Bharat Electronics: Growth, valuation tailwinds blow in favour of investors - Moneycontrol

The company’s order book is strong, margins are expected to improve, and better execution to increase revenue visibility

The Strategic Partnership policy for defence manufacturing has yet to see many takers. (File image)

PRO Only Highlights
-  Quarterly performance largely backed by improved realisations
-  Medium-term triggers China plus and protectionist measures for tyre industry
-  Valuations not inexpensive; but improved medium-term outlook

Highlights Easing execution issues lead to higher revenue growth Margins impacted marginally but expected to improve with cost pressure easing Strong order book and expected large inflow to support visibility Stocks valued at 20 times fiscal 2024 estimated earnings Though Bharat Electronics — a leader in defence electronics — has corrected in the last few days, the stock offers good opportunity. This is because the company has good revenue visibility, strong order inflows, expected improvement in margins, and a strong order book along with...

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