- 31 Jan 2024
- ICICI Securities
BEL RECEIVES ORDERS WORTH RS 847 CRORE
BEL - 403 Change: -0.65 (-0.16 %)News: Bharat Electronics (BEL) has received orders worth Rs 847 crores. This includes an order worth Rs 666 crore from Central Board of Indirect Taxes and Customs (CBIC), for implementation & management of IT infrastructure. The scope of the project is to supply, install and maintain IT & networking infra, field IT support and centralised management and monitoring. Apart from this, company has received multiple orders worth Rs 182 crore towards miscellaneous spares & services.
Views: With these orders, BEL has cumulatively received orders worth Rs 28494 crore during YTDFY24. The order backlog is estimated to be at ~Rs 77000 crore (4.2x TTM revenues) provides healthy revenue growth visibility. Moreover, the order pipeline remains strong in defence (electronic warfare, radars, communication, navigation systems etc for various platforms like fighter jets, warships, missiles, unmanned Ariel vehicles), non-defence and exports.
Impact: Positive