Bharat Electronics sets FY24 revenue target at ₹19,500-20,000 crore

Defence and aerospace major, Bharat Electronics (BEL) is targeting turnover of ₹19,500 - ₹20,000 crore in the current financial year 2024. Bhanu Prakash Srivastava, the Chairman and Managing Director told CNBC-TV18 that the revenue growth rate may be at the lower end of the guided 15-17%.

However, the company maintained gross margin guidance at 40-42% and earnings before interest, tax, depreciation, and amortisation (EBITDA) margin guidance at 21-23%.

Srivastava said BEL has secured orders worth ₹16,300 crore to date and will be able to exceed the ₹20,000 crore order inflow guidance.

However, there are some challenges in execution, he said, adding that some revenue may be deferred from the third quarter to the fourth quarter.

Shares of the Bengaluru-based company have gained close to 12% in a month versus gains of around 8.5% in Nifty 50.

The company's peers include Bharat Dynamics, Cochin Shipyard and Garden Reach Shipbuilders, and Hindustan Aeronautics from the defence pack.