Bharat Electronics shares order book status, stock hits new 52-wk high; check targets

Bharat Electronics Ltd updated markets about its recent order inflow status after the market hours Wednesday. The state-run defence major inched higher on Thursday to hit its new 52-week high, before turning flat. It will be replacing IndusInd Bank Ltd in the 30-share pack, which shall come into effect from June 30, 2025.

Bharat Electronics, a navratna defence public sector undertaking, has secured additional orders worth Rs.537 Crores since the last disclosure on 16 May 2025,said the company in its exchange filing. "Major orders received include communication equipment, advanced composite communication system for ship, jammers, software, simulator upgrades, spares, test rigs, services etc," it said.

Shares of Bharat Electronics gained nearly a per cent to Rs 393.60 on Thursday, hitting its 52-week high, commanding a total market capitalization close to Rs 2.9 lakh crore. The stock had settled at Rs 390.60 on Wednesday. The stock has gained nearly 25 per cent in the last one month.

Geojit Investments maintained a positive outlook on Bharat Electronics (BEL), supported by the government's strong emphasis on domestic manufacturing, the growing contribution of electronics in defense applications, BEL’s established market leadership, a robust order backlog, and a consistently healthy margin profile.

"BEL’s margin guidance appears achievable, supported by rising indigenous content. A strong order pipeline enhances the long-term outlook. We forecast earnings to grow at a 20 per cent CAGR over FY25–27E. Considering the upgrade in our earnings estimates and potential large order inflow in FY26, we value BEL at a P/E of 42 times FY27E EPS and maintain a 'but' with a target price of Rs 441," it said.

BEL reported a 18.4 per cent year-on-year (YoY) growth in its net profit at Rs 2,127 crore, with revenue rising 6.8 per cent YoY to Rs 9,149.6 crore in the March 2025 quarter. Ebitda increased 23.2 per cent YoY to Rs 2,816 crore with Ebitda margins expanding to 30.8 per cent for the reported quarter.

Anand Rathi expects BEL to see strong growth going forward due to many factors like moving towards self reliance in defense; robust pipeline and focus of exports by GoI; strong order inflow to drive the revenue growth; and Healthy profitability and return indicators. "We maintain a ‘buy’ rating on the stock with a revised target price of Rs 450," it said.

For short term, Axis Securities has a target price of Rs 425 on BEL in next 3-6 months. Management is optimistic about maintaining a minimum growth rate of 15 per cent annually over the next five years, driven by a strong order book and a growing defence budget, it said.