Is Bharat Electronics a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Bharat Electronics Ltd is a good quality company .

Is Bharat Electronics undervalued or overvalued?

The key valuation ratios of Bharat Electronics Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone .

What is Bharat Electronics share price return in the past 10 years?

Bharat Electronics Ltd share price has appreciated 29.7% annually (CAGR) over the past ten years.

Is Bharat Electronics a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Bharat Electronics Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

Bharat Electronics Ltd - Stock Valuation and Financial Performance

Name: Bharat Electronics
Brand: Bharat Electronics

BSE: 500049 | NSE: BEL | Engineering - Industrial Equipments | Large Cap

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Bharat Electronics Share Price

₹283.65 -6.95 -2.39%
as on 06-Sep'24 16:01

10 Year X-Ray of Bharat Electronics:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	19.7%	20.6%	24.7%	25.4%	32.2%	26.3%	28.5%	27.8%	31.3%	36%	-
Value Creation Index ⓘ	0.8	0.8	1.2	1.3	1.9	1.0	1.5	1.5	1.8	2.2	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	6,843	7,328	8,612	10,322	12,085	12,921	14,064	15,314	17,646	20,169	20,766
Sales YoY Gr.	-	7.1%	17.5%	19.9%	17.1%	6.9%	8.8%	8.9%	15.2%	14.3%	-
Adj EPS ⓘ	1.4	1.6	2	1.9	2.6	2.5	2.8	3.2	4.1	5.5	5.8
YoY Gr.	-	11.8%	26.7%	-7.4%	39.2%	-6.1%	12.2%	14.4%	29.3%	32.9%	-
BVPS (₹) ⓘ	10	11.3	10.2	10.6	12.3	13.5	14.8	16.4	18.6	22	23.1
Adj Net Profit ⓘ	1,143	1,272	1,501	1,378	1,921	1,805	2,025	2,319	3,000	3,982	4,269
Cash Flow from Ops. ⓘ	1,349	2,249	-97.4	-789	1,466	2,533	5,103	4,161	1,087	4,648	-
Debt/CF from Ops. ⓘ	0	0	-0.5	-0.1	0	0	0	0	0	0	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	12.8%	10.8%	12.8%	14.3%
Adj EPS ⓘ	15.9%	15.7%	25.3%	32.9%
BVPSⓘ	9.2%	12.3%	14.2%	18.4%
Share Price	29.7%	50.8%	62.8%	98%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	15.3	15.1	18.2	18.1	22.9	19.1	19.6	20.4	23.5	26.9	25.9
Op. Profit Mgn % ⓘ	16.7	18	19.6	16.9	22.5	19.5	22.4	21.5	22.4	23.9	25.4
Net Profit Mgn % ⓘ	16.7	17.4	17.4	13.4	15.9	14	14.4	15.2	17	19.7	20.6
Debt to Equity ⓘ	0	0	0	0	0	0	0	0	0	0	-
Working Cap Days ⓘ	543	443	384	429	442	463	474	470	442	412	265
Cash Conv. Cycle ⓘ	309	279	271	265	231	216	188	171	165	161	90

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 25.90%

Sales growth is growing at healthy rate in last 3 years 12.77%

Net Profit is growing at healthy rate in last 3 years 25.31%

Sales growth is good in last 4 quarters at 13.52%

No data to display

Latest Financials - Bharat Electronics Ltd.

	Standalone	Consolidated
TTM EPS (₹)	5.8	5.8
TTM Sales (₹ Cr.)	20,766	20,881
BVPS (₹.) ⓘ	23.1	23.4
Reserves (₹ Cr.) ⓘ	16,128	16,376
P/BV ⓘ	12.30	12.12
PE ⓘ	48.61	48.94

From the Market
52 Week Low / High (₹)	127.00 / 340.35
All Time Low / High (₹)	0.17 / 340.35
Market Cap (₹ Cr.)	2,07,342
Equity (₹ Cr.)	731
Face Value (₹)	1
Industry PE ⓘ	54.9

