Rs 60,690 crore order book: This multibagger aerospace & defense stock under Rs 150 reports a 48 per cent jump in net profit!
Shares of the company gained more than 40 per cent in the last six months.
Bharat Electronics Limited has reported results for the first quarter ended June 30, 2023 (Q1FY24). The revenue of the company for Q1FY24 stood at Rs 3465.38 crore which grew by 12.25 per cent YoY. The operating profit of the company stood at Rs 812.74, growing 34.43 per cent YoY while the PAT of the company grew by 48.43 per cent YoY staying at Rs 528.60 crore.
Bharat Electronics Limited (BEL), a navratna defence public sector undertaking (DPSU), was established in 1954 under the Ministry of Defence, the Government of India, to cater to the electronic equipment requirements of the defence sector. BEL was conferred the Navratna PSU status in June 2007. BEL is the dominant supplier of radar, communication, and electronic warfare equipment to the Indian armed forces. The company has nine manufacturing units across India and two research units.
Bharat Electronics Limited has delivered multibagger returns to its shareholders in the last three years. During this period, shares of Bharat Electronics surged from Rs 31.95 on July 31, 2020, to Rs 130.15 on July 28, 2023, an increase of about 300 per cent in a three-year holding period.
On Friday, the stock opened at Rs 129.75, with a high and low of Rs 131.75 and Rs 127.35. The stock closed trading at Rs 130.05, up by 2.20 per cent. Investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.