Bharat Dynamics Limited (BDL) - Net Assets
Based on the latest financial reports, Bharat Dynamics Limited (BDL) has net assets worth Rs42.17 Billion INR (≈ $456.07 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs130.68 Billion ≈ $1.41 Billion USD) and total liabilities (Rs88.51 Billion ≈ $957.16 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check BDL asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Rs42.17 Billion |
| % of Total Assets | 32.27% |
| Annual Growth Rate | 11.8% |
| 5-Year Change | 49.32% |
| 10-Year Change | 116.56% |
| Growth Volatility | 9.81 |
Bharat Dynamics Limited - Net Assets Trend (2013–2025)
This chart illustrates how Bharat Dynamics Limited's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of Bharat Dynamics Limited for the complete picture of this company's asset base.
Annual Net Assets for Bharat Dynamics Limited (2013–2025)
The table below shows the annual net assets of Bharat Dynamics Limited from 2013 to 2025. For live valuation and market cap data, see market cap of Bharat Dynamics Limited.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | Rs40.09 Billion ≈ $433.55 Million |
+10.23% |
| 2024-03-31 | Rs36.37 Billion ≈ $393.31 Million |
+13.24% |
| 2023-03-31 | Rs32.11 Billion ≈ $347.31 Million |
+5.97% |
| 2022-03-31 | Rs30.31 Billion ≈ $327.74 Million |
+12.88% |
| 2021-03-31 | Rs26.85 Billion ≈ $290.35 Million |
+2.99% |
| 2020-03-31 | Rs26.07 Billion ≈ $281.92 Million |
+14.91% |
| 2019-03-31 | Rs22.69 Billion ≈ $245.33 Million |
+15.96% |
| 2018-03-31 | Rs19.56 Billion ≈ $211.58 Million |
-11.57% |
| 2017-03-31 | Rs22.12 Billion ≈ $239.27 Million |
+19.51% |
| 2016-03-31 | Rs18.51 Billion ≈ $200.20 Million |
+12.01% |
| 2015-03-31 | Rs16.53 Billion ≈ $178.73 Million |
+29.52% |
| 2014-03-31 | Rs12.76 Billion ≈ $137.99 Million |
+21.38% |
| 2013-03-31 | Rs10.51 Billion ≈ $113.68 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Bharat Dynamics Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 43.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | Rs561.75 Million | 1.40% |
| Common Stock | Rs1.83 Billion | 4.57% |
| Other Comprehensive Income | Rs37.69 Billion | 94.03% |
| Total Equity | Rs40.09 Billion | 100.00% |
Bharat Dynamics Limited Competitors by Market Cap
The table below lists competitors of Bharat Dynamics Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
GREEK O.FOOTB. ADR 1/2
F:GF8A
|
$5.41 Billion |
|
3Peak Inc
SHG:688536
|
$5.41 Billion |
|
Blue Owl Technology Finance Corp.
NYSE:OTF
|
$5.41 Billion |
|
Axiata Group Bhd
KLSE:6888
|
$5.42 Billion |
|
Yang Ming Marine Transport Corp
TW:2609
|
$5.41 Billion |
|
Firefly Aerospace Inc. Common Stock
NASDAQ:FLY
|
$5.41 Billion |
|
Porsche Automobil Holding SE
F:PAHA
|
$5.41 Billion |
|
HLB Co. Ltd
KQ:028300
|
$5.41 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Bharat Dynamics Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 36,368,233,000 to 40,089,508,000, a change of 3,721,275,000 (10.2%).
- Net income of 5,496,452,000 contributed positively to equity growth.
- Dividend payments of 2,167,042,000 reduced retained earnings.
- Other comprehensive income increased equity by 4,002,651,000.
