Bharat Electronics Ltd (BEL) shares surged 2.66 per cent on Thursday after the company secured a significant Rs 2,463 crore contract from the Indian Air Force (IAF) for the supply and services of Ashwini Radars. The stock was trading at Rs 284.10 apiece on BSE around 10 AM, up from its previous close of Rs 276.75.

In a stock exchange filing on March 12, BEL confirmed the contract signing with the Ministry of Defence. The deal involves advanced Active Electronically Scanned Array (AESA) radars, jointly developed by BEL and the Defence Research and Development Organisation (DRDO). These radars come with integrated Identification Friend or Foe (IFF) capabilities and 4D surveillance, allowing automatic detection and tracking of aerial targets, including fighter jets and slow-moving aircraft.

भारतीय वायु सेना से Bharat Electronics को मिला ऑर्डर

Bharat Electronics को ₹2463 Cr का ऑर्डर मिला

Ashwini Radars की सप्लाई का ऑर्डर मिला#BEL #IAF #StockInNews @BEL_CorpCom @AnuveshRath pic.twitter.com/bMICUaQY76

— Zee Business (@ZeeBusiness) March 12, 2025

This latest contract brings BEL’s total order inflow for the financial year to Rs 17,030 crore, reflecting strong demand for its defence solutions.

Earlier this week, BEL bagged additional orders worth Rs 843 crore, further expanding its order book. These contracts include RF seekers, radar upgrades, vessel and air traffic management systems, and electro-optic repair facilities. The growing order pipeline solidifies BEL’s leadership in defence electronics.

BEL reported a 47.3 per cent year-on-year (YoY) increase in its profit after tax (PAT) for Q3FY25, reaching Rs 1,316.06 crore. Revenue from operations stood at Rs 5,770.69 crore, up 38.6 per cent from Rs 4,162.16 crore in the corresponding quarter last year.

For the nine months ending December 2024, BEL recorded a turnover of Rs 14,173.68 crore, exceeding the Rs 11,484.92 crore reported in the previous year’s period.

According to Trendlyne data, the average target price for BEL stands at Rs 336, indicating a 22 per cent upside from current levels. The stock remains a ‘Buy’ for analysts, supported by its strong order book and growth potential in the defence sector.

With a market cap of Rs 2.07 lakh crore, BEL continues to play a crucial role in India’s defence ecosystem, positioning itself as a key supplier for the armed forces.