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BDL

Bharat Dynamics Limited · NSE · INE171Z01026 · F&O · lot 425 · 272 sessions on record
₹1,087.90▼ −22.20 · −2.0%from ₹1,110.10 the session before · 1 Oct 2026 close · NSE end of day
Open
₹1,103.00
High
₹1,115.70
Low
₹1,071.20
Day's range
₹454.0% of the previous close
VWAP
₹1,090.31close −0.22% from it
Volume, shares
9.3 L0.87× the 20-session average
Turnover, ₹ crore
100
Trades
50,00019 shares per trade
Previous close
₹1,110.10−22.20 to the close
Price band, next session
₹979.10 – ₹1,196.7010% either side of the close · dynamic, widened in 5% steps when hit
Day range38% of the way up
₹1,071.20₹1,115.70
52-week range3% of the way up
₹1,071.20 1 Oct₹1,633.40 14 Nov

−33% from the high · +1.6% from the low

The desk read · 1 Octexpiry 27 Oct · 26 days
short build-up
futures read
price −2.0% · OI +0.6%
−3.20
futures premium, ₹
−0.3% to spot ₹1,087.90
0.75
puts per call, by OI
by volume 0.37
1,160
max pain
+6.6% from the close
▲ +0.6%
futures OI on the day
+110 lots · 19,000 open

Short build-up into a 26-day expiry: futures OI +0.6% on a −2.0% day, the most call OI sits at 1,200, the most put OI at 1,100, max pain 1,160.

Futures and options

1 Oct close · lot 425 · NSE end of day

BDL futures closed at ₹1,084.70, −0.3% to spot, with 93% of open interest in the 27 Oct contract, and the 1,080 straddle prices a move of about ±7.2% by expiry.

Futures by expiryall 3 contracts NSE lists on the stock · basis against the spot close ₹1,087.90
Futures by expiry, basis against the spot close ₹1,087.90
ExpiryClose ₹Basis ₹ · %Annualised %OI lots · on the dayShare of OI %Contracts traded
27 Oct26 days₹1,084.70−3.20−0.3%−4.1%18,000▲ +0.3% · +53 lots931,900
23 Nov53 days₹1,072.90−15.00−1.4%−9.5%1,300▲ +2.4% · +31 lots6.7230
29 Dec89 days₹1,067.90−20.00−1.8%−7.5%42▲ +133.3% · +24 lots0.2224

6.9% of futures OI sits beyond the 27 Oct contract · 43 of 57 listed contracts traded · 8,300 option contracts changed hands

Options27 Oct expiry · 26 days

The 1,080 straddle closed at ₹78.65 (call 42.10 + put 36.55), pricing a move of about ±7.2% by the 27 Oct expiry. In the last 253 windows of 19 sessions, BDL moved more than that 129 times.

Call OI, lots
9,20039 L shares
Put OI, lots
6,90029 L shares
Puts per call, by OI
0.75by volume 0.37
Max pain
1,160+6.6% from the close
Contracts traded
43 of 57listed for this expiry
Open interest by strike, lotstop three strikes each side
Calls
Strike
Puts
2,200
1,200
1,400
1,160
1,120
750
810
1,100
990
1,060
910
Open interest added on the day, lotsthree largest additions each side
Calls
Strike
Puts
+120
1,200
+94
1,120
+130
1,080
+25
1,040
+32
980
+33
Close ₹ · Nifty 50 rebased to the first close · futures open interest by the day's build-up126 sessions to 1 Oct · axis fixed at 4 × ATR-14 around the last close
272 sessions on file · from 28 Aug
BDL close and futures open interest over the last 126 sessions, with Nifty 50 rebased to the first close942.1212051467axis spans 56%Nifty 50BDL1 Apr6 Jul1 OctFutures open interest, lotspeak 27,000126 sessions from 1 Apr to 1 Oct; the price axis spans 56 percent.

The market after the news

close against the last close before each bulletin · Nifty 50 over the same sessions

After the last 8 bulletins, BDL closed higher five sessions later in 4 of 7.

