Bharat Electronics Secures Orders Worth Rs 572 Crore

Bharat Electronics Ltd. secured additional orders worth Rs 572 crores since the company's last disclosure on April 7, according to an exchange filing on Friday.

The major orders received by the Navratna defence public sector undertaking include integrated drone detection and interdiction system or IDDIS, software defined radio or SDR and data communication unit for attack guns.

Other orders include AI-based solutions for ships, simulators, communication equipment, jammers, spares, and services along with others, according to the exchange filing.

Bharat Electronics Ltd.'s fourth-quarter profit rose 30% year-on-year to Rs 1,797 crore for the quarter-ended March 2024, according to an exchange filing on Sunday.

Revenue rose 32% to Rs 8,564 crore in the January-March period as against Rs 6,479 crore over the same period last year.

As of April 1, the company's order book stood at Rs 76,000 crore, reporting a 25.2% growth compared to the previous fiscal. The board has recommended a final dividend of Rs 0.80 per equity share.

Amid the prevailing geopolitical tensions, defence stocks have shift gears and add over Rs 1 lakh crore in market cap. Nifty India Defence, the index which maps Indian defence stocks, has rallied over 12% in around the last three weeks.

The defence sector added Rs 1,17,163 crore in market capitalisation over the period and Bharat Electronics has added Rs 29,970 crore.

Shares of Bharat Electronics on Friday closed 3.85% higher at Rs 363.9 apiece on the NSE, compared with a 0.17% decline in the benchmark Nifty 50.