Bharat Dynamics sizzles after order win

Bharat Dynamics gained 2.35% to Rs 426.70 after the PSU defense company bagged an order of Rs 171 crore.

In an exchange filing on Wednesday, Bharat Dynamics said it signed a contract for design, development, manufacture, supply and support Of CMDS worth Rs 171 crore.

The order book position of the company as of 17 November 2021 stands at Rs 8991 crore. It received new orders of worth Rs 1,331 crore during the current financial year.

Bharat Dynamics (BDL) is the only company in India involved in manufacturing various types of missiles and underwater weapons for supply to the Indian Armed Forces and friendly foreign countries. The company also handles launchers, test equipment, refurbishment / life extension of missiles and counter measures systems for domestic as well as international market.

As of 30 September 2021, the Government of India held 74.93% stake in the company.

The company reported a 64.8% rise in standalone net profit to Rs 43.25 crore on a 102.7% increase in net sales to Rs 486.54 crore in Q2 FY22 over Q2 FY21.

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