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BEL Share Price Target 2026: Citi has reviewed the performance of defence PSU Bharat Electronics. The brokerage has made a few observations while rating the Navratna stock and set a target price for investors. Citi noted that Bharat Electronics has signed a joint venture with Safran for HAMMER weapon systems, though this is subject to necessary approvals.
Bharat Electronics Share Price Target 2026
The joint venture will serve as a Centre of Excellence for manufacturing, maintenance, repair, overhaul (MRO), and support activities, with the Indian Navy positioned as the anchor customer.
The near-term financial impact from this development is expected to be limited, while the long-term outlook offers positive recurring revenue potential.
The company's order pipeline remains strong, exceeding Rs 1.7 trillion, and defence indigenisation continues to act as a key structural tailwind.
The target price is based on approximately 50 times the estimated September 2027 P/E multiple.
- Maintains Buy rating with a target price of Rs 525 (unchanged)
- BEL signs JV with Safran for HAMMER weapon systems (subject to approvals)
- JV to act as CoE for manufacturing, MRO and support; Navy to be anchor customer
- Near-term financial impact limited; long-term recurring revenue optionality positive
- Order pipeline strong (>Rs1.7trn); defence indigenisation remains structural tailwind
- Target Price based on ~50x Sep'27E P/E
BEL Share Price Target 2026
Citi stays bullish on Bharat Electronics, maintains Buy with target price at Rs 525 (unchanged)
The PSU stock closed at Rs 438.05, up 0.61 per cent from its previous closing on Monday.
The 52-week share price history is Rs 461.40 and Rs 240.15.
BEL Share Price History
The stock is over 6 per cent up in 1 month.
In 2026 (YTD), shares gained over 10 per cent.
In 3 and 6 months, the PSU stock rose over 2 per cent and 13 per cent, respectively.
In 1, 2, 3 and 5 years, shares went up 75 per cent, 132 per cent, 347 per cent and 888 per cent, respectively.
BEL Q3 Results FY26
Bharat Electronics' profit after tax (PAT) during the third quarter of 2025-26 stood at Rs 1,590.06 crore, with a growth of 20.82 per cent over the PAT of Rs 1,316.06 crore recorded in the corresponding period of the previous year.
The company achieved revenue from operations of Rs 7,121.98 crore, registering a growth of 23.73 per cent during the December quarter of 2025-26 against Rs 5,756.12 crore recorded in the corresponding period of the previous year.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
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