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Motilal Oswal Report
In a communication to the stock exchanges, Bharat Electronics Ltd. announced that it had ended FY21 with a turnover of over Rs 135 billion (up 7% YoY, excluding-other operating income).
The company grew the business despite the challenges posed by the Covid-19 outbreak and rising competitive intensity in the business.
For Q4 FY21, implied execution is likely at Rs 64.4 billion (up 11% YoY), marginally better than our expectation (up 8% YoY).
The management would continue to focus on indigenization and increasing supply to the domestic markets, with an eye on reducing import dependency across the sector.
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