Bharat Electronics shares rise on signing contract worth ₹2,463 crore with Defence Ministry

Bharat Electronics in a stock exchange filing said that it has signed a contract with Ministry of Defence for supply and services of Ashwini Radars. "These fully indigenous AESA radars developed jointly by DRDO and BEL have integrated IFF with electronic scanning in azimuth and elevation and are capable of 4D surveillance," Bharat Electronics said.

"These mobile radars with advanced ECCM features are deployable on all terrains and can automatically detect and track aerial targets ranging from fighter aircrafts to slow moving targets," Bharat Electronics added.

With this order, Bharat Electronics has accumulated orders worth ₹17,030 crore in the current financial year.

Bharat Electronics shares have so far this year declined 5.56% outperforming the NIFTY50 index which has fallen 15%. The company in quarter ended December 2024 reported net profit of ₹1,316 crore, marking an increase of 47% from ₹893 crore in the same period last year.

Its revenue from operations jumped 39% to ₹5,756 crore from ₹4,137 crore in the year ago period.

Bharat Electronics' earnings before interest, taxes, depreciation and amortisation (EBITDA) also known as operating profit jumped 57.5% to ₹1,653 crore at the end of December quarter as against ₹1,050 crore in the year ago period. Its operating profit margin also known as EBITDA margin improved 330 basis points to 28.72% compared to 25.37% in the same period last year.

At the end of December quarter, the company’s order book stood at ₹71,100 crore.

As of 9:21 am, Bharat Electronics shares traded 1.99% higher at ₹282.25, outperforming the NIFTY50 index which was trading on a flat note.