BDL surges over 6% after securing a contract worth Rs 3,131.82 crore from the Indian Army

BDL surges over 6% after securing a contract worth Rs 3,131.82 crore from the Indian Army

by 5paisa Research Team Last Updated: 2022-02-03T12:52:21+05:30

With this order win, the company’s order book now stands at Rs 11,400 crore.

Bharat Dynamics Ltd, an Indian defence company engaged in manufacturing ammunitions and missile systems, announced last evening that it has inked a contract with the Indian Army for manufacturing and supplying Konkurs - M AntiTank Guided Missiles to the latter. This contract is worth Rs 3,131.82 crore and will be executed in three years.

About Konkurs-M:

Konkurs - M is a second-generation, mechanized infantry Anti-Tank Guided Missile.

Its key features are-

  • The missile can destroy armoured vehicles equipped with Explosive Reactive Armour.

  • It can be launched either from a BMP-II tank or from a ground launcher.

  • It has a range between 75 to 4000 meters with a flight time of 19 seconds.

BDL has undertaken the manufacturing of this missile under a license agreement with a Russian OEM (Original Equipment Manufacturer). The missile has been indigenized to a maximum extent and is being offered by BDL for export to friendly foreign countries.

To cater to the demand for this missile both in India as well as abroad, BDL has augmented its manufacturing capacity.

Looking at the company’s performance in Q2FY22, BDL’s net revenue went up by 102.7% YoY to Rs 486.54 crore. This growth was mainly an effect of the lower base of Q2FY21, during which the operations were adversely affected by the pandemic. The PBIDT (ex OI) went up by 25.56% YoY to Rs 66.14 crore, whereas the PAT for the quarter surged by 64.8% YoY to Rs 43.26 crore.

Reacting to this development, at 12.46 pm, the share price of Bharat Dynamics Ltd was trading at Rs 518.80, an increase of 6.44% from the previous day’s closing price of Rs 487.40 on BSE.

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