• Source:JND
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BEL Shares Today:  Bharat Electronics Limited (BEL) shares surged up to 9 percent to hit a fresh high of Rs 283 on the NSE in Today's early trade. The company's strong fourth-quarter results fueled today's rally. The BEL has reported a 30.6 percent jump in net profit after tax (PAT) for the March quarter Q4FY24 -on-year (YoY) to Rs1,783 crore.

BEl stock rally

Shares of the state-owned defense company have been trading at a higher price for the sixth consecutive trading day and have risen 26% during this period. This surge in stock price helped BEL's market capitalization to surpass the Rs 2 trillion mark for the first time today. At 11:23 am, BEL was trading at Rs 278.30, up by 7.5 percent on NSE. 

Bharat Electronics Limited Q4 Result

During Q4FY24, BEL's revenue climbed 32.6 percent year-on-year and 106 percent quarter-on-quarter (Q-o-Q) to Rs8,564 crore. However, EBITDA margin decreased 156 basis points year-on-year and climbed 94 basis points quarter-on-quarter to 26.7 percent. Execution has considerably improved in Q4FY24 with revenue growth of around 33 percent YoY compared to 5 percent YoY in 9MFY24.

BEL is a leading aerospace and defense electronics company. It mainly manufactures advanced electronics products. The company offers a diverse range of products, including radars, missile systems, electronic warfare and avionics, anti-submarine warfare systems, electro-optics, homeland security solutions, and civilian products.

Overall, operating performance for FY2014 beat expectations, led by an unexpected EBITDA margin of 24.9 percent (compared to an estimated 23 percent). Meanwhile, revenue growth was largely in line with the nearly 4 percent year-on-year revenue growth in FY2014 (as the company had already reported provisional revenues for FY2014).