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Defence PSU Bharat Electronics Limited (BEL) today said its sales turnover has increased to Rs 5,550 in 2010—11 (provisional) from Rs 5,220 crore in 2009—10, registering a growth of 6.3 per cent.
The estimated profit before tax is at Rs 1,120 crore as against Rs 1,045 crore in 2009—10, BEL Chairman and Managing Director, Mr Ashwani Kumar Datt said, adding, the audited results were still awaited.
The PSU registered a growth of 77 per cent in its exports turnover from $23.65 million in 2009—10 to $41.89 million during 2010—11, he told media, after announcing the company’s performance highlights during the year.
“Exports did better than targeted”, he said.
All units continued to achieve profits, he said.
BEL’s order book grew from Rs 11,350 crore to Rs 23,600 crore as on April 1, 2011.
Supplies to defence contributed to 80 per cent of the turnover. The turnover from indigenously developed products was 78 per cent, he said.
Weapon Systems on account of Akash contributed to 4 per cent of the turnover and the segment was expected to grow in future. Communication contributed to 18 per cent, he added.
The new products for the year included Akash weapon system, Humsa—NG, Semi Ruggedised Automatic Exchange, Lower Power Jammer, Instant Fire Detection and Suppression System and Mobile Communication Terminal.
Talking about its export orders, he said BEL has an export order book of $66.36 million, including offset order of $42.28 million. The export target for 2011—12 is $47 million, he said.
Mr Datt said the company is aiming to reach a turnover of Rs 6,200 crore during 2011—12.
It would work strategically on important projects like Akash weapon system for Indian army, Lightweight Portable Radar, Battlefield Surveillance System. “BEL is aiming to achieve increased growth in offset business exports”, he said.
It is looking at diversifying into new areas of defence and civil segments and giving thrust to in-house development and strengthening its R&D capabilities.
BEL is in discussion with a reputed foreign OEM on forming an Indian JV in the area of civilian radars and select defence radars, he said.
The plans for setting up a JVC with BHEL for manufacturing solar PV wafers, cells and modules have been finalised. Both the companies are in the process of obtaining approvals from their respective boards, Mr Datt said.
BEL is working on establishing a company for the design, development and manufacture of RF and microwave components and subsystems, he added.
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