1:10 Split, Re 0.80 Dividend: Defence PSU Set To Mull Results, Shares Hit 52-Week High; Buy/Hold?

Large cap aerospace & defence sector company, Bharat Electronics Ltd (BEL) shares today hit fresh 52-week high. Current market price of Bharat Electronics share on BSE is Rs 324.10 per share with intraday gain of 2.13%. Bharat Electronics informed via its BSE filing on July 4 about its upcoming meeting of Board of Directors scheduled to be held as on July 29, 2024 to consider financial results the quarter ended 30th June, 2024. BEL shares offered investors eye-popping returns of 167% in last 1-year and gained 75% in last 6-months only. Bharat Electronics announced a final dividend of Re 0.80/- per equity share of Re 1/- each for FY 2023-24 and yet to fix the record date. Its market capitalisation stood at Rs 2,37,311.97 crore. BEL split the face value of its shares once since March 16, 2017. Bharat Electronics last split the face value of its shares from Rs 10 to Re 1 in 2017. BEL stock traded ex-split as on March 16, 2017. Check key details below:

BEL To Consider Financial Results On July 29: As per the BSE filing of BEL issued as on July 4, 2024, "Pursuant to regulation 29 of SEBI (LODR) Regulations, 2015, we wish to inform that a meeting of the Board of Directors of the Company is scheduled to be held on Monday, the 291h July, 2024 to consider and approve, inter alia, Unaudited Standalone & Consolidated Financial Results for the quarter ended 30th June, 2024."

BEL Share Performance & Return: Bharat Electronics shares offered 45% return in last 3-months, soared 167% in last 1-year, and offered stunning returns of 325% in last 2-years. BEL shares gave return of 444% in last 3-years. In last 5-years, the defence psu stock surged 799%. The 52-week high price of BEL shares on BSE is Rs 323.00 per share (as on 05/07/2024) and 52-week low price is Rs 121.95 per share (as on 06/07/2023).

Should You Buy or Hold BEL Shares? As per Prabhudas Lilladher latest report issued as on July 1, 2024, "With the robust order intake pace, company is well on its way to achieve ~Rs250bn order intake expectation set for FY25. Furthermore, we remain positive on BEL's long-term growth given their diversification into non-defence verticals and their focus on exports. The stock is currently trading at a PE of 50.4x/42.1x on the earnings of FY25/26E. We currently have a 'Hold' rating with tp of Rs290." BEL bagged order approximately Rs31.7 billion from Armoured Vehicles Nigam Ltd. Bharat Electronics also bagged miscellaneous small orders estimated at Rs4.8bn to supply Doppler Weather Radar, Classroom jammers, spares and services etc. YTD company has bagged orders worth Rs48bn, added Prabhudas Lilladher.

BEL Dividend: Board of BEL on May 27, 2024 declared a final dividend of Re 0.80 /- per equity share (80%) of Re 1/- each fully paid-up for the financial year 2023-24 subject to approval by the shareholders in the next Annual General Meeting of the Company.

Bharat Electronics Q4: BEL declared a 30% year-on-year surge in its consolidated net profit to Rs 1,797 crore for the quarter ended March 2024 as against the net profit of Rs 1382 crore declared in the corresponding quarter of last year. Revenue from operations of BEL zoomed 32% to Rs 8,564 crore for Q4 FY 2024 as against Rs 6479.12 crore for the corresponding quarter of last year.

For full FY24, BEL announced its profit after tax (PAT) at Rs 3,984.52 crore, up 33.5% as against the PAT of Rs 2,984.42 crore registered for FY23.

BEL Bonus History: BEL's last bonus issue was declared in 2022 in the ratio of 2:1. BEL shares hit ex-bonus on September 15, 2022. Prior to this, BEL announced bonus shares in 2017 in the proportion of 1:10 and in 2015 in the ratio of 2:1 proportion.

Bharat Electronics About: Established in 1954, BEL engages in manufacturing of specialised electronic equipment requirements of the Indian Defence Services. BEL produces a wide range of equipment for areas 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, according to its official website.

Disclaimer:

The stock has been picked from the brokerage report of Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.