Management X-Ray of Bharat Electronics:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Bharat Electronics

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Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Bharat Electronics

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	6,843	7,328	8,612	10,322	12,085	12,921	14,064	15,314	17,646	20,169
Operating Expenses ⓘ	5,699	6,013	6,924	8,576	9,361	10,418	10,908	12,023	13,688	15,347
Manufacturing Costs	196	198	165	189	188	178	378	235	194	233
Material Costs	3,744	3,820	4,392	5,481	5,913	7,079	7,789	8,873	9,809	10,566
Employee Cost	1,263	1,257	1,548	1,772	1,879	2,057	1,941	2,109	2,298	2,467
Other Costs ⓘ	495	737	819	1,133	1,381	1,104	801	806	1,387	2,082
Operating Profit ⓘ	1,144	1,315	1,687	1,747	2,723	2,503	3,156	3,290	3,958	4,822
Operating Profit Margin (%)	16.7%	17.9%	19.6%	16.9%	22.5%	19.4%	22.4%	21.5%	22.4%	23.9%
Other Income ⓘ	483	597	550	457	311	333	155	256	453	936
Interest ⓘ	6	8	16	5	15	7	9	8	18	12
Depreciation ⓘ	154	172	192	251	316	350	366	380	408	412
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Profit Before Tax ⓘ	1,467	1,732	2,029	1,948	2,703	2,479	2,935	3,158	3,985	5,335
Tax ⓘ	299	425	482	549	776	685	869	809	978	1,315
Profit After Tax	1,167	1,307	1,548	1,399	1,927	1,794	2,065	2,349	3,007	4,020
PAT Margin (%)	17.1%	17.8%	18.0%	13.6%	15.9%	13.9%	14.7%	15.3%	17.0%	19.9%
Adjusted EPS (₹)	1.5	1.7	2.1	1.9	2.6	2.5	2.8	3.2	4.1	5.5
Dividend Payout Ratio (%)	20%	31%	32%	35%	43%	38%	47%	47%	44%	40%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	7,894	8,984	7,509	7,761	9,019	9,853	10,808	11,984	13,582	16,082
Share Capital ⓘ	80	240	223	244	244	244	244	244	731	731
Reserves ⓘ	7,814	8,744	7,285	7,517	8,775	9,609	10,564	11,741	12,851	15,351
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	0	0	17	33	0	0	0	0	0	0
Long Term Debt	0	0	17	33	0	0	0	0	0	0
Short Term Debt	0	0	0	0	0	0	0	0	0	0
Trade Payables	1,126	1,161	1,331	1,401	1,435	2,425	3,297	3,366	3,320	3,694
Others Liabilities ⓘ	7,686	7,518	7,768	8,896	9,538	11,136	14,485	17,479	17,649	18,805
Total Liabilities ⓘ	16,706	17,663	16,624	18,092	19,992	23,414	28,590	32,829	34,551	38,581
Fixed Assets
Gross Block	2,485	1,147	1,617	2,220	3,013	3,795	4,117	4,534	5,083	5,567
Accumulated Depreciation	1,714	170	362	613	929	1,275	1,638	2,010	2,411	2,808
Net Fixed Assetsⓘ	771	976	1,255	1,607	2,084	2,520	2,480	2,524	2,672	2,759
CWIP ⓘ	140	430	656	833	721	683	736	859	841	891
Investmentsⓘ	19	319	460	903	1,019	1,162	1,331	1,554	664	768
Inventories	3,369	4,132	4,856	4,551	4,414	3,910	4,915	5,540	6,406	7,408
Trade Receivables	3,786	3,712	4,355	5,050	5,369	6,733	6,552	6,103	7,022	7,362
Cash Equivalents	5,882	7,165	3,790	739	884	1,558	5,008	7,499	8,009	10,968
Others Assetsⓘ	2,739	929	1,252	4,409	5,500	6,849	7,567	8,750	8,936	8,426
Total Assets ⓘ	16,706	17,663	16,624	18,092	19,992	23,414	28,590	32,829	34,551	38,581

