Navratna Defence PSU Bharat Electronics Ltd (BEL) has achieved a turnover of around ₹19700 crore, during FY23-24, against the previous year’s turnover of ₹17,333 crore, registering a growth of 13.65 per cent.
In the fiscal year 2023-24, BEL secured orders worth around ₹35000 crore. Among the notable defense orders obtained during the year were Electronic Fuzes, EW Systems, Communication Systems for naval warships, Fire Control Systems, Akash Prime Weapon System, Radars, Sonars, Software Defined Radios, Night Vision Devices, Tactical Communication Systems and other projects in non-defence sector. With this, the total order book of BEL as on April 1st, 2024, stands at around ₹76000 crore.
Export surge
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“Exports have also grown significantly as compared to the previous year, a testimony to the all-out efforts made by the company to expand its global footprints and contribute to the MoD’s vision of maximising Defence exports,” said Bhanu Prakash Srivastava, Chairman and Managing Director, BEL.
“Research and development continues to be a major thrust area as focus is on in-house R&D efforts and collaborations with DRDO, academia and industry partners. BEL is in sync with the government’s ‘Make in India’ initiative as indigenisation, procurement from MSMEs and GeM continue to top our priority list. BEL will continue to explore new growth opportunities through export initiatives, diversification, capability enhancement, competitiveness and modernisation,” he added.
BEL also recorded export sales of around $92.98 million during FY23-24, as against the previous year’s export turnover of $48.33 million, registering a growth of 92 per cent. Major products exported include Transmit & Receive (TR) Modules, Compact Multi-Purpose Advanced Stabilisation System (CoMPASS), Radar & Electronic Warfare Systems, Medical Electronics, Communication equipment, among others.
As on April 1st, 2024, BEL’s export order book stands at $407 million, with export orders acquired during the fiscal year amounting to $211 million.