Bharat Electronics Shows Strong Execution Despite Covid-19 Disruption: Motilal Oswal
A Schilka air defense weapon system manufactured by Bharat Electronics Ltd. (Photographer: Dhiraj Singh/Bloomberg)

Bharat Electronics Shows Strong Execution Despite Covid-19 Disruption: Motilal Oswal

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.

Motilal Oswal Report

In a communication to the stock exchanges, Bharat Electronics Ltd. announced that it had ended FY21 with a turnover of over Rs 135 billion (up 7% YoY, excluding-other operating income).

The company grew the business despite the challenges posed by the Covid-19 outbreak and rising competitive intensity in the business.

For Q4 FY21, implied execution is likely at Rs 64.4 billion (up 11% YoY), marginally better than our expectation (up 8% YoY).

The management would continue to focus on indigenization and increasing supply to the domestic markets, with an eye on reducing import dependency across the sector.

Click on the attachment to read the full report:

Motilal Oswal Bharat Electronics Company Update.pdf

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