On the BSE, BEL shares increased by 9.5 percent to a peak of Rs 282.80. Over the last year, the defensive multibagger stock has increased by 154%.
BEL share price today, BEL share price target, BEL Q4 results: Bharat Electronics Limited (BEL) shares on Tuesday, May 21 rose over nine per cent to clock a fresh 52 week high of Rs 282.75 on BSE, surpassing the earlier peak of Rs 260.6 clocked on May 18, 2024.
BEL share price today, BEL share price target, BEL Q4 results: Bharat Electronics Limited (BEL) shares on Tuesday, May 21 rose over nine per cent to clock a fresh 52 week high of Rs 282.75 on BSE, surpassing the earlier peak of Rs 260.6 clocked on May 18, 2024. The positive trend followed after the Navratna PSU staged a strong performance in the March quarter.
BEL share price target: What should investors do?
Jefferies continues to hold a buy position in Bharat Electronics. The firm increased the target price per share by Rs 45 to Rs 305, suggesting an 18% increase in value from the previous close. “Q4 EBITDA 30% above expectations as both margins & revenue surprised,” the brokerage stated in its statement.
“The brokerage said that while non-defense progress has been subdued over the past 12 months, FY24E–FY26E should witness double-digit revenue growth based on the order book and pipeline.
Morgan Stanley has kept its overweight rating and increased its target price per share from Rs 263 to Rs 300.
Nomura too has continued with a buy call with a target of Rs 300 apiece. Nomura highlighted the following key points:
- Earnings beat led by strong margins
- 4Q EBITDA ahead of Nomura estimates by 14 per cent
- The company has cash and cash equivalents of Rs 110 billion, compared with Rs 80 billion in FY23.
- Operating cash flow was at Rs 46 billion, up from INR 11 billion in FY23
- Order backlog at Rs 759 billion (3.8x TTM sales)
Morgan Stanley expects some operational efficiencies to remain sticky. It has raised EBITDA margin estimates to 24-24.5 per cent (vs 22.5-23 per cent earlier).
Macquarie has retained an outperform with a target of Rs 280 apiece.
BEL dividend
BEL has recommended a final dividend of Rs 0.80 per equity share of face value of Re 1 each fully paid-up for the financial year 2023-24 subject to approval by the shareholders in the next Annual General Meeting (AGM).
BEL Q4 results: How did it fare in March quarter?
Bharat Electronics posted a 30 per cent increase in its consolidated net profit at Rs 1,796 crore for the March quarter. The company had reported a net profit of Rs 1,382 crore in the year-ago period.
BEL’s revenue from operations came at Rs 8,564.08 crore, a 32 per cent jump against Rs 6,479.12 crore logged in the same quarter last fiscal.
