BEL delivered on its FY26 guidance precisely: revenue grew 16.2% to ₹27,480 crores, PAT rose 14.4% to ₹6,048 crores, and the order book closed at ₹73,882 crores — equivalent to 2.7 times annual revenues.

For much of the last decade, Indian retail investors have been conditioned to focus on one number above all others: returns. Mutual fund advertisements flash past performance. WhatsApp groups celebrate multibagger tips. Portfolio trackers highlight winners in green and hide the losers.