Close after each bulletin on the day, one session later and five sessions later, with Nifty 50 and futures open interest
BulletinDay of the news1 session later5 sessions laterFutures OI on the day
24 SeptMinistry of Defence signs ₹811 crore contract for glide bombs▼ −1.3%Nifty +0.3% · −1.6 pp▼ −3.5%Nifty −1.2% · −2.2 pp—not reached▼ −7.2%long unwinding
24 SeptMoD signs ₹811 crore deal for SAT-SAAW bombs▼ −0.5%Nifty −1.6% · +1.1 pp▼ −1.8%Nifty −1.3% · −0.5 pp▼ −6.3%Nifty −4.4% · −1.9 pp▼ −4.4%long unwinding
15 AugBharat Dynamics reports Q1 revenue up 130% YoY▼ −1.3%Nifty −0.3% · −1.0 pp▼ −0.4%Nifty −0.9% · +0.5 pp▼ −2.1%Nifty −0.6% · −1.6 pp▲ +4.4%short build-up
26 JunBharat Dynamics wins ₹1,348 cr order, Airtel rating upgraded▼ −2.4%Nifty −0.5% · −2.0 pp0.0%Nifty −0.8% · +0.8 pp▲ +3.0%Nifty +1.6% · +1.4 pp▲ +9.4%short build-up
25 JunBDL secures ₹1,348 cr order, Airtel rating upgraded▼ −2.4%Nifty −0.5% · −2.0 pp0.0%Nifty −0.8% · +0.8 pp▲ +3.0%Nifty +1.6% · +1.4 pp▲ +9.4%short build-up
4 AprDefence stocks poised for growth after ₹2.38 lakh cr DAC approvals▲ +3.3%Nifty +1.1% · +2.2 pp▲ +4.2%Nifty +1.8% · +2.4 pp▲ +12.4%Nifty +5.0% · +7.5 pp▼ −5.1%short covering
25 MarBharat Dynamics expands manufacturing capacity with new facilities▼ −3.8%Nifty −2.1% · −1.7 pp▼ −7.2%Nifty −4.2% · −3.1 pp▲ +4.5%Nifty −0.8% · +5.3 pp▲ +17.2%short build-up
11 MarDefence stocks decline as Nifty India Defence index falls▼ −0.8%Nifty −0.9% · +0.2 pp▼ −3.5%Nifty −3.0% · −0.5 pp▼ −7.5%Nifty −3.6% · −3.9 pp▲ +0.3%short build-up
8 of 22 bulletins

Quarterly results

standalone · latest filed 14 Aug, 04:13 pm IST · NSE filings

Revenue ₹572 cr, +130% on a year earlier; profit ₹119 cr, +550% in the Jun 2026 quarter, standalone.

Last 8 quarters, standalone₹ crore as filed · year on year against the same quarter a year earlier · market: close on the first session after the filing against the last close before it, Nifty 50 over the same session
Quarterly results of BDL on the standalone basis with the market's move on the first session after each filing
QuarterRevenue ₹ crRevenue YoYProfit ₹ crProfit YoYEPS ₹Market on the day
Jun 2026filed 14 Aug₹572 cr▲ +130%₹119 cr▲ +550%3.24▼ −1.3%Nifty −0.3% · −1.0 pp
Mar 2026filed 28 May · audited₹480 cr▼ −73%₹113 cr▼ −48%3.09▼ −6.0%Nifty −1.5% · −4.5 pp
Dec 2025filed 31 Jan₹567 cr▼ −32%₹73 cr▼ −50%1.99▼ −10.0%Nifty −2.0% · −8.1 pp
Sept 2025filed 13 Nov₹1,147 cr▲ +110%₹216 cr▲ +76%5.89▲ +6.3%Nifty +0.1% · +6.2 pp
Jun 2025filed 30 Jun₹248 cr▲ +30%₹18 cr▲ +150%0.50▲ +2.8%Nifty −0.5% · +3.3 pp
Mar 2025filed 27 May · audited₹1,777 cr▲ +110%₹218 cr▼ −25%7.44▼ −2.2%Nifty −0.3% · −1.9 pp
Dec 2024filed 7 Mar₹832 cr▲ +38%₹147 cr▲ +8.9%4.01▲ +6.5%Nifty 0.0% · +6.5 pp
Sept 2024filed 15 Nov₹545 cr▼ −12%₹123 cr▼ −17%3.34▼ −5.0%Nifty −0.3% · −4.7 pp
By financial yearApril to March · each year the sum of its four quarters as filed, standalone · EPS summed across the quarters · only complete years
Financial-year results of BDL on the standalone basis, summed from the quarters filed
YearRevenue ₹ crRevenue YoYProfit ₹ crProfit YoYEPS ₹
FY26to Mar 2026₹2,442 cr▼ −27%₹420 cr▼ −15%11.47
FY25to Mar 2025₹3,345 cr▲ +41%₹495 cr▼ −19%14.99
FY24to Mar 2024₹2,369 cr—₹613 cr—25.56