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	1,349	2,249	-97	-789	1,466	2,533	5,103	4,161	1,087	4,648
PBT ⓘ	1,467	1,732	2,029	1,948	2,703	2,479	2,935	3,158	3,985	5,335
Adjustment ⓘ	-163	-305	-332	108	309	320	441	256	750	964
Changes in Working Capital ⓘ	384	1251	-1163	-2193	-780	301	2260	1550	-2585	-238
Tax Paid ⓘ	-338	-429	-649	-677	-767	-568	-532	-802	-1,063	-1,413
Cash Flow From Investing Activity ⓘ	-842	-1,485	3,148	41	-854	-639	-2,569	-4,861	2,800	-5,889
Capex	-216	-652	-695	-778	-705	-726	-466	-546	-562	-642
Net Investments	-1,042	-1,237	3,526	678	-263	47	-2,161	-4,492	3,003	-5,757
Others ⓘ	415	405	317	141	115	41	58	178	359	511
Cash Flow From Financing Activityⓘ	-232	-316	-2,835	-1,201	-628	-1,059	-1,075	-1,077	-1,262	-1,474
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	0	0	50	17	-33	-25	-8	-47	0	0
Interest Paid ⓘ	-1	0	-12	-1	-12	-3	-6	-5	-15	-7
Dividend Paid ⓘ	-220	-296	-677	-819	-546	-979	-1,023	-1,023	-1,242	-1,462
Others ⓘ	-11	-20	-2,196	-397	-37	-52	-38	-2	-4	-6
Net Cash Flow ⓘ	275	448	216	-1,948	-16	834	1,459	-1,777	2,625	-2,715

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	15.65	15.49	18.77	18.33	22.97	19.01	19.99	20.61	23.52	27.1
ROCE (%)	19.74	20.62	24.73	25.38	32.21	26.29	28.49	27.78	31.32	36.04
Asset Turnover Ratio	0.42	0.45	0.53	0.6	0.63	0.6	0.54	0.5	0.52	0.55
PAT to CFO Conversion(x)	1.16	1.72	-0.06	-0.56	0.76	1.41	2.47	1.77	0.36	1.16
Working Capital Days
Receivable Days	211	178	161	165	157	171	172	151	136	130
Inventory Days	177	178	179	165	135	118	115	125	124	125
Payable Days	113	109	104	91	88	100	134	137	124	121

Bharat Electronics Ltd Stock News

Bharat Electronics Ltd FAQs

What is the share price of Bharat Electronics?

Company share prices are keep on changing according to the market conditions. The closing price of Bharat Electronics on 06-Sep-2024 16:01 is ₹283.6.

What is the market cap of Bharat Electronics?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 06-Sep-2024 16:01 the market cap of Bharat Electronics stood at ₹2,07,341.9.

What is the P/E ratio of Bharat Electronics?

The latest P/E ratio of Bharat Electronics as of 06-Sep-2024 16:01 is 48.61.

What is the P/B ratio of Bharat Electronics?

The latest P/B ratio of Bharat Electronics as of 06-Sep-2024 16:01 is 12.30.

What is the 52-week high and low of Bharat Electronics?

The 52-week high of Bharat Electronics is ₹340.4 and the 52-week low is ₹127.0.

What is the TTM revenue of Bharat Electronics?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Bharat Electronics is ₹20,766 ( Cr.) .

About Bharat Electronics Ltd

From humble beginnings in 1954, when Bharat Electronics (BEL) was set up in association with CSF, France (now, Thales), to manufacture basic communication equipment, the company now produces a wide range of state-of-the-art equipment in fields such as Defence Communication, Radars, Naval Systems, C4I Systems, Weapon Systems, Homeland Security, Telecom & Broadcast Systems, Electronic Warfare, Tank Electronics, Electro Optics, Professional Electronic Components and Solar Photovoltaic Systems, BEL also provides turnkey system solutions. Civilian products from BEL include Electronic Voting Machines, Tablet PC, solar-powered traffic signal systems and Access Control Systems.

