Defence sector companies are set to report a mixed performance for Q4FY26, as indicated by Nuvama Institutional Equities. Bharat Electronics Limited (BEL) is expected to achieve a revenue growth of 3.6% year-on-year, bolstered by a strong order backlog of ₹74,000 crore, ensuring solid medium-term visibility with margins projected at 28%. However, the overall momentum in order inflows is anticipated to slow due to a shift towards repeat contracts. Solar Industries India is forecasted to see a 28% YoY revenue increase, although its defence topline may fall short of guidance due to execution delays. Data Patterns is expected to report moderate growth of 6.6% YoY supported by new orders, while Hindustan Aeronautics Limited (HAL) is likely to experience a 4.4% decline in execution, raising concerns about its delivery schedules. Notably, defence stocks have shown resilience, with MTAR Technologies leading the pack with 224% returns over the past year, despite challenges such as geopolitical tensions and supply chain issues.