Buy Bharat Electronics; target of Rs 200: Edelweiss

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26 Aug, 2025 12:21

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Edelweiss' research report on Bharat Electronics

BEL’s execution was robust in Q4FY17 with 24% YoY growth, led by execution of large value projects bagged over the past 12-15 months. This led to an impressive 18% YoY spurt in FY17 top line (2x past 10 years’ average).

Outlook

Key value driver over the next 2-3 years remains a healthy double digit growth in order book, sustainable OPMs and pick up in execution around large systems over FY17-19E. We maintain ‘BUY/SO’.

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