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Bharat Dynamics Limited (BDL) is an Indian defence public sector undertaking that manufactures guided missile systems and allied equipment for the Indian Armed Forces. Established in 1970 under the Ministry of Defence, BDL is the sole manufacturer in India for Surface to Air Missiles (SAMs), Anti-Tank Guided Missiles (ATGMs), and torpedoes. The company operates manufacturing facilities in Hyderabad, Bhanur, and Vishakhapatnam, producing various missile systems, underwater weapons, launchers, and test equipment. BDL collaborates with the Defence Research and Development Organisation (DRDO) and foreign original equipment manufacturers. The company also provides product life cycle support, refurbishment, and life extension services for missiles. In recent years, BDL has expanded its capabilities, inaugurating new facilities for warhead manufacturing, RF seekers, and central storage. The company has begun exporting selected defense equipment and has formed strategic alliances with public and private sector companies. As of March 31, 2023, the Government of India holds a 74.93% stake in BDL.
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Company insights, generated from the most recent coverage.
Q1 limited review flagged inventory risk from non-moving stock — signals potential execution inefficiencies despite strong order book of ₹22,814 Cr.
New CMD Shailesh Vagerwal took charge in July 2026 after previous CMD superannuation in April — leadership transition in PSU creates short-term strategy uncertainty.
Q1 FY27 net profit surged 6x YoY to ₹118.8 Cr with EBITDA turning positive at ₹83.1 Cr, yet stock barely moved on results day — classic 'sell the news' reaction after prior run-up.