Fundamental Analysis of Bharat Electronics Limited

Fundamental Analysis of Bharat Electronics Limited
Case Code: FINC211
Case Length: 15 Pages
Period: -
Pub Date: 2024
Teaching Note: Available
Price: Rs.400
Organization: Bharat Electronics Limited
Industry: Aerospace & Defense
Countries: India
Themes: Financial Analysis, Business Environment, Valuation
Fundamental Analysis of Bharat Electronics Limited
Abstract Case Intro 1 Case Intro 2 Excerpts

Abstract

Bharat Electronics Limited (BEL) is an Indian Government-owned aerospace and defense electronics company and is one of sixteen Public Sector Units under the Ministry of Defense, India. It has Navaratna status granted by the Government of India (GoI). As on March 31, 2023, the company had a market capitalization of Rs.713,070 mn and an order book worth Rs.606,900mn. The company’s share price which was less than Rs. 20 in May 2000 had increased by nearly 7 times to Rs 142 in September 2023 boosted by the increased spending of the Indian government on defense.

The case provides an in-depth analysis of the growing and dynamic Indian defense industry, which has just opened up for private players, while at the same time assessing the competitiveness of BEL. The information provided in the case allows for a comprehensive financial analysis of the company, comparing its financial position with that of its peers, and helps in assessing the attractiveness of investing in its shares given the already increased share price.

The case provides for an in-depth analysis of the dynamics of the Indian defense industry and the competitiveness of BEL. It also provides information for a comprehensive analysis of BEL’s financials in comparison to those of its peers.

Issues

The case is structured to achieve the following teaching objectives:

  • To provide holistic understanding of India’s defense sector
  • To conduct qualitative fundamental analysis in terms of PESTEL of India’s defense sector and SWOT analysis of BEL
  • To conduct quantitative analysis of liquidity, profitability, solvency, asset utilization efficiency and valuation of BEL

Contents

Keywords

Defense industry; Fundamental Analysis; Bharat Electronics Ltd; Financial Analysis; PESTEL Analysis; SWOT Analysis; Liquidity; Solvency; Profitability; Asset Utilization Efficiency; Valuation

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