Companies

BEL clocks turnover in excess of ₹12,500 cr

Anil Urs Bengaluru | Updated on April 01, 2020 Published on April 01, 2020

CMD says Covid-19, slowdown impacted last month of last quarter

 

 

Bharat Electronics Limited (BEL), a Bengaluru-based defence PSU, has posted a turnover of ₹12,500 crore (provisional and unaudited) for financial year 2019-20. The company registered a growth of 6 per cent over the previous year’s turnover of ₹11,789 crore.

BEL’s order book as on April 1 stood at ₹51,800 crore. The year saw the company securing significant orders worth ₹13,000 crore.

BEL achieved export sales of $48.59 million during FY2019-20. Major products exported include cable looms, coastal surveillance system spares, radars, Compact Multi-Purpose Advanced Stabilisation System (CoMPASS), and electro mechanical parts.

MV Gowtama, Chairman & Managing Director of BEL, 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.”

He further added, “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.”

Orders acquired

Some of the major orders acquired during the year are Akash (seven Sqdn), Coastal Surveillance Systems (CSS), Upgrade for EW system, radars, AMCs for radar and 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 ptackage for LCA, Classroom Jammers, real-ime information system for Railways and LRSAM.

Published on April 01, 2020

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