BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Prabhudas Lilladher Report
Bharat Electronics Ltd. results were broadly in-line with estimates. The company reported revenue of Rs 39.5 billion (up 7.8% YoY) and profit after tax came in at Rs 6.1 billion (flat YoY) in Q2 FY23.
H1 FY23 Ebitda margin improved 204 basis points YoY to 19.4%, owing to better absorption of fixed overheads. Order inflows came in at ~Rs 13.6 billion (down 49.3% YoY) in Q2 FY23, while order book stood at ~Rs 528 billion (3.1 times trailing twelve months revenue), providing revenue visibility for next couple of years.
Order pipeline stands strong from Akash weapon system, quick reaction surface-to-air missile, long range surface-to-air missile and naval equipment’s like surveillance system, radars, navigation systems etc.
BEL has been focusing on diversification in non-defense verticals such as electric vehicle, metros, electronic warfare, healthcare, homeland security etc.
Moreover, BEL recently signed a memorandum of understanding with Triton Electric Vehicle Pvt. Ltd. for manufacturing Hydrogen Fuel cells, with technology transfer from TEV.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR