BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Bharat Electronics Ltd. reported higher than expected FY21 provisional revenues (in-line with guidance) at Rs 135 billion. This highlights:
1. the buoyancy in defence budget seen over CY20
2. the companys’ ability to keep diversifying its revenue stream as indicated by the execution mix and
3. the company’s ability to execute in an accelerated manner 30,000 ICU ventilator.
We believe, the risks to a constrained defence budget have largely reduced over the events of the past year, specially for defence primes like Bharat Electronics.
Management has earlier guided towards higher capex run rate to achieve double digit revenue growth (10-15% YoY capex growth per annum from the likely Rs 5.5 billion in FY21E).
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint 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 BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.