Bharat Dynamics BDL
Naval Shipbuilding & Defence Shipyards: Government-owned guided-missile/torpedo maker - Varunastra heavyweight ASW torpedo, SAMs/ATGMs
Mapped in 4 themes: Naval Shipbuilding & Defence Shipyards, Aerospace Component Manufacturing & MRO, Rare-Earth Magnets (REPM) and Defence Procurement (DAC approvals).
Where Bharat Dynamics sits in the supply chain
Bharat Dynamics appears in 4 supply-chain layers across 4 themes: Naval Shipbuilding & Defence Shipyards, Aerospace Component Manufacturing & MRO, Rare-Earth Magnets (REPM) and Defence Procurement (DAC approvals).
Naval Shipbuilding & Defence Shipyards › Combat Systems, Weapons, Explosives & Ammunition
Direct supplierGovernment-owned guided-missile/torpedo maker - Varunastra heavyweight ASW torpedo, SAMs/ATGMs
Other companies in this layer
Aerospace Component Manufacturing & MRO › Systems Integration, Assembly EPC & Primes
Indirect supplierMissile-systems integrator adjacent to aerospace primes (not an aircraft-component supplier per se)
Other companies in this layer
Rare-Earth Magnets (REPM) › Defence & aerospace
Indirect supplierMissile maker - fin actuators and seekers use rare-earth magnets (inferred from how these parts are built; not disclosed)
Other companies in this layer
Defence Procurement (DAC approvals) › Missiles & air defence
OperatorGovernment-owned missile maker - Akash, Astra, anti-tank missiles, MRSAM and torpedoes
Other companies in this layer
Revenue and profit
| ₹ Cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 2,369 | 3,345 | 2,442 |
| Net profit | 613 | 550 | 420 |
Latest-year revenue ₹2,442 Cr (FY26, company-wide). Wider screens show FY22 onwards.
Strengths · in Naval Shipbuilding & Defence Shipyards
- Government-owned prime with effectively uncontested positioning on India's missile and heavyweight torpedo programmes (Varunastra, SAMs/ATGMs)
Risks · in Naval Shipbuilding & Defence Shipyards
- Revenue has been volatile year to year, tied to lumpy government order execution
- Order book concentrated in a few large missile/torpedo programmes
Common questions
What does Bharat Dynamics do?
In Naval Shipbuilding & Defence Shipyards: Government-owned guided-missile/torpedo maker - Varunastra heavyweight ASW torpedo, SAMs/ATGMs. NextResearch maps it in 4 supply chains: Naval Shipbuilding & Defence Shipyards, Aerospace Component Manufacturing & MRO, Rare-Earth Magnets (REPM) and Defence Procurement (DAC approvals).
Where does Bharat Dynamics sit in the supply chain?
Bharat Dynamics (NSE: BDL) is mapped in 4 supply-chain layers: Combat Systems, Weapons, Explosives & Ammunition (Naval Shipbuilding & Defence Shipyards); Systems Integration, Assembly EPC & Primes (Aerospace Component Manufacturing & MRO); Defence & aerospace (Rare-Earth Magnets (REPM)); and Missiles & air defence (Defence Procurement (DAC approvals)).
Who are Bharat Dynamics' peers?
In the Combat Systems, Weapons, Explosives & Ammunition layer of Naval Shipbuilding & Defence Shipyards: Solar Industries India, Premier Explosives and Zen Technologies.
What is Bharat Dynamics' market cap and valuation?
As of 30 Oct 2026: market cap ₹35,739 Cr, P/E 68.6x, ROCE 13.9%, ROE 10.2%, dividend yield 0.50%.