ICICI Direct's research report on Bharat Electronics
Bharat Electronics (BEL) is a leading aerospace and defence electronics company. It primarily manufactures advance electronics products. Multi-product, multi-technology- diverse product range including radar, missile systems, electronic warfare & avionics, anti-submarine warfare, electro-optics, homeland security, civilian products, etc • Focus to increase the non-defence share to ~20% over two to three years.
Outlook
We remain long term positive and retain our BUY rating on the stock. We value BEL at Rs 130 i.e. 28x P/E on FY24E EPS.
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