Q1 2025 Bharat Electronics Ltd Earnings Call Transcript
Key Points
- Bharat Electronics Ltd (BOM:500049) reported a turnover of INR4,105 crores for Q1 FY25, marking a 19.1% increase from the previous year.
- Profit before tax increased by 47.40% to INR1,037 crores compared to INR704 crores last year.
- Profit after tax rose by 46.21% to INR776.14 crores from INR530.84 crores in the previous year.
- EBITDA margin improved to 22.82% from 19.28% last year.
- The company has a robust order book position of INR76,705 crores as of July 1, 2024.
- Despite strong Q1 performance, the company maintains a conservative revenue growth guidance of 15% for the full year.
- Other expenses grew by about 30% year-on-year, partly due to increased provisions.
- Provision for liquidated damages (LD) increased significantly to INR132 crores from INR54 crores in the previous year.
- Gross margin guidance is set at 40% to 42%, lower than the current quarter's margin.
- The company faces challenges in component-level indigenization, which is progressing slowly and may take 5 to 10 years to achieve substantial results.
Ladies and gentlemen, good day, and welcome to the Bharat Electronics Limited Q1 FY25 earnings call hosted by Elara Securities Private Limited.
(Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Harshit Kapadia from Elara Securities. Thank you, and over to you, sir.
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Thanks, Shubangi. Good evening, everyone. On behalf of Elara Securities, we welcome you all for the Q1 FY25 conference call of Bharat Electronics Limited. I take this opportunity to welcome the management of Bharat Electronics represented by Shri Manoj Jain, Chairman and Managing Director; Shri Damodar Bhattad, Director Finance and CFO; Mr. Srinivas, Company Secretary, along with their team.
We will begin the call with a brief overview by the management followed by Q&A session. I'll now hand over the call to Manoj sir for his opening remarks. Over to you, sir.
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