BEL Q2FY23 PAT was flat at Rs623.74 crore as higher raw material costs offsets the sales growth impact

28 Oct 2022 , 09:19 AM

Bharat Electronics Ltd reported 7.71% growth in total revenues for the September 2022 quarter on consolidated basis at Rs3,962cr.

Revenue increase was 26.14% in sequential terms. The company is into defence electronics and defence systems manufacture and largely caters to the Indian defence establishment.

The company has benefited immensely from the decision of the government to create a positive list wherein the orders would only be farmed out to the domestic defence companies.

During the quarter, Bharat Electronics issued bonus shares in the ratio of 2:1 i.e. 2 shares for every 1 share of BEL held cum bonus.

Consolidated Profit after tax (PAT) for September 2022 quarter was absolutely flat at Rs623.74cr and it was up 70.58% on sequential basis.

The order book position of BEL as of the close of September 2022 stands at Rs52,975 crore, which is more than 4 times its annualized sales revenues.

The raw material costs spiked by 15% yoy at Rs2,251 crore due to supply chain constraints and a general spike in input costs. Net profit margins at 15.74% in Q2FY23 is lower compared to 16.98% in Q1FY22 but betters the 11.64% in Q1FY23.

Financial highlights for Sep-22 compared yoy and sequentially

	Bharat Electronics
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 3,961.59	₹ 3,678.05	7.71%	₹ 3,140.61	26.14%
Net Profit (Rs cr)	₹ 623.74	₹ 624.46	-0.12%	₹ 365.65	70.58%
Diluted EPS (Rs)	₹ 0.86	₹ 0.85		₹ 0.50
Net Margins	15.74%	16.98%		11.64%