Bharat Electronics Aims for Rs 20,000 Crore Turnover in FY24, Stock Surges

Bharat Electronics (BEL) has set a target of Rs 20,000 crore turnover for the financial year 2023-24 as demand for indigenous products is driving growth for the company. BEL achieved a turnover of about Rs 17,300 crore in the previous financial year, a 15% growth. The Bengaluru-headquartered company has plans to start marketing offices in Brazil, Armenia, and Kazakhstan. 

In order to increase indigenization and value addition, BEL, a technology-oriented company, has been investing approximately 6 – 7% of its turnover in research and development. Constant efforts in indigenous development have led to achieving about 70 to 80% of turnover from indigenous products. 

Bharat Electronics Limited has announced its financial results for the first quarter ending on June 30, 2023 (Q1FY24). During this period, the company generated revenue of Rs 3465.38 crore, reflecting a growth of 12.25% compared to the previous year. The operational profit for Q1FY24 was Rs 812.74 crore, marking a significant increase of 34.43% year-on-year. Additionally, the company’s net profit after tax (PAT) also demonstrated strong growth, reaching Rs 528.60 crore, which corresponds to a YoY increase of 48.43%. 

BEL is a multi-product, multi-technology, multi-unit conglomerate with various products in the areas of military communication, radars, naval systems, C4I systems, weapon systems, homeland security, telecom & broadcast systems, electronic warfare, tank electronics, electro-optics, professional electronic components, and solar photovoltaic systems. 

Today, the stock opened at Rs 130, with a high and low of Rs 131.65 and Rs 129. The stock is currently trading at Rs 131.15, up by 1.51%.  

The stock has a 52-week high of Rs 133.25 and a 52-week low of Rs 87. The company has a ROCE of 30.0% and an ROE of 22.8% with a market capitalisation of Rs 95,758 crore.  

Investors should keep a close eye on this stock. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.