Bharat Dynamics - Guided Missile Systems To Drive Orderbook, Profit Growth: ICICI Securities

Attendees stand in front of a Bharat Dynamics Ltd. Akash Weapon System, manufactured by the DRDO, on display during the Aero India air show at Air Force Station. (Photographer: Dhiraj Singh/Bloomberg)

Bharat Dynamics - Guided Missile Systems To Drive Orderbook, Profit Growth: ICICI Securities

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ICICI Securities Report

Bharat Dynamics Ltd. is a leading defence public sector undertaking in India manufacturing guided missile systems.

It has a product portfolio consisting of surface-to-air missiles (SAMs), anti-tank guided missiles (ATGMs), underwater weapons, launchers, counter-measures, and test equipment.

Bharat Dynamics also undertakes life-extension as well as refurbishment work on missile systems.

Currently, it is the key domestic supplier of SAMs and ATGMs to the Indian Armed Forces.

While July 2021 orderbook stands at Rs 87 billion (2.6 times book to bill), management has reiterated the possibility of orderbook expanding to Rs 230 billion over next two years.

Click on the attachment to read the full report:

ICICI Securities Bharat Dynamics Initiating Coverage.pdf

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