Sharekhan is bullish on Bharat Electronics has recommended buy rating on the stock with a target price of Rs 110 in its research report dated July 01, 2020.
Sharekhan's research report on Bharat Electronics
Order book remains healthy at Rs. 51,970 crore (4xits FY2020 revenue), which provides sustainable revenue visibility;expect pickup in order intake during FY2022E. Management expects 10% revenue growth (including supply of ventilators ) and margins to beat 20-21% for FY2021E.We expect revenue CAGR of 6.2% and margin contraction of 274 bps (leading to flat PAT) during FY2020-FY2022E. BEL reported robust performance with revenue, EBITDA, and PAT registering growth of 49%/56%/74%y-o-y, respectively.
We reiterate our Buy rating on Bharat Electronics Limited (BEL) with a revised price target of Rs. 110.
For all recommendations report, click here
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