The shares of India’s leading player in the defence electronics manufacturer gained 0.5 percent to an intraday of high ₹196.95 per share on Friday after it received ₹1,940 crore order.
At 12:05 p.m., On Friday, Bharat Electronics Ltd shares were trading at ₹180.40 , down 7.87 percent from the previous close on the National Stock Exchange. The company has a market capitalization of ₹ 1,33,879 crores.
On March 14th, Bharat Electronics Limited (BEL) and Larsen & Toubro Limited (L&T) signed a contract worth ₹847.70 crore for the supply of 14 advanced communication and Electronic Warfare (EW) sensors and systems. These cutting-edge systems, manufactured domestically by BEL, will be installed on three Cadet Training Ships for the Indian Navy.
Additionally, BEL has secured additional orders valued at ₹1,092.65 crores since the last disclosure on February 13, 2024. These orders include LRUs for T-70 & T-90 tanks, communication systems for the Indian Navy, and various other spares and services.
With these recent developments, BEL’s total orders for the current financial year now stand at ₹32,716.33 crore. The company mentioned this in its exchange filing.
Bharat Electronics Ltd. manufactures and supplies electronic equipment and systems to the defense sector. The company has expertise in designing, developing, manufacturing, and supplying a wide range of strategic electronic products/systems.
The company’s shares have delivered a return of around 35 percent in six months and 98 percent in a year.
The company’s revenue has gained by 0.2 percent year on year, rising from ₹4,153 crore in Q2FY23 to ₹4,162 crore in Q2FY24. During the same period, net profit has increased by 40 percent, from ₹ 614 crore to ₹860 crore.
The company management expects ₹ 50,000 crores worth of orders in the next 2 years. as well as planned a Capex outlay of ₹700 crores to ₹800 crores capital expenditure plan for the next 2 years.
Written by Omkar Chitnis
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