Economic Times•Today at 06:53
Defence stocks set for mixed Q4; Nuvama bets on BEL, Solar Industries, and a smallcap pick
Listed defence sector companies are expected to deliver a mixed set of numbers in Q4FY26, despite robust order visibility and sustained inflows and a healthy pipeline where backlogs are no longer a constraint, Nuvama Institutional Equities said in a note. Solar Industries Nuvama expects healthy execution momentum, with revenue growth of 28% YoY, though the defence topline is likely to come in at Rs 900 crore, significantly below the Rs 3,000 crore guidance, primarily due to delays in Pinaka execution and geopolitical disruptions impacting defence supply chains. 4 lakh crore backlog is critical, the brokerage said, listing ongoing supply chain challenges, particularly focusing on the timely procurement of critical components.
