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Bharat Dynamics must execute well
Mint Mumbai
|November 27, 2023
Defence stocks grabbed attention on Friday thanks to reports that the Defence Acquisitions Council is expected to give preliminary approval for three crucial projects amounting to ₹1.4 trillion at the end of this month.
Bharat Dynamics Ltd's shares closed 5% up. In any case, its prospects are on a better footing now. Worries about delayed execution despite a strong order book appear to have eased to an extent.
True, in the first half of FY24 (HIFY24), revenue fell by almost 26%, hurt by supply chain challenges. But in the September quarter (Q2FY24), Bharat Dynamics' revenues grew by 15% year-on-year to ₹610 crore after three straight quarters of revenue drop. Still, it must register an 81.5% growth in the second half to meet the full-year revenue target of ₹3,200 crore.
Dit verhaal komt uit de November 27, 2023-editie van Mint Mumbai.
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