Bharat Electronics · Analyst questions, management answers, and the quality of the response where the ledger is available.
ConCallIQ research layer
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Questions audited
12
Answered directly
79%
Numeric claims
3
Consistency
mixed
Question ledger
Umesh Raut · Nomura
partialOverall margins, that is. Last year itself we had almost 27%. It is slightly better than that... As regards to gross margins, gross margins were better in the first quarter since the composition of product mix was more in-house manufacturing was there.
Umesh Raut · Nomura
directQRSAM... DFC Approval was given on 3rd July, 2025... confident to get this order by February, March... MFSTAR... hoping in the next three to six months we will get a considerable portion... Kusha... still in the developmental phase... order conversion will take minimum three to four years.
Amit Dixit · Goldman Sachs
directWe have got one order, developmental order from DRDO for that... main order is with, I think, if I'm not wrong, it is BEL and Astra Microwave... Right now, it is a prototype development jointly with DRDO.
Amit Dixit · Goldman Sachs
partialWe have received one or two orders already as part of emergency procurement... By next two months, we are expecting many more orders... they will be part of our INR 27,000+ crore of order books... We have already received more than INR 10,000 crore.
Amit Anwani · PL Capital
directWe only could register 5.19% growth... because of geopolitical situation, especially in Israel-Iran conflict, that affected our minimum INR 200+ crore of the revenue... Regarding these rare earth magnets, it is not affecting us directly.
Harshit Patel · Equirus Securities
directWe have got one Samaghat program. Already, the RFP has been issued to us... total order, I think, for Shatrughat from Samaghat put together will be around INR 6,500+ crore.
Harshit Patel · Equirus Securities
partialIn the total program per se, I think around 60-70% minimum indigenous content will be there... roughly you can assume around 70% indigenous content for the NGC program for BEL.
Atul Tiwari · JPMorgan
directCertainly, yes. 16% is not at all a challenge. We are actually internally aiming for 17.5%+ ... I do not see 16% or 17% will be a challenge for me. Definitely, it will not go below 15%.
Atul Tiwari · JPMorgan
evasivePresently, we have guided for a margin of 27% this year. We maintain that... Overall, for the current year, we maintain it at 27%.
Manish Ostwal · Nirmal Bang
directOur employee base was around 9,000... we will cross around 9,600+ ... Total, we put in R&D around 6.2% last time... this year also, we are expecting a bit more than that only. Between 6%-7% of our turnover.
Jyoti Gupta · Nirmal Bang
directWe are confident over a period of the next five years, we try to reach around 10% of our turnover through exports... Overall, I think we are planning around, you can assume around INR 1,000+ crore total put together for LCA and other helicopter programs of HAL.
Dipen Vakil · PhillipCapital
directLRSM program... around INR 5,000+ crore... Fusers is around INR 4,500+ crore... Akash Army... around INR 3,000 crore... BMP upgrade around INR 3,000 crore... Ashwini Arudhra Radar around INR 2,500 crore... top 10-12 programs itself consisting of around INR 35,000-INR 40,000 crore order book.
