Bharat Electronics Limited (NSE:BEL)

Bharat Electronics Cash Flow Statement

Financials in millions INR. Fiscal year is April - March.

Operating Activities

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Net Income	63,989	60,620	53,214	39,845	29,844	23,989
Depreciation & Amortization	5,933	5,087	4,469	4,190	4,095	3,865
Other Amortization	469.7	469.7	205	242.5	193.5	146.8
Loss (Gain) From Sale of Assets	-41.3	-33	-25.5	-70.2	-15.2	-4.5
Asset Writedown & Restructuring Costs	497.4	482.6	12.9	966.6	249.4	-
Provision & Write-off of Bad Debts	-	-	-	-	3,754	-
Other Operating Activities	-6,475	-5,623	-5,130	-6,759	-785.3	-1,262
Change in Accounts Receivable	-14,457	-37,594	-17,240	-3,589	-13,008	4,539
Change in Inventory	-3,812	-10,566	-16,721	-9,930	-10,119	-6,119
Change in Accounts Payable	3,286	2,446	-3,675	3,756	-388.9	704.5
Change in Income Taxes	-	-	-	-	-	-1,242
Change in Other Net Operating Assets	-10,097	123.8	-9,466	17,944	-1,827	17,456
Operating Cash Flow	39,293	15,414	5,643	46,595	11,993	42,072
Operating Cash Flow Growth	97.77%	173.16%	-87.89%	288.53%	-71.50%	-17.40%

Investing Activities

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Capital Expenditures	-10,665	-9,854	-10,113	-6,525	-5,905	-5,546
Sale of Property, Plant & Equipment	47.6	39.3	30.5	85.3	17	74
Investment in Securities	-10,567	21,092	9,722	-57,226	30,164	-45,010
Other Investing Activities	5,783	6,023	6,753	4,427	2,800	1,765
Investing Cash Flow	-15,402	17,300	6,393	-59,239	27,077	-48,717

Financing Activities

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Long-Term Debt Repaid	-	-72.4	-59.7	-57.8	-43.3	-16.7
Lease Payments	-72.4	-72.4	-59.7	-57.8	-43.3	-16.7
Net Debt Issued (Repaid)	-47.7	-72.4	-59.7	-57.8	-43.3	-16.7
Common Dividends Paid	-21,902	-20,829	-16,808	-14,621	-12,428	-10,233
Other Financing Activities	-73.9	-67.3	-96.8	-71.4	-149.5	-526.2
Financing Cash Flow	-22,024	-20,969	-16,964	-14,750	-12,621	-10,776

Net Cash Flow

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Net Cash Flow	1,868	11,745	-4,929	-27,394	26,448	-17,420

Free Cash Flow

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Free Cash Flow	28,628	5,560	-4,470	40,070	6,088	36,527
Free Cash Flow Growth	200.66%	-	-	558.16%	-83.33%	-21.01%
Free Cash Flow Margin	9.46%	2.01%	-1.88%	19.77%	3.43%	23.77%
Free Cash Flow Per Share	3.92	0.76	-0.61	5.48	0.83	5.00
Levered Free Cash Flow	14,255	-4,071	-11,677	31,067	9,094	33,433
Unlevered Free Cash Flow	14,300	-4,030	-11,618	31,110	9,185	33,462
Free Cash Flow After Leases	28,556	5,488	-4,530	40,012	6,045	36,510

Additional Metrics

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Cash Interest Paid	73.9	67.3	96.8	71.4	149.5	50.5
Cash Income Tax Paid	22,238	20,206	16,746	14,184	10,673	8,043
Change in Working Capital	-25,079	-45,589	-47,103	8,181	-25,342	15,339

Data Source: S&P Global Market Intelligence Last updated: Oct 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 2, 2026

Data Sources Report a data error