Starting from a single Unit in Jalahalli, Bangalore, the company has established its presence across the country by setting up eight other Units - in Ghaziabad, Pune, Machilipatnam, Panchkula, Kotdwara, Navi Mumbai, Chennai and Hyderabad. Each Unit has a specific product mix and customer focus. The company has also set up a wide network of offices and service centres countrywide as well as two overseas offices – at New York and Singapore. The company was established to meet the specialized electronic equipment requirements of the Indian Defence Services. While this continues to be its prime focus, the company has a significant presence in the civilian market, too. It exports some of its products and services to a number of countries as well.

Business area of the company

The company is an Indian state-owned aerospace and defence company. It is owned by the Indian Government and primarily manufactures advanced electronic products for the Indian Armed.

Awards

2009-10:

Raksha Mantri's Awards for Import Substitution, Design Efforts, Innovation and Best Performing Division among DPSUs.
Dun & Bradstreet Corporate Award 2009 in the category of Electrical and Electronic Equipment sector.
Indian Semiconductor Association Technovation Award for the Best Electronic Product of the Year 2010 for the Pre-shower 32 Channel Silicon Strip Detector supplied to CERN, Geneva, for the Big Bang Experiment.
SCOPE's Commendation Certificate for R&D, Technology Development & Innovation for the year 2007-08.
Ghaziabad Unit won the International Safety Award for the 18th time from the British Safety Council, UK.

2010-11:

BEL received Raksha Mantri Awards in the categories of Best Performing Division, Import Substitution, Design Effort and Innovation for the year 2008-09.
BEL won the Gold trophy for SCOPE Meritorious Award for Corporate Governance for the year 2009-10.
BEL won the Gold prize in the Heavy Industries category of DNA-Dainik Bhaskar India Pride Award (2010) for ‘Excellence in PSUs’.
BEL won the ELCINA-EFY Award for Excellence in Quality (first prize) for the year 2010-11.
‘Gold Award’ for Advertisement & Appreciation for Corporate Film (Hindi) at the PRCI Annual Corporate Collateral Award (2011).

2011-12:

BEL received the Dun & Bradstreet-Rolta Corporate Award under the ‘Electrical and Electronic Equipment’ category for the year 2010.
BEL was conferred the PSE Excellence Award 2011 for R&D, Technology, Development & Innovation by the Department of Public Enterprises (DPE), Government of India, and Indian Chamber of Commerce in the Navratna category.
BEL won the Best Employer of Persons with Disabilities National Award for 2011.
BEL received the ‘Organization with Innovative Practices, 2012’ HR Leadership Award from the Institute of Public Enterprises.
BEL received the SCOPE Meritorious Award for R&D, Technology Development & Innovation for 2010-11; the SODET award for Technology Innovation - Gold Category and Broadcast Engineering Society Award for Disaster Warning System.

2012-13:

Businessworld International Business Award in the Electricals, Electronics & Machinery Category on May 28, 2012.
International Aerospace Awards on February 5, 2013. BEL received two awards--‘Most Influential Company of the Year’ and ‘Excellence in Exports’ at the second International Aerospace Awards organised by International Aerospace magazine.
Dun & Bradstreet-Rolta Corporate Award 2011 for the top Indian company in the Electrical & Electronic Equipment sector, on June 1, 2012.
Dalal Street ‘Most Efficient Navratna Manufacturing Unit’ Award at the 4th PSU Awards 2012 in March 2013.

2013-14:

BEL received the Raksha Mantri’s Awards for Excellence (2011-12) in four categories: ‘Best Performance in Exports’ (Institutional Award), ‘Indigenisation’ (Group/Individual Award), ‘Design Efforts’ and ‘Innovation’, on November 25, 2013.
Ghaziabad, Hyderabad, Machilipatnam and Navi Mumbai —won the ‘Strong Commitment to Excel’ recognition in the CII-EXIM Bank Award for Business Excellence.

