Debt-free stock with Rs 75,934 crore order book: This multibagger aerospace & defence stock bags new order worth Rs 3,172 crore!
Shares of the company have gained more than 60 per cent in the last six months.
Bharat Electronics Limited (BEL), a one of the leading Indian defence company has secured contracts worth Rs. 3,172 crores. This includes a Rs. 3,172 crore contracts with Armoured Vehicles Nigam Limited (AVNL) to supply an upgraded Sighting and Fire Control System for Indian Army's BMP 2/2K tanks. BEL also received additional orders valued at Rs. 481 crores for Doppler weather radar, classroom jammers, and other services. In total, BEL has secured Rs. 4,803 crore worth of orders so far, this financial year. This significant achievement highlights BEL's role in strengthening India's domestic defence capabilities. BEL has an order book of Rs 75,934 crore.
Bharat Electronics Limited has posted strong Quarterly Results in Q4FY24. The revenue of the company stood at Rs 8,564.08 crore which grew by 32.18 per cent YoY. The operating profit of the company stood at Rs 2,512.66 crore which grew by 32.38 per cent on a YoY basis, while the PAT of the company stood at Rs 1,758.66 crore, which increased by 30.69 per cent on a YoY basis. The company is also a debt-free company with a small lease liability.
Bharat Electronics Limited was established in 1954 under the Ministry of Defence, the GOI, to cater to the electronic equipment requirements of the defence sector. The GOI remains BEL's largest shareholder with the current shareholding of 51.14 per cent. BEL was conferred the Navratna PSU status in June 2007. It is the dominant supplier of radar, communication and electronic warfare equipment to the Indian armed forces. The stock has delivered multibagger returns of about 140 per cent in the last one year.
The stock has shown tremendous growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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