Bharat Dynamics shares rise 5% on Q4 earnings, final dividend

Shares of Bharat Dynamics rose over 5% in early deals on Friday after the aero space and defence firm reported a 89% year-on-year (YoY) rise in net profit in Q4. Net profit climbed to Rs 288.8 crore in the last quarter against a profit of Rs 152.8 crore. Revenue from operations climbed 7% to Rs 854.1 crore against Rs 798.3 crore in the year-ago period.

Shares of Bharat Dynamics climbed 5.34% to Rs 1629.40 on BSE. Market cap of the firm rose to Rs 57,550 crore. The defence stock opened higher at Rs 1621.65 on BSE. Total 0.75 lakh shares of the firm changed hands amounting to a turnover of Rs 13.18 crore on BSE. The stock climbed to its 52-week high of Rs 1650 on May 24, 2024 and fell to a 52-week low of Rs 450.50 on October 25, 2023.

Bharat Dynamics stock stands higher than the 10 day, 20-day, 30 day, 50-day, 100-day, 150 day and 200-day moving averages. The midcap stock has gained 186 per cent in one year and risen 82 per cent since the beginning of this year.

At the operating level, EBITDA rose 72.6% to Rs 316.5 crore in Q4 of this fiscal over Rs 183 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 37.1% in the reporting quarter versus 23% in the fourth quarter of FY23. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The board has recommended a final dividend of Rs 0.85 per share (face value of Rs 5 each) for the year ended March 31, 2024.

Bharat Dynamics is engaged in the manufacturing of missiles and allied defence equipments. The company provides majority of its goods and services to the Indian Armed forces and government of India.