Bharat Electronics Q2 Review - On A Strong Footing: Dolat Capital
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.
Dolat Capital Report
Bharat Electronics Ltd. delivered a stellar Q2 FY22 with sales/Ebitda/profit after tax growth of 15%/37%/54% YoY (6%/19%/33% ahead of consensus estimate) respectively.
Ebitda margin expanded by 384 basis points YoY as operating leverage benefits negated the gross margin contraction of 145 bps.
Balance sheet strengthening continued as operating cash flow generation was healthy at Rs 94 million driven by control on working capital and timely collections, which resulted into higher other income of Rs 659 million.
Bharat Electronics has retained its FY22 guidance of sales growth at ~15% with Ebitda margin of ~22%.
It also expects order inflow of Rs 150 billion plus in FY22, implying an asking rate of Rs 90 billion in H2 FY22.
Order backlog stood at Rs 546 billion, up 5% YoY.
Click on the attachment to read the full report:
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.