Rs 60,690 crore order book: This multibagger aerospace & defence company bags new orders worth Rs 3,000 crore!
Shares of the company gained more than 40 per cent in the last six months.
On September 15, 2023, Bharat Electronics Limited informed in the exchange filing that the company had bagged an order from Cochin Shipyard Limited for the supply of various equipment consisting of Sensors, Weapon equipment, Fire Control systems and Communication equipment for six numbers of Next Generation Missile Vessels (NGMV), class of anti-surface warfare corvettes for Indian Navy. The order is worth Rs 2,118.57 crores.
The company has also received additional orders worth Rs 886 crores to Upgrade AFNET SATCOM N/W, Upgrade Akash Missiles with RF Seeker, Inertial Navigation System and other equipment with accessories and spares etc.
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Bharat Electronics Limited has reported strong quarterly results for the first quarter ended June 30, 2023 (Q1FY24). The revenue of the company for Q1FY24 stood at Rs 3465.38 crore which grew by 12.25 per cent YoY. The operating profit of the company stood at Rs 812.74 crore, growing 34.43 per cent YoY while the PAT of the company grew by 48.43 per cent YoY staying at Rs 528.60 crore.
Bharat Electronics Limited (BEL), a navratna defence public sector undertaking (DPSU), was established in 1954 under the Ministry of Defence, the Government of India, to cater to the electronic equipment requirements of the defence sector. BEL is the dominant supplier of radar, communication, and electronic warfare equipment to the Indian armed forces.
Shares of the company have delivered multibagger returns of about 300 per cent in the last three years.
The company has an order book of more than Rs 60,690 crore and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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