BEL Q4: Beats street estimates, Strong order book position at Rs 60,690 crore

For FY23, revenue grew 15 percent to Rs 17,650 crore, while the management earlier guided for Rs 18,000 crore. EBITDA grew 22 percent to Rs 4,050 crore, while EBITDA margins expanded 133bps to 22.9 percent. Net profits are 28 percent higher at Rs 3,000 crore.

For FY23, order inflows are 6 percent higher at Rs 20,200 crore, while order book stands strong at Rs 60,690 crore, up 5.4 percent. Company has recommended a final dividend of Rs 0.60 per equity share (60 percent) of Rs 1 each fully paid-up for the financial year 2022-23.

Some of the major orders acquired during the year were Himashakti, Medium Power Radar (Arudhra), Air Defence Control & Reporting System (Akashteer), Lynx U2 systems, EW Suite for MLH Upgrade, DR118 for Su-30, Weapon Locating Radar (WLR), SARANG ESM etc. Some of the major projects executed during FY 2022-23 were Long-Range Surface-to-Air Missile (LRSAM) systems, Akash Missile Systems, SATCOM Network, Command & Control Systems, various Radars, Electronic Warfare Systems, Communication equipment, Coastal Surveillance System, Electro-optic Systems, Fire Control Systems, Home Land Security Systems, Smart City projects etc.

BEL achieved export sales of around $46.5 million during FY23 against the previous year’s export of $ 33.3 million registering a growth of 40 percent. Major products exported include Transmit & Receive (TR) Modules, Radar Warning Receiver (RWR), Control Cards, Link-II Systems, Compact Multi-Purpose Advanced Stabilisation System (CoMPASS), Low Band Receivers (LBREC), Medical Electronics etc. BEL has acquired export orders worth $ 75.66 million during FY23.

The stock ended flat in trade on May 19 before the results announcement and opened the trading session on May 22 with gains of 1 percent.