Bharat Dynamics Q1 Review - Healthy Order Inflow; Execution Pickup To Follow: ICICI Securities

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..ICICI Securities Report.Bharat Dynamics Ltd. has reported lower-than-expected earnings in Q1 FY23 with ~50% QoQ decline in revenue and ~85% QoQ decline in profit after tax. Q1 FY23 has been able to contribute 4/6% of our FY23E Ebitda/profit after tax estimate. Order booking and execution needs to pick up substantially to avoid downgrades from hereon. Orderbook stood at ~Rs 130 billion, implying net order inflow of ~Rs 35 billion in Q1 FY23. Majority of order inflow is accounted for ~Rs 29.7 billion inflow on account of Astra beyond visual range air to air missile. Bharat Dynamics remains the defence prime (in our view) for manufacturing of missiles. The investments to augment capacity include establishing seeker facility centre and warhead production facility along with three new upcoming facilities at Ibrahimpatnam (Telangana), Jhansi (Uttar Pradesh) and Amaravati (Maharashtra)..Click on the attachment to read the full report:.DISCLAIMERThis 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.

Bharat Dynamics Q1 Review - Healthy Order Inflow; Execution Pickup To Follow: ICICI Securities

Bharat Dynamics Q1 Review - Healthy Order Inflow; Execution Pickup To Follow: ICICI Securities

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