|
Bharat
Electronics hosted a conference call of May 22, 2024. In the conference call
the company was represented by Bhanu Prakash Srivastava, Chairman and Managing
Director; Damodar Bhattad S, Director Finance and CFO and Sreenivas S, Company
Secretary
Key
takeaways of the call
Orders
secured during FY2023-24 were worth around Rs 35000 crore and the order book as
on April 1, 2024 stood at Rs 76000 crore.
FY24
performance was impacted by Israel Hamas war and the company was able to recover
to large extent to post the growth. The company guided for 15-17% growth in
revenue for FY24 but ended up with a consolidated revenue growth of 14%.
Expect
revenue growth of 15% and EBITDA margin of about 23-25% for FY25.
Export
sales of around USD 92.98 Million during FY 2023-24, as against the previous
year’s export turnover of US$ 48.33 Million, registering a growth of 92%. Major products exported include Transmit &
Receive (TR) Modules, Compact Multi-Purpose Advanced Stabilisation System
(CoMPASS), Radar & Electronic Warfare Systems, Medical Electronics,
Communication equipment etc.
Export
order book as on April 1st, 2024 stands at USD 407 million, with export orders
acquired during the fiscal year amounting to USD 211 million. The company
expects an export revenue of USD 100-110 million for fy25.
Of
the FY24 revenue about 84% is defence and 16% non defence. The same mix ratio
is expected to continue in FY25 as well.
Notable
defence orders obtained during the year 2023-24 were Electronic Fuzes, EW
Systems, Communication Systems for naval warships, Fire Control Systems, Akash
Prime Weapon System, Radars, Sonars, Software Defined Radios, Night Vision
Devices, Tactical Communication Systems and other projects in Non-defence
sector.
For
2024-25 the order intake will be in the
range Rs 25000 crore and this not
factoring in the Quick reaction Surface to Air Missile (QRSAM) order, which is a
bid value order to the tune of Rs 20000 crore for Airforce and Army together.
Of
the order book about 90% is nominated orders.
|