Rs 88,000 crore order book: This multibagger aerospace & defence company bags new orders worth Rs 1,034.31 crore from Mazagon Dock Shipbuilders Ltd & various other clients!

The stock gave multibagger returns of 330 per cent in 3 years and a whopping 1,830 per cent in a decade.

On Saturday, shares of Bharat Electronics Ltd (BEL) gained 1.67 per cent to an intraday high & fresh 52-week high of Rs 195 per share. At the closing bell, shares of the company were trading at Rs 193.35 per share, up 0.81 per cent. The stock gave multibagger returns of 330 per cent in 3 years and a whopping 1,830 per cent in a decade.

BEL informed that the company has bagged new orders worth Rs.1034.31 crore. The company received an order from Mazagon Dock Shipbuilders Ltd for a value of Rs 695 crore for the supply of spares related to the missile systems. The company has also received additional orders worth Rs 339.31 crore and these orders pertain to the combat management system, composite communication system, transmit/receive modules, mobile autonomous stabilization system and other spares/services.

Earlier, BEL, India's leading electronics company, secured a record-breaking order worth Rs 8793 crore from the Indian Army. This order is a significant step towards domestic electronics and strengthens India's drive towards tech indigenization. The deal includes various equipment, such as AWACS and night vision, along with the maintenance of radar, which was valued at Rs 580 crore. This contract showcases BEL's expertise and strengthens the Army's electronic arsenal. Additionally, a massive Rs 4,522 crore fuse supply contract highlights India's commitment to self-reliance in critical defence tech. This order is a watershed moment for BEL and India's national security as it boosts cutting-edge technology and strengthens the country's defence capabilities.

With the above, BEL has cumulatively received orders worth Rs 27,647.31 crore (excl. taxes) in the current financial year 2023-24. This project will have the participation of Indian Electronics and associated Industries, including MSMEs which are sub-vendors of BEL. The equipment(s) manufactured by BEL are part of the Atmanirbhar Bharat program.

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 1.25 lakh crore and has been maintaining a healthy dividend payout of 45.4 per cent.

According to Quarterly Results, the net sales increased by 1.2 per cent to Rs 4,009.06 crore and net profit increased by 26.98 per cent to Rs 780.73 crore in Q2FY24 compared to Q2FY23. 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 27,647.31 crore, pushing the total order book past Rs 88,000 crore. This comes on top of the Rs 60,690 crore order book reported on March 31, 2023.

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.