Navratna PSU, BEL shares rise over 2.5% after securing additional contract of Rs 843 crore

As the PSU company received further orders of Rs 843 crore on Monday, March 11, shares of Defence PSU Stock, Bharat Electronics Ltd., increased by more than 2% in early trading. "RF seekers, vessel and air traffic management systems, electro-optic repair facilities, radar upgrades, spares, services, etc." are among the major orders, the business stated in an exchange filing.

On the National Stock Exchange, BEL's shares were up 2.81% at Rs 278.45. Among the stocks that contributed the most to the 50-share index was this one.

The scrip has increased by 3.77% over the previous five trading sessions. The stock has been up 4.06% since February 11. With this contract, BEL has received a total of Rs 14,567 crore in orders for the current fiscal year.

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Dividend and Orderbook History:

The company had also announced an interim dividend of Rs 1.50 per share for FY25 on Monday and has fixed Tuesday, March 11, as its record date, and the dividend will be paid within 30 days of declaration. The annual dividend yield stood at 0.83%, while the quarterly dividend yield is at 0.57%.

The company’s overall order book stood at Rs 71,100 crore on January 1, 2025. The company had earlier guided for nearly Rs 25,000 crore worth of order inflow in FY25, out of which the company has just received orders worth Rs 13,724 crore.

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Financial Outlook:

The company achieved a turnover of Rs 5,643.25 crore, reflecting a growth of 36.97% in Q3 FY24 over the turnover of Rs 4,120.10 crore posted in the corresponding period of the previous year.

The standalone revenue from operations rose 39.14% to Rs 5,756.12 crore in the reporting quarter, compared to Rs 4,136.69 crore in the same period last fiscal year. The market capitalization is standing at Rs 2.02 lakh crore.

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