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Bharat Electronics Ltd share Price

Company details

6M Return 46.13%
1Y Return 25.45%
Mkt Cap.(Cr) 99,449.54
Volume 12,604,969
Div Yield 1.32%
OI Chg %
Volume 12,604,969

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Technical Outlook
    Defense sector has been in limelight in H2CY22 and over past three to four months have undergone healthy retracement of CY22 gains. BEL within Defense PSU space has undergone decent price/time correction thus offering favourable risk-reward proposition
    Structural perspective, the share price has held its long term rising 52-week EMA that has held on numerous occasions since CY20. Over past one month while markets remained in corrective phase, share price of BEL bottomed out in January and underwent base formation , thus working out of overbought conditions
    We expect stock to resume its uptrend in coming weeks and head towards ₹110 which is 80% retracement of the entire decline of September 2022-January 2023 decline (114-87
    Among Oscillators weekly Stochastic has generated bullish crossover recently and is in rising trajectory thus validates positive bias
Fundamental Outlook
    Bharat Electronics (BEL) is a leading aerospace and defence electronics company. It primarily manufactures advance electronics products. It has a multi-product, multi-technology- diverse product range including radar, missile systems, electronic warfare & avionics, anti-submarine warfare, electro-optics, home land security, civilian products, etc. BEL’s focus is on increasing non-defence share to ~20-25% over two to three years

    During Q3FY23, company’s revenue increased 11.8% YoY (up 4.7% QoQ) to ₹ 4131.0 crore; primarily driven by better execution. EBITDA margin stood at 20.7% in Q3FY23 which contracted 160 bps YoY (-103 bps QoQ) primarily on account of higher raw material cost. PAT increased 2.6% YoY to ₹ 598.8 crore. Order backlog was at ₹ 50116 crore as of December 2022 end (2.9x TTM revenues). Implied order inflows were at ₹ 1452 crore during Q3FY23 and ₹ 3736 during 9MFY23

    Despite order inflow of just ₹ 3736 crore in 9MFY23, management has reiterated its FY23 order inflow guidance of ₹ 20,000 crore. Major orders expected are Himshakti programme of ₹ 3300 crore, Atulya medium-power radar of ₹ 2000-3000 crore and orders worth ~₹ 10,000 crore for radars and SONAR expected from naval shipyards. Other large contracts of QRSAM (Quick Range Surface to Air Missile) and Akash missile systems is expected to be awarded in FY24

     BEL’s strategy to diversify into non-defence areas, focus on increasing exports and services share would aid long term growth and help de-risk its business. We expect revenue, EBITDA and PAT to grow at 18.5%, 20.1% and 18.2% CAGR respectively, in FY22-24E aided by pickup in execution of healthy order backlog with sustained margins at ~22% during the same period

    Overall, expected double digit revenue, order inflow growth, sustained margins and strong order book are expected to ensure a better performance

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Defence company Bharat Electronics announced Q1FY24 results:

  • Turnover of Rs 3,446.69 crore, registering a growth of 12.51% during Q1FY23 over the turnover of Rs 3,063.58 crore recorded in Q1FY23.
  • Profit Before Tax (PBT) during Q1FY24 stood at Rs 703.75 crore, registering a growth of 21.73% over Rs 578.10 crore recorded in Q1FY23.
  • Profit After Tax (PAT) during Q1FY24 stood at Rs 530.84 crore, registering a growth of 23.02% over Rs 431.49 crore recorded in Q1FY23.
  • The order book position of the company as of 1st July 2023 stood at Rs 65,356 crore.



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Investment recommendation
Call Date
28 Jan 2023
Entry Price 94.00
Target Price 130.00
12-18 Month


Operating Profit
Profit after Tax
Reserves and Surplus
Operating Profit
Profit after Tax

Bharat Electronics Ltd Stocks COMPARISION


Equity Capital: 13,861.63 Cr FV: 1.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 13,565.29 -8,591.81
LAST 3M 37,244.98 3,231.65
LAST 6M 45,909.21 154,115.29
LAST 12M 133,371.71 158,810.39

Bharat Electronics Ltd Information

Stock PE (TTM)
Promoter Holding
Book Value
  • Bharat Electronics Ltd. (BEL) manufactures state-of-the-art electronic products and systems for the Indian Navy, Indian Air Force, and Indian Army. It is managed by the Ministry of Defence, Government of India. The company was incorporated in 1954, with its headquarters in Bengaluru. During FY 2021-2022, the total revenue of Bharat Electronics Ltd. was Rs 15,599 crore, up 9.60% from the previous financial year, 2020-2021. On 30 August 2022, the company’s market capitalisation stood at Rs 74,681 crore.  

