Bharat Electronics Q3 Results Review - Higher Margins Drive Net Profit Beat; Growth Priced In: Motilal Oswal

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Bharat Electronic Ltd.'s Q3 FY24 Ebitda margin and profit after tax came in ahead of our estimates despite weak revenue growth. Near-term challenges in the supply chain affected the company's revenue growth.Order inflows surpassed the company’s guidance due to the up-fronting of orders during the quarter. We expect Bharat Electronic to be a key beneficiary of the increasing defense indigenization.However, we believe the current stock price already bakes in 15%/16% compound annual growth rate over FY23-26 in order inflows/revenue, including large orders such as quick reaction surface-to-air missile, hence lacks re-rating potential in the near term.The finalisation of large orders will be positive for the company; however, they will also have an elongated execution period.We, thus, maintain our 'Neutral' rating on Bharat Electronic with a revised target price of Rs 190 based on 29 times March 26E earning per share and would look for better entry points in the stock..Click on the attachment to read the full report:.Thomas Cook - In A Sweet Spot To Leverage Structural Tailwinds In The Travel Sector: Systematix.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Bharat Electronics Q3 Results Review - Higher Margins Drive Net Profit Beat; Growth Priced In: Motilal Oswal

Better-than-expected margins drive a beat in profit after tax.

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Bharat Electronics Q3 Results Review - Higher Margins Drive Net Profit Beat; Growth Priced In: Motilal Oswal

Better-than-expected margins drive a beat in profit after tax.

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