Fundamentals

standalone · filings to Jun 2026 · close ₹1,087.90 on 1 Oct

BDL trades at 77 times trailing earnings against 39 for its industry, 9.4 times book value, revenue −19% over twelve months, a 0.94% dividend yield, market cap ₹40,000 cr.

Valuationarithmetic on filings and the close · each cell names what it rests on · — where an input is missing
Market cap
₹40,000 cron 1 Oct · free float ₹10,000 cr
Price to earnings
77standalone · four quarters to Jun 2026 · industry 39
Trailing EPS
₹14.21diluted · standalone · four quarters to Jun 2026
Price to book
9.4standalone · balance sheet to Mar 2026
Book value a share
₹115.70standalone · balance sheet to Mar 2026 · over NSE's share count
Debt to equity
0.00borrowings over equity · standalone · balance sheet to Mar 2026
Return on equity
13%trailing profit over average equity · standalone
Dividend yield
0.94%₹10.20 a share in 365 days
Face value
₹5a share
Shares outstanding
37 cron 1 Oct
Growthsums of the four quarters filed to Jun 2026 · growth against the four quarters before them · standalone
Revenue, trailing 12 months
₹2,766 crfour quarters to Jun 2026
Revenue growth, 12 months
▼ −19%against the twelve months before
Revenue 3-year CAGR
▲ +9.8%trailing twelve months against the twelve months 3 years earlier · standalone
Profit, trailing 12 months
₹521 crfour quarters to Jun 2026
Profit growth, 12 months
▲ +3.0%against the twelve months before
Profit 3-year CAGR
▲ +14%trailing twelve months against the twelve months 3 years earlier · standalone
PeersBSE sub-group Aerospace & Defense · F&O stocks with filings on record · industry P/E 39, market caps over trailing profit of 3 stocks
Stocks in the BSE sub-group Aerospace & Defense with market cap, price to earnings and price to book
StockMarket cap ₹P/EP/BClose ₹
HALHindustan Aeronautics Limited3,10,000 cron 1 Oct33consolidated7.5₹4,601.00
BELBharat Electronics Limited2,80,000 cron 1 Oct46consolidated12₹383.10
BDLBharat Dynamics Limited40,000 cron 1 Oct77standalone9.4₹1,087.90
GRSEGarden Reach Shipbuilders & Engineers Limited24,000 cron 1 Oct—9.2₹2,111.10
DATAPATTNSData Patterns (India) Limited24,000 cron 1 Oct—14₹4,251.30
AEQUSAequs Limited18,000 cron 1 Oct—12₹275.05
ASTRAMICROAstra Microwave Products Limited15,000 cron 1 Oct—12₹1,624.50
APOLLOApollo Micro Systems Limited15,000 cron 1 Oct—11₹394.00
ZENTECZen Technologies Limited14,000 cron 1 Oct—7.3₹1,576.10
PARASParas Defence and Space Technologies Limited10,000 cron 1 Oct—14₹1,276.00
AXISCADESAXISCADES Technologies Limited9,800 cron 1 Oct—13₹2,307.30
UNIMECHUnimech Aerospace and Manufacturing Limited9,000 cron 1 Oct—12₹1,773.00
MIDHANIMishra Dhatu Nigam Limited8,100 cron 1 Oct—5.3₹433.60
CYIENTDLMCyient DLM Limited7,100 cron 1 Oct—7.0₹893.90
CENTUMCentum Electronics Limited6,900 cron 1 Oct—21₹4,701.70
ROSSTECHRossell Techsys Limited5,700 cron 1 Oct—37₹1,522.30
AVANTELAvantel Limited4,000 cron 1 Oct—12₹150.30
IDEAFORGEIdeaforge Technology Limited3,700 cron 1 Oct—6.1₹735.00
JAYKAYJaykay Enterprises Limited2,600 cron 1 Oct—3.8₹201.45
SIKASika Interplant Systems Limited2,200 cron 1 Oct——₹1,018.20
NIBENIBE Limited1,900 cron 1 Oct—5.4₹1,234.50
DCXINDIADCX Systems Limited1,800 cron 1 Oct—1.2₹159.00
TANAATaneja Aerospace & Aviation Limited830 cron 1 Oct——₹324.15
KAVDEFENCEKavveri Defence & Wireless Technologies Limited430 cron 17 Sept—3.9₹71.65
SIGMAADVSIGMA ADVANCED SYSTEMS LIMITED————

