BEL shares jump 4%, hit 52-week high after Nuvama raises target price post strong Q4 results

Nuvama noted that BEL’s Q4 margins rose to 30.6% from 26.7% QoQ, surpassing Street expectations of 24.7%. The management has maintained its guidance of 15% revenue growth and 27% operating profit margin, reflecting continued optimism.

The brokerage believes BEL has more positive triggers than risks and sees further potential for a re-rating as the company continues to outperform its own and the Street’s profitability estimates. Nuvama added that the timely execution and sustainability of large orders in the pipeline, coupled with improved operational performance, are likely to support a re-rating.

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BEL reported an 18% YoY rise in net profit to Rs 2,127 crore for Q4FY25, compared with Rs 1,797 crore a year ago. Revenue from operations rose 7% to Rs 9,150 crore, up from Rs 8,564 crore in the same period last year.

The company’s total income increased to Rs 9,344.23 crores in the quarter under review from Rs 8,789.51 crore in the year-ago period.

On a sequential basis, PAT jumped 62% from Rs 1,312 crore in Q3FY25, while revenue surged 59% from Rs 5,771 crore. EBITDA grew 23.2% YoY to Rs 2,816 crore, with margins expanding to 30.8% from 26.7% a year earlier.

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BEL shares have rallied 48% in the past three months and are up 254% over the last two years. The company’s current market capitalisation stands at Rs 2,77,004 crore.

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