Bharat Electronics Ltd. benchmarking: Performance to industry peers

Financial

	Bharat Electronics	Hindustan Aeron	Bharat Dynamics
Operational Metrics
Engineering & Capital Goods
Annualized Order Inflows	19000.0 Crs	n/a	1793.0 Crs
Unclassified
R&D as a % of Total Sales	6.39 %	8.25 %	n/a
Infrastructure
Order Book as a % of Sales	256.3 %	159.12 %	820.35 %
Financials
5 yr Average ROE	22.22 %	24.42 %	13.53 %
5yr average Equity Multiplier	2.45	2.95	2.55
5yr Average Asset Turnover Ratio	0.51	0.4	0.31
5yr Avg Net Profit Margin	17.87 %	21.71 %	17.53 %
Price to Book	14.36	7.15	11.54
P/E	51.92	32.18	83.95
5yr Avg Cash Conversion Cycle	148.45 Days	133.61 Days	57.51 Days
Inventory Days	123.39 Days	211.09 Days	160.09 Days
Days Receivable	126.76 Days	54.58 Days	62.02 Days
Days Payable	124.66 Days	105.72 Days	134.7 Days
5yr Average Interest Coverage Ratio	378.58	188.94	99.91
5yr Avg ROCE	28.1 %	19.07 %	11.73 %
5yr Avg Operating Profit Margin	23.78 %	26.67 %	19.42 %
5 yr average Debt to Equity	0.0	0.0	0.0
5yr CAGR Net Profit	20.45 %	20.84 %	16.35 %
5yr Average Return on Assets	9.28 %	8.36 %	5.37 %
Shareholdings
Promoter Holding	51.14 %	71.64 %	74.93 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	0.0	-0.01 %	0.0
Change in Mutual Fund Holding (3 Yrs)	-5.79 %	-3.03 %	-3.19 %

	Bharat Electronics	Hindustan Aeron	Bharat Dynamics
Product Wise Break-Up	Product Wise Break-Up Electronics 100.0 Repair & Overhaul Helicopters 0 Spares 0 0 Defense 0	Product Wise Break-Up Sale of Aircraft & Helicopters 24.08 Electronics 0 Spare Parts & Accessories 19.04 Repair & Overhaul Helicopters 51.3 Defense 0 Others 5.58	Product Wise Break-Up 0 Electronics 0 Spares 0 Repair & Overhaul Helicopters 0 Defence 100.0
Location Wise Break-Up	Location Wise Break-Up India 96.12 Rest of the World 3.88	Location Wise Break-Up Rest of the World 1.33 India 98.67	Location Wise Break-Up Rest of the World 0 India 96.0 Others 4.0
Verticals	Verticals Defence 89.76 Non-Defense 10.24	-	-