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Bharat Electronics (BEL) is intending to take up diversification initiatives to reduce its dependence on defence manufacturing.
BEL plans to reduce the total share of sales in defence business to 80 per cent from 88 per cent by the next financial year. The Navratna Defence PSU plans to focus on manufacturing for the civil aviation and healthcare solutions sectors, and for railway/metro stations.
In the healthcare solutions sector, the company had rolled out 30,000 ventilators during the Covid-19 pandemic and plans to continue the manufacturing. It has now built a hemodialysis machine in partnership with Renalyx — a Bengaluru-based healthtech start-up — and is also looking into the manufacture of oxygen concentrators. In the civil aviation sector, the Airport Authority of India had signed an MoU with BEL under which a platform for both the companies to co-operate was formed.
Turnover crosses ₹15,000 crore
The PSU has achieved turnover of ₹15,044 crore during FY22 against the previous fiscal’s turnover of ₹13,818 crore, despite challenges posed by the pandemic, semiconductor shortage and supply chain disruptions caused by the Russia-Ukraine war.
As on April 1, BEL’s order book was ₹57,570 crore. Some of the majors orders executed during the year include long range surface-to-air missile, Akash weapon system, fire control system and coastal surveillance system.
BEL achieved export turnover of $33 million, 35.8 per cent lower than turnover of $51.3 million achieved in 2020-21. Some of the major export products were subsystems of radar and EW systems, communication equipment and radar fingerprinting system.
Shares of the company on the BSE closed at ₹226.35, down 2.37 per cent from the previous close of ₹231.85. The shares opened at ₹232 today.
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