Bharat Electronics climbs 3% as Dinesh Kumar Batra takes charges as CMD

Shares of aerospace and defence electronics manufacturer Bharat Electronics climbed over 3 per cent in Friday’s trade amid reports the company’s CFO Dinesh Kumar Batra has taken additional charge as chairman and managing director (CMD) of the navratna defence PSU.

As director (Finance) & CFO, Batra steered BEL to achieve its highest ever turnover of Rs 15,044 crore and profit after tax (PAT) of Rs 2,349 crore in FY 2021-22.

For the quarter ended June 30 2022, the company reported consolidated sales of Rs 3,140.61 crore, up 90.49 per cent from the year-ago quarter's Rs 16,48.67 crore. The company reported a net profit of Rs 356.13 crore for the latest quarter.


Brokerage firm JM Financial on September 1 recommended a buy on Bharat Electronics with a target price of Rs 350.

The brokerage believes improving inflows and prudent working capital management is likely to further strengthen the balance sheet. It maintains a target price of Rs 350, based on 23x Sep’24E EPS (50 per cent premium to 10-year median multiple)

Bharat Electronics, incorporated in the year 1954, is a largecap company operating in the defence sector.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)