Bharat Electronics Ltd (BEL) has secured ₹843 crore worth of fresh orders, adding to its growing order book for FY25, the company disclosed. This brings its total orders received in the current financial year to ₹14,567 crore.
The latest orders include RF seekers, vessel and air traffic management systems, radar upgradation, electro-optic repair facilities, spares, and services, reinforcing BEL’s position as a key defence supplier.
This follows its previous order win of ₹577 crore on March 6, which comprised airborne electronic warfare products, composite communication systems for submarines, Doppler weather radar, and train communication systems.
Despite BEL’s strong order inflows, its shares have corrected 18% from the recent peak of ₹340.50. However, global brokerages remain optimistic about its growth prospects.
Jefferies has a ‘Buy’ recommendation on the stock, with a price target of ₹325 per share, indicating a potential 19.4% upside. The PSU stock stock closed 1.71% lower at ₹272.25 on the BSE.
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BEL needs additional orders worth nearly ₹10,460 crore in March-April 2025 to meet its FY25 target of ₹25,000 crore.
Meanwhile, JPMorgan has reiterated its ‘Overweight’ rating with a ₹343 price target, arguing that the 20% correction from the peak presents an attractive entry point. The brokerage sees a high probability of BEL announcing ₹12,000 crore worth of orders by 31 March, which could act as a near-term catalyst for the stock.
Defence capex surge supports long-term outlook
The broader increase in global defence spending is expected to further benefit BEL, which remains one of the most diversified and consistent plays on India’s structural defence capex growth, according to JPMorgan.
Out of 26 analysts covering BEL, 23 have a ‘Buy’ recommendation, one rates it as ‘Hold’, while two have a ‘Sell’ rating.
With a strong pipeline of defence projects and potential large-scale orders expected in the coming weeks, BEL remains in focus as a key beneficiary of India’s push for self-reliance in defence manufacturing.
By auto_blogs