Bharat Electronics vs HAL vs Mazagon Dock: Side-by-Side Comparison of India’s Top Defence Stocks
- September 22, 2026
- Posted by: Harsh Piplani
- Category: Uncategorized
Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders compared on market cap, valuation, ROE, 52-week range and dividend yield. Data as of September 2026.
Quick Answer
Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders is a side-by-side comparison of three of India’s leading listed defence PSUs. Bharat Electronics carries the largest market cap of the three, narrowly ahead of Hindustan Aeronautics, while Mazagon Dock Shipbuilders is considerably smaller but trades at a mid-range PE among the trio. Each company’s numbers are presented here without a declared “better” pick, since the right stock depends on an investor’s own criteria.
Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders starts with the core numbers most investors compare across leading listed defence PSUs: market capitalisation, valuation, profitability, and the 52-week trading range. Figures below are as of September 2026 and will shift with daily price moves.
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Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders: Key Metrics at a Glance
| Metric | Bharat Electronics | Hindustan Aeronautics | Mazagon Dock Shipbuilders |
|---|---|---|---|
| Market Cap (approx.) | Rs 3,03,502 crore | Rs 2,96,515 crore | Rs 1,03,029 crore |
| PE Ratio (TTM) | 50.21 | 32.67 | 42.30 |
| PB Ratio | Not disclosed | Not disclosed | Not disclosed |
| ROE (%) | Not disclosed | Not disclosed | Not disclosed |
| 52-Week High | Not disclosed | Not disclosed | Not disclosed |
| 52-Week Low | Not disclosed | Not disclosed | Not disclosed |
| Dividend Yield | 0.61% | 0.79% | 0.71% |
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Valuation Comparison: PE and PB Ratios
On valuation, Hindustan Aeronautics trades at the lowest PE ratio of the three at 32.67, Mazagon Dock Shipbuilders follows at 42.30, while Bharat Electronics commands the highest PE at 50.21, reflecting the premium the market has assigned to its diversified electronics and defence systems order book.
Profitability Comparison: Return on Equity
Return on equity figures for this trio were not available in the same data snapshot used for valuation and market cap here; investors should check current ROE for each company directly on the Univest Screener before drawing conclusions on capital efficiency.
52-Week Trading Range Comparison
52-week high and low figures for this trio were not available in the same data snapshot used for market cap and PE here; investors should check current 52-week ranges for each stock directly on the Univest Screener or NSE.
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Dividend Yield Comparison
Hindustan Aeronautics offers the highest dividend yield among the three at 0.79%, followed by Mazagon Dock Shipbuilders at 0.71% and Bharat Electronics at 0.61%, though dividend yields across this trio remain modest given their growth-stage capex and order-execution focus.
What Should Investors Look at Beyond These Numbers?
Beyond the metrics above, investors comparing these three defence PSUs should track each company’s order book size and execution timelines, indigenisation targets under India’s defence procurement policy, and export order wins, since defence stocks have historically re-rated sharply on order-flow newsflow rather than trailing valuation ratios alone.
Also read – TCS vs Infosys vs Wipro: Side-by-Side Comparison of India’s Top IT Services Stocks
Snapshot: Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders is a widely searched comparison among investors tracking this sector. Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders highlights differences in valuation. Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders highlights differences in profitability. Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders highlights differences in dividend yield. Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders is best read as a factual snapshot rather than a recommendation.
In short: Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders remains one of the most-searched sector comparisons on Dalal Street. Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders draws attention every earnings season. Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders is tracked closely by retail and institutional investors alike. Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders numbers should always be checked live before acting.
Quick recap: Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders. Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders. Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders data as of September 2026.
Conclusion
Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders highlights how differently three leading names in the same sector can score across valuation, profitability and dividend metrics, even when operating in the same space. This comparison does not declare a winner; investors should weigh these figures against their own research and risk appetite. Please read the disclaimer below before making any investment decision.
Disclaimer: Data and figures in this article are sourced from publicly available information as of September 2026 and may not reflect real-time prices. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. This comparison does not recommend or endorse any single stock over another; 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).
FAQs on Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders
What is the market cap difference between Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders?
Ans. As of September 2026, Bharat Electronics has a market cap of approximately Rs 3,03,502 crore, Hindustan Aeronautics is at approximately Rs 2,96,515 crore, and Mazagon Dock Shipbuilders is at approximately Rs 1,03,029 crore.
Which of the three has the highest PE ratio?
Ans. Among Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders, the PE ratios stand at 50.21, 32.67 and 42.30 respectively as of September 2026.
Which of the three has the highest ROE?
Ans. Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders post ROE of Not disclosed, Not disclosed and Not disclosed respectively as of September 2026.
What is the 52-week range for Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders?
Ans. Bharat Electronics has traded between Not disclosed and Not disclosed, Hindustan Aeronautics between Not disclosed and Not disclosed, and Mazagon Dock Shipbuilders between Not disclosed and Not disclosed over the past 52 weeks.
Which of these three stocks pays the highest dividend yield?
Ans. Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders carry dividend yields of 0.61%, 0.79% and 0.71% respectively as of September 2026.
Which defence stock has the highest market cap?
Ans. Bharat Electronics has the largest market cap among the three at approximately Rs 3,03,502 crore, narrowly ahead of Hindustan Aeronautics at around Rs 2,96,515 crore, with Mazagon Dock Shipbuilders considerably smaller at around Rs 1,03,029 crore.
Why do defence stocks often move on order-flow news rather than valuation ratios?
Ans. Defence stocks often move on order-flow news because large, lumpy government contract wins can materially change a company’s revenue visibility for years, which tends to matter more to investors than trailing valuation multiples.
Is one of Bharat Electronics, Hindustan Aeronautics or Mazagon Dock Shipbuilders better than the others?
Ans. This comparison does not declare one stock better than another; each company scores differently across valuation, profitability and dividend metrics, and the right fit depends on an individual investor’s own criteria and research.
