Bharat Dynamics Ltd
Bharat Dynamics (BDL), is a Government of India Enterprise. It is engaged in the manufacturing of guided missiles and allied defence equipments # #.
Orderbook of around 8100 Crores (Jan'21) #
Recent orders:
- Konkurs-M ATGM worth Rs. 633 Cr #.
- Contract worth ₹ 1188 Cr for the supply of heavyweight torpedoes (Varunastra) to the Indian Navy. The delivery period is 42 months. #
- Export contract for the supply of one Shipset of Light Weight Torpedo (LWT-XP). The total value of the contract is $ 6.24 Mn and to be executed in 2020-21. #
- Export contract for LWT-XP on 12 Jul 2019 for the supply of two Shipset of Light Weight Torpedo (LWT-XP) & Associated Equipment. The total value of the contract is $ 14.33 Mn which is to be executed in 2020-21. #
- Market Cap ₹ 6,422 Cr.
- Current Price ₹ 350
- High / Low ₹ 482 / 145
- Stock P/E 20.9
- Book Value ₹ 137
- Dividend Yield 2.51 %
- ROCE 30.6 %
- ROE 21.9 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has been maintaining a healthy dividend payout of 28.49%
- Debtor days have improved from 54.58 to 39.90 days.
Cons
- The company has delivered a poor sales growth of 1.73% over past five years.
- Earnings include an other income of Rs.128.83 Cr.
Peer comparison
Sector: Capital Goods-Non Electrical Equipment Industry: Engineering
Quarterly Results
Figures in Rs. Crores
Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
2,021 | 548 | 606 | 1,038 | 877 | 492 | 659 | 509 | 1,435 | 31 | 277 | 459 | |
1,636 | 425 | 540 | 726 | 757 | 380 | 502 | 455 | 1,031 | 150 | 225 | 420 | |
Operating Profit | 385 | 124 | 66 | 312 | 120 | 112 | 158 | 53 | 405 | -119 | 52 | 40 |
OPM % | 19% | 23% | 11% | 30% | 14% | 23% | 24% | 10% | 28% | -377% | 19% | 9% |
Other Income | 30 | 22 | 24 | 33 | 57 | 25 | 25 | 33 | 32 | 31 | 11 | 55 |
Interest | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 |
Depreciation | 18 | 16 | 19 | 17 | 30 | 17 | 21 | 23 | 36 | 17 | 21 | 25 |
Profit before tax | 396 | 128 | 70 | 327 | 146 | 118 | 161 | 63 | 400 | -106 | 41 | 69 |
Tax % | 15% | 36% | 60% | 42% | 15% | 45% | 34% | 15% | 23% | 26% | 35% | 28% |
Net Profit | 337 | 82 | 28 | 188 | 124 | 66 | 106 | 53 | 310 | -78 | 26 | 49 |
EPS in Rs | 18.37 | 4.46 | 1.55 | 10.27 | 6.77 | 3.58 | 5.81 | 2.90 | 16.90 | -4.26 | 1.43 | 2.68 |
Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes |
Profit & Loss
Figures in Rs. Crores
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | TTM | |
---|---|---|---|---|---|---|---|
2,841 | 4,079 | 4,887 | 4,588 | 3,069 | 3,095 | 2,203 | |
2,564 | 3,564 | 4,317 | 3,919 | 2,446 | 2,367 | 1,825 | |
Operating Profit | 277 | 515 | 569 | 669 | 623 | 728 | 378 |
OPM % | 10% | 13% | 12% | 15% | 20% | 24% | 17% |
Other Income | 439 | 385 | 300 | 173 | 136 | 116 | 129 |
Interest | 5 | 5 | 4 | 4 | 5 | 5 | 4 |
Depreciation | 67 | 53 | 62 | 63 | 82 | 96 | 99 |
Profit before tax | 644 | 841 | 803 | 774 | 671 | 742 | 404 |
Tax % | 31% | 33% | 35% | 32% | 37% | 28% | |
Net Profit | 444 | 562 | 524 | 528 | 423 | 535 | 307 |
EPS in Rs | 3,856.96 | 5,750.08 | 4,288.89 | 28.82 | 23.06 | 29.18 | 16.75 |
Dividend Payout % | 19% | 30% | 30% | 25% | 30% | 30% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 2% |
3 Years: | -14% |
TTM: | -13% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 4% |
3 Years: | 1% |
TTM: | -12% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 28% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 25% |
3 Years: | 22% |
Last Year: | 22% |
Balance Sheet
Figures in Rs. Crores
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Sep 2020 | |
---|---|---|---|---|---|---|---|
115 | 98 | 122 | 183 | 183 | 183 | 183 | |
Reserves | 1,538 | 1,753 | 2,073 | 1,773 | 2,085 | 2,424 | 2,325 |
Borrowings | 0 | 4 | 4 | 4 | 5 | 15 | 8 |
6,759 | 7,786 | 6,208 | 4,697 | 3,250 | 3,128 | 3,409 | |
Total Liabilities | 8,412 | 9,641 | 8,407 | 6,657 | 5,523 | 5,750 | 5,926 |
518 | 697 | 757 | 868 | 957 | 932 | 906 | |
CWIP | 142 | 126 | 136 | 130 | 47 | 42 | 45 |
Investments | 3 | 3 | 3 | 239 | 4 | 4 | 4 |
7,749 | 8,815 | 7,511 | 5,420 | 4,516 | 4,771 | 4,971 | |
Total Assets | 8,412 | 9,641 | 8,407 | 6,657 | 5,523 | 5,750 | 5,926 |
Cash Flows
Figures in Rs. Crores
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | |
---|---|---|---|---|---|---|
-765 | 284 | -420 | -342 | 84 | 504 | |
239 | 149 | 3 | 1,047 | 170 | -33 | |
-72 | -324 | -166 | -769 | -268 | -191 | |
Net Cash Flow | -598 | 109 | -583 | -63 | -15 | 280 |
Ratios
Figures in Rs. Crores
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | |
---|---|---|---|---|---|---|
ROCE % | 48% | 40% | 37% | 32% | 31% | |
Debtor Days | 43 | 13 | 12 | 61 | 63 | 40 |
Inventory Turnover | 1.42 | 1.40 | 1.36 | 0.91 | 1.18 |
Documents
Add documentRecent announcements
- Unaudited Financial Results For The Quarter & Nine Months Ended 31.12.2021 . 12 Feb
- Announcement under Regulation 30 (LODR)-Press Release / Media Release 6 Feb
- Announcement under Regulation 30 (LODR)-Change in Directorate 2 Feb
- Board Meeting Intimation for Consider And Approve, Inter Alia, Unaudited Standalone Financial Results For The Quarter And Nine Months Ended 31St December 2020. 29 Jan
- Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011 25 Jan
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