The shares of Bharat Electronics Shares gained 3.6 percent to Rs 127.35 on Thursday session, hitting a 52-week high. The stock price is growing due to recent orders secured by the firm, and it recently received another order of Rs.5,900 Crore.
As per the exchange filing. The Company obtained orders worth Rs 5,900 crore from Bharat Dynamics Ltd for the improvement and upgradation of the Akash Weapon System (AWS). Other orders totaling Rs 1,984 crore were placed for multiple defence technologies like naval and jammer systems.
In March 2023, the Company received export orders from France, Israel, and the United States for electronic assembly components for an order worth $52 million. It is a large-cap stock with a market capitalization of Rs 90,970, At 2:15 pm, the stock quoted Rs 123.95, up 0.95 percent on NSE.
Bharat Electronics Ltd is an Indian state-owned aerospace and defence company under the Ministry of Defence, working in Electronic warfare systems, tank electronics, and simulators.
Recently, the company signed an agreement with HFCL Limited to develop and deploy innovative technologies and technological solutions in-house to meet the needs of the defence, telecom, and railway industries. In addition, to support the Atma Nirbhar Bharat initiative.
The stock has risen 64.72 percent in the last year, from Rs 75.28 to the present price, and 33.73 percent in the previous three months.
As per financials, Operating revenue increased 56 percent from Rs 4,153 crore in Q3 to Rs 6,479 crore in Q4. Similarly, net profit increased by 127 percent from Rs 603 crore to Rs 1,366 crore. Revenue grew modestly year on year, from Rs 15,368 crore in FY 21-22 to Rs 17,734 crore in FY 22-23, For the same timeframe, Net profit increased from Rs 2,354 crore to Rs 2,940 crore.
Profitability ratios have remained consistent over time. For fiscal years 22-23, the ROE was 21.53 percent and the ROCE was 26.38 percent, similarly, the net profit margin was 16.57 percent and the operating margin was 22.20 percent.
As per the shareholding pattern, promoters of the company hold a 51.14 percent stake, Foreign Institutional Investors (FIIs) have a 16.42 percent stake, and domestic institutional investors (DIIs) hold a 25.5 percent stake in the company for FY 22-23.
Written by Omkar C
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