Defined Radios. (30 Apr 2025)
- BEL shares have increased by 4% to ₹319.45 amid strong trading volumes and a positive business outlook. (29 Apr 2025)
- HDFC Securities has advised buying BEL stock with a target of ₹323, considering market conditions and government deals. (28 Apr 2025)
- Nuvama has given a target of ₹385 for BEL, considering strong order book and revenue growth. (21 Apr 2025)
- BEL is likely to receive a radar order worth ₹2,200 crore from the Indian Air Force for MK-2 low-level lightweight radars; Motilal Oswal has given a target of ₹360 with a 28% upside. (15 Apr 2025)
BEL Overview & Revenue Breakdown
Bharat Electronics Ltd (BEL) was established in 1954, manufactures and supplies electronic equipment for the Indian defense sector, with a limited presence civilian market. It operates 29 business units in areas such as radar systems, communication systems, electronic warfare, and cybersecurity. The company is also expanding in civilian sectors such as smart cities, medical electronics, and space systems. As of July 2024, its order book is ₹76,705 crore, the majority of which are defence-related orders. The company has 9 manufacturing units across India.
The company generates 100% of its revenue from electronics. In terms of business verticals, 89.76% of revenue comes from defense and 10.24% from non-defense. Geographically, 96.02% of revenue comes from Indian markets and 3.98% from the international markets.
BEL Share Price Target by Brokerage
| Date | Brokerage | Price Target | Upside % |
| 21 Apr 2025 | Nuvama | ₹385 | 22.57% |
| 25 Mar 2025 | ICICI Securities | ₹350 | 11.43% |
| 17 Mar 2025 | SBI Securities | ₹337 | 7.29% |
| 7 Mar 2025 | Phillip Capital | ₹390 | 24.16% |
| 30 Jan 2025 | Motilal Oswal | ₹360 | 14.61% |
According to Yahoo Finance, the average price target for the BEL stock is ₹338.39. Out of 24 Wall Street analysts, 21 have given it a ‘Buy’ rating, 1 has given a ‘Hold’ rating, and 2 have recommended ‘Sell’. The consensus recommendation from 24 analysts is ‘Buy’.
BEL Share Price Target 2025-2030
| Year | Price Target | Change % |
| 2025 | ₹370 | 17.80% |
| 2026 | ₹409 | 30.21% |
| 2027 | ₹453 | 44.22% |
| 2028 | ₹500 | 59.18% |
| 2029 | ₹552 | 75.74% |
| 2030 | ₹610 | 94.21% |
Based on the estimates, the price target for BEL is ₹370 for 2025, which is a 17.80% upside from the current price. The target for 2030 is ₹610, an upside of 94.21%. Below is a detailed outlook and valuation analysis for BEL.
Bharat Electronics Limited has a strong order backlog of ₹71,650 crore as of May 2025, which is about 3.5x FY24 sales, which gives clear revenue visibility for the next few years. In Q3 FY25, the company reported a 25% increase in revenue to ₹5,770.7 crore and a 20% increase in net profit to ₹1,311 crore. The company expects to add fresh orders of around ₹25,000 crore in FY25 and ₹50,000 crore over the next two years, supported by growth across defense and non-defense segments. To support this, it aims for a gross profit margin of 40–42% and an EBITDA margin of 23–25% in FY25 and to raise non-defense turnover to 30% of total revenue. The company plans to generate 10% of revenue from exports by FY29–30, up from 0.5% in FY24–25, as it enters new markets. The company is expected to benefit from defense spending of ₹1.3 lakh crore over the next five years along with upcoming programs like QRSAM, LCA Mark 1A, and P-75I submarines.
The stock is currently trading at around 46x P/E, 14x P/B, and 27x EV/EBITDA. According to analysts, earnings per share estimates for FY2025, FY2026, and FY2027 are 11%, 4%, and 2%, respectively, driven by more local production, cost savings, and a strong mix of high-margin products. Key risks include more than 80% of sales coming from government contracts, and delays in system integration or parts supply can raise execution risks.
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