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Motilal Oswal Report
Bharat Electronics Ltd. remains one of Motilal Oswal's preferred plays in the defence electronics space despite a slightly weaker-than-expected June quarter performance. The brokerage has reiterated its 'Buy' rating on the stock and raised its target price to Rs 530 from Rs 510, implying an upside potential of about 30% from current levels.
BEL reported a mixed set of numbers for Q1 FY27. Revenue rose 25% YoY to Rs 5,530 crore, while PAT increased 8% YoY to Rs 1,050 crore.
However, Ebitda margins contracted to 25.1% from 28.1% a year ago, impacted by an unfavorable execution mix. The brokerage noted that Ebitda and profit were slightly below its estimates.
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