Bharat Electronics Secures Orders Worth Over Rs 500 Cr

Key Takeaways from Bharat Electronics Order Win:

• Bharat Electronics Limited (BEL) has secured additional orders worth over Rs 500 crores since September 11, 2024.
• The new orders include EMI shelters, annual maintenance contracts for Integrated Air Command and Control system nodes, and upgrades for gun systems.
• With these new contracts, BEL's total orders for the current financial year have reached Rs 7,689 crores.
• BEL is a Navratna Defence Public Sector Undertaking under the Government of India.

These major orders include various products and services such as EMI shelters, annual maintenance contracts for Integrated Air Command and Control system nodes, upgrades and spare parts for gun systems, as well as spares for radars and communication systems. 

With these new orders, BEL's total order accumulation for the current financial year has reached Rs 7,689 crores.

About Bharat Electronics Limited:

Bharat Electronics Limited (BEL) is a Navratna public sector company under the Ministry of Defence, Government of India. It produces advanced electronic products and systems for the Army, Navy, and Air Force. BEL has also expanded into areas such as homeland security, smart city solutions, e-governance, space electronics (including satellite integration), energy storage (like e-vehicle charging stations and solar products), network and cyber security, railway and metro solutions, airport solutions, Electronic Voting Machines, telecom products, night vision devices, medical electronics, composites, and software solutions.

Key Takeaways from ICICI Lombard Acquisition:

• ICICI Lombard has acquired a 0.08% stake in Axis Bank, totaling Rs 2.36 billion.
• The acquisition was completed on October 7, 2024, during market hours.
• The investment was made in cash and does not involve related party transactions.
• Axis Bank, founded in 1993, is the third-largest private bank in India, with a turnover of Rs 1,379.89 billion for 2023-24.

This acquisition is part of ICICI Lombard's regular business activities and does not involve any related party transactions. The purchase was made in cash during market hours on October 7, 2024.

Axis Bank, incorporated on December 3, 1993, is the third-largest private bank in India and provides a range of financial services across various sectors. The bank reported a turnover of Rs 1,379.89 billion for the financial year 2023-24.

About Axis Bank Limited:

Axis Bank is the third largest private sector bank in India, providing a wide range of financial services to various customer groups, including large and mid-sized companies, MSMEs, agriculture, and retail businesses. It began operations in 1994 as one of the first new generation private banks. The bank was established in 1993 with support from several organizations, including the Specified Undertaking of Unit Trust of India (SUUTI), Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC), and other insurance companies. Over time, the shareholding of Unit Trust of India was transferred to SUUTI, which was created in 2003. The other insurance companies have since been reclassified from promoters to public shareholders.

About ICICI Lombard General Insurance Company Limited:

ICICI Lombard General Insurance Company Limited is committed to creating a holistic and equitable society through its corporate social responsibility (CSR) initiatives. The company focuses on health, wellness, sports, and road safety, addressing the social, economic, and environmental needs of communities. Their projects are aligned with the United Nations Sustainable Development Goals and aim to improve the livelihoods of people, ensuring that they can lead meaningful lives.

Among its key initiatives is the "Ride to Safety" program, which promotes road safety awareness among two-wheeler riders, particularly targeting lower-middle-class families. The "Niranjali" program aims to provide safe drinking water in schools, while "Caring Hands," initiated in 2011, involves employee-led eye check-up camps for municipal school students. Additionally, ICICI Lombard is working to equip rural health centers with necessary medical equipment and has installed solar panels to promote renewable energy.

Key Takeaways from Servotech Power System’s Order Win: 

• Servotech Power Systems has received an additional order from the Nashik Municipal Corporation (NMC) for electric vehicle (EV) charging stations.
• This order follows an earlier contract to supply, commission, and construct 20 EV charging stations in the Nashik area.
• Servotech will handle the installation, supply, and maintenance of the EV charging stations throughout Nashik.
• The initiative strengthens Servotech's role in India's EV infrastructure growth and supports national sustainability objectives.

