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📢 BEL Q3 FY25 Results – Key Insights & Analysis 🚀

Lesson 74/151 | Study Time: 10 Min

Course: Quarterly Result Updates & Analysis

📢 BEL Q3 FY25 Results – Key Insights & Analysis 🚀

Analysis of BEL Q3 FY25 Results

Financial results for Bharat Electronics Limited (BEL) for the quarter and nine months ending December 31, 2024:

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📢 BEL Q3 FY25 Results – Key Insights & Analysis 🚀

1️⃣ Consolidated Q3 FY25 Revenue Growth 📊

💰 Revenue (Q3 FY25): ₹5,77,069 lakhs (₹5,770.69 Cr) 📈
💰 Revenue (Q3 FY24): ₹4,16,216 lakhs (₹4,162.16 Cr)
📈 YoY Growth: +38.7% 🔥

✅ Strong revenue growth backed by robust order execution and increased defense spending.

2️⃣ Profit Margins: Q3 FY25 vs Q3 FY24 💹

💵 PAT (Q3 FY25): ₹1,31,160 lakhs (₹1,311.60 Cr) ✅
💵 PAT (Q3 FY24): ₹86,026 lakhs (₹860.26 Cr)
📊 PAT Growth YoY: +52.5% 🔥
💼 PBT (Q3 FY25): ₹1,74,362 lakhs (₹1,743.62 Cr)
💼 PBT (Q3 FY24): ₹1,13,195 lakhs (₹1,131.95 Cr)
📊 PBT Growth YoY: +54% 🚀

Profit Margins Comparison 📊

🏷 Margin Type	🔢 Q3 FY25	🔢 Q3 FY24	🔥 Change
📈 PBT Margin	30.2%	27.2%	+3%
💰 PAT Margin	22.7%	20.7%	+2%

✅ Better cost efficiency and operational leverage improved margins.

3️⃣ Consolidated Profit Growth for Q3 FY25 📈

💵 PAT (Q3 FY25): ₹1,31,160 lakhs (₹1,311.60 Cr)
💵 PAT (Q3 FY24): ₹86,026 lakhs (₹860.26 Cr)
📈 YoY Growth: +52.5% 🚀

📊 Key Profit Growth Drivers:

✅ Increased defense orders
✅ Operational efficiency & cost control
✅ Higher revenue & improved margins

4️⃣ Financial Ratios at CMP ₹278 📊

📌 Profitability Ratios 💹

📊 Ratio	🔢 Formula	📉 Value
📈 ROE (Return on Equity)	PAT / Equity	24-26% 🔥
📊 ROA (Return on Assets)	PAT / Total Assets	8-10% ✅
💵 EBITDA Margin	EBITDA / Revenue	30-32%

✔ High profitability showcasing strong business efficiency.

📌 Solvency Ratios 💳

🏦 Ratio	🔢 Formula	📉 Value
📉 Debt to Equity	Total Debt / Equity	< 0.1 (Very Low) ✅
💰 Interest Coverage	EBIT / Interest Expense	High (Low Debt) ✅

🔹 Low financial risk with minimal debt burden 🏦.

📌 Liquidity Ratios 💧

💼 Ratio	🔢 Formula	📉 Value
💰 Current Ratio	Current Assets / Liabilities	2.0 - 2.5 ✅
💸 Quick Ratio	(Current Assets - Inventory) / Liabilities	1.5 - 2.0 ✅

✔ Strong liquidity position, ensuring smooth operations and flexibility for future investments. 💼

📌 Valuation at CMP ₹278 💹

📊 Metric	🔢 Value
💰 Trail_EPS (Earnings Per Share)	₹6.82
📊 Trail_P/E Ratio	41x 🔥
📉 P/B Ratio	7.2x

💎 Premium valuation indicating market confidence in BEL’s long-term growth.

5️⃣ Near-Term & Long-Term Outlook 🔮

📌 Near-term (1-2 Quarters)

📌 🔹 Strong Order Book: ₹71,100 Cr as of Jan 1, 2025 📑
📌 ⚠️ Potential Risk: Any slowdown in government defense spending could impact revenue.
📌 💰 Q4 FY25 Expected Growth: Driven by strong execution & exports.

📌 Long-term (2-5 Years)

🔹 🚀 Beneficiary of ‘Make in India’
🔹 📡 Expansion into civilian & AI-based defense solutions
🔹 🌍 Export growth & strategic partnerships

✅ BEL remains a strong long-term investment opportunity.

🎯 Final Takeaways

✔ 📈 Strong Revenue Growth: +38.7% YoY 🔥
✔ 💰 Improved Profit Margins: +2% YoY ✅
✔ 🚀 Strong Profit Growth: +52.5% YoY 🔥
✔ 💼 Robust Financials: Low debt, strong solvency & liquidity 💵
✔ 📊 Valuation Premium: P/E at 41x (Market bullish on BEL’s prospects) Fair_PE should be near to 20.
✔ 📡 Positive Near-Term & Long-Term Outlook 🚀

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📢 Disclaimer & Disclosure Statement

Important Investor Advisory Notice

This research analysis is for informational purposes only and should not be considered as financial, investment, or legal advice. The information provided herein is based on publicly available financial reports, market data, and our analysis. Investors are advised to exercise caution and discretion before making any investment decisions.

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