Bharat Electronics Ltd (BEL) has reported a 4.6% increase in its consolidated net profit for the fourth quarter ended March 31, 2024, at Rs 1,052 crore, compared to Rs 1,006 crore in the same period last year. The state-owned defence electronics company's revenue from operations grew by 7.6% to Rs 6,842 crore from Rs 6,361 crore in the corresponding quarter of the previous fiscal.
Operational Performance
The company's earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 1,720 crore, registering a growth of 8.2% year-on-year. EBITDA margin improved marginally to 25.1% from 25% in the year-ago quarter. The order book position as on March 31, 2024, was robust at Rs 76,000 crore, providing strong revenue visibility for the coming years.
Segment-Wise Highlights
BEL's defence segment contributed the bulk of the revenue, with significant orders from the Indian Army, Navy, and Air Force. The non-defence segment, including exports and civilian products, also showed steady growth. The company has been focusing on indigenisation and technology upgrades to enhance its product portfolio.
Dividend and Outlook
The board of directors has recommended a final dividend of Rs 2.5 per share for the financial year 2023-24, subject to shareholder approval. BEL's management expressed confidence in sustaining growth momentum, backed by a strong order pipeline and government's focus on defence modernisation and 'Make in India' initiatives. The company expects to maintain its leadership position in the defence electronics space.
BEL's shares closed 1.2% higher on the BSE at Rs 285.45 ahead of the results announcement.
