BEL Achieves Record Turnover in Excess of ₹ 12,500 Crores

Navratna Defence PSU Bharat Electronics Limited (BEL) posted a turnover in excess of Rs. 12,500 Crores (Provisional & Unaudited) during the Financial Year 2019-20. The company had a growth of 6% over the previous year’s turnover of Rs. 11,789 Crores.

BEL’s Order Book as on 1.4.2020 is Rs. 51,800 Crores. The year saw BEL securing significant orders worth Rs. 13,000 Crores. Some of the major orders acquired during the year are Akash (7 Sqdn), Coastal Surveillance Systems (CSS), Upgrade for EW system, Radars, AMCs for Radars & Weapon systems, Software Defined Radio (SDR), Sonars, Advanced Communication Systems, etc.

Some of the flagship projects executed during FY 2019-20 are Command & Control Systems, Thermal Imagers for tanks, Upgrade of communication system, Land Based EW systems, Weapon Repair Facility, Electronic Fuzes, various Radars, Smart City Projects, Delhi CCTV project, Schilka Upgrade, Avionics Package for LCA, Classroom Jammers, Real Time Information System for Railways and LRSAM.

BEL achieved Export sales of US$ 48.59 Million during FY 2019-20. Major products exported include Cable Looms, Coastal Surveillance System Spares, Radar, Compact Multi-Purpose Advanced Stabilization System (CoMPASS), Electro Mechanical parts, etc.

BEL’s Chairman & Managing Director, Mr M V Gowtama, said, “The global lockdown due to COVID-19 and the economic slowdown had some impact on BEL during the last month of the last quarter of FY 2019-20. Execution/acceptance of some of the major projects could not be completed due to Force Majeure which otherwise would have further contributed to BEL’s revenues during FY 2019-20 itself. However, BEL remained focused on enhancement of its capabilities and competitiveness through diversification, continuous modernisation, indigenisation and outsourcing to Indian industries with increased thrust on MSME sector. BEL has established its visibility and presence in the international markets through commencement of operations of its overseas offices at Vietnam, Myanmar, Sri Lanka, Oman, Singapore and United States as part of maximising its geo-strategic reach and increased global footprint.”

Shares of BHARAT ELECTRONICS LTD. was last trading in BSE at Rs.74.35 as compared to the previous close of Rs. 72.55. The total number of shares traded during the day was 293362 in over 1466 trades.

The stock hit an intraday high of Rs. 75.6 and intraday low of 72.6. The net turnover during the day was Rs. 21761444.

Source: Equity Bulls

Image Courtesy: Energyinfrapost