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Maintain buy on Bharat Electronics with a target price of Rs 115: Analyst

While revenue was in line, the major disappointment was on the Ebitda margin, the brokerage said, adding the company’s order book remains strong.

ETMarkets.com|
Last Updated: Feb 06, 2020, 08.32 AM IST
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Motilal Oswal Securities has maintained its buy rating on Bharat Electronics in the long term with a target price of Rs 115. Shares of Bharat Electronics closed at Rs 87,up 2.7% while the BSE Sensex closed 353.28 points up (0.87%) at 41,142.66.

Company Financials


For the quarter ended 31-12-2019, the company has reported consolidated sales of Rs 2278.08 crore, down -14.47 % from last quarter Sales of Rs 2663.57 crore and down -14.83 % from last year same quarter sales of Rs 2674.89 crore. The company has reported net profit after tax of Rs 212.53 Crore in latest quarter.

The company’s top management includes Dr.Amit Sahai, Dr.Vijay Shankar Madan, Mr.K M Shivakumaran, Mr.Koshy Alexander, Mr.M V Gowtama, Mr.Mukka Harish Babu, Mr.Sunil Kumar Kohli, Mr.Surendra Singh Sirohi, Mr.V Mahesh, Mr.Vinay Kumar Katyal, Mrs.Anandi Ramalingam, Mrs.Shikha Gupta, Ms.J Manjula. Company has Suri & Co. as its auditors. As on 31-12-2019, the company has a total of 2,436,592,943 shares outstanding.

Investment Rationale

The third quarter earnings of the company were impacted by the weak operating performance. While revenue was in line, the major disappointment was on the Ebitda margin, the brokerage said, adding the company’s order book remains strong.
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