By – Sagar Shetty, Research Analyst, StoxBox
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BEL reported a strong financial performance during the quarter, registering growth on all fronts. The company did miss its revenue estimates but highlighted its strong operational capabilities by beating the street on the other two fronts. The enhanced margin was on account of lower gross expenses and some cuts in employee wages. The company’s robust surge in PAT and healthy order book further highlight the company’s resilience and demand in the market. We believe the management will likely increase its guidance on revenue and margins on the back of a better demand outlook as the government’s focus on domestic production drives significant investment in the sector. Thus, owing to its healthy leverage as a result of its market position, the company is likely to see healthy growth in its order book as we advance, which will further bolster its position in the market.
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