70 per cent dividend declared & Rs 93,000 crore order book: This multibagger aerospace & defence company bags new orders worth Rs 1,940.35 crore!

The stock gave multibagger returns of over 100 per cent in just 1 year, 340 per cent in 3 years and a whopping 1,700 per cent in a decade.

Navaratna DPSU Bharat Electronics Limited (BEL) has entered into a contract valued at Rs 847.70 crore plus taxes with Larsen & Toubro Limited (L&T) for the supply of 14 cutting-edge Communication and Electronic Warfare (EW) sensors and systems. These state-of-the-art systems, manufactured domestically by BEL, will be installed on three cadet training ships for the Indian Navy. This collaboration between BEL and L&T exemplifies the strong partnership between the two companies and underscores the broader cooperation within the Indian Industry. The successful execution of this contract will involve the participation of numerous Micro, Small and Medium Enterprises (MSMEs) and represents a significant stride towards achieving the vision of Atmanirbhar Bharat.

Additionally, BEL has secured other orders valued at Rs 1,092.65 crore. These orders encompass the supply of LRUs for T-70 & T-90 tanks, communication systems for the Indian Navy, as well as other Spares and Services. With these recent developments, BEL has now accumulated orders totalling Rs 32,716.33 crore in the current financial year, highlighting the company's continued growth and success in the defence sector.

Furthermore, the Board of Directors of the company has declared a second interim dividend of Rs 0.70 (70 per cent) per equity share of Rs 1 each fully paid up for the financial year 2023-24. The record date for the second interim dividend is March 23, 2024.

Incorporated in 1954, Bharat Electronics Ltd manufactures and supplies electronic equipment and systems to the defence sector. The company also has a limited presence in the civilian market. The company has a market cap of Rs 1.37 lakh crore and has been maintaining a healthy dividend payout of 45.4 per cent.

According to Quarterly Results, the net sales increased by 0.22 per cent to Rs 4,162.2 crore and net profit increased by 40.6 per cent to Rs 848.1 crore in Q3FY24 compared to Q3FY23. In its half-yearly results, the net sales increased by 6.19 per cent to Rs 7,542 crore and net profit increased by 34.85 per cent to Rs 1,309.33 crore in H1FY24 compared to H1FY23.

Order Book: The company's order book received a significant boost this year with a new order worth Rs 32,716.33 crore, pushing the total order book over Rs 93,000 crore. This comes on top of the Rs 60,690 crore order book reported on March 31, 2023.

The stock gave multibagger returns of over 100 per cent in just 1 year, 340 per cent in 3 years and a whopping 1,700 per cent in a decade. The stock has an ROE of 22.80 per cent and an ROCE of 30 per cent. This PSU Large-Cap stock should be kept under the radar.

Disclaimer: The article is for informational purposes only and not investment advice.