Bharat Dynamics Limited (BDL) was incorporated on 16 July, 1970 as a Public Sector Undertaking under the Ministry of Defence, Government of India to be the manufacturing base for guided missile systems and allied equipment for the Indian Armed Forces. Bharat Dynamics Limited (BDL) is one of India's manufacturers of ammunitions and missile systems. It was founded in 1970 in Hyderabad, India. Bharat Dynamics Limited (BDL) is one of the leading defence PSUs in India engaged in the manufacture of Surface to Air missiles (SAMs) Anti-Tank Guided Missiles (ATGMs) Torpedoes and Allied Defence Equipments.
The company has established itself as a critical player in India's defence manufacturing landscape, operating under the Ministry of Defence with a focus on indigenous defence production. Since its inception, BDL has been working in collaboration with DRDO & foreign Original Equipment Manufacturers (OEMs) for manufacture and supply of various missiles and allied equipment to Indian Armed Forces. BDL has been consistently incurring profits and has been nominated as a Mini Ratna – Category-I Company by the Government of India.
BDL has evolved as one among the few industries in the world having state-of-the-art facilities for manufacture and supply of Guided Missiles, Underwater Weapons, Air- borne products and allied defence equipment for the Indian Armed Forces. The Company also offers Product Life Cycle Support and Refurbishment / Life Extension of vintage Missiles. BDL has graduated from being a missile manufacturer to a Weapon System Integrator and has emerged as a complete solution provider for the Indian Armed Forces.
The company operates through multiple manufacturing facilities strategically located across India. BDL has four manufacturing units, out of which three are located in Telangana State (Hyderabad, Bhanur and Ibrahimpatnam) and one Andhra Pradesh (Visakhapatnam). As a part of its expansion plan, BDL is setting up one unit at Amravati in Maharashtra to cater to the growing demands of the Armed Forces. To meet the growing demands of the Indian Armed Forces and friendly foreign nations, BDL is setting up two new units in Amravati (Maharashtra) and Jhansi (Uttar Pradesh).
BDL offers a range of products, including Surface-to-Air Missiles, Air-to-Air Missiles, Air-to-Surface Weapons, Launchers, Test Equipment, Underwater Weapons, Counter Measure Systems, and Anti-Tank Guided Missiles. The company also provides Product Life Cycle Support and refurbishment services for vintage missiles in the Indian Armed Forces inventory.
One such product being produced by BDL is the Akash Weapon System, a Surface-to-Air indigenous Missile, involving of a large number of supply chain partners from the industry. Similarly, The Heavy Weight Torpedo and Light Weight Torpedo developed by NSTL, DRDO, are being manufactured by BDL at its Visakhapatnam facility. The Light Weight Torpedo is also being exported.
The company's product offerings include advanced missile systems such as the Astra Weapon System, Smart Anti-Airfield Weapon, Helina Air-to-Surface Weapon, and various anti-tank guided missiles including Nag, Konkurs-M, and Milan-2T. BDL has already exported Light Weight Torpedoes and is receiving interest from several countries for other products.
Bharat Dynamics Ltd has a market capitalisation of Rs 72,854 crore. The company has demonstrated strong financial performance in recent years, with significant revenue growth driven by increased defence spending and contract awards.
- Sales rose 41.37% to Rs 3323.07 crore in the year ended March 2025 as against Rs 2350.58 crore during the previous year ended March 2024.
- For the full year,net profit declined 10.29% to Rs 549.65 crore in the year ended March 2025 as against Rs 612.72 crore during the previous year ended March 2024.
- Sales rose 112.19% to Rs 1800.55 crore in the quarter ended March 2025 as against Rs 848.57 crore during the previous quarter ended March 2024.
- Net profit of Bharat Dynamics rose 8.96% to Rs 147.13 crore in the quarter ended December 2024 as against Rs 135.03 crore during the previous quarter ended December 2023. Sales rose 34.03% to Rs 799.29 crore in the quarter ended December 2024 as against Rs 596.35 crore during the previous quarter ended December 2023.
Bharat Dynamics (BDL) surged 5.33% to Rs 1194.05 after the Ministry of Defence (MoD) has signed a contract with the company for the supply of medium-range surface-to-air missiles (MRSAM) for the Indian Navy. The missiles would by supplied by BDL at a cost of approximately Rs 2,960 crore.
Bharat Dynamics Ltd is experiencing positive momentum due to anticipated defense contracts worth ₹30,000 crore and a joint development project with L&T Defence, leading to significant stock gains over the past month.
As of 31 December 2024, the government of India holds 74.93% stakes in the company. Promoter holding in Bharat Dynamics Ltd has gone up to 74.93 per cent as of Mar 2025 from 74.93 per cent as of Jun 2024. This strong government backing provides stability and aligns with India's strategic defence objectives.
The announcements made by Government of India on 'Atmanirbhar Bharat'' cover a wide range of opportunities for the Indian industry paving way for a self-reliant India in the coming years. To take forward the 'Atmanirbhar Bharat' initiative of the Government, BDL has taken up several measures such as creation of Seeker Facility Centre and Warheads production facility at BDL, launch of indigenously designed and developed equipment by BDL namely, Konkurs Launcher Test Equipment and Konkurs Missile Test Equipment, setting up of new facilities like Surface – Mount Technology, 'High Performance Computing facility' at BDL premises, issue of 'Expression of Interest' for the items to be indigenized.
The company also provides Product Life Cycle Support and refurbishment services for vintage missiles and is increasingly focusing on AI-based products by harnessing future-generation technologies. BDL is exploring new areas such as drone-delivered payloads, including bombs and missiles, and mines.
The company's strategic focus on modernization and expansion positions it well to capitalize on India's growing defence budget and the government's push for indigenous manufacturing. The company is debt free and has a strong balance sheet enabling it to report stable earnings growth across business cycles. Bharat Dynamics confirms it is not a large corporate under SEBI norms; no debt borrowings in FY 2024-25.
With its strong market position, government backing, and expanding product portfolio, Bharat Dynamics Limited remains a key player in India's defence manufacturing sector, well-positioned to benefit from the country's increasing focus on self-reliance in defence production.
