Multibagger defence PSU BEL surges over 9% after Q4 results, earns upgrade from Motilal

Two interim dividends totalling Rs 1.40 per share were also paid for the financial year by the company in the months of February and March 2024.

“In view of the ongoing conflicts in Israel, the company has analysed the existing contracts/agreements with companies based in Israel. In our opinion there is no material financial impact as at the date of the results,” said BEL in the filing to the exchanges.

Also read: F&O Radar:

Here’s how brokerages see the results:



Nomura remains positive on BEL as it expects the secular growth to sustain, driven by its market dominance and increased project sizes, as it further ascends the value chain as a system integrator. The firm estimates BEL is poised to demonstrate a PAT CAGR of 16% over FY23F-FY26F.

They have maintained a target price of Rs 300 with a ‘buy’ for the stock.



“We increase our estimates by 21%/32% to factor in the government’s continued measures for the defence sector and the company’s improving market share, better-than-expected gross margin, and working capital. We expect a CAGR of 19%/20%/22% in sales/EBITDA/PAT over FY24-26,” said domestic brokerage firm Motilal Oswal.

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