Rs 91,000 crore order book: This multibagger aerospace & defence company bags new orders worth Rs 2,282.06 crore from Indian Navy & various other clients!
The stock gave multibagger returns of 325 per cent in 3 years and a whopping 1,835 per cent in a decade.
On Friday, shares of Bharat Electronics Ltd (BEL) gained 2.42 per cent to an intraday high of Rs 190.40 per share. At the closing bell, shares of the company were trading at Rs 190.4 per share, up 1.18 per cent. The stock gave multibagger returns of 325 per cent in 3 years and a whopping 1,835 per cent in a decade.
BEL informed that the company has signed a contract for a value of Rs 2,167.47 crore plus taxes with the Indian Navy for the supply of state-of-the-art indigenously designed and developed EW suite for use on-board warship. This EW suite is a big leap towards the Aatmanirbhar Bharat initiative of BEL. The company has also received additional orders worth Rs 114.59 crore since the last disclosure on January 30, 2023 and these orders pertain to the supply of SDRs, HD VLF receivers, EVMs etc.
With the above, BEL has cumulatively received orders worth Rs 30,776.06 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.
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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 30,776.06 crore, pushing the total order book over Rs 91,000 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.
Disclaimer: The article is for informational purposes only and not investment advice.
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