Bharat Electronics Ltd (BEL) Shares price 8% today
Bharat Electronics Ltd (BEL) Shares price 8% today :- Hold onto your hats, folks! Bharat Electronics Ltd (BEL) just saw its shares rocket up by a whopping 9.25%, reaching a high of Rs 282.80 on the BSE. The defense stock is a real high-flyer, up 154% percent in the past year alone.
Nomura India’s Take:
Nomura India is predicting BEL to show a solid 16% PAT CAGR from FY23F to FY26F, and they’ve set a target price of Rs 300 for this powerhouse stock. Why the optimism? BEL’s Q4 earnings smashed expectations thanks to strong profit margins and a nice boost in other income. The company also saw a surge in order inflows, pushing its stock higher.-Bharat Electronics Ltd (BEL) Shares price 8% today
Analysts’ Highlights:
- BEL’s gross profit margin has been rock-solid, averaging 48.5% over the last three quarters.
- Nomura notes that while other expenses went up, employee costs went down, leading to a sweet EBITDA margin of 26.7% (higher than both Nomura’s and consensus estimates).
Bharat Electronics Ltd (BEL) Shares price 8% today
Income Jump:
BEL saw a 225% year-on-year increase in other income, leading to a PAT beat by 17-21% over estimates. Nomura stays positive on BEL, citing its market dominance and increasing project sizes as it climbs the value chain as a system integrator.
Target Prices and Ratings:
- Motilal Oswal: Upgraded BEL to “BUY” from “Neutral” with a revised target price of Rs 310. They highlight BEL’s growing market share in indigenization and increased non-defense revenues.
- Jefferies: Upped their target by Rs 45 to Rs 305, seeing an 18% upside. They were impressed by the Q4 EBITDA, which was 30% above expectations.
- Morgan Stanley: Maintained an “overweight” rating and raised the target to Rs 300.
- Macquarie: Kept an “outperform” rating with a target of Rs 280.
BEL’s Impressive Numbers: For the March quarter, BEL posted a 30% jump in consolidated net profit, hitting Rs 1,796 crore. Revenue from operations soared by 32% to Rs 8,564.08 crore.
Bharat Electronics Ltd (BEL) Shares price 8% today
Dividends and Cash Flow:
- BEL has recommended a final dividend of Rs 0.80 per equity share for FY23-24, pending shareholder approval.
- The company has a substantial cash pile of Rs 110 billion and reported a strong operating cash flow of Rs 46 billion.
In conclusion, BEL is on fire, folks! With strong financials, a robust order backlog, and bullish analyst ratings, it looks like BEL is set to keep soaring. Time to fasten your seatbelts and enjoy the ride!
Promoter/FII Holding
As of March 31, 2024, the promoters were holding onto a whopping 51.14% of the company’s shares. Foreign institutional investors (FIIs) weren’t slacking either, with a 17.56% stake, while our local domestic institutional investors held a solid 22.63%.[Bharat Electronics Ltd (BEL) Shares price 8% today]
Key Financials
Now, let’s talk numbers! For the quarter ending March 31, 2024, the company raked in consolidated sales of Rs 8789.51 crore. That’s not just any increase—it’s a sky-high jump of 103.01% from the previous quarter’s Rs 4329.58 crore. Compared to the same quarter last year, which brought in Rs 6545.28 crore, sales went up by 34.29%.
And the net profit? Hold on to your hats! The latest quarter saw a net profit after tax of Rs 1797.11 crore. This is a cool 30.04% rise from the same quarter a year ago. Time to celebrate!
Disclaimer: This is not financial advice. Always consult with a financial advisor before making investment decisions.[Bharat Electronics Ltd (BEL) Shares price 8% today]
