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News: Bharat Electronics Limited (BEL), has secured additional orders worth Rs 561 Crores. Major orders include communication equipment, electro optics, upgrades for satcom network, radar & fire control system, spares, services etc.
Views: With these orders, BEL has now accumulated orders totalling Rs. 10362 crores in YTDFY25. Order backlog is estimated at Rs. 73100 crore (3.38x TTM revenue) which gives a healthy revenue growth visibility. Management guided ~Rs. 25000 crore worth of order inflows for FY25E, which implies strong order inflows in the next 1-2 months. Longer term order pipeline remains robust for electronic systems/sub-systems (including maintenance) across defence and non-defence segments.
Impact: Positive