Buy Bharat Electronics, target price Rs 130: ICICI Direct

ICICI Direct has buy call on Bharat Electronics with a target price of Rs 130. The current market price of Bharat Electronics is Rs 87.8. Time period given by analyst is 12-18 months when Bharat Electronics price can reach defined target.


Bharat Electronics, incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 68931.21 Crore) operating in 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-2022.

Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 4211.76 Crore, up 4.37 % from last quarter Total Income of Rs 4035.38 Crore and up 11.97 % from last year same quarter Total Income of Rs 3761.56 Crore. Company has reported net profit after tax of Rs 603.01 Crore in latest quarter.

The company’s top management includes Mr.Dinesh Kumar Batra, Mr.Gokulan Bangakandy, Mr.Shivnath Yadav, Mr.Prafulla Kumar Choudhury, Dr.N Santhoshkumar, Mr.Mansukhbhai S Khachariya, Dr.Binoy Kumar Das, Dr.P V Parthasarathi, Mr.Anurag Bajpai, Mr.Bhanu Prakash Srivastava, Mr.M V Rajasekhar, Mr.Vinay Kumar Katyal, Mrs.Anandi Ramalingam, Mrs.Shyama Singh. Company has Suri & Co. as its auditors. As on 31-12-2022, the company has a total of 731 Crore shares outstanding.

Investment Rationale
Overall, expected double digit revenue, order inflow growth, sustained margins and strong order book to ensure better performance.