- Other factors decreased equity by 3,610,786,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Rs5.50 Billion | +13.71% |
| Dividends Paid | Rs2.17 Billion | -5.41% |
| Other Comprehensive Income | Rs4.00 Billion | +9.98% |
| Other Changes | Rs-3.61 Billion | -9.01% |
| Total Change | Rs- | 10.23% |
Book Value vs Market Value Analysis
This analysis compares Bharat Dynamics Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 12.47x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 74.62x to 12.47x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2013-03-31 | Rs18.28 | Rs1364.10 | x |
| 2014-03-31 | Rs22.19 | Rs1364.10 | x |
| 2015-03-31 | Rs28.74 | Rs1364.10 | x |
| 2016-03-31 | Rs33.20 | Rs1364.10 | x |
| 2017-03-31 | Rs51.73 | Rs1364.10 | x |
| 2018-03-31 | Rs49.36 | Rs1364.10 | x |
| 2019-03-31 | Rs61.89 | Rs1364.10 | x |
| 2020-03-31 | Rs71.12 | Rs1364.10 | x |
| 2021-03-31 | Rs73.24 | Rs1364.10 | x |
| 2022-03-31 | Rs82.67 | Rs1364.10 | x |
| 2023-03-31 | Rs87.61 | Rs1364.10 | x |
| 2024-03-31 | Rs99.21 | Rs1364.10 | x |
| 2025-03-31 | Rs109.37 | Rs1364.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Bharat Dynamics Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 13.71%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 16.43%
- • Asset Turnover: 0.28x
- • Equity Multiplier: 2.93x
- Recent ROE (13.71%) is below the historical average (20.59%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 27.44% | 26.90% | 0.15x | 6.90x | Rs1.83 Billion |
| 2014 | 27.08% | 19.48% | 0.22x | 6.46x | Rs2.18 Billion |
| 2015 | 25.33% | 15.05% | 0.33x | 5.09x | Rs2.53 Billion |
| 2016 | 30.36% | 13.78% | 0.42x | 5.21x | Rs3.77 Billion |
| 2017 | 23.69% | 11.55% | 0.53x | 3.89x | Rs3.03 Billion |
| 2018 | 27.00% | 11.54% | 0.69x | 3.37x | Rs3.33 Billion |
| 2019 | 18.63% | 13.77% | 0.56x | 2.41x | Rs1.96 Billion |
| 2020 | 20.52% | 17.23% | 0.55x | 2.18x | Rs2.74 Billion |
| 2021 | 9.60% | 13.47% | 0.32x | 2.22x | Rs-107.10 Million |
| 2022 | 16.50% | 17.74% | 0.43x | 2.17x | Rs1.97 Billion |
| 2023 | 10.97% | 14.15% | 0.29x | 2.70x | Rs310.25 Million |
| 2024 | 16.85% | 25.86% | 0.23x | 2.84x | Rs2.49 Billion |
| 2025 | 13.71% | 16.43% | 0.28x | 2.93x | Rs1.49 Billion |
Industry Comparison
This section compares Bharat Dynamics Limited's net assets metrics with peer companies in the Aerospace & Defense industry.
Industry Context
- Industry: Aerospace & Defense
- Average net assets among peers: $26,042,508,333
- Average return on equity (ROE) among peers: 15.21%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Bharat Dynamics Limited (BDL) | Rs42.17 Billion | 27.44% | 2.10x | $5.41 Billion |
| Apollo Micro Systems Limited (APOLLO) | $3.84 Billion | 4.88% | 0.80x | $1.08 Billion |
| Bharat Electronics Limited (BEL_old) | $16.53 Billion | 27.49% | 1.68x | $29.41 Billion |
| Cochin Shipyard Limited (COCHINSHIP) | $17.21 Billion | 16.96% | 1.04x | $4.93 Billion |
| Data Patterns (India) Limited (DATAPATTNS) | $13.24 Billion | 13.72% | 0.28x | $2.47 Billion |
| DCX Systems Limited (DCXINDIA) | $11.26 Billion | 6.73% | 0.64x | $242.09 Million |
| Garden Reach Shipbuilders & Engineers Limited (GRSE) | $8.67 Billion | 15.19% | 5.86x | $3.63 Billion |
| Hindustan Aeronautics Limited (HAL) | $129.41 Billion | 24.86% | 3.46x | $31.38 Billion |
| Mazagon Dock Shipbuilders Limited (MAZDOCK) | $32.14 Billion | 16.57% | 5.48x | $11.92 Billion |
| Sigma Advanced Systems Limited (MEGASOFT) | $2.07 Billion | 10.48% | 0.54x | $3.08 Billion |
About Bharat Dynamics Limited
Bharat Dynamics Limited manufactures and sells guided missiles, underwater weapons, air-borne products, and allied defense equipment in India. It offers light and heavy-weight torpedoes, unified launcher, fagot launcher adapted to Milan equipment, Konkurs launcher test equipment, Akash and Astra weapon systems, Konkurs missile test equipment, medium-range surface-to-air missile, quick reaction su… Read more