Podcast
Questions and Answers
What is the primary purpose of the letter addressed to the Manager?
What is the primary purpose of the letter addressed to the Manager?
- To report financial earnings
- To request additional funding
- To invite investors to a conference
- To provide a transcript of a conference call (correct)
On what date was the conference call with investors held?
On what date was the conference call with investors held?
- 25.05.2024
- 24.05.2024
- 22.05.2024 (correct)
- 20.05.2024
What is the registered office location of Bharat Electronics Limited?
What is the registered office location of Bharat Electronics Limited?
- Dalai Street, Mumbai
- Outer Ring Road, Hyderabad
- Nagavara, Bangalore (correct)
- P J Towers, Delhi
Which government entity is Bharat Electronics Limited associated with?
Which government entity is Bharat Electronics Limited associated with?
What is the CIN number for Bharat Electronics Limited?
What is the CIN number for Bharat Electronics Limited?
What is the fax number provided in the letter?
What is the fax number provided in the letter?
What is the email address listed for contacting Bharat Electronics?
What is the email address listed for contacting Bharat Electronics?
Which of the following does NOT appear in the letter?
Which of the following does NOT appear in the letter?
What was the increased Profit After Tax (PAT) for the year?
What was the increased Profit After Tax (PAT) for the year?
What was the reported earnings per share for the previous year?
What was the reported earnings per share for the previous year?
What was the highest ever order book amount mentioned?
What was the highest ever order book amount mentioned?
What external event was mentioned as having an impact on turnover?
What external event was mentioned as having an impact on turnover?
What growth percentage was initially guided for turnover?
What growth percentage was initially guided for turnover?
What order acquisition is expected for the financial year 2024-2025?
What order acquisition is expected for the financial year 2024-2025?
Which quarter was severely impacted by external events?
Which quarter was severely impacted by external events?
What was the expected EBITDA range provided earlier?
What was the expected EBITDA range provided earlier?
What was the reported other expenses in Q4 according to the discussion?
What was the reported other expenses in Q4 according to the discussion?
How much provisioning was linked to the Integrated Air Command and Control System project?
How much provisioning was linked to the Integrated Air Command and Control System project?
Which factors contributed to the need for provisioning for the Integrated Air Command and Control System project?
Which factors contributed to the need for provisioning for the Integrated Air Command and Control System project?
What is the purpose of the Board of officers formed by the airport?
What is the purpose of the Board of officers formed by the airport?
What does Bhanu Srivastava express confidence in regarding the Integrated Air Command and Control System project?
What does Bhanu Srivastava express confidence in regarding the Integrated Air Command and Control System project?
If the provisioning amount is excluded, what would the other expenses approximate to in Q4?
If the provisioning amount is excluded, what would the other expenses approximate to in Q4?
What overarching issue is highlighted concerning the Integrated Air Command and Control System project?
What overarching issue is highlighted concerning the Integrated Air Command and Control System project?
What kind of project complications does Bhanu mention regarding the Integrated Air Command and Control System?
What kind of project complications does Bhanu mention regarding the Integrated Air Command and Control System?
What is the main purpose of the 175 acres of land committed near the defense corridor in Agra?
What is the main purpose of the 175 acres of land committed near the defense corridor in Agra?
What is the estimated annual investment for building new capacity and upgrading existing facilities?
What is the estimated annual investment for building new capacity and upgrading existing facilities?
Which facility is being upgraded to meet the latest technological requirements?
Which facility is being upgraded to meet the latest technological requirements?
What kind of orders is the Indian Navy finalizing related to BEL's supplies?
What kind of orders is the Indian Navy finalizing related to BEL's supplies?
What is the approximate total cost stated for the civil and electronic equipment supply in the project?
What is the approximate total cost stated for the civil and electronic equipment supply in the project?
What types of systems is BEL planning to supply for next-generation corvettes?
What types of systems is BEL planning to supply for next-generation corvettes?
How many nodes are completed for the underground section as mentioned?
How many nodes are completed for the underground section as mentioned?
