- 07 Dec 2023
- ICICI Securities
BEL RECEIVES ORDERS WORTH RS 3915 CRORE
BEL - 313 Change: -3.85 (-1.21 %)News: Bharat Electronics (BEL) has announced that the company received orders worth Rs 3915 crore during 15th Sept 2023 till date. This include Rs 580 crore order from Indian Army for AMC (Annual Maintenance Contract) of Radars and Rs 3335 crore worth of multiple orders like AMC for AEW&C system (Airborne Early Warning & control), Uncooled TI (Thermal Imager) sights, Software Defined Radios, SWIR (Shortwave Infrared) pay load, AMC for IACCS (Integrated Air Command and Control System), Passive Night Vision Binoculars etc. With these orders, BEL has received orders worth Rs 18298 crore in YTDFY24.
Views: We believe that the company will be able to exceed its full year order inflow guidance of Rs 20000 crore. The order backlog is estimated to be at ~Rs 69000 crore (3.8x TTM revenues) provides healthy revenue growth visibility. Moreover, the order pipeline remains strong in defence electronics systems, non-defence and exports.
Impact: Positive