BEL / language trends

Read confidence between the lines.

Bharat Electronics · tone and specificity signals across the available quarters.

Research layer active

Language signals

What changed in management language.

Q1-FY25 · Manoj Jain

We would like to maintain the guidance we have given already in our previous con call, which will be 15%. So, revenue growth will be around 15% compared to last year.

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Q1-FY25 · Manoj Jain

If QRSAM comes, definitely it will be additional, around INR 20,000 crore-INR 25,000 crore.

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Q1-FY25 · Manoj Jain

The revenue growth of 15%, the EBITDA margin of 23%-25%, and order inflow of minimum INR 25,000 crore. So these three, definitely, we are giving further guidance or reassuring that we are going to achieve these targets in this year.

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Q1-FY26 · Manoj Jain

We are confident to get this order by February, March, as of now also. It may not slip to Q1 of next year. We are confident we may get in the Q4 of this year itself, QRSAM, because the progress looks really good for us, and DFC Approval already has come.

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Q1-FY26 · Manoj Jain

We are actually internally aiming for 17.5%+ growth. 16% is not at all a challenge.

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Q1-FY26 · Manoj Jain

We are confident we can give these cutting-edge technological solutions related to modern warfare without any support from foreign countries.

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Q2-FY25 · Manoj Jain

We are confident of achieving the target, guidance given of INR 25,000 crores for 2024-2025.

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Q2-FY25 · Manoj Jain

For next five years, we are bubbling with the leads and order books and other things. We are not having any issue for next five years.

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Q2-FY25 · Manoj Jain

We are confident next year will be definitely much more than what target we had set ourselves for this year.

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Q2-FY26 · Manoj Jain

We are confident we will definitely achieve more than INR 27,000 crore order receive in this financial year other than QRSAM.

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Q2-FY26 · Manoj Jain

EBITDA margins will remain more or less similar, and what guidance we have given, more than 27% EBITDA, we are confident to achieve by the year end.

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Q2-FY26 · Manoj Jain

We are the main system integrator for this [QRSAM], and BDL is our main strategic partner for missiles.

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Q3-FY25 · Manoj Jain

We are confident to achieve this INR 25,000 order inflow by the end of this financial year.

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Q3-FY25 · Manoj Jain

We are more than 90% sure as of today to get that deal in next financial year itself.

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Q3-FY25 · Manoj Jain

We are the leader in a complex high-end, high-energy, hard-kill and soft-kill-based solution which was originally designed by DRDO.

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Q3-FY26 · Manoj Jain

We are confident that we will achieve or exceed this guidance.

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Q3-FY26 · Manoj Jain

It is a very, very complex equation, let me tell you. It is not very easy to comprehend.

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Q3-FY26 · Manoj Jain

We are confident that we will be the strongest bidder for this program.

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Q4-FY25 · Manoj Jain

We want to not only meet your expectation, we want to exceed your expectation.

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Q4-FY25 · Manoj Jain

The thing is we are working for at least 20-25 years on all these technologies... First time it has been used in a war-like situation.

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Q4-FY25 · Manoj Jain

We do not see technology as a threat, we see a new technology always as an opportunity.

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