Bharat Electronics shares fall over 6% after missing FY25 order inflow guidance; analysts remain bullish

Nifty 50 constituent and state-run Bharat Electronics Ltd. (BEL) fell over 5% on Wednesday, April 2, after the company missed its order inflow guidance for financial year 2025. However, its revenue growth for the financial year was higher than what the company had anticipated. Most brokerages tracking the stock also remain optimistic on its prospects.

In an exchange filing on Tuesday, April 1, BEL said that it has received orders worth ₹18,715 crore during financial year 2025, which is lower than the company's projections of ₹25,000 crore.

BEL also reported an overall turnover of ₹23,000 crore (provisional), which is 16% higher than the turnover reported in financial year 2024, which stood at ₹19,820 crore. The company had projected a 15% revenue growth for the current financial year.

The sales figures for the year, include export sales of close to $106 million, which is a 14% growth, compared to $92.98 million worth of exports in financial year 2026.

Some of the major orders received during the year, include the BMP II Upgrade, Ashwini Radar, Software Defined Radios, Data Link, Multi-Function Radars, EON 51, among other projects in the non-defence sector as well.

With this, BEL's total order book as of April 1, 2025 stood at ₹71,650 crore, which also includes an export order book of $359 million.

"BEL has rolled out strategies to maximise its global outreach and footprint in the international market during the coming years. All these efforts will help BEL retain its market leadership position in the strategic electronics sectors," Manoj Jain, Chairman and Managing Director of BEL was quoted as saying.

Despite the guidance miss, 25 out of the 28 analysts having coverage on Bharat Electronics have a "buy" recommendation on the stock, while two of them have a "sell" rating. Macquarie still has an "outperform" rating on the stock with a price target of ₹350, while Kotak Institutional Equities has a "sell" rating with a price target of ₹260.

BEL shares had ended at the day's low on Tuesday post the announcement and are currently trading 5% lower at ₹277.3.