Order inflow delays
Large orders like QRSAM and MRSAM may slip beyond FY26, impacting order book growth and revenue visibility.
BEL / Q3-FY25 / risks
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Bharat Electronics · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Employee cost increase from pay revision
Eighth pay commission due from January 2027 could increase employee costs, though management expects minimal impact on cost-to-turnover ratio.
Competition in anti-drone systems
Emerging competition from startups and MSMEs in smaller anti-drone systems could erode market share.
Provision for liquidated damages
A provision of ~₹600 crore was made for liquidated damages due to supply delays, indicating execution risks.