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BEL turnover rises to record Rs 19,700 crores

IANS | Updated on Monday, April 01, 2024 18:05 PM IST

Bengaluru:Navratna Defence PSU Bharat Electronics Limited (BEL) has achieved a record turnover of around Rs 19700 crore during the Financial Year 2023-24, registering a growth of 13.65 per cent over the previous year’s turnover of Rs 17,333 crore, according to a company statement issued on Monday.

In the fiscal year 2023-24, BEL successfully secured orders worth around Rs 35,000 crore. With this, the total order book of BEL as on April 1st, 2024, stands at around Rs 76000 crore.

Among the notable defence 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 the non-defence sector.

BEL also achieved export sales of around US$ 92.98 million during FY 2023-24, as against the previous year’s export turnover of US$ 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, etc.

As on April 1st, 2024, BEL's export order book stands at USD 407 million, with export orders acquired during the fiscal year amounting to USD 211 million.

BEL CMD Bhanu Prakash Srivastava said: “We are in sync with the Government’s ‘Make in India’ initiative as indigenisation, procurement from MSMEs and GeM continue to top our priority list.

The company’s exports have also grown significantly as compared to the previous year and Research & Development continues to be a major thrust area, he added.

 

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