Bharat Electronics continued its gain on the bourses with a 3% jump on Wednesday, gaining 9% in the last 5 days.

What Happened: BEL reported a 34% year-on-year increase in net profit to ₹1,091.27 crore while its revenue came in at ₹4,583.41 crore, increasing by 14.8% from the previous year. The company's EBITDA came in at ₹1,399 crore, with an EBITDA margin of 30.4%. The net profit met analyst estimates while revenue was missed.

The company had an order book of ₹74,595 crore as it closed the September quarter. The order book in the June quarter stood at ₹76,705 crore.

Brokerage Views: Motilal Oswal kept a buy call with a target price of ₹360. The company’s results came ahead of the brokerage’s estimates driven by better-than-expected margin performance, the brokerage said. The company’s order inflow in the first half of FY25 stood at ₹7400 crore, Motilal Oswal noted.

The research firm expects the defence ordering to ramp up in the coming quarter and BEL to be a beneficiary of the same with a focus on naval, EW systems, artillery systems, platform orders, Kavach and exports.

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Motilal Oswal expect the company’s revenue to grow at 19% annual growth rate over FY24-27, powered by improved market share due to enhanced wallet share and improved indigenous offerings.

Antique also kept a “buy” call with a target price of ₹373. The company registered strong execution during the quarter with revenue booking of ₹4,580 crore, the research firm said. The brokerage firm said it likes BEL due to its robust order book position, strong order book pipeline, swift execution and consistent delivery of 20% plus margin.

Price Action: Shares of BEL rose 3.84% to ₹294.55  on Wednesday.

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