Bharat Dynamics Share Price: 28.2% CAGR in 3 Years Next to HAL, MTAR and Data Patterns
- November 10, 2026
- Posted by: Chaitanya Auti
- Category: Best Stocks
Bharat Dynamics Share Price: 28.2% CAGR in 3 Years Next to HAL, MTAR and Data Patterns
Bharat Dynamics previous close Rs 1,109.65. 3-year CAGR 28.2%. Up 2.1x since 9 Nov 2023. ROE 9.91%. Market cap Rs 40,670 crore.
Quick Answer
The Bharat Dynamics share price closed at Rs 1,109.65 on 9 November 2026, a compounded annual return of 28.2% over three years. That compares with Hindustan Aeronautics at 35.0%, MTAR Technologies at 34.6% and Data Patterns India at 28.8%. The company has a market cap of Rs 40,670 crore and a P/E of 78.08 against an industry P/E of 51.77.
The Bharat Dynamics share price has more than doubled over three years, which makes it a steady performer in the Indian defence space. Bharat Dynamics, the Hyderabad-based Ministry of Defence company that listed in 2018, builds guided missiles and underwater weapons for the armed forces.
We compare its record with Hindustan Aeronautics, MTAR Technologies and Data Patterns India. The article calculates three-year CAGR for all four and sets the results beside market cap, valuation, return on equity and debt, using prices adjusted for corporate actions.
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How Much Has the Bharat Dynamics Share Price Returned in 3 Years?
The Bharat Dynamics stock closed at Rs 526.05 on 9 November 2023 and at Rs 1,109.65 on 9 November 2026. Rs 1 lakh invested three years ago would have grown to about Rs 2.11 lakh, which is a CAGR of 28.2%. This is a price return and leaves out dividends.
CAGR condenses a bumpy three-year ride into one yearly number, which is why it is the fairest way to compare companies of different sizes. A stock such as Bharat Dynamics can look spectacular on a chart and still have earned a modest yearly return, so the compounded figure keeps the comparison honest.
The Bharat Dynamics share price has also followed the theme of indigenous defence manufacturing, where government orders for missiles and weapon systems have supported the order books of public sector companies.
Bharat Dynamics vs Hindustan Aeronautics, MTAR Technologies and Data Patterns India: 3-Year CAGR Compared
The table ranks the companies by three-year CAGR. Prices on 9 November 2023 are adjusted for splits and bonuses, and the latest figures are the previous close on 9 November 2026.
| Company | Close on 9 Nov 2023 | Previous close (9 Nov 2026) | Price multiple | 3-year CAGR |
|---|---|---|---|---|
| Hindustan Aeronautics | Rs 2,030.80 | Rs 4,999.00 | 2.5x | 35.0% |
| MTAR Technologies | Rs 2,261.70 | Rs 5,516.50 | 2.4x | 34.6% |
| Data Patterns India | Rs 1,883.55 | Rs 4,025.00 | 2.1x | 28.8% |
| Bharat Dynamics | Rs 526.05 | Rs 1,109.65 | 2.1x | 28.2% |
The Bharat Dynamics stock ranks fourth of the four at 28.2%. The companies ahead are Hindustan Aeronautics (35.0%), MTAR Technologies (34.6%) and Data Patterns India (28.8%). HAL and MTAR lead the group, with Data Patterns and Bharat Dynamics close behind. All four compounded at a healthy yearly rate, and the gap between the last two is small.
Look at the Bharat Dynamics share price alongside the peers as a snapshot of the last three years. It describes what happened, and valuation and earnings will decide what happens next.
Valuation and Quality Compared
| Company | Market cap | P/E | Industry P/E | ROE | Debt to equity |
|---|---|---|---|---|---|
| Hindustan Aeronautics | Rs 3,32,983 crore | 35.72 | 47.55 | 22.21% | 0.00 |
| Bharat Dynamics | Rs 40,670 crore | 78.08 | 51.77 | 9.91% | 0.00 |
| Data Patterns India | Rs 22,506 crore | 93.49 | 51.77 | 13.97% | 0.00 |
| MTAR Technologies | Rs 16,987 crore | 127.30 | 47.55 | 11.43% | 0.46 |
By market cap, Hindustan Aeronautics is the largest of the group at Rs 3,32,983 crore, while the Bharat Dynamics stock stands at Rs 40,670 crore, about 12% of that size. On earnings, Bharat Dynamics shares trade at a P/E of 78.08 against an industry P/E of 51.77, a premium of about 51%, which signals that the market expects faster earnings growth. Peer multiples are Hindustan Aeronautics at 35.72, MTAR Technologies at 127.30 and Data Patterns India at 93.49.
Return on equity is 9.91% for the Bharat Dynamics stock, which ranks fourth among the four, and debt to equity stands at 0.00. Trailing EPS is Rs 14.21. Defence companies are valued on their order books, so the P/E should be read together with return on equity and the visibility of future orders.
