Ra 60,690 crore order book: This PSU stock reports a 28 per cent jump in net profit; declares stellar dividend!
The stock has an ROE of 22.80 per cent and a ROCE of 30.20 per cent with multibagger returns of 110 per cent in just 2 years and over 420 per cent in 3 years.
On Monday, shares of Bharat Electronics Ltd (BEL) zoomed 0.53 per cent to Rs 111 per share from its previous closing of Rs 110.40. At the closing bell, shares of the company ended the day in red, down 2.26 per cent to Rs 107.90 per share.
BEL, a Navratna Defence PSU announced its quarterly and annual results for the year ended March 31, 2023. Details Below:
Quarterly Results: The net sales increased by 2.20 per cent, and the net profit increased by 19.58 per cent, with an EPS of Rs 1.90 in Q4FY23 over Q4FY22.
Annual Results: The net sales increased by 15.40 per cent, and the net profit decreased by 28 per cent, with an EPS of Rs 4.10 in FY23 over FY22.
Additionally, the order book position of the company as of April 1, 2023 stood at Rs 60,690 crore. Furthermore, the company declared a final dividend of Rs 0.60 per equity share (having a face value of Rs 1 each) on the enhanced share capital of the company post-bonus issue on Sept 15, 2022.
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BEL was established in 1954 in association with CSF, France (now, Thales), to meet the specialized electronic equipment requirements of the Indian Defence Services. In the current financial year 2022-2023, the company have received multiple order from the Government of India and the Ministry of Defence. The shares of the company saw a spurt in volume by more than 2.58 times on BSE.
The stock has an ROE of 22.80 per cent and a ROCE of 30.20 per cent with multibagger returns of 110 per cent in just 2 years and over 420 per cent in 3 years. This PSU large-cap stock should be kept under the radar.