This follows a previous order in which Servotech was tasked with supplying, commissioning, and constructing 20 EV charging stations in the Nashik area.

Servotech will manage the installation, supply, and maintenance of the EV charging stations across Nashik, reinforcing its position as a key player in India’s EV infrastructure development and supporting national sustainability goals. 

About Servotech Power System Limited:

Servotech Power Systems began its journey in 2004 by introducing Sine-Wave inverters for both domestic and commercial use. Over the years, the company experienced significant growth, launching a range of products including LED lighting solutions, solar street lights, and solar-hybrid inverters. In 2017, Servotech made its debut on the National Stock Exchange (NSE), further solidifying its position in the market. In response to the COVID-19 pandemic, Servotech became a key provider of medical-grade equipment, including oxygen concentrators and UV-C disinfectant products. Through its commitment to quality and innovation, Servotech has established itself as a leader in the industry.

Servotech’s vision is to create world-class solutions that reduce the impact of energy consumption on the climate, aiming for net-zero emissions and a decrease in reliance on fossil fuels for future generations. Its mission focuses on revolutionizing energy consumption and conservation practices, providing advanced technological solutions, empowering its workforce through knowledge sharing, and contributing to the welfare of society and the environment. In 2023, Servotech expanded its EV charger business into the Middle East and Africa, marking a significant milestone in its growth trajectory.

Key Takeaways from Edelweiss Financial Services' NCD Issue:

• Himalaya Food International's net profit soared by 101% to Rs 2.05 crores in Q2 FY25, compared to Rs 1.02 crores in the same quarter last year.
• Sales for Q2 FY25 increased by 3.6% to Rs 11.28 crores, while six-month sales rose by 14.74% to Rs 22.02 crores compared to the previous year.
• Despite the sales growth, six-month revenue plummeted by 89.5% to Rs 2.26 crores, down from Rs 21.6 crores last year.
• Basic and diluted earnings per share for Q2 FY25 rose to Rs 0.35, up from Rs 0.18 a year ago, while for the six-month period, they increased to Rs 0.51 from Rs 0.27.

Sequentially, net income for the six month period rose 86.6% to Rs 2.93 crores, compared to Rs 1.57 crores last year.

The company’s sales for the second quarter FY25 rose slightly 3.6% to Rs 11.28 crores, up from Rs 10.89 crores a year earlier. Revenue reached Rs 11.44 crores compared to Rs 10.82 crores in the previous year. 

For the six-month period, sales totaled Rs 22.02 crores, up 14.74% compared to Rs 19.19 crores a year earlier. However, revenue for the period was Rs 2.26 crores, down 89.5% from Rs 21.6 crores in the previous year. 

The company EBITDA for the quarter ended September 2024 stood at Rs 3.47 crore, up 29.5% compared to Rs 2.68 crores it reported in the same quarter previous year.

Basic earnings per share for Q2 FY25 from continuing operations stood at Rs 0.35, compared to Rs s 0.18 a year ago, while diluted earnings per share from continuing operations was also Rs 0.35, up from Rs 0.18. 

For the six-month period, basic earnings per share from continuing operations was Rs 0.51, up from Rs 0.27 a year ago, and diluted earnings per share from continuing operations was also Rs 0.51, compared to Rs 0.27. 

About Himalaya Food International Limited: 

Himalaya Food International Limited is India's largest company for frozen and canned food, providing jobs for over 1,200 people directly and more than 1,000 through contract farming in developing areas. It was the first Indian food company to offer a wide range of products in the US market.

Himalaya operates two modern facilities in North and West India that are certified to ISO 22000 standards. They focus on producing 100% natural, vegetarian products without chemicals. The company preserves nutrition and freshness using quick chilling, freezing, and a retorting process, avoiding any chemical preservatives.