Bharat Electronics - On A Strong Footing: Dolat Capital
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Dolat Capital Report
Bharat Electronics Ltd. is a classic example of an evolving diversification story, as it has significantly expanded product offerings across the non-defense segment in a well-timed manner with aim of achieving 25-30% of turnover in the medium term.
Bharat Electronics is targeting to scale services revenue share around 25% over next five years as it expects newly created strategic business unit to address the opportunities in the 'software as a service domain with potential biz of Rs 50 billion in the long term.
Management has guided FY22E sales growth at 15% with margin of ~22%.
In addition to the healthy order backlog of Rs 558 billion, management expects total inflows of Rs 150 billion plus in FY22E.
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