    The company is listed on the Bombay Stock Exchange with the code 500049, and on the National Stock Exchange with the code BEL.  

    Bharat Electronics Ltd. has diversified into various sectors like smart cities, homeland security solutions, e-governance solutions, energy storage products, including e-vehicle charging stations, space electronics including satellite integration, railways and metro solutions, telecom products, medical electronics, solar, network and cyber security solutions, and passive night vision devices, among others. It has received the Navratna status from the Government of India.   

    On 30 June 2022, the company’s shareholding pattern reflected a public stake of 5.11%, a domestic institutional investor stake of 27.76%, a foreign institutional investor stake of 15.99%, and a promoter stake of 51.14%. The entire promoter share belongs to the President of India. In the June 2022 quarter, mutual fund holdings increased from 21.74% to 22.42%, while FII holdings decreased from 16.77% to 15.99%. The number of mutual fund schemes increased from 153 to 192.  

    The company’s leadership team comprises Mrs Anandi Ramalingam, Mr Dinesh Kumar Batra, MrShivnath Yadav, Mr Bhanu Prakash Srivastava, Mr Anurag Bajpai, Dr N Santhosh Kumar, Mr M V Rajasekhar, MrMansukhbhai S Khachariya, and Mrs Shyam Singh. Guru & Jana and Suri & Co. are the auditors of the company. On 30 June 2022, the company had a total of 243.66 crore shares outstanding.  

    On 30 August 2022, Bharat Electronics Ltd.’s share price closed at Rs 307 on BSE and at Rs 306.50 on NSE. The 52-week high for Bharat Electronics Ltd.’s share price was Rs 311.85, and the 52-week low for the company’s share price was Rs 183.45. Its one-year return to the investors was 66.85%.  

    The company’s peers include Thermax Ltd., AIA Engineering Ltd., Bharat Heavy Electricals Ltd., and Praj Industries Ltd. 

    Disclaimer: ICICI Securities Ltd. (I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is a Member of National Stock Exchange of India Ltd (Member Code :07730), BSE Ltd (Member Code :103) and Member of Multi Commodity Exchange of India Ltd. (Member Code: 56250) and having SEBI registration no. INZ000183631. Name of the Compliance officer (broking): Mr. Anoop Goyal, Contact number: 022-40701000, E-mail address: complianceofficer@icicisecurities.com. Investment in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein above shall not be considered as an invitation or persuasion to trade or invest.  I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. The contents herein above are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. Investors should consult their financial advisers whether the product is suitable for them before taking any decision. The contents herein mentioned are solely for informational and educational purpose 

No Data Found

AGM Date (Month) : Aug
Face Value Equity Shares : 1
Market Lot Equity Shares : 1
BSE Code : 500049
NSE Code : BEL
Book Closure Date (Month) :
BSE Group : A
ISIN : INE263A01024

FAQ’s on Bharat Electronics Ltd Shares

You can buy Bharat Electronics Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Bharat Electronics Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Sep 22, 2023 03:59 PM the closing price of Bharat Electronics Ltd was ₹ 136.05.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Sep 22, 2023 03:59 PM, the market cap of Bharat Electronics Ltd stood at ₹ 99,449.54.

The latest PE ratio of Bharat Electronics Ltd as of Sep 22, 2023 03:59 PM is 31.49

The latest PB ratio of Bharat Electronics Ltd as of Sep 22, 2023 03:59 PM is 0.14

The 52-week high of Bharat Electronics Ltd is ₹ 147.15 while the 52-week low is ₹ 87.00

According to analyst recommendations, Bharat Electronics Ltd has a “Buy” rating for the long term.

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