In This Article:
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Revenue: INR23,024 crores, a growth of 16.17% from the previous year.
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Profit Before Tax: INR7,090 crores, a growth of 32.91% from the previous year.
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Profit After Tax: INR5,288 crores, a growth of 31.55% from the previous year.
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EBITDA Margin: Increased to 29.39% from 25.22% last year.
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Earnings Per Share (EPS): INR7.23, up from INR5.50 last year.
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Order Book Position: INR71,650 crores as of the beginning of 2025.
Release Date: May 20, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Bharat Electronics Ltd (BOM:500049) reported a significant increase in turnover, reaching INR23,024 crores, marking a 16.17% growth compared to the previous year.
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The company's profit before tax rose by 32.91% to INR7,090 crores, and profit after tax increased by 31.55% to INR5,288 crores.
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EBITDA margin improved to 29.39% from 25.22% last year, indicating enhanced operational efficiency.
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The order book position is robust at INR71,650 crores, providing a strong pipeline for future growth.
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Bharat Electronics Ltd (BOM:500049) is actively involved in emergency procurement discussions, which could lead to substantial new orders in the near future.
Negative Points
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There is uncertainty regarding the timeline for receiving the QRSAM order, which may slip to the next fiscal year due to procedural challenges.
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The company's working capital position has been affected by a significant change in other liabilities, impacting net cash from operating activities.
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There are concerns about the execution pace of projects, with some orders potentially spilling over into the next fiscal year.
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The company's reliance on government orders means that any delays in government procurement processes could impact revenue realization.
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Despite a strong order book, the exact quantum of emergency procurement orders remains uncertain, which could affect short-term planning and execution.
Q & A Highlights
Q: Can you provide a ballpark figure for the emergency procurement orders expected this year, and any updates on large pipeline orders like QRSAM? A: It's early to provide exact figures for emergency procurement, but we expect a minimum of 8 to 10 line items. For QRSAM, we anticipate the order by February or March, possibly slipping to April or May. The QRSAM order is expected to be over INR30,000 crore, and we aim to secure it within this fiscal year.
Q: What is the expected order inflow for this year, considering the current geopolitical situation? A: We expect around INR30,000 crores from QRSAM and an additional INR27,000 crores from other orders, totaling over INR50,000 crores for the year. The QRSAM order is significant, and we are the production agency for it.