The revenue from operations stood at Rs 8,528.54 crore, up from Rs 6,456.58 crore posted in the same period last year. A final dividend of Re 0.80 per share for the financial year 2023-24 was also announced by the board of BEL.
Two interim dividends totalling Rs 1.40 per share were also paid for the financial year by the company in the months of February and March 2024.
“In view of the ongoing conflicts in Israel, the company has analysed the existing contracts/agreements with companies based in Israel. In our opinion there is no material financial impact as at the date of the results,” said BEL in the filing to the exchanges.
Also read: F&O Radar: Use bull call spread to capitalize on potential upmove in TVS MotorHere’s how brokerages see the results:NomuraNomura remains positive on BEL as it expects the secular growth to sustain, driven by its market dominance and increased project sizes, as it further ascends the value chain as a system integrator. The brokerage firm estimates BEL is poised to demonstrate a PAT CAGR of 16% over FY23F-FY26F.
They have maintained a target price of Rs 300 with a ‘buy’ for the stock.
Motilal Oswal
“We increase our earnings estimates by 21%/32% to factor in the government’s continued measures for the defence sector and the company’s improving market share, better-than-expected gross margin, and working capital. We expect a CAGR of 19%/20%/22% in sales/EBITDA/PAT over FY24-26,” said domestic brokerage firm Motilal Oswal.
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