If You Had Invested ₹10,000 in Bharat Electronics Ltd (BEL) 5 Years Ago, Here’s How Much You Would Have Today

Sujeet Kushwaha

Bharat Electronics Limited (BEL), a leading Navratna defense public sector undertaking, has been a prominent player in the Indian defense electronics industry for several decades.

The company’s strong financial performance and consistent growth have made it an attractive investment option for investors seeking long-term returns.

In this article, we will explore the potential returns an investor would have earned if they had invested ₹10,000 in BEL’s five years ago, in June 2019.

Share Price Performance

To understand the potential returns, let’s first analyze BEL’s share price movement over the past five years. According to the information provided:

  • On June 7, 2019, BEL’s share price was ₹36.10.
  • As of June 3, 2024, BEL’s share price stood at ₹315.90.

Based on these figures, an investment of ₹10,000 made on June 7, 2019, would have purchased approximately 277 shares of BEL (₹10,000 ÷ ₹36.10 = 277 shares, rounded down).

Five years later, on June 3, 2024, these 277 shares would be worth ₹87,503 (277 shares × ₹315.90). This represents a remarkable growth of over 775% in the investment value.

Dividends and Bonus Shares

In addition to the capital appreciation, Bharat Electronic has consistently paid dividends to its shareholders, further enhancing the overall returns. Let’s take a look at the dividend payouts over the past five years:

  • FY 2019-20: Dividend of ₹2.80 per share
  • FY 2020-21: Dividend of ₹4.00 per share
  • FY 2021-22: Dividend of ₹4.50 per share
  • FY 2022-23: Dividend of ₹1.80 per share
  • FY 2023-24: Dividend of ₹2.20 per share (assumed based on the previous year’s data)

Considering the initial investment of 277 shares, the total dividend income over the five-year period would be approximately ₹4,223 (277 shares × (₹2.80 + ₹4.00 + ₹4.50 + ₹1.80 + ₹2.20)).

Moreover, BEL also issued bonus shares in a 3:1 ratio during the FY 2022-23, further increasing the number of shares held by investors.

Total Returns

By combining the capital appreciation and dividend income, an investor who invested ₹10,000 in BEL five years ago would have generated substantial returns. The breakdown of the total returns is as follows:

  • Initial Investment: ₹10,000
  • Value of 277 shares as of June 3, 2024: ₹87,503
  • Dividend Income: ₹4,223
  • Total Returns: ₹91,726

This translates into a staggering overall return of approximately 817% over the five-year period, which is truly remarkable.

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Related: If You Had Invested ₹10,000 in IRFC Share 1 Year Ago, Here’s How Much You Would Have Today

Financial Performance and Growth Drivers

BEL’s impressive financial performance and growth have been the driving forces behind its strong share price appreciation and substantial returns for investors. Let’s take a closer look at some key financial metrics:

Revenue Growth:

    • BEL’s revenue from operations has shown consistent growth over the past five years, increasing from ₹12,928 crore in FY 2019-20 to ₹20,136 crore in FY 2023-24 (based on the provided data).
    • The company’s revenue from operations per share has also increased from ₹53.03 in FY 2019-20 to ₹27.59 in FY 2023-24.


      • BEL’s net profit margin has remained strong, ranging from 13.88% in FY 2019-20 to 19.93% in FY 2023-24.
      • The company’s return on networth (RoNW) has been impressive, hovering around 18-25% over the past five years, indicating efficient utilization of shareholder funds.

      Robust Order Book:

        • BEL has consistently maintained a healthy order book, with a significant portion coming from the defense sector.
        • As of March 31, 2024, the company’s outstanding order book stood at ₹58,500 crore, providing strong revenue visibility for the future.

        Diversification and Growth Initiatives:

          • BEL has been actively diversifying its product portfolio and expanding into non-defense areas, such as homeland security, smart cities, and civilian projects.
          • The company has also been focusing on exports, with a dedicated strategy to tap into global markets.

          Government Support:

            • As a leading defense electronics company, BEL enjoys strong support from the Indian government, which has been promoting self-reliance in defense manufacturing through initiatives like ‘Make in India.’
            • The government’s increased focus on modernizing the armed forces and enhancing defense capabilities has benefited BEL significantly.

            Risks and Considerations

            While BEL has delivered impressive returns over the past five years, it is important to note that past performance does not guarantee future results. Investors should consider the following risks and factors:

            • Dependence on government contracts and defense spending
            • Geopolitical tensions and fluctuations in defense budgets
            • Competition from domestic and international players
            • Changes in government policies and regulations
            • Technological advancements and the need for continuous innovation


            The analysis of BEL’s financial performance and share price movement clearly demonstrates the potential for substantial returns for long-term investors.

            An investment of ₹10,000 in BEL five years ago would have grown to a remarkable ₹91,726, representing an overall return of approximately 817%.

            BEL’s strong financial metrics, robust order book, diversification efforts, and government support have been the key drivers behind its success.

            However, investors should also consider the associated risks and make informed decisions based on their investment objectives and risk appetite.

            It is important to note that past performance is not a guarantee of future results, and investors should always conduct thorough research and seek professional advice before making investment decisions.

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            Leveraging his government experience, Sujeet brings valuable insight on the stock market to ModernAgeBank.com readers. His passion for analysis drives coverage of equities and the latest financial news. When he's not busy dissecting stocks, Sujeet enjoys learning about new businesses and industries.
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