Which of the following equipment is NOT mentioned as part of BEL's supplies for the Indian Navy?
Which of the following equipment is NOT mentioned as part of BEL's supplies for the Indian Navy?
How many types of equipment is BEL supplying for the P15B and P17 alpha?
How many types of equipment is BEL supplying for the P15B and P17 alpha?
What share of the total project cost is dedicated to electronic equipment supply?
What share of the total project cost is dedicated to electronic equipment supply?
What is the status of the overground nodes as discussed?
What is the status of the overground nodes as discussed?
What is one of the systems BEL is supplying for combat helicopters?
What is one of the systems BEL is supplying for combat helicopters?
How much has been provided for the IACCS project in total as discussed?
How much has been provided for the IACCS project in total as discussed?
What is the risk associated with the profit margin for the IACCS project?
What is the risk associated with the profit margin for the IACCS project?
What is the significance of the INR 230 crores mentioned by Bhanu Srivastava?
What is the significance of the INR 230 crores mentioned by Bhanu Srivastava?
What aspect of the IACCS project is highlighted as having a high component?
What aspect of the IACCS project is highlighted as having a high component?
What is the main focus of the P-75(I) submarine program?
What is the main focus of the P-75(I) submarine program?
Which two Indian shipyards are mentioned as involved in the P-75 additional submarine?
Which two Indian shipyards are mentioned as involved in the P-75 additional submarine?
What percentage of contract value has been typically received as derivative orders from larger projects?
What percentage of contract value has been typically received as derivative orders from larger projects?
What might the anticipated percentage of localization opportunities rise to in the future?
What might the anticipated percentage of localization opportunities rise to in the future?
What kind of systems are included in the submarine equipment mentioned for P-75(I)?
What kind of systems are included in the submarine equipment mentioned for P-75(I)?
What is being negotiated in relation to indigenization efforts for the P-75(I) program?
What is being negotiated in relation to indigenization efforts for the P-75(I) program?
What is the pipeline budget for radar and avionics for FY '26 mentioned?
What is the pipeline budget for radar and avionics for FY '26 mentioned?
What is the primary goal of the Government of India's Aatma Nirbhar policy as mentioned?
What is the primary goal of the Government of India's Aatma Nirbhar policy as mentioned?
Flashcards
Transcript of a Conference Call
Transcript of a Conference Call
A document that records the contents of a conference call, often including key discussions, questions, and answers. Used to communicate information to investors and analysts.
Conference Call
Conference Call
A meeting between a company and investors or analysts to discuss the company's performance, strategies, and outlook. Often conducted via conference call, allowing multiple participants to join remotely.
Transcript
Transcript
The detailed, official report that summarizes the contents of the conference call.
Investors
Investors
Signup and view all the flashcards
Analysts
Analysts
Signup and view all the flashcards
Financial Report
Financial Report
Signup and view all the flashcards
Registered Office
Registered Office
Signup and view all the flashcards
Corporate Identification Number (CIN)
Corporate Identification Number (CIN)
Signup and view all the flashcards
Turnover
Turnover
Signup and view all the flashcards
EBITDA
EBITDA
Signup and view all the flashcards
Order Book
Order Book
Signup and view all the flashcards
Earnings Per Share (EPS)
Earnings Per Share (EPS)
Signup and view all the flashcards
Order Acquisition
Order Acquisition
Signup and view all the flashcards
Financial Guidance
Financial Guidance
Signup and view all the flashcards
Order Intake
Order Intake
Signup and view all the flashcards
Bottom-Up Data Analysis
Bottom-Up Data Analysis
Signup and view all the flashcards
Provisioning
Provisioning
Signup and view all the flashcards
Integrated Air Command and Control System
Integrated Air Command and Control System
