Bharat Electronics Ltd (BEL) :

With focus on Make in India, particularly with relevance to defense manufacturing, BEL is in a sweet spot. Following are the highlights:

·         Best performing PSE in Defense sector.

·         Post Pokran nuclear test in 1998, the share price went down to Rs.25. Today it is Rs.3,363.

·         Few days back issued 2 bonus shares for every one share held. The ex bonus price is Rs.1100.

·         Turnover is Rs.6,695 Cr in FY 14-15 with PAT of Rs.1,167Cr and an EPS of Rs.145 on a equity base of Rs.80 Cr. The PE ratio is 23.

·         Order book is in excess of Rs.21,600 Cr.

·         Products include

o   Naval surveillance radar,

o   Air defence,

o   Radar warning receivers,

o   Many other defense related products

·         Spends 8% of its turnover on R&D

·         80% of its products are indigeneously made and 20% by JV with foreign OEMs.