Bharat Dynamics Limited (BDL) - Net Assets

Latest as of September 2025: Rs42.17 Billion INR ≈ $456.07 Million USD

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 Bharat Dynamics Limited strategic asset allocation index to assess the company's strategic physical and investment asset allocation.

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. For live market cap and overall valuation, see Bharat Dynamics Limited (BDL) total market value.

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. Also explore net asset momentum of Bharat Dynamics Limited to track the company's year-over-year net asset growth rate.

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	--

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
Zhejiang Sanmei Chemical Industry Co Ltd SHG:603379	$4.57 Billion
Centerra Gold Inc TO:CG	$4.57 Billion
Beijing Roborock Technology Co Ltd SHG:688169	$4.57 Billion
International Seaways Inc NYSE:INSW	$4.57 Billion
Construction Partners Inc NASDAQ:ROAD	$4.56 Billion
Navin Fluorine International Limited NSE:NAVINFLUOR	$4.56 Billion
Atlas Arteria AU:ALX	$4.56 Billion
MGM China Holdings Limited F:M04	$4.55 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: 10.53x
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 63.01x to 10.53x 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	Rs1151.90	x
2014-03-31	Rs22.19	Rs1151.90	x
2015-03-31	Rs28.74	Rs1151.90	x
2016-03-31	Rs33.20	Rs1151.90	x
2017-03-31	Rs51.73	Rs1151.90	x
2018-03-31	Rs49.36	Rs1151.90	x
2019-03-31	Rs61.89	Rs1151.90	x
2020-03-31	Rs71.12	Rs1151.90	x
2021-03-31	Rs73.24	Rs1151.90	x
2022-03-31	Rs82.67	Rs1151.90	x
2023-03-31	Rs87.61	Rs1151.90	x
2024-03-31	Rs99.21	Rs1151.90	x
2025-03-31	Rs109.37	Rs1151.90	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: $55,753,716,667
Average return on equity (ROE) among peers: 15.09%

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	$4.57 Billion
Apollo Micro Systems Limited (APOLLO)	$3.84 Billion	4.88%	0.80x	$1.52 Billion
Bharat Electronics Limited (BEL_old)	$59.05 Billion	14.35%	1.55x	$29.41 Billion
Cochin Shipyard Limited (COCHINSHIP)	$33.34 Billion	14.34%	0.57x	$3.80 Billion
Data Patterns (India) Limited (DATAPATTNS)	$11.67 Billion	10.62%	0.23x	$2.67 Billion
DCX Systems Limited (DCXINDIA)	$1.18 Billion	55.79%	7.02x	$197.94 Million
Garden Reach Shipbuilders & Engineers Limited (GRSE)	$10.40 Billion	15.72%	4.18x	$2.90 Billion
Hindustan Aeronautics Limited (HAL)	$349.85 Billion	23.91%	2.04x	$34.63 Billion
Mazagon Dock Shipbuilders Limited (MAZDOCK)	$32.14 Billion	16.57%	5.48x	$9.64 Billion
Sigma Advanced Systems Limited (MEGASOFT)	$314.91 Million	-20.40%	1.29x	$3.08 Billion

About Bharat Dynamics Limited

NSE:BDL India Aerospace & Defense

Market Cap

$4.57 Billion

Rs422.24 Billion INR

Market Cap Rank

#3786 Global

#163 in India

Share Price

Rs1151.90

Change (1 day)

+1.40%

52-Week Range

Rs1096.60 - Rs1631.60

All Time High

Rs2015.50