What Is Driving the Bharat Dynamics Stock?
Bharat Dynamics makes surface to air and anti-tank guided missiles, torpedoes and countermeasure systems. It works as a manufacturing partner for programmes developed by Indian defence research agencies and also supplies export orders.
Missile programmes run over several years, which gives the company visibility on revenue. Quarterly numbers can still move with the timing of deliveries and milestones.
Followers of the Bharat Dynamics share price usually track new order wins, the pace of deliveries, export opportunities and margins on mature programmes.
How the Established Players Stack Up
Hindustan Aeronautics is the Bengaluru-based maker of fighter aircraft, helicopters and engines, and it is among the largest defence companies in India. It compounded at 35.0% a year, on a market cap of Rs 3,32,983 crore and an ROE of 22.21%.
MTAR Technologies makes precision engineered components for clean energy, space, nuclear and defence customers. It compounded at 34.6% a year, on a market cap of Rs 16,987 crore and an ROE of 11.43%.
Data Patterns India is a Chennai-based maker of defence and aerospace electronics such as radars and electronic warfare systems. It compounded at 28.8% a year, on a market cap of Rs 22,506 crore and an ROE of 13.97%.
What Should Investors Track Next?
Three things are worth watching on the Bharat Dynamics share price. First, fresh orders and the size of the order book. Second, the pace of deliveries on current programmes. Third, any progress on export orders.
At a P/E of 78, expectations are high, and the ROE of 9.91% is the lowest in this group. Order timing can shift from quarter to quarter, so size any position with that in mind.
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How to Compare Defence Stocks Yourself
You can repeat this exercise for any pair of stocks, including the Bharat Dynamics stock against its peers. Note the adjusted closing price on the base date, take the latest close, divide one by the other, raise the result to the power of one third and subtract one. Then place the CAGR next to market cap, P/E against the industry P/E, ROE and debt to equity. Benchmark the result against the Nifty 50 as well, so you know whether the stock beat the broader market.
A stock that scores well on growth but weakly on quality, or the reverse, deserves closer study before it enters a portfolio. When tracking the Bharat Dynamics share price, the same four checks give a more complete picture than price alone.
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A Steady Defence Compounder With Visible Orders
The Bharat Dynamics share price compounded at 28.2% a year over three years, against HAL at 35.0%, MTAR at 34.6% and Data Patterns at 28.8%. It is debt free, with a debt to equity of 0.00.
HAL brings scale and a higher ROE, MTAR and Data Patterns bring specialised niches, and Bharat Dynamics brings a pure missile focus. The choice depends on which part of the defence value chain you want to follow.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What is the Bharat Dynamics share price today?
Ans. Bharat Dynamics closed at Rs 1,109.65 on 9 November 2026, according to NSE data. It has a market cap of Rs 40,670 crore and a P/E of 78.08. Check live quotes before acting, as prices change every trading day.
What is the 3-year CAGR of the Bharat Dynamics stock?
Ans. Bharat Dynamics delivered a price CAGR of 28.2% over three years, moving from Rs 526.05 on 9 November 2023 to Rs 1,109.65 on 9 November 2026. The figure excludes dividends and uses adjusted closing prices.
Is Bharat Dynamics better than HAL?
Ans. The HAL stock delivered a higher three-year CAGR at 35.0% than Bharat Dynamics at 28.2%. HAL is far larger by market cap at Rs 3,32,983 crore and has the higher ROE at 22.21% against 9.91%. Bharat Dynamics trades at a P/E of 78.08 against 35.72 for HAL, so the better choice depends on your view of each business.
What does Bharat Dynamics do?
Ans. Bharat Dynamics is a Hyderabad-based Ministry of Defence public sector company that makes guided missiles, torpedoes and underwater weapon systems for the Indian armed forces.
Is the Bharat Dynamics stock debt free?
Ans. The debt to equity ratio of the Bharat Dynamics stock is 0.00 and its return on equity is 9.91%. Always check the latest balance sheet for current figures, as debt levels change with expansion plans.
Is Bharat Dynamics expensive compared with the industry?
Ans. Bharat Dynamics trades at a P/E of 78.08 against an industry P/E of 51.77. A higher multiple reflects expectations of faster growth, which the company must deliver through earnings.
Which defence stock gave the highest return in 3 years?
Ans. Among the companies compared here, Hindustan Aeronautics delivered the highest three-year CAGR at 35.0%, followed by MTAR Technologies at 34.6%. Past returns do not guarantee future performance.
How do I calculate CAGR for a stock?
Ans. Divide the latest price by the starting price, raise the result to the power of one divided by the number of years, and subtract one. Multiply by 100 for a percentage. Use split and bonus adjusted prices for accurate results.