ECONOMY

Bharat Electronics Annual Report Analysis – Entering A New Orbit: Dolat Capital

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Bharat Electronics Ltd.’s Annual Report 2021 analysis indicates that FY22 guidance (sales growth of 15 -17%) is very much realistic in nature as the company has contracts worth ~Rs 186 billion to be executed within a year, which is 12 -14% higher than sales guidance of Rs 162 -165 billion.

Notably, it has achieved execution of Rs 141 billion / Rs 130 billion in FY21 / FY20 versus targeted value Rs 162 billion / Rs 131 billion.

Covid-19 disruptions resulted into ~15% miss during FY21.

Ramp up of non -defense opportunities, exports, improved share of high margin service business and growth opportunity for Bharat Electronics from private sector forays into defense are all medium term catalysts.

Click on the attachment to read the full report:

Dolat Capital Bharat Electonics Annual Report Analysis.pdf

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