HAL vs Bharat Electronics: share price, P/E, ROE and financials compared
Hindustan Aeronautics
Bharat Electronics
HAL and Bharat Electronics at a glance
HAL and Bharat Electronics are both listed in Capital Goods. HAL is the larger by market cap, at ₹3.3L Cr against ₹2.9L Cr for Bharat Electronics. On valuation, HAL has the lower P/E (35.7× against 45.3×) and the lower price-to-book (8.12× against 11.01×). On returns and margins, Bharat Electronics has the higher ROCE (31.9% against 13.8%), the higher ROE (26.7% against 24.0%) and the higher operating margin (28.2% against 25.3%). Over three years, Bharat Electronics has faster 3-year sales growth (+15.5% against +6.4% a year) and faster 3-year profit growth (+26.6% against +16.1% a year). Neither carries much debt for its equity: debt-to-equity is 0.00× for HAL and 0.00× for Bharat Electronics.
Key metrics, side by side
| Metric | HALHAL | Bharat ElectronicsBEL |
|---|---|---|
| Price (₹) | 4,980.00 | 396.00 |
| Market cap (₹ Cr) | 3,33,050 | 2,89,467 |
| P/E | 35.7× (the lower figure, shaded) | 45.3× |
| P/B | 8.12× (the lower figure, shaded) | 11.01× |
| Dividend yield, trailing | 0.90% (the higher figure, shaded) | 0.63% |
| ROE | 24.0% | 26.7% (the higher figure, shaded) |
| ROCE | 13.8% | 31.9% (the higher figure, shaded) |
| Operating margin (OPM) | 25.3% | 28.2% (the higher figure, shaded) |
| Net margin (NPM) | 27.6% (the higher figure, shaded) | 21.2% |
| Sales CAGR 3Y | +6.4% | +15.5% (the higher figure, shaded) |
| Profit CAGR 3Y | +16.1% | +26.6% (the higher figure, shaded) |
| Debt to equity | 0.00× | 0.00× |
| Interest cover | 2099.8× (the higher figure, shaded) | 1239.9× |
| Net profit TTM (₹ Cr) | 9,322 | 6,399 |
| 1Y return | +7.6% (the higher figure, shaded) | −4.8% |
| Promoter holding | 71.64% | – |
HAL vs Bharat Electronics: common questions
Which is bigger, HAL or Bharat Electronics?
By market cap, HAL is bigger at ₹3.3L Cr, against ₹2.9L Cr for Bharat Electronics (prices as of 6 Nov 2026). Net profit over the last twelve months was ₹9,322 Cr for HAL and ₹6,399 Cr for Bharat Electronics.
Which has a lower P/E ratio, HAL or Bharat Electronics?
HAL trades at a P/E of 35.7× and Bharat Electronics at 45.3×. HAL 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, HAL or Bharat Electronics?
HAL reports a return on equity of 24.0% and Bharat Electronics 26.7%. Bharat Electronics has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, HAL or Bharat Electronics?
Over the last three years: Sales grew +6.4% a year at HAL and +15.5% at Bharat Electronics, so Bharat Electronics grew sales faster; profit grew +16.1% a year at HAL and +26.6% at Bharat Electronics, so Bharat Electronics grew profit faster. Past growth doesn’t predict future growth.