Strong execution propels Bharat Electronics' Q1 earnings

Analysts raise earnings forecast for defence equipment major, but some also advise caution

Hamsini Karthik  |  Mumbai 

With gains of more than 15 per cent in the past six months and 45 per cent in a year, Bharat Electronics (or BEL) has cemented its position as a unique defence sector player. Therefore expectations, too, are high from the company. But, much to the Street’s surprise, June quarter (Q1) results published late on Monday not just outdid expectations by a huge margin, but also set a new benchmark for the company. Revenues at Rs 1,695 crore, is the best quarterly run-rate in recent times. Much of the revenue growth was helped by execution of key orders related to missiles and ...

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