Bharat Electronics vs MAZDOCK: share price, P/E, ROE and financials compared
Bharat Electronics
Mazagoan Dock Shipbuilders
Bharat Electronics and MAZDOCK at a glance
Bharat Electronics and MAZDOCK are both listed in Capital Goods. Bharat Electronics is the larger by market cap, at ₹2.9L Cr against ₹74,222 Cr for MAZDOCK (3.9 times as large). On valuation, MAZDOCK has the lower P/E (30.3× against 45.3×) and the lower price-to-book (7.10× against 11.01×). On returns and margins, Bharat Electronics has the higher ROCE (31.9% against 28.5%), the higher ROE (26.7% against 23.2%) and the higher operating margin (28.2% against 16.2%). Over three years, MAZDOCK has faster 3-year sales growth (+19.6% against +15.5% a year) and faster 3-year profit growth (+32.2% against +26.6% a year). Bharat Electronics carries less debt for its equity, with a debt-to-equity of 0.00× against 0.08×.
Key metrics, side by side
| Metric | Bharat ElectronicsBEL | MAZDOCKMAZDOCK |
|---|---|---|
| Price (₹) | 396.00 | 1,840.00 |
| Market cap (₹ Cr) | 2,89,467 | 74,222 |
| P/E | 45.3× | 30.3× (the lower figure, shaded) |
| P/B | 11.01× | 7.10× (the lower figure, shaded) |
| Dividend yield, trailing | 0.63% | 0.93% (the higher figure, shaded) |
| ROE | 26.7% (the higher figure, shaded) | 23.2% |
| ROCE | 31.9% (the higher figure, shaded) | 28.5% |
| Operating margin (OPM) | 28.2% (the higher figure, shaded) | 16.2% |
| Net margin (NPM) | 21.2% (the higher figure, shaded) | 17.7% |
| Sales CAGR 3Y | +15.5% | +19.6% (the higher figure, shaded) |
| Profit CAGR 3Y | +26.6% | +32.2% (the higher figure, shaded) |
| Debt to equity | 0.00× (the lower figure, shaded) | 0.08× |
| Interest cover | 1239.9× (the higher figure, shaded) | 46.1× |
| Net profit TTM (₹ Cr) | 6,399 | 2,452 |
| 1Y return | −4.8% (the higher figure, shaded) | −31.5% |
| Promoter holding | 51.14% | 81.22% |
Bharat Electronics vs MAZDOCK: common questions
Which is bigger, Bharat Electronics or MAZDOCK?
By market cap, Bharat Electronics is bigger at ₹2.9L Cr, against ₹74,222 Cr for MAZDOCK (prices as of 6 Nov 2026). Net profit over the last twelve months was ₹6,399 Cr for Bharat Electronics and ₹2,452 Cr for MAZDOCK.
Which has a lower P/E ratio, Bharat Electronics or MAZDOCK?
Bharat Electronics trades at a P/E of 45.3× and MAZDOCK at 30.3×. MAZDOCK has the lower P/E. P/E is the share price divided by earnings per share; it varies a lot between industries and with growth, so it says little on its own.
Which has a higher ROE, Bharat Electronics or MAZDOCK?
Bharat Electronics reports a return on equity of 26.7% and MAZDOCK 23.2%. Bharat Electronics has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, Bharat Electronics or MAZDOCK?
Over the last three years: Sales grew +15.5% a year at Bharat Electronics and +19.6% at MAZDOCK, so MAZDOCK grew sales faster; profit grew +26.6% a year at Bharat Electronics and +32.2% at MAZDOCK, so MAZDOCK grew profit faster. Past growth doesn’t predict future growth.