Shares of state-owned Bharat Electronics Ltd. (BEL) traded with gains on February 10 after bagging various orders.
BEL said it has received orders worth Rs 962 crore, including a Rs 610 crore contract to supply an Electro-Optic Fire Control System (EOFCS) to the Indian Navy. EON-51 is an Electro-Optical Fire Control System which provides search, detection and classification of targets using electro-optical and thermal imager devices.
In a filing with the bourses, BEL said, "This fully indigenously developed system will be installed and integrated onboard Indian Naval Platforms. The system is capable of panoramic/sector search, tracking all types of targets during day/night and engages the tracked targets with the medium range and short range gun mounts."
At 9.22 am, shares of BEL were quoting Rs 281 on the NSE, higher by 1.4 percent compared to the previous session's closing price.
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The Ministry of Defence announced that it has signed a contract with Bharat Electronics Limited (BEL) in New Delhi for the procurement of 28 EON-51 systems. These systems will be deployed on 11 new-generation offshore patrol vessels and three cadet training ships for the Indian Navy. The deal, valued at Rs 642.17 crore, including taxes, falls under the Buy (Indian-IDDM) category.
Additionally, since its last disclosure on January 28, 2025, BEL has received fresh orders worth Rs 352 crore. These include contracts for anti-drone systems, fuzes, integrated fire detection and suppression systems, vessel communication systems, spares, and services. With these additions, BEL’s total order book for the financial year has reached Rs 11,855 crore.
Bharat Electronics reported a 37 percent on year jump in its revenue for the December quarter to Rs 5,643.25 crore whereas net profit rose a whopping 47 percent to Rs 1,316.06 crore.
However, the highlight of the show was the massive 330 basis point on year expansion in BEL's EBITDA margin to 28.7 percent in Q3, which beat the company's own guidance of 23-25 percent for the past six–eight quarters.
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