PSU Navratna Defence Company BEL Bags Rs 3,289 Cr Order, Shares Rally

Bharat Electronics bags order from Hindustan Shipyards received new Defence and non-Defence orders worth Rs 3,289 crore during July and August 2023 (till date). These orders are in addition to the Rs. 8,091 Cr orders, which are already received. With this, BEL has in all received orders of Rs. 11,380 Cr till now in the financial year 2023-24, according to BSE filing. Meanwhile, BEL shares rallied 1.95% in morning trade on Monday. Bharat Electronics stock gained 120% in last 2-years. Check details below:

Bharat Electronics Bags Orders: According to the BSE filing of BEL dated August 25, "Navratna Defence PSU Bharat Electronics Limited (BEL) has received new Defence and non-Defence orders worth Rs. 3,289 Cr. During July and August 2023 (till date)." The orders are for supply of Low Level Light Weight Radars, SONARS, IFF, Systems, SATCOM Systems, EO/IR Payloads, TRM/DTRMs, Jammers, Encryptors, Data Link Systems, Fire Control Systems, Radars for Directed Energy Systems, Semi Rugged Telephone Exchanges, Software Defined Radios and various others types of radios, Electronic Voting Machines, AMC and Spares. These also include the LoI / order worth Rs 1,075 Cr received today from Hindustan Shipyards Limited for supply of CMS, Communication Systems, EW Systems and other sensors for Fleet Support Ships."

Bharat Electronics Stock Performance & Return: Current market price of BEL share is Rs 135.95. Its 52-week high price is Rs 138.20 apiece and 52-week low price is Rs 87.00 apiece, respectively. The large cap defence PSU company has a market capitalisation of Rs 99,120.60 crore. BEL shares soared 23% in last 3-months, gained 33% in last 1-year, surged 263% in last 3-years, and offered shareholders return of 254% in last 5-years.

Bharat Electronics Financials: The zero-debt burden company for the quarter ended June 30, 2023 declared its consolidated total income at Rs 3673.17 crore, down 43.88% as against its last quarter total income of Rs 6545.28 crore. The PSU company in its recent quarter announced its net profit after tax at Rs 528.60 crore.

Bharat Electronics About: Established in 1954, BEL engages in manufacturing of specialised electronic equipment requirements of the Indian Defence Services. BEL produces a wide range of equipment for areas such as defence communication, radars, naval systems, c4i systems, weapon systems, homeland security, telecom & broadcast systems, electronic warfare, tank electronics, electro-optics, professional electronic components and solar photovoltaic systems, according to its official website.