BEL’s outstanding orders swell to Rs68,000 crore

State-owned aerospace and defence company Bharat Electronics Ltd (BEL) has secured fresh orders worth Rs3,915 crore from the Indian Army. This takes BEL’s order book for the current financial year (as of 30 September 2023) to Rs18,298 crore.

The company’s current outstanding order book position (as of 1 October 2023) stands at over Rs68,000 crore. This includes hundreds of small and medium-sized orders as well.

The company received an order worth Rs580 crore from the Indian Army for AMC of radars. This project will have the participation of Indian electronics and associated industries, including MSMEs, which are sub-vendors of BEL.

BEL also received additional orders worth Rs3,335 crore from the Army since the last disclosure on 15 September 2023. These orders pertain to AMC for Airborne Early Warning and Control (AEW&C) system, Uncooled TI sights, Software Defined Radios, SWIR payload, AMC for IACCS, Passive Night Vision Binoculars etc.

The stock gave returns of 320 per cent in 3 years and a whopping 1,420 per cent in a decade.

On Thursday, shares of Bharat Electronics Ltd closed 2.62 per cent higher at Rs160.3 per share, after recording gains of 4.35 per cent at Rs163 in intraday trade.

Incorporated in 1954, Bharat Electronics Ltd manufactures and supplies electronic equipment and systems to the defence sector. The company also has a limited presence in the civilian market. 

BEL recorded a 1.2 per cent increase in revenue at Rs4,009.06 crore and a 26.98 per cent increase in net profit at Rs780.73 crore in fiscal second quarter (July-September 2023-24).

For the first half of the fiscal, BEL’s net sales increased by 6.19 per cent to Rs7,542 crore and net profit increased by 34.85 per cent to Rs1,309.33 crore.

The company has a market cap of Rs1.17 lakh crore and has been maintaining a healthy dividend payout of 45.4 per cent.

The company is planning to raise fresh capital of Rs700 to Rs800 crore. The company raised Rs250 crore capital last year.