Bharat Electronics Ltd Share Price – NSE  /  BSE

Aerospace & Defence, Mid Cap

Bharat Electronic has received reaffirmation in credit ratings as under:

Long term fund based limits (Rs 500 crore) and unallocated limits (Rs 300 crore) - ICRA AAA; Stable

Short term non fund based limits (Rs 4500 crore) - ICRA A1+ (reaffirmed)

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Bharat Electronics (BEL) has achieved a turnover of around Rs. 19700 crore (Provisional & Unaudited), during the Financial Year 2023-24, against the previous year's turnover of Rs. 17,333 crore registering a growth of 13.65%.

In the fiscal year 2023-24, BEL successfully secured orders worth around Rs. 35000 crore.

Among the notable defence orders obtained during the year were Electronic Fuzes, EW Systems, Communication Systems for naval warships, Fire Control Systems, Akash Prime Weapon System, Radars, Sonars, Software Defined Radios, Night Vision Devices, Tactical Communication Systems and other projects in Non-defence sector.

With this, the total order book of BEL as on 01 April 2024, stands at around Rs. 76000 crore.

BEL also achieved Export sales of around US$ 92.98 Million during FY 2023-24, as against the previous year's export turnover of US$ 48.33 Million, registering a growth of 92%. Major products exported include Transmit & Receive (TR) Modules, Compact Multi-Purpose Advanced Stabilisation System (CoMPASS), Radar & Electronic Warfare Systems, Medical Electronics, Communication equipment etc.

As on 01 April 2024 BEL's export order book stands at USD 407 million, with export orders acquired during the fiscal year amounting to USD 211 million.

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Bharat Electronics announced that the Board of Directors of the Company at its meeting held on 15 March 2024, has recommended a Second Interim dividend of Rs.0.7 per share (i.e.70%), subject to the approval of the shareholders.

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Shares of BEL rallied 3.42% to Rs 196.50 while L&T rose 1.81% to Rs 3606.35 on the BSE.

The contract incudes supply of 14 cutting-edge Communication and Electronic Warfare (EW) sensors and systems. These state-of-the-art systems, manufactured domestically by the company, will be installed on three Cadet Training Ships for the Indian Navy.

This collaboration between BEL and L&T exemplifies the strong partnership between the two companies and underscores the broader co-operation within the Indian Industry. The successful execution of this contract will involve the participation of numerous micro, small and medium enterprises (MSMEs) and represents a significant stride towards achieving the vision of Atmanirbhar Bharat.

The company said that additionally, it has secured orders valued at Rs 1,092.65 crore since the last disclosure on 13 February 2024 and these orders encompass the supply of LRUs for T-70 & T-90 tanks, communication systems for the Indian Navy, as well as other spares and services.

With these recent developments, the company has now accumulated orders totalling Rs 32,716.33 crore in the current financial year.

Navratna PSU BEL is a multi-product, multi-technology, multi-Unit conglomerate which designs, manufactures and supplies products and systems in a wide variety of fields including radars, missile systems, military communications, naval systems, electronic warfare & avionics, C4I systems, electro optics, tank electronics & gun/weapon system upgrades, and electronic fuzes in the defence segment.

Larsen & Toubro (L&T) is an Indian multinational engaged in EPC Projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide. A strong, customer focused approach and the constant quest for top class quality has enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

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