Shareholding

quarter to 30 Jun · none pledged · NSE filings

Promoters hold 74.9%, foreign portfolio investors 1.7%, mutual funds 6.4% and insurance companies 3.4%, as filed for the quarter to 30 Jun.

By category, last 5 quarterspercent of shares · beneath each figure, the change in percentage points against the previous quarter on file
Shareholding of BDL by category over the last 5 quarters with the change against the previous quarter
Category30 Jun31 Mar31 Dec30 Sept30 Jun
Promoters74.930.00 pp74.930.00 pp74.930.00 pp74.930.00 pp74.93
Foreign portfolio investors1.69▼ −0.33 pp2.02▼ −0.27 pp2.29▼ −0.14 pp2.43▼ −1.34 pp3.77
Mutual funds6.42▲ +0.85 pp5.57▲ +0.05 pp5.52▼ −0.27 pp5.79▲ +1.01 pp4.78
Insurance companies3.35▼ −0.11 pp3.46▼ −0.09 pp3.55▼ −0.19 pp3.74▼ −0.49 pp4.23
Banks and financial institutions1.76▼ −0.18 pp1.94▲ +0.07 pp1.87▲ +0.10 pp1.77▲ +0.68 pp1.09
Individual investors10.73▼ −0.37 pp11.10▲ +0.13 pp10.97▲ +0.50 pp10.47▲ +0.14 pp10.33
Bodies corporate0.52▼ −0.01 pp0.53▲ +0.06 pp0.47▲ +0.04 pp0.430.00 pp0.43
Others0.60▲ +0.13 pp0.47▲ +0.07 pp0.40▼ −0.04 pp0.440.00 pp0.44

Corporate actions

NSE and BSE records

Nothing upcoming on record; the last was a dividend of ₹0.40 a share, ex-date 21 Sept 2026.

Actionsex-dates · upcoming first, then the last eight · dividends in rupees a share, bonus and split as ratios
Corporate actions of BDL, upcoming first, then the most recent
Ex-dateActionAmount or ratioRecord dateSource
recent
21 Sept 2026dividend₹0.4021 Sept 2026PR
9 Feb 2026dividend₹4.509 Feb 2026BSE
19 Sept 2025dividend₹0.6519 Sept 2025BSE
14 Feb 2025dividend₹4.0014 Feb 2025BSE
23 Sept 2024dividend₹0.85—BSE
24 May 2024split10→524 May 2024BSE
2 Apr 2024dividend₹8.852 Apr 2024BSE
Calendaras notified to the exchange
Next results
—no board meeting notified yet
Dividends in 365 days
₹10.20a share · ex-dates inside the year
Last dividend
₹0.40ex-date 21 Sept 2026

Price history

272 sessions on record · to 1 Oct · NSE end of day

BDL is −13.2% over 20 sessions against Nifty's −6.2%, 33% below its 52-week high, realised volatility 29% annualised.

