Buy BEL, target price Rs 350: ICICI Securities

ICICI Securities has a buy call on Bharat Electronics with a target price of Rs 350. The current market price of Bharat Electronics Ltd. is Rs 313.7. Bharat Electronics, incorporated in 1954, is a Large Cap company with a market cap of Rs 229380.86 crore, operating in the Defence sector.

Bharat Electronics' key products/revenue segments include Electronic Components & Equipments, Sale of services, Other Operating Revenue, Scrap and Rent for the year ending 31-Mar-2024.

Financials

For the quarter ended 30-09-2024, the company has reported a Consolidated Total Income of Rs 4762.66 crore, up 7.09% from last quarter Total Income of Rs 4447.15 Crore and up 14.87 % from last year same quarter Total Income of Rs 4146.12 crore. The company has reported net profit after tax of Rs 1083.88 crore in latest quarter.

The company?s top management includes Mr.Bhanu Prakash Srivastava, Mr.Gokulan Bangakandy, Dr.Shivnath Yadav, Mr.Prafulla Kumar Choudhury, Dr.N Santhoshkumar, Mr.Mansukhbhai S Khachariya, Dr.P V Parthasarathi, Dr.Binoy Kumar Das, Mr.T Natarajan, Mr.K V Suresh Kumar, Mr.N Vikraman, Mr.S Damodar Bhattad, Mr.Manoj Jain, Mrs.Shyama Singh. Company has Guru & Jana as its auditors. As on 30-09-2024, the company has a total of 731 Crore shares outstanding.


Promoter/FII Holdings
Promoters held 51.14 per cent stake in the company as of 30-Sep-2024, while FIIs owned 17.27 per cent, DIIs 20.11 per cent.