Bharat Dynamics sees good traction in export order but stock slips into the red soon

Shares of Bharat Dynamics rose 2 percent on positive commentary from the management, though the scrip soon slipped into the red. At 11:28 am, shares of the company were trading down 1 percent at Rs 1,082 on the BSE.

The company expects good traction in export orders going forward. The current export order book is at Rs 2,600 crore, P Radha Krishna, Director, Bharat Dynamics told CNBC-TV18.

The defence company aims to maintain exports at 10 percent of order book going ahead, he said.

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In the past two years, the company has seen an increase of 15-20 percent in revenue due to indeginisation. It expects revenue to cross Rs 3,200 crore in FY24, the management said.

Krishna sees working capital days at 240 which is likely to improve the product mix. He added that FY23 margin was impacted due to the product mix.

Considering the geopolitical uncertainty and the government’s focus Make in India initiative, defence companies have taken centre stage lately.

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