Returns against Nifty 50longest window first · Nifty 50 over the same sessions
Returns of the stock and Nifty 50 over six windows, longest first
WindowFrom ₹BDL %Nifty 50 %Difference pp
250 sessionssince 26 Sept₹1,497.87▼ −27%▼ −9.1%−18
120 sessionssince 9 Apr₹1,325.58▼ −18%▼ −5.7%−12
60 sessionssince 8 Jul₹1,337.47▼ −19%▼ −6.1%−13
20 sessionssince 2 Sept₹1,253.63▼ −13%▼ −6.2%−7.0
5 sessionssince 24 Sept₹1,155.01▼ −5.8%▼ −2.8%−3.0
1 sessionsince 30 Sept₹1,110.10▼ −2.0%▼ −0.88%−1.1
Averages of the closeclose against each average
5-session average
₹1,107.62close −1.8% from it
20-session average
₹1,170.83close −7.1% from it
50-session average
₹1,252.08close −13% from it
200-session average
₹1,318.24close −17% from it
Range and volumetrue range over 14 sessions · high to low over 20 · volume against the 20-session average
Average true range, 14
₹363.4% of the close
Average day's range, 20
₹312.9% of the close
Volume against 20 sessions
0.87×9.3 L vs 11 L average
Volatility and co-movement with Nifty 50annualised from daily log returns · counts share one denominator per cell
Realised volatility, 20
29%≈ ±1.9% a session · moved more than that on 8 of 20
Realised volatility, 60
29%≈ ±1.8% a session · moved more than that on 22 of 60
Realised volatility, 250
37%≈ ±2.3% a session · moved more than that on 64 of 250
Beta to Nifty, 60
0.72moved with Nifty on 30 of 60 sessions
Beta to Nifty, 250
1.38moved with Nifty on 161 of 250 sessions
Up and down sessionscloses above and below the previous close
Last 20 sessions
6 up · 14 downof 20
Last 60 sessions
24 up · 35 downof 59
Last 250 sessions
118 up · 130 downof 248
Best session, 250
▲ +9.8%1 Apr
Worst session, 250
▼ −10%1 Feb

Bharat Dynamics Limited is in 16 NSE indices

all 16 indices

22 bulletins on BDL

latest 24 Sept 2026

Beats in the coverage

Often mentioned with

September 2026

Ministry of Defence signs ₹811 crore contract for glide bombsThe Ministry of Defence signed a ₹810.79-crore contract with Bharat Dynamics Limited for 160 Satellite Smart Anti-Airfield Weapons to enhance the IAF's precision strike capability. This move supports indigenization in defense manufacturing.High MoD signs ₹811 crore deal for SAT-SAAW bombsThe Ministry of Defence signed a ₹810.79-crore contract with Bharat Dynamics Limited for 160 SAT-SAAW glide bombs to enhance the Indian Air Force's precision strike capability. This deal emphasizes the government's commitment to indigenous defense production.High

August 2026

Bharat Dynamics reports Q1 revenue up 130% YoYBharat Dynamics reported Q1 FY27 revenue of ₹572.24 crore, up 130.8% YoY, with net profit rising 547.5% to ₹118.79 crore. The stock was trading 1% higher post-results but remains down 6% YTD.High

June 2026

Bharat Dynamics wins ₹1,348 cr order, Airtel rating upgradedBharat Dynamics secured a ₹1,347.71 cr order from HAL for Helina Launchers, while Bharti Airtel's credit rating was upgraded to BBB+ by S&P Global Ratings, enhancing its market position and reducing borrowing costs.High BDL secures ₹1,348 cr order, Airtel rating upgradedBharat Dynamics secured a ₹1,347.71 cr order from HAL for Helina Launchers, enhancing long-term revenue. Bharti Airtel's credit rating was upgraded to 'BBB+' by S&P, potentially reducing borrowing costs in the telecom sector.High

April 2026

Defence stocks poised for growth after ₹2.38 lakh cr DAC approvalsThe Defence Acquisition Council approved ₹2.38 lakh crore for defence procurement, enhancing growth prospects for HAL, BEL, and BDL. This move supports domestic manufacturing and reduces import dependence, providing strong order visibility for these companies.High

