Publish Date: 2024-04-02 18:17:54
The shares of one of many main Defence PSU corporations fell by 3.6 p.c to ₹1,708 per share on Tuesday’s early commerce after the corporate reported a weak turnover of 5.6 p.c decline on a year-on-year foundation.
At 12:20 p.m, Bharat Dynamics Ltd shares have been buying and selling at ₹1,716 per share, down 3.18 p.c from the earlier shut value on the nationwide inventory trade. The firm has a market capitalization of ₹31,464 crore.
As per the corporate’s trade submitting, In the fiscal yr ending March 2024, Bharat Dynamics Ltd (BDL) recorded a turnover of ₹2,350 crore, reflecting a decline of 5.6 p.c in comparison with the earlier yr’s ₹2,489.4 crore.
This lower is attributed to the present geopolitical tensions in Europe and the Middle East, which have disrupted the corporate’s provide chain. As of April 1, 2024, BDL’s order e-book stands at ₹19,468 crore.
Bharat Dynamics Limited (BDL) is a government-owned public-sector company in India. The firm is engaged within the manufacturing of guided missiles and allied defence gear.
As of January 31, 2024, the corporate’s export order place reached roughly ₹2,580 crores. Furthermore, the corporate secured new orders totaling ₹1,717 crores from April 2023 to January 2024. As of the identical date, the corporate’s complete Order Book amounted to ₹20,070 crores.
Trade receivables decreased by roughly 14%, dropping from ₹1,446 crores as of March 31, 2023, to ₹1,245 crores. Meanwhile, the corporate’s EBITDA witnessed a 100 foundation factors enchancment throughout Q3 on a year-on-year foundation and a cumulative enchancment of 200 foundation factors as much as Q3.
The firms’ gross margin confirmed an enhancement from 52% to 60% throughout the nine-month interval ending on December 31, 2023, in comparison with the earlier yr.
The firm’s financials skilled important progress, with income surging by 30% from ₹462 crores in Q3 FY23 to ₹602 crores in Q3 FY24. Concurrently, internet revenue soared by 61% from ₹84 crores to ₹135 crores throughout the identical interval.
Bharat Dynamics Limited shares have appreciated by 68% within the final six months and 74% within the final 12 months.
Written by Omkar Chitnis
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