Bharat Electronics shares trade ex-bonus today. Key things to know

The company fixed September 16 as the record date for its bonus issue. “We wish to inform you that the company has fixed Friday, the 16th September, 2022 as the record date to determine the eligible Shareholders to receive bonus shares as approved in the 68th Annual General Meeting (AGM) of the company held on 30th August, 2022,” BEL said in a regulatory filing earlier this month. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

Last month, PSU Bharat Electronics declared a bonus issue of equity shares in the ratio of 2:1, which means that an investor will receive two bonus equity shares for every one equity share held in the company. The company’s board of directors decided issuance of bonus shares to the shareholders by capitalizing over ₹487 crore. 

Led by the government, Bharat Electronics primarily manufactures advanced electronic products for ground and aerospace applications. The company has a Navratna status by the Government of India. 

For the first quarter ended June 2022 (Q1 FY23), the company’s standalone net profit rose to ₹431 crore as against ₹11 crore recorded in the corresponding period of the previous year. Standalone turnover for the period stood at ₹3,063.5 crore against ₹1,564 crore in the same quarter last year. As of June 30, 2022, the company’s order book position is around ₹55,333 crore.

The company recently signed a memorandum of understanding (MoU) with UK-based Smiths Detection, for offering advanced, high-energy scanning systems to the Indian market. It had also signed MoU with NHPC Ltd for setting up a 1,000-megawatt solar manufacturing unit in India.

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