Bharat Electronics gains on registering 14% growth in total turnover for FY24
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Bharat Electronics is currently trading at Rs. 222.90, up by 1.85 points or 0.84% from its previous closing of Rs. 221.05 on the BSE.
The scrip opened at Rs. 222.00 and has touched a high and low of Rs. 223.35 and Rs. 219.05 respectively. So far 632886 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 223.35 on 03-Apr-2024 and a 52 week low of Rs. 95.30 on 05-Apr-2023.
Last one week high and low of the scrip stood at Rs. 223.35 and Rs. 198.95 respectively. The current market cap of the company is Rs. 161582.66 crore.
The promoters holding in the company stood at 51.14%, while Institutions and Non-Institutions held 41.14% and 7.72% respectively.
Bharat Electronics (BEL) has reported a turnover of around Rs 19700 crore (Provisional & Unaudited), during the Financial Year 2023-24, against the previous year’s turnover of Rs 17,333 crore registering a growth of 13.66%.
In the fiscal year 2023-24, BEL successfully secured orders worth around Rs 35000 crore Among the notable defence orders obtained during the year were Electronic Fuzes, EW Systems, Communication Systems for naval warships, Fire Control Systems, Akash Prime Weapon System, Radars, Sonars, Software Defined Radios, Night Vision Devices, Tactical Communication Systems and other projects in Non-defence sector. With this, the total order book of BEL as on April 1, 2024, stands at around Rs 76000 crore.
BEL also achieved Export sales of around $92.98 million during FY 2023-24, as against the previous year’s export turnover of $48.33 million, registering a growth of 92%. Major products exported include Transmit & Receive (TR) Modules, Compact Multi-Purpose Advanced Stabilisation System (CoMPASS), Radar & Electronic Warfare Systems, Medical Electronics, Communication equipment etc. As on April 1, 2024 BEL's export order book stands at $407 million, with export orders acquired during the fiscal year amounting to $211 million.
BEL is a multi-product, multi-technology, multi-unit conglomerate with various products in the areas of military 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.
