Bharat Electronics Q4 Results Review - Robust All-Round Performance: 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 Electronics Ltd.'s Q4 FY24 results beat our estimates, driven by better-than-expected Ebitda margin and profit after tax and strong revenue growth. Up-fronting of order inflows led to a beat in overall order inflows for the company. We expect Bharat Electronics to be a key beneficiary of increasing defense indigenisation. The share of indigenisation in the Indian defense sector has been continuously moving up and we expect Bharat Electronics’ revenue market share to remain high at around 12-13%. The company is continuously taking initiatives to increase the share of exports and non-defense revenues. We incorporate higher margins and increase our estimates by 21%/32% for FY25/FY26. We increase the valuation multiple to account for a larger market share of Bharat Electronics, benefits of technology tie-ups, MoUs, and an improving share of exports and non-defense in total revenues. We value Bharat Electronics at 35 times price/earnings on two-year forward earnings and revise the target price to Rs 310. We upgrade the stock to Buy from Neutral earlier..Click on the attachment to read the full report:.Bharat Electronics Q4 Results: Profit Up 30%, Beats Estimates.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 Q4 Results Review - Robust All-Round Performance: Motilal Oswal

Bharat Electronics to remain a key beneficiary of defense indigenisation and rising defense exports

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Bharat Electronics Q4 Results Review - Robust All-Round Performance: Motilal Oswal

Bharat Electronics to remain a key beneficiary of defense indigenisation and rising defense exports

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