ANKUR TYAGI
Shares of defence majors Bharat Electronics Ltd (BEL) and Bharat Dynamics Ltd (BDL) saw a sharp uptick on Monday after the Indian Army rolled out a massive ₹30,000 crore tender for the ‘Anant Shastra’ missile system, also known as the Quick Reaction Surface-to-Air Missile (QRSAM).
Market Reaction
- BEL jumped nearly 3% to an intraday high of ₹405.75.
- BDL advanced over 2% to ₹1,529 on the National Stock Exchange.
By 10:30 am, BEL was trading 3% higher at ₹408, while BDL was up nearly 2% at ₹1,525.
Project Details
The Army aims to acquire five to six regiments of the indigenous missile system, with BEL designated as the lead integrator. Cleared earlier this year by the Defence Acquisition Council (DAC), the project is designed to strengthen India’s air defence capabilities along borders with Pakistan and China.
Mounted on high-mobility vehicles, the ‘Anant Shastra’ system can target:
- Fighter jets
- Drones
- Helicopters
It can engage aerial threats at ranges of 30–40 km and at altitudes of up to 10 km, complementing the existing Akash and MRSAM systems.
Defence Budget Boost
Reports also suggest that after Operation Sindoor, the government may provide an additional ₹50,000 crore allocation under a supplementary defence budget, further bolstering procurement plans.
Strong Order Pipeline for BEL & BDL
BEL already has a strong backlog, with orders worth ₹71,650 crore as of April 2025, spanning radars, communication equipment, and electronic warfare systems. Analysts believe the new tender will significantly enhance BEL’s order book and ensure multi-year revenue visibility.
BDL, a key missile manufacturer, is also expected to benefit through its role in the supply chain.
BEL Q1 Results (FY26)
Bharat Electronics posted a robust performance in the April–June quarter:
- Net profit: ₹969.91 crore (up 22.6% YoY)
- Revenue: ₹4,439.74 crore (up 4.6% YoY)
- EBITDA: ₹1,238 crore (up 30.6% YoY)
- EBITDA margin: 27.89% vs 22.34% last year
The strong financials, combined with fresh defence orders, are expected to drive long-term growth for the company.
Abhishek Sinha
