- Bharat Electronics Limited (BEL) achieved exports worth US $48.59 million during FY 2019-20
- The defence PSU has recently signed tripartite MoU with Israel-based Elbit Systems and Garden Reach Shipbuilders & Engineers Ltd (GRSE)
Navratna Defence PSU Bharat Electronics Limited (BEL) posted a turnover in excess of Rs 12,500 cores (Provisional & Unaudited) during the financial rear 2019-20. The company registered a growth of six per cent in comparison to the turnover figures it has posted for the previous financial year.
“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. However, BEL remained focused on the enhancement of its capabilities and competitiveness through diversification, continuous modernisation, indigenisation and outsourcing to Indian industries with increased thrust on MSME sector,” stated M V Gowtama, Chairman & MD, BEL.
The defence PSU has recently signed tripartite MoU with Israel-based Elbit Systems and Garden Reach Shipbuilders & Engineers Ltd (GRSE). The MoU aims at leveraging the individual strengths of BEL, Elbit and GRSE for the development and customisation of Elbit’s Unmanned Surface Vessels (USV) for the requirements of the Indian Navy.
Exports worth $48.59 million during FY 2019-20
BEL achieved export sales worth $48.59 million during FY 2019-20. Major products exported by BEL during the time frame include cable looms, coastal surveillance system spares, radars, compact multi-purpose advanced stabilisation system (CoMPASS), electromechanical parts among others.
“BEL has established its visibility and presence in the international markets through the commencement of operations of its overseas offices at Vietnam, Myanmar, Sri Lanka, Oman, Singapore and the United States as part of maximising its geostrategic reach and increased global footprint,” added Gowtama.
BEL’s order book on first April 2020
The PSU’s order book, as on 1st April 2020, is Rs 51,800 crore. The year saw BEL securing significant orders worth Rs 13,000 crore. Some of the major orders acquired during the year, as informed by BEL, include Akash (7 Sqdn), coastal surveillance systems (CSS), upgrade for EW system, radars, AMCs for radars & weapon systems, software-defined radio (SDR), sonars, advanced communication systems among others.
“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 Package for LCA, Classroom Jammers, Real-Time Information System for Railways and LRSAM,” read BEL’s official statement.