March 2026

Bharat Dynamics expands manufacturing capacity with new facilitiesBharat Dynamics Limited is establishing two new manufacturing facilities in Telangana and Uttar Pradesh to enhance production capacity. This expansion aims to meet rising demands from the Indian armed forces and is expected to generate additional orders worth ₹15,000 cr in FY 2026-27.High Defence stocks decline as Nifty India Defence index fallsThe Nifty India Defence Index fell 1.13% to 8,309.25, with Bharat Electronics down 1.56%, HAL down 0.97%, and Bharat Dynamics down 1.75%. This decline occurred despite a bullish sector outlook from Motilal Oswal.Medium India's defence budget boosts stocks but raises valuation concernsIndia's $85 billion defence budget for FY27, a 15% increase, boosts stocks but raises valuation concerns with the sector's median P/E at 54.82x. HAL and BDL show significant market caps amid high growth expectations.High

February 2026

Bharat Dynamics shares decline after Q3 resultsBharat Dynamics shares dropped 6% on February 2, reflecting broader weakness in the defence sector. Despite an 18% increase in defence capital expenditure to ₹7.6 lakh crore, the lack of major policy reforms in the Union Budget weighed on sentiment.Medium Bharat Dynamics shares drop 6% after Q3 resultsBharat Dynamics shares declined 6% on February 2, 2023, amid broader weakness in defence stocks. The Union Budget's 18% increase in defence capital expenditure to ₹7.6 lakh crore was seen as lacking transformative measures, impacting near-term sentiment.Medium Defence stocks show mixed reactions after Q3 resultsBharat Dynamics and Zen Technologies reported mixed Q3 results, with Bharat Dynamics showing a weak quarter and Zen Technologies having mixed outcomes. This may impact trading sentiment in the defence sector.Medium Defence earnings diverge as BDL slumps and Zen Tech soarsBharat Dynamics Ltd. reported a 31.9% YoY revenue decline to ₹566.6 cr and a 50.3% drop in net profit to ₹73 cr, causing its stock to slump. Conversely, Zen Technologies Ltd. saw a surge in shares due to strong performance and a positive outlook.Medium GAIL and BDL Q3 results release with dividend focusGAIL and BDL are scheduled to release their Q3 FY26 results today, with GAIL's previous net profit at ₹2,217 cr and revenue at ₹35,031 cr. Analysts expect a 6.2% revenue growth driven by a 12% tariff hike, alongside anticipated dividend announcements.Medium GAIL and BDL Q3 results and dividend announcements todayGAIL and BDL are announcing their Q3 FY26 results today, with GAIL's previous net profit at ₹2,217 cr and revenue of ₹35,031 cr. Analysts expect a 6.2% revenue growth for Q3, driven by a 12% tariff hike in pipeline tariffs.Medium Bharat Dynamics Q3 profits halve, margins below 5%Bharat Dynamics reported a 50% drop in Q3 net profit to ₹73 cr, with revenue down 32% at ₹566.3 cr. EBITDA fell 79.7%, leading to a margin contraction to 4.5%. An interim dividend of ₹4.5 per share was approved.High

January 2026

Bharat Dynamics Q3 net profit halves to ₹73 croreBharat Dynamics reported a 50% decline in Q3 net profit to ₹73 crore, with revenue down 32% to ₹566.3 crore. The company also announced an interim dividend of ₹4.5 per share, which may influence investor sentiment in the defense sector.Medium

December 2025

Defence stock rises after ₹2,461 cr missile orderHigh

November 2025

BDL shares rise 7% on strong Q2 earnings and defence orderHigh Bharat Dynamics shares rise 6% on strong Q2 results and missile orderHigh Bharat Dynamics secures ₹2,095.70 cr contract for missilesHigh BDL Q2 profit surges 76% to ₹216 croreHigh

About Bharat Dynamics Limited

exchange masters as of 18 Sept 2026 · classification by BSE
Company
Bharat Dynamics Limited
Exchange
NSE · BSE 541143, group A
Listed on NSE
23 Mar 2018
Classification
Industrials › Capital Goods › Aerospace & Defense
Index
BSE 500
Face value
₹5 a share
ISIN
INE171Z01026
Sessions on record
272
Price source
NSE UDiFF bhavcopy · end of day · delayed
Filings
NSE and BSE public disclosures · results, shareholding and corporate actions as filed
Computed
2 Oct, 02:26 am IST
Bulletins
22 · written by the desk · not a recommendation

OI Charts is not a SEBI-registered investment adviser or research analyst. Prices, open interest, filings and the desk read are exchange data and arithmetic on it, not a basis for any investment decision.