Bharat Electronics Ltd. missed its fiscal 2025 order inflow guidance, securing orders worth Rs 18,715 crore against its projected Rs 25,000 crore, a 74.86% achievement of the target.
Despite this, the company reported a 16% rise in revenue, reaching Rs 23,000 crore compared to Rs 19,820 crore the previous year.
BEL secured orders worth Rs 1,385 crore since March 12, taking the total value of accumulated orders to Rs 18,415 crore in the current financial year, according to an exchange filing on Thursday.
The public sector undertaking's major orders include radar spares, radar upgradation, electronic voting machines, simulators, advanced land navigation systems and stabilisers for tanks, fire control systems for ship-based decoys and communication equipment, it said.
Brokerage firm Jefferies believes that near-term order announcements could act as a catalyst. It noted that in fiscal 2023, BEL secured 83% of its orders in March and still met annual guidance. Rising global defence spending could be a positive factor, they added.
JPMorgan had predicted structural growth ahead with strong order announcements. Bharat Electronics had topped the Nifty 50 index in terms of the yearly returns posted for the financial year 2025, delivering nearly 50% gains.
Looking ahead, the company is eyeing major defence contracts in fiscal 2026, including quick reaction surface-to-air missile orders worth Rs 25,000-30,000 crore and next-generation corvette orders valued at Rs 14,000-15,000 crore.
Shares of the aerospace and defence electronics company ended 3.47% lower at Rs 292 apiece, as compared to a 1.5% decline in the benchmark NSE Nifty 50.
The share price has fallen 0.39% on a year-to-date basis and 38% in the last 12 months.
Out of 28 analysts tracking the company, 25 maintain a 'buy' rating, one recommends a 'hold', and two suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 17.2%.
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