Sharekhan's research report on Bharat Electronics
MOU with the Airport Authority of India to create opportunities in the global civilian airport business. Order intake increased by 72.2% y-o-y and 19.3% q-o-q to Rs 3,419 crore while order book remains healthy at Rs. 53,752 crore (4.2xits FY2020 revenue), which provides sustainable revenue visibility. Q1FY20 performance adversely impacted owing to lower execution led by COVID-19 led crisis resulting in revenue, EBITDA and PAT being lower by 21%/59%/75%y-o-y respectively.
Outlook
We reiterate our Buy rating on Bharat Electronics Limited (BEL) with a price target of Rs. 110.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.