2014-15:

Mentor Graphics Silicon India Leadership Award 2014 for ‘Best VLSI/Embedded Design in Defence/Aerospace Sector’.
SAP Award for Customer Excellence 2014.
SODET Gold Award for 2013-14 for ‘Technology Innovation’.

2015-16:

India Today PSU Awards: ‘Best Global Presence Award’, ‘Eco Friendly Award’ and ‘Best R&D Innovation Award.
Dun & Bradstreet ‘India’s Top PSUs Award 2015’, for the top Indian company in the Electrical & Electronic Equipment sector.
Digital India PSE of the Year Award at the 2nd IPSE Awards 2015 - India’s Public Sector Enterprises Awards for Excellence.
ELCINA-EFY Awards for Quality (1st prize in Large Scale category) and Exports (2nd prize in Large Scale category).

2016-17:

Dun & Bradstreet’s India’s Top PSU Award 2016 for Electricals & Electronics sector.
Dun & Bradstreet’s India’s Top 500 Company.
Governance Now PSU Award.
SAP Aerospace & Defence Award - Company of the Year.
First prize for Excellence in Suggestion Scheme Implementation for BEL’s Bangalore Complex.

2017-18:

Dun and Bradstreet India’s Top PSU Award 2017 in the Manufacturing: Medium and Light Engineering Sector category.
First prize in ‘Responsible Organisation Excellence Awards’ 2016-17 (PSU category) instituted by ASSOCHAM.
Six Raksha Mantri’s Awards for Excellence for the years 2014-15 and 2015-16: 2 awards for Indigenization; 2 awards for Design Effort; Best Performance in Export; Best Performing Division.

2019-20:

‘Governance Now’ Awards for Research & Innovation, HR Excellence and Geo-Strategic Reach.
Indian Chamber of Commerce (ICC) PSE Excellence Awards for ‘R&D Excellence’, ‘Operational Performance Excellence’ and ‘Human Resources Management Excellence’.
Business World Digital India Award for ‘Best Initiative in Transport and Mobility’ in the Government sector for ‘SWAGAT’, the Automatic Fare Collection Gating System jointly developed by BEL & Centre for Development of Advanced Computing (CDAC).

Major events and milestones:

2017: BEL Achieves Turnover of Rs 8,800 crore.
2018: BEL signs MoU with L&T.
2018: Eight new products were launched at stall at DEFEXPO 2018.
2018: BEL achieves landmark turnover of more than Rs 10,000 crore.
2018: BEL signs MoU with Mahindra Defence Systems.
2018: BEL signs MoU with Mahindra Defence Systems.
2018: BEL order book crosses Rs 50K Cr mark.
2019: BEL signs MoU with Bharat Forge.
2019: BEL signs MoU with Elettronica SpA (ELT).
2019: BEL receives Export Order for $33 Million.
2019: BEL signs MoU with JSR Dynamics for manufacture and sale of Glide Weapons and Light Weight Cruise missiles.
2019: BEL signs Teaming Agreement with Hughes India for Helicopter Satcom Solutions.
2019: BEL launches Atmospheric Water Generator Safe Drinking Water, Straight from the Air.
2019: BEL, Elbit Systems sign TCA for Helmet Mounted Display System.
2019: BEL inks MoU with TEL for growth in ammunition business.
2020: BEL signs MoU with RailTel.
2020: BEL signs MoU with Sigtech Wireless Technologies.
2020: OFB signs MoU with BEL.
2020: BEL signs MoU with Newspace & Research Technologies.
2020: BEL and Tech Mahindra Collaborate to Design and Build Cutting Edge Digital Solutions for Aerospace & Defence.
2020: BEL inks contract with MoD for Coastal Surveillance System, Phase-II.
2020: BEL signs MoU with Indian Institute of Technology Madras (IITM).
2020: BEL signs tripartite MoU with Elbit and GRSE for Unmanned Surface Vessels.
2020: BEL achieves record turnover in excess of Rs 12,500 crore.
2020: AAI, BEL sign MoU for co-operation in Civil Aviation industry.