Bharat Electronics Q4 Results: Profit Beats Estimates, Order Book At Rs 71,650 Crore

Bharat Electronics Ltd. saw robust earnings growth in the fourth quarter of the financial year 2024-25 on the back of steady order flows.

Consolidated net profit of the public sector company surged 18.4% to Rs 2,127 crore in the January-March quarter, compared to Rs 1,797 crore in the corresponding period last year, according to the financial results released on Monday.

The bottomline significantly beat the Bloomberg analysts' consensus estimate of Rs 1,752 crore.

For the whole year, the profit of the 'Navratna' defence PSU rose 34% to Rs 5,321 crore from Rs 3,984 crore in fiscal 2024.

The operational profitability of BEL also improved better than the projection, with earnings before interest, tax, depreciation and amortisation, or Ebitda, surging 23% and margin expanding to 30.8%.

Bharat Electronics Q4FY25 Highlights (Consolidated, YoY)

• Revenue up 6.8% at Rs 9,149 crore versus Rs 8,564 crore (Bloomberg estimate: Rs 8,890 crore)

• Ebitda rises 23% to Rs 2,815.5 crore versus Rs 2,287.5 crore (Bloomberg estimate: Rs 2,250 crore)

• Margin at 30.8% versus 26.7% (Bloomberg estimate: 25.3%)

• Net profit up 18.4% at Rs 2,127 crore versus Rs 1,797 crore (Bloomberg estimate: Rs 1,752 crore)

Orderbook Position

• The PSU received orders worth Rs 18,715 crore in the financial year ending March 2025, compared to the forecast of 25,000 crore.

• Orderbook stood at Rs 71,650 crore as of March 2024.

The board recommended a final dividend of Rs 0.9 per share for fiscal 2025, subject to approval by the shareholders in the next annual general meeting. The details regarding record date and dividend payment will be issued later.

Shares of BEL settled 0.1% lower at Rs 363.55 apiece on the BSE, ahead of the results, compared to a 0.33% decline in the benchmark Sensex. The stock has risen 32% in the last 12 months and by 23% so far this year.

Out of the 28 analysts tracking BEL, 24 have a 'buy' rating on the stock, two recommend a 'hold' and two suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price target of Rs 342 implies a potential downside of 6%.