Bharat Electronics Ltd

Bharat Electron Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Bharat Electronics Ltd

₹ 91.6 1.38%
29 Mar - close price
bel-india.in BSE: 500049 NSE : BEL
About

BEL was established in 1954 in association with CSF, France (now, Thales), to meet the specialized electronic equipment requirements of the Indian Defence Services.
BEL is an Indian state-owned aerospace and defence company with about nine factories, and several regional offices in India. [1]

Key Points

High R&D [1]
BEL spend ~7% of turnover on R&D, one of the highest amongst defence PSUs.
78% of turnover from indigenous products.
90% of turnover from defence.
137 applications filed for IPRs

Website BSE NSE
  • Market Cap ₹ 66,980 Cr.
  • Current Price ₹ 91.6
  • High / Low ₹ 115 / 68.5
  • Stock P/E 24.3
  • Book Value ₹ 17.7
  • Dividend Yield 1.64 %
  • ROCE 27.1 %
  • ROE 20.5 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 43.2%

Cons

  • Promoter holding has decreased over last 3 years: -4.13%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Electronics Industry: Electronics - Components

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
2,278 5,817 1,676 3,195 2,320 6,917 1,649 3,678 3,702 6,340 3,141 3,962 4,153
1,921 4,323 1,530 2,568 1,864 4,937 1,579 2,814 2,872 4,762 2,618 3,093 3,290
Operating Profit 357 1,494 146 627 456 1,981 70 864 829 1,578 522 868 863
OPM % 16% 26% 9% 20% 20% 29% 4% 23% 22% 25% 17% 22% 21%
33 29 16 27 24 58 45 62 60 64 82 74 59
Interest 0 2 0 0 0 6 0 0 0 4 1 2 10
Depreciation 92 101 94 97 100 97 97 99 98 106 99 109 106
Profit before tax 298 1,420 68 558 380 1,936 18 826 791 1,531 504 831 806
Tax % 29% 27% 31% 29% 29% 30% 27% 26% 26% 25% 29% 26% 25%
Net Profit 223 1,047 54 399 278 1,368 24 625 596 1,155 366 624 614
EPS in Rs 0.30 1.43 0.07 0.55 0.38 1.87 0.03 0.85 0.82 1.58 0.50 0.85 0.84
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
5,740 5,914 6,273 6,518 7,093 7,354 8,656 10,401 12,164 12,968 14,109 15,368 17,595
4,724 5,280 5,604 5,593 5,913 5,961 6,864 8,361 9,255 10,209 10,895 12,024 13,764
Operating Profit 1,016 635 669 925 1,179 1,393 1,792 2,039 2,909 2,759 3,214 3,344 3,832
OPM % 18% 11% 11% 14% 17% 19% 21% 20% 24% 21% 23% 22% 22%
302 598 622 438 507 573 420 196 73 99 125 232 279
Interest 4 5 7 7 7 10 18 6 16 8 10 9 17
Depreciation 127 126 136 150 166 192 212 272 338 372 387 401 421
Profit before tax 1,188 1,103 1,147 1,206 1,513 1,764 1,983 1,957 2,628 2,478 2,942 3,166 3,672
Tax % 26% 23% 21% 21% 21% 24% 24% 28% 30% 28% 30% 26%
Net Profit 878 847 911 952 1,197 1,337 1,523 1,431 1,887 1,825 2,100 2,400 2,759
EPS in Rs 1.11 1.07 1.15 1.20 1.51 1.69 2.07 1.96 2.58 2.50 2.87 3.28 3.77
Dividend Payout % 20% 20% 20% 20% 20% 31% 33% 34% 44% 37% 46% 46%
Compounded Sales Growth
10 Years: 10%
5 Years: 12%
3 Years: 8%
TTM: 10%
Compounded Profit Growth
10 Years: 11%
5 Years: 9%
3 Years: 8%
TTM: 6%
Stock Price CAGR
10 Years: 23%
5 Years: 14%
3 Years: 55%
1 Year: 32%
Return on Equity
10 Years: 18%
5 Years: 20%
3 Years: 20%
Last Year: 21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
80 80 80 80 80 240 223 244 244 244 244 244 731
Reserves 5,070 5,822 6,407 7,140 8,037 9,006 7,512 7,772 8,968 9,828 10,816 12,042 12,200
1 1 1 0 25 28 64 80 34 8 3 53 0
8,179 9,138 8,367 7,760 7,587 9,330 9,800 10,868 11,575 14,271 18,430 21,574 20,547
Total Liabilities 13,329 15,041 14,855 14,980 15,729 18,605 17,600 18,965 20,821 24,351 29,492 33,912 33,478
505 530 600 695 1,073 1,232 1,501 1,839 2,298 2,713 2,652 2,675 3,326
CWIP 56 147 328 458 140 430 743 940 849 828 883 1,006 368
Investments 0 0 0 0 0 462 491 937 964 1,110 1,306 1,572 175
12,768 14,364 13,926 13,828 14,516 16,481 14,865 15,248 16,710 19,700 24,651 28,659 29,609
Total Assets 13,329 15,041 14,855 14,980 15,729 18,605 17,600 18,965 20,821 24,351 29,492 33,912 33,478

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
3,027 179 -1,539 -569 1,434 2,260 -61 -687 1,514 2,570 5,093 4,207
-1,004 -953 1,753 759 -839 -1,470 3,115 -6 -896 -649 -2,595 -4,872
-181 -239 -158 -213 -209 -318 -2,857 -1,202 -663 -1,061 -1,076 -1,078
Net Cash Flow 1,843 -1,014 56 -23 386 472 197 -1,895 -45 861 1,422 -1,742

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 185 168 196 233 196 185 184 176 161 189 170 145
Inventory Days 268 274 306 325 321 401 407 305 275 204 233 230
Days Payable 96 111 110 120 111 112 108 91 89 126 155 139
Cash Conversion Cycle 357 331 391 438 406 473 483 390 347 267 248 237
Working Capital Days -133 -113 16 89 53 10 63 126 134 119 47 4
ROCE % 25% 20% 18% 18% 20% 20% 23% 25% 30% 26% 28% 27%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
51.14 51.14 51.14 51.14 51.14 51.14 51.14 51.14 51.14 51.14 51.14 51.14
10.71 7.86 9.60 10.25 11.58 14.10 15.73 17.21 16.77 15.99 17.36 17.34
30.21 32.22 31.59 31.30 30.21 28.92 28.33 26.77 26.71 27.77 25.63 25.04
7.95 8.78 7.67 7.32 7.07 5.85 4.81 4.89 5.38 5.11 5.88 6.47

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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