Bharat Electronics Limited

Renu Baid

IIFL Securities Limited

Dinesh Batra

Director (Finance) -Bharat

Damodar Bhattad

General Manager

Sreenivas

Company Secretary- Bharat

3064 Crore

eased to BHMAT£L£CrfiON/CS share about our Q1 performance. In the Q1 we have clocked turnover of 3064 Crores, which is a growth of 95% Y-o-Y, our profit before tax is at 578 Crores and profit after tax at 4

95%

about our Q1 performance. In the Q1 we have clocked turnover of 3064 Crores, which is a growth of 95% Y-o-Y, our profit before tax is at 578 Crores and profit after tax at 431 Crores and with these f

578 Crore

have clocked turnover of 3064 Crores, which is a growth of 95% Y-o-Y, our profit before tax is at 578 Crores and profit after tax at 431 Crores and with these figures we are maintaining our guidance of 15%

431 Crore

es, which is a growth of 95% Y-o-Y, our profit before tax is at 578 Crores and profit after tax at 431 Crores and with these figures we are maintaining our guidance of 15% growth on the annual basis FY 2022-

15%

ores and profit after tax at 431 Crores and with these figures we are maintaining our guidance of 15% growth on the annual basis FY 2022-23 and our EBITDA which we told from 21% to 23% and we are quit

21%

ining our guidance of 15% growth on the annual basis FY 2022-23 and our EBITDA which we told from 21% to 23% and we are quite hopeful of maintaining it around 23%. Our material consumption in the Q1

23%

ur guidance of 15% growth on the annual basis FY 2022-23 and our EBITDA which we told from 21% to 23% and we are quite hopeful of maintaining it around 23%. Our material consumption in the Q1 has com

61.95%

e quite hopeful of maintaining it around 23%. Our material consumption in the Q1 has come down to 61.95% from 64.95% from the corresponding quarter of previous year which is 3% down and which indicates

64.95%

ful of maintaining it around 23%. Our material consumption in the Q1 has come down to 61.95% from 64.95% from the corresponding quarter of previous year which is 3% down and which indicates what we told

3%

e Q1 has come down to 61.95% from 64.95% from the corresponding quarter of previous year which is 3% down and which indicates what we told that our attention is on the material consumption and we ar

200 BPS

hat we told that our attention is on the material consumption and we are quite hopeful to bring it 200 BPS points from the previous year which was at around 60% for the complete year and this year we are

60%

on and we are quite hopeful to bring it 200 BPS points from the previous year which was at around 60% for the complete year and this year we are quite hopeful to bring it down to 58 around. Our emplo

“BHARATRFCmON/CS Anandi Ramalingam: Yes we are still retaining the guidance of 18 to 19; in fact we are hoping that we will be able to touch 20000 Crores of order equation this year.”

“From civil side also some 500 Crores will be there minimum of 500 Crores this will still be maintained, so over and above the base whatever is the major order I have just listed above.”

“Anandi Ramalingam: No, it is not that see as I told you for the remaining projects also clear commitment we have not got as far as the semiconductors are concerned so wherever the semiconductor commitments have been received by us based on that we are giving a guidance of 15%.”

“Anandi Ramalingam: Yes it will be difficult for us to tell.”

“See finally even if we get the commitment we need to see whether we have the capacity, we have the SDUS which we will be able to handle them , so all these issues will be discussed as and when it comes through but there is a possibility that it can go up if all these issues are resolved but we also do not want to give some commitment or something which we are not very sure of.”

“Dinesh Batra: As you said 17900 around but we will be able to clock some 15% will be coming from the civil segment.”

“Today what I am saying out of 18000 Crores around the 15% will be coming in this year from the civil segment.”

“Palasamudram there was an issue of certain limitations being put up by the authority as they had brought it under the red zone and certain clarifications, etc., were required so those things discussions are going on and I am quite hopeful that now our building plans, etc., will be finalized after getting the clarification from the Andhra Pradesh Industrial Authorities and all other projects are underway, whatever capex we had planned.”

“Initially do not know the number that we take right now they may go in for some 60% of imported or 50% of indigenous that is not yet finalized the proportion is not yet finalized, the ratio is not finalized so post which we will be able to give you a firm indication of our contribution to LCA Mark 1A.”

“Anandi Ramalingam: Completely it will be produced in India.”

Moderator

6

Dinesh Batra

5

Amit Bhinde

5

Nitin Arora

3

Harshit Patel

3

Ankur Sharma

2

Abhijit Mitra

2

Venkatesh

2

Renu Baid

1

Ankur Sharma

Okay perfect. That is good to know. Madam second question would be on the order inflows. Clearly Q1 obviously has always been a weakest quarter the first half normally is a weakest quarter for us and it has always been more of a second half when we see a substantial pickup in ordering so if you could just highlight the mix of orders which you expect to book this year both the larger size and the regular radars and the smaller size, the optronics and the communication devices, etc., so just some colour there, which are some of the larger projects and some medium size projects which you think could come our way to kind of help us get to that 18000 to 19000 Crores number which we are targeting for this year? BHARATRFCmON/CS Anandi Ramalingam: Yes we are still retaining the guidance of 18 to 19; in fact we are hoping that we will be able to touch 20000 Crores of order equation this year. As of now I think around 850 Crores has been acquired by us and the major projects which we are likely

Ankur Sharma

Great. Just a last question. We see a big jump in other income so just trying to understand what is driving that jump is it more because of higher cash balances and therefore if you could also help us on the debtor and the receivable position itself on the balance sheet that is all from my side?

Dinesh Batra

You are very right we have higher cash balances so the interest income has gone up and now as interest rates are also firming up so we are getting good returns, also in my opening remark I told this Q1 we have received 78 Crores of special dividend from our associate company GEBE so these two are the reasons for the higher other income.

Amit Bhinde

Let me Sir ask you differently if I look at the 15% growth it implies only 6% growth for the balance 9 months of the three quarters of the year remaining so is that number suggesting some issue on the backlog some slow moving orders there? Anandi Ramalingam: No, it is not that see as I told you for the remaining projects also clear commitment we have not got as far as the semiconductors are concerned so wherever the semiconductor commitments have been received by us based on that we are giving a guidance of 15%.

Amit Bhinde

So that is what I was asking if you receive the commitment what could be the run rate could it be 20%, could it be 25%? Anandi Ramalingam: Yes it will be difficult for us to tell. See finally even if we get the commitment we need to see whether we have the capacity, we have the SDUS which we will be able to handle them , so all these issues will be discussed as and when it comes through but there is a possibility that it can go up if all these issues are resolved but we also do not want to give some commitment or something which we are not very sure of. Amit Bhinde: I was just asking what could be the civil revenue growth for the year? Dinesh Batra: As you said 17900 around but we will be able to clock some 15% will be coming from the civil segment.

Amit Bhinde

15% of revenue would be civil, so it would be a growth of 20%? BHARAT£l£Cr#ON/CS QUALITY. TECHNOLOGY. INNOVATION