Bharat Electronics (BEL) jumped 5% to Rs 258.20 on the BSE in Monday’s intra-day trade after the company reported a profit after tax (PAT) of Rs 431.49 crore in June quarter (Q1FY23). (Read more:- Indian IT Company Wipro Will Give Big Gifts to Its Employees)
Reason for Jump of Bharat Electronics (BEL) Share
The reason for the growth of the share is due to the profit earned by Bharat Electronics (BEL) declared in the profit after tax (PAT) of Rs 431.49 crore in the June quarter (Q1FY23). As per the Q1FY23 revenue grew 90.4% YoY to Rs. 3112.8 crores on the back of a lower base and some revenue spillover from Q4FY22.
The EBITDA margin improved by 1265 bps to 16.5% (Q1FY22 margin impacted due to high fixed costs as a percentage of sales).
The many popular brokerage firms assume that BEL will grow its earnings in two digits in the future. It will happen because of the healthy order book at Rs 55,333 crore (~3.3x TTM revenues), and good digits of holding orders in both defense & non-defense segments.
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What is the market cap of BEL?
As per the online information, the BEL (Bharat Electronic) market cap is around Rs. 59,818.36 Cr. Bharat Electronics is one of the top-notch favourites investing a market share of brokerage houses. ICICI Direct issued a buy call on 2 June when it was at 245.6 with a target price of Rs 290.
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