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BEL shares rose 2.66% after securing a Rs 2,463 crore order from the Indian Air Force for Ashwini Radars, developed with DRDO. BEL’s market cap is Rs 2.07 lakh crore.
Bharat Electronics announces 150% interim dividend for FY2024-25.
BEL Share Price: Bharat Electronics Limited (BEL) shares are up 2.66 per cent during the intraday on Thursday following the mega order announcement of Rs 2,463 crore from Indian Air Force. Around 10:00 AM, the scrip was trading at Rs 284.10 apiece on BSE with a gain of 2.66 per cent, against the previous day close at Rs 276.75 apiece.
In the filing on March 12, BEL announced signing a contract with Ministry of Defence valued at Rs.2,463 crore for supply and services of Ashwini Radars. In the current financial year, BEL has now accumulated orders worth Rs 17,030 with the new order.
“These fully indigenous AESA radars developed jointly by DRDO and BEL have integrated IFF with electronic scanning in azimuth and elevation and are capable of 4D surveillance. These mobile radars with advanced ECCM features are deployable on all terrains and can automatically detect and track aerial targets ranging from fighter aircrafts to slow moving targets,” BEL said in the filing.
BEL is a Navratna PSU under the Ministry of Defence. It manufactures state-of-the-art electronic products and systems for the Army, Navy and the Air Force. The current market cap of BEL stands at Rs 2.07 lakh crore and is part of BSE 100.
With this latest contract, Bharat Electronics Ltd (BEL) has now achieved a total order inflow of Rs 17,030 crore for the current financial year.
Earlier this week, the defence PSU secured additional orders worth Rs 843 crore, further bolstering its order book for FY25. These new orders include RF seekers, vessel and air traffic management systems, radar upgrades, electro-optic repair facilities, spares, and services, reinforcing BEL’s position as a prominent defence supplier.
BEL Q3 Earnings
BEL reported a 47.3% increase in its profit after tax (PAT) for the third quarter ending December 2024, reaching Rs 1,316.06 crore, up from Rs 893.30 crore in the same quarter last year.
The company’s consolidated revenue from operations in the December quarter stood at Rs 5,770.69 crore, marking a 38.6% rise compared to Rs 4,162.16 crore in the corresponding quarter of the previous year.
For the nine-month period ending December 2024, BEL achieved a turnover of Rs 14,173.68 crore, surpassing the Rs 11,484.92 crore recorded in the same period last year.
BEL Shares Target Price
According to Trendlyne data, the average target price for BEL shares is Rs 336, indicating a potential upside of 22% from current market levels. The consensus recommendation from 24 analysts is a ‘Buy’.
