Overview
- BDL announced an emergency procurement order worth about ₹2,000 crore for Invar anti‑tank missiles for the Indian Army.
- Motilal Oswal reiterated a Buy rating and raised its 12‑month target to ₹2,000, implying roughly 32% upside based on Dec’27 earnings.
- The brokerage projects FY25–28 revenue, EBITDA and net profit CAGRs of 35%, 64% and 51%, supported by an order book of around ₹235 billion.
- Analysts cite a five‑year pipeline near ₹500 billion with about ₹200 billion targeted over the next two to three years, including prospects from QRSAM, Astra follow‑ons and VSHORADS.
- Shares closed near ₹1,516 on Thursday, down about 1.1% for the session but up roughly 34% in 2025, with risks flagged around defence‑budget priorities, procurement rules, contracts and supply chains.