Signup and view all the flashcards
Customer-side Dependencies
Customer-side Dependencies
Signup and view all the flashcards
Scope Changes
Scope Changes
Signup and view all the flashcards
Contract Extension Approval Process
Contract Extension Approval Process
Signup and view all the flashcards
Ministry of Defence (MoD)
Ministry of Defence (MoD)
Signup and view all the flashcards
Capacity Expansion
Capacity Expansion
Signup and view all the flashcards
Capital Expenditures (Capex)
Capital Expenditures (Capex)
Signup and view all the flashcards
MRO Facility
MRO Facility
Signup and view all the flashcards
QRSAM
QRSAM
Signup and view all the flashcards
Missile System Manufacturing
Missile System Manufacturing
Signup and view all the flashcards
AESA Based Radar
AESA Based Radar
Signup and view all the flashcards
Defense Corridor
Defense Corridor
Signup and view all the flashcards
Capex
Capex
Signup and view all the flashcards
New Orders
New Orders
Signup and view all the flashcards
Naval Equipment
Naval Equipment
Signup and view all the flashcards
P-75(I) Submarine
P-75(I) Submarine
Signup and view all the flashcards
Indigenization
Indigenization
Signup and view all the flashcards
Atma Nirbhar
Atma Nirbhar
Signup and view all the flashcards
OEM
OEM
Signup and view all the flashcards
Negotiating Indigenous Content
Negotiating Indigenous Content
Signup and view all the flashcards
Integrated Air Command and Control System (IACCS)
Integrated Air Command and Control System (IACCS)
Signup and view all the flashcards
Total Project Cost of IACCS
Total Project Cost of IACCS
Signup and view all the flashcards
Annual Maintenance Contract (AMC)
Annual Maintenance Contract (AMC)
Signup and view all the flashcards
IACCS Node
IACCS Node
Signup and view all the flashcards
Site Acceptance Test
Site Acceptance Test
Signup and view all the flashcards
Study Notes
Bharat Electronics Limited Q4 FY'24 Earnings Conference Call
- Date: May 22, 2024
- Management: Bhanu Prakash Srivastava (Chairman & Managing Director), Damodar Bhattad (Director Finance & CFO), Sreenivas S (Company Secretary)
- Moderator: Amit Dixit (ICICI Securities)
- Key Financial Highlights (FY24):
- Turnover increased to INR19,819.93 crores (up 14.35% YoY from INR17,333 crores)
- Profit Before Tax (PBT) increased to INR5,335 crores (up 33.87% YoY)
- Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased to INR5,290 crores, a gain of 25.22% compared to previous year's figure of INR4,260 crores
- Profit after tax (PAT) increased to INR4,020 crores (up 33.68% YoY).
- Earnings per share (EPS) has been INR5.5 compared to previous year's INR4.11.
- Highest ever order-book (as on April 1, 2024) INR75,934 crores.
Conference Call Discussion Points
- Order Intake (FY25): Estimated order acquisition in the range of INR25,000 crores.
- Export Targets:
- $110 Million target this financial year
- Significant export order book of $400 million, with an expectation for another $200M+.
- Import Content:
- Target reduction in import content for fiscal 2025 – 2026 is dependent on product type and mix
- Significant indigenous components/products
- Gross Margin: 45% (Q4 FY24), sustainable trajectory; 23-25% EBITDA expected in FY25. Non-defense mix will remain approximately 15% of the total revenue
- Provisioning: Provisions made in line with contractual conditions, - Some may reverse in the future. Some higher provision happened in Q4 2024.
- Expansion:
- New facilities, including one for night-vision, and another for EW systems in Telangana and Andhra Pradesh (near Huderabad)
- Further expansion in Agra for missile systems and maintenance.
- The strategy is to build sufficient capacity for future demands
- QRSAM: Significant contract, but delivery and financial impact are expected to take place in 2025-2026.
- Employee Costs: Employee costs are expected to stay around 12%.
- Major Contracts:
- Indian Navy: Contracts expected for submarines and corvettes include sonar, communications, ship data networks, combat management systems, EW systems, radars, and SAMs.
- India Air Force: Payloads for combat helicopters and utility helicopters.
Other
- The conference call was recorded and the transcript is available on the company website, www.bel-india.in.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.