Maiden Stock Split, 13Th Dividend On March 21: Buy Multibagger PSU, TP Rs 2010: ICICI Direct

Mid cap Miniratna status public sector undertaking Bharat Dynamics shares zoomed 0.69% intraday to settle at Rs 1668.00 per share on BSE. Meanwhile, brokerage firm ICICI Direct has buy call on Bharat Dynamics shares with target price of Rs 2010 apiece. If you buy Bharat Dynamics share now at current market price of Rs 1668.00, you can fetch likely return of 20.5%. Bharat Dynamics has informed via its BSE filing on March 5, 2024 to consider its maiden stock split and 13th dividend on March 21. The company has changed the record date for interim dividend to April 2, 2024 for the purpose of payment of interim dividend for financial year 2023-24, if announced by the Board of Directors. Check details below:

Bharat Dynamics To Consider Stock Split, Interim Dividend: As per the regulatory filing of the company dated March 5, 2024, "meeting of the Board of Directors of the Company is rescheduled to Thursday, 21st March 2024 inter-alia to consider and approve-

(a) Payment of Interim Dividend for the financial year 2023-24

(b) Sub-division / Split of Equity Shares of the company pursuant to the provisions of section 61(1)(d) of the Companies Act,2013.

Bharat Dynamics Revises Record Date For Interim Dividend: The BSE filing further stated, "Further, the Company has changed the "Record Date" to Tuesday, 02nd April 2024 for the purpose of payment of Interim Dividend on Equity Shares for the Financial Year 2023-24, if declared by the Board."

Bharat Dynamics Dividend History: Bharat Dynamics announced 12 dividends since September 18, 2018. In last 12 months, Bharat Dynamics announced an equity dividend amounting to Rs 1.20 per share. At the current share price of Rs 1668.00, Bharat Dynamics Ltd offers dividend yield of 0.07%.

Bharat Dynamics Shares Performance & Return: The 52-week high price of Bharat Dynamics shares on BSE is Rs 1984.40 apiece and 52-week low price is Rs 879.00 apiece, respectively. The company has a market capitalisation of Rs 30,571.31 crore. Bharat Dynamics shares declined 7.25% in last 1-week, soared 20% in last 3-months, gained 85% in last 1-year, and offered rally of 219% in last 2-years. In last 3-years, Bharat Dynamics stock surged 363% and rose 482% in last 5-years. Bharat Dynamics has a PE of 63.69, ROE of 14.13, and EPS (TTM) of 26.01, as per BSE data.

Bharat Dynamics Financials: The state-run company for the quarter ended December 31, 2023 announced its consolidated net profit at Rs 135 crore, up 61% YoY as against Rs 84 crore in the corresponding quarter of last year. Its revenue from operations surged 30% year-on-year (YoY) to Rs 602 crore for Q3 FY2024 as compared to Rs 462 crore in the same quarter of last fiscal. Its EBIDTA for the quarter under review zoomed by 32% to Rs 119 crore from Rs 90 crore in the last fiscal. Margin for Q3FY24 grew 19.8% against 19.5% in Q2FY24.

ICICI Direct Suggests Buy: According to the analyst, "We believe BDL is strongly placed to benefit from increasing capital outlay for indigenised defence platforms like missiles, torpedoes & Counter measure dispensing systems. We estimate revenue, EBITDA and PAT to grow at 29.4%, 41.4% and 46.9% CAGR respectively over FY23-26E. Valuation at 27.3x P/E on FY26E basis looks attractive given strong growth ahead led by multiple sectoral tailwinds. We recommend BUY on BDL with target price of ₹ 2010 per share (based on 33x FY26E EPS)."

Bharat Dynamics Ltd About: Headquartered in Hyderabad, Bharat Dynamics Limited (BDL), was incorporated on 16 July, 1970 as a Public Sector Undertaking under the Ministry of Defence, Government of India to be the manufacturing base for guided missile systems and allied equipment for the Indian Armed Forces. Since its inception, BDL has been working in collaboration with DRDO & foreign Original Equipment Manufacturers (OEMs) for manufacture and supply of various missiles and allied equipment to Indian Armed Forces.

Disclaimer:

The stock has been picked from the brokerage report of ICICI Direct. 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.