180,946% Gains, 3 Bonus, 1:10 Split, 51 Dividends: BUY Zero-Debt Defence PSU Stock For 15-30% Potential Gains

Bharat Electronics (BEL), the top-tier Defence PSU stock, is at the path to end 2025 on a strong bullish note. BEL has outperformed both Sensex and Nifty while still trading at a favorable price compared to its peers like Hindustan Aeronautics (HAL), BEML, Bharat Dynamics, and more. But did you know BEL is a long-term money maker for investors who have held the defence giant since late 1990s?

BEL's all-time gains are mind-boggling by over 180,000%, while it holds a healthy record of rewarding bonuses and dividends to investors. BEL has split only once in its history. If that isn't enough, BEL is also among the top large caps with a zero-debt ratio.

Trading below Rs 400 levels, there is more potential for gains in BEL stock. The new target prices suggest BEL could rise for another 15% to 30% by next year. In 2025, BEL's gains are more than 35%.

Bharat Electronics Ltd Share Price:

Last week, on December 26, BEL stock closed at Rs 398.30 apiece, down by 1.70% on NSE, with market cap above Rs 2.91 lakh crore. BEL is closer to its 52-week high of Rs 436 level. Despite the last-session bearish pressure, BEL stock ended the trading week from December 22 to December 26 with gains of over 2.2%.

In 2025 so far, BEL stock has jumped by a whopping 35.5%. But BEL's all-time gains is a mind-boggling 180,945.45%. This is because once upon a time BEL was merely at Rs 0.22 on January 1, 1999. Over the decades, BEL stock has been adjusted to stock split, bonus and dividends ratio.

Bharat Electronics Corporate Actions:

BEL Bonus Shares:

The defence giant has delivered at least 3 bonuses. The first time BEL distributed bonus reward was in September 2015, in the ratio of 2:1. This followed second bonus issue of 1:10 ratio in September 2017. The last bonus issue was of 2:1 in September 2022. The decision of rewarding investors with bonus shares depends upon listed companies and BEL could in future decide whether it wants to pay more bonuses depending upon their reserves and financial growth.

BEL Stock Split:

BEL shares have split only once in its history and that was in March 2017. BEL stock split in the ratio of 1:10, where its face value of Rs 10 each was sub-divided to Re 1 each. Now, BEL's face value is Re 1.

BEL Dividends:

Since August 2003, BEL has delivered up to 51 dividends, as per Trendlyne data. In the last 12 months, the company paid up to Rs 2.40 dividend per share. Currently, it has a dividend yield of 0.60%.

BUY BEL Stock?

The consensus recommendation from 27 analysts for Bharat Electronics is BUY, as per Trendlyne. Of the total, 15 analysts have recommended STRONG BUY and 6 analysts have suggested BUY. EPS is expected to grow by 14.4% in FY26. The average target price is set at Rs 463.81, which suggests BEL has a potential of over 16.4% upside ahead.

But this is not the highest target on BEL. The highest level expected in BEL in the next 1-year is above Rs 500.

Analysts at Geojit said, "BEL continues to deliver above expectations on revenue, margins, and execution front, reinforcing our positive view. A robust order backlog, strong inflow momentum (Rs.12,539cr till Oct), and visibility on large programs (QRSAM, NGC, LCA avionics, GBMES) underpin multi-year growth. Upcoming opportunities in AMCA and UAV platforms, along with export expansion (target 10% of turnover in 3 years), strengthen long-term prospects. We value BEL at 48x FY27E EPS and maintain a BUY rating with a target price of Rs.504."

About Bharat Electronics Ltd:

Bharat Electronics Ltd. (BEL) is a Navaratna enterprise with a 37% market share in Indian defence electronics. BEL's core capabilities are in radar & weapons systems, defence communication & electronic warfare.

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