Sharekhan's research report on Bharat Electronics
Recently, BEL received orders worth ~Rs. 8,801 crore, which helped the company in exceeding management’s order intake guidance of Rs. 20,000 crore, which gives strong growth visibility for FY2024 and beyond. Higher spending on defence by the government over the next few years with a focus on indigenisation will help company in maintaining growth momentum. New non-defence products will help the company diversify its revenue. Further, any breakthrough on the exports front could be a key growth catalyst.
Outlook
We expect Revenue/PAT CAGR of ~15% each over FY2023-FY2026E along with a high RoE/RoCE of 22%/21% in FY2026E. We retain Buy with a revised PT of Rs. 210.
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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
