Bharat Electronics Order Book Swells As Defence PSU Inks Fresh Pacts Worth Over Rs 700 Crore

Bharat Electronics Ltd. on Thursday received orders worth Rs 732 crore since Oct. 22, the defence company said in an exchange filing.

Major orders that were received in the last week are for Software Defined Radios, tank sub systems, communication equipment, missile components and financial management software. The Navratna company also received orders for cyber security solution, upgrades, spares and services.

The Software Defined Radios are the first fully indigenous radios, jointly designed and developed with DRDO and manufactured by BEL. The SDRs are interoperable with existing or legacy radios and facilitate smooth transition between technologies. These SDRs will ensure secure, real-time communications and strengthen the Army's operational readiness in today's challenging network-centric battlefields.

The Andhra Pradesh government earlier this month has approved BEL proposal to establish an integrated defence manufacturing complex in Gorantla. The manufacturing facility will be located in the Sri Sathya Sai district, with a total investment of Rs 2,500 crore, according to a report by Informist, citing a source in the industrial department.

The state government has issued formal orders clearing the project and has also extended incentives linked to project milestones, according to the report.

According to the BEL’s proposal quoted by Informist, the company plans to develop the Defence Systems Integrated Complex in two phases. The first phase will need an investment of Rs 1,400 crore in the first phase and Rs 1,100 crore in the second.

The Andhra Pradesh government has allotted 914 acres of land for the facility, which is expected to cater to multiple segments of the defence and aerospace sector, the report added.

Bharat Electronics aims to complete both phases of the project by March 2029, the report added. The upcoming complex is expected to boost high-technology manufacturing, create skilled employment, and enhance the region’s industrial ecosystem around advanced defence production.

The business update was shared after market hours. The stock settled 0.66% higher at Rs 409.90 apiece on the NSE, compared to a 0.68% decline in the benchmark Nifty 50. The shares earlier during the day rose as much as 0.85% to Rs 410.65 per share.

BEL's shares have risen 42.06% in the last 12 months and 39.83% year-to-date.

Out of 32 analysts tracking the company, 27 maintain a 'buy' rating, two recommend a 'hold' and three suggests 'sell', according to Bloomberg data. The average 12-month consensus price target of Rs 436.57 implies an upside of 6.5%.