Buy Bharat Electronics, target price Rs 250: ICICI Direct

ICICI Direct has buy call on Bharat Electronics with a target price of Rs 250. The current market price of Bharat Electronics Ltd. is Rs 204.2.

Time period given by analyst is 12-18 months when Bharat Electronics Ltd. price can reach defined target.
Bharat Electronics Ltd., incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 49816.14 Crore) operating in Defence sector.


Bharat Electronics Ltd. key Products/Revenue Segments include Electronic Components & Equipments, Sale of services, Other Operating Revenue, Rent and Scrap for the year ending 31-Mar-2020.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1693.98 Crore, down -75.71 % from last quarter Total Income of Rs 6974.98 Crore and up .11 % from last year same quarter Total Income of Rs 1692.07 Crore. Company reported net profit after tax of Rs 13.05 Crore in latest quarter.

Investment Rationale
Overall, expected double digit revenue, order inflow growth, sustained margins and strong order book to ensure a better performance. The brokerage remains long term positive and retain BUY rating on the stock

Promoter/FII Holdings
Promoters held 51.1 per cent stake in the company as of June 30, 2021, while FIIs held 14.1 per cent, DIIs 28.9 per cent and public and others 5.9 per cent.