This S&P BSE 500 company which is also a category-I miniratna is currently trading at Rs. 1054.95 and rose up to 3% on Wednesday within the first half hour of markets opening after it bagged an order worth Rs. 291 crore. The stock trades 17.4% away from its 52 week high. The stock is 3.4% up from its 200 day moving average and 6.8% away from its 20 day moving average.
Bharat Dynamics Ltd (“Bharat Dynamics”) has a market cap of Rs. 19,335 crore and in a filing dated 19th September 20223, the company announced an order that was received from Indian Air Force in the form of a contract for supply of Surface to Air missiles which is worth Rs. 290.9 crore.
Earlier this year, the company received an export order worth USD 255 Million. The company has also previously supplied the1st RF seeker of Akash – NG missile to drdo which was a significant milestone achieved towards ‘atmanirbharta’ in defense.
Bharat dynamics is a 3 year multibagger, returning 230% in the last 3 year period. Meaning, if you invested Rs. 1 lakh into Bharat Dynamics around three years ago,the position would now be worth around Rs. 3.3 lakh! Bharat Dynamics Limited engages in the manufacturing and sale of guided missiles and allied equipment in India.
The company reported de-growth in its performance in FY23. In FY23, the company’s revenue de-grew 12% YoY, from Rs. 2,817 crore to Rs. 2,489 crore. Net Profits saw a decline of 30% YoY from Rs. 500 crore to Rs. 352 crore. Net margins during the period contracted 360 bps.
This trend has been followed over the years with volatile and declining earnings for the past 3 years. The President of India holds 75% of the stock while FIIs hold 3%, DIIs 14% and the rest being in public holding.
Written by Sandeep R
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