Shares of Bharat Electronics rose more than 5 percent to Rs 325.65 during the trading session on Monday, resulting in a total market capitalization of over Rs 2.40 lakh crore. Bharat Electronics Ltd reported a year-on-year (YoY) net profit increase of 46.17 percent to Rs 776.14 crore for the quarter ending June 30, 2024, compared to Rs 530.84 crore in the same quarter of the previous financial year.
The state-run defense company also saw a 19.6 percent YoY rise in revenue from operations, amounting to Rs 4,199 crore, up from Rs 3,511 crore in the year-ago quarter. As of July 1, 2024, the company’s order book stood at Rs 76,705 crore, according to an exchange filing.
The stock closed at Rs 309.90 in the previous trading session on Friday. Bharat Electronics’ shares have surged about 165 percent from their 52-week low of Rs 123.55, gaining over 75 percent in 2024 so far, with a 70 percent increase in the last six months and a 5 percent rise in the last month.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped 41 percent YoY to Rs 937 crore in Q1FY25, with the EBITDA margin increasing by over 330 basis points to 22.3 percent from 19 percent last year.
At their meeting held on May 20, 2024, Bharat Electronics’ board of directors recommended a final dividend of 80 percent (Rs 0.80 per share for shares with a face value of Re 1 each) for the year 2023-24. This is in addition to two interim dividends amounting to 140 percent, subject to shareholder approval at the upcoming annual general meeting.
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