Bharat Electronics Q2 Results Review - On The Roll: 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 Electronics Ltd. reported a strong Q2 FY24 performance despite logistics-related disruptions at the month end. Key points:Ebitda rose 22% YoY at Rs 10.1 billion. Ebitda margin rose 338 basis points YoY at 25.3%.Deliveries during the quarter were impacted by a two-day strike of transporters in Bangalore in end-September 2023. Orderbook stood at a healthy Rs 687 billion (3.87 times trailing twelve months revenue) and implied H1 FY24 order inflow was at Rs 154 billion. Going ahead, we expect execution to pick up further in H2 FY24, though exports might be impacted by the ongoing Israel-Palestine conflict. That said, we see no risk to our estimate of Ebitda growth of 13% YoY and order inflow of Rs 200 billion for FY24. We maintain 'Buy' and our target price of Rs 150 at 27 times FY25E earnings per share..Click on the attachment to read the full report:.Reliance Industries, Ujjivan SFB, Aavas Financiers, Indian Hotels, Route Mobile, Q2 Review: HDFC Securities.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 Electronics Q2 Results Review - On The Roll: ICICI Securities

We expect execution to pick up further in H2, though exports might be impacted by the ongoing Israel-Palestine conflict.

Choose a plan