Bharat Electronics Secures Rs 593-Crore Contract From Indian Air Force
This marks the start of the 2025-26 financial year for BEL.
Bharat Electronics Ltd. signed a Rs 593.2-crore contract with the Indian Air Force for maintaining the Akash Missile System, which it had previously supplied.
This marks the start of the 2025-26 financial year for BEL, according to an exchange filing on Wednesday. Additionally, the company has finalised talks with customers for orders valued at Rs. 5,000 crore.
On Wednesday, the company reported that it fell short of its fiscal 2025 order inflow target, securing Rs 18,715 crore in orders compared to the projected Rs 25,000 crore, achieving 74.86% of the goal.
However, it recorded a 16% increase in revenue, rising to Rs 23,000 crore from Rs 19,820 crore in the previous year.
Q3 Performance
Bharat Electronics reported a 53% year-on-year increase in net profit, reaching Rs 1,311 crore for the quarter ended December, Analysts surveyed by Bloomberg had estimated the profit at Rs 942 crore.
Revenue from operations grew by 38.7% to Rs 5,771 crore during the October-December quarter, compared to Rs 4,162 crore in the same period last year. It exceeded Bloomberg's consensus estimate of Rs 5,023 crore.
Shares of BEL closed 3.29% lower at Rs 282.40 apiece on the National Stock Exchange, compared to a 0.72% rise in the benchmark Nifty. The stock has risen 27.78% in the last 12 months and declined 3.67% on a year-to-date basis.
Out of the 28 analysts tracking the company, 25 have a 'buy' rating on the stock, one recommends 'hold' and two suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 21.3%.
