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The shares of one of the leading defence PSU firms fell by 3.6 percent to ₹1,708 per share on Tuesday’s early trade after the company reported a weak turnover of 5.6 percent decline on a year-on-year basis. 

At 12:20 p.m, Bharat Dynamics Ltd shares were trading at ₹1,716 per share, down 3.18 percent from the previous close price on the national stock exchange. The company has a market capitalization of ₹31,464 crore. 

As per the company’s exchange filing, In the fiscal year ending March 2024, Bharat Dynamics Ltd (BDL) recorded a turnover of ₹2,350 crore, reflecting a decline of 5.6 percent compared to the previous year’s ₹2,489.4 crore.

This decrease is attributed to the current geopolitical tensions in Europe and the Middle East, which have disrupted the company’s supply chain. As of April 1, 2024, BDL’s order book stands at ₹19,468 crore. 

Bharat Dynamics Limited (BDL) is a government-owned public-sector corporation in India. The company is engaged in the manufacturing of guided missiles and allied defence equipment. 

As of January 31, 2024, the company’s export order position reached approximately ₹2,580 crores. Furthermore, the company secured new orders totaling ₹1,717 crores from April 2023 to January 2024. As of the same date, the company’s total Order Book amounted to ₹20,070 crores. 

Trade receivables decreased by approximately 14%, dropping from ₹1,446 crores as of March 31, 2023, to ₹1,245 crores. Meanwhile, the company’s EBITDA witnessed a 100 basis points improvement during Q3 on a year-on-year basis and a cumulative improvement of 200 basis points up to Q3. 

The companies’ gross margin showed an enhancement from 52% to 60% during the nine-month period ending on December 31, 2023, compared to the previous year. 

The company’s financials experienced significant growth, with revenue surging by 30% from ₹462 crores in Q3 FY23 to ₹602 crores in Q3 FY24. Concurrently, net profit soared by 61% from ₹84 crores to ₹135 crores during the same period. 

Bharat Dynamics Limited shares have appreciated by 68% in the last six months and 74% in the last 12 months.

Written by Omkar Chitnis 

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