By R. Anil Kumar
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Navratna Defence PSU Bharat Electronics Limited (BEL) has reported a remarkable achievement, with a record turnover of approximately Rs. 19,700 crore in the Financial Year 2023-24. This marks a notable increase of 13.65% compared to the previous fiscal year’s turnover of Rs. 17,333 crore.
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The announcement, made through a company statement on Monday, underscores BEL’s robust performance in the defence sector
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BEL also made significant strides in its export sales, reporting around US$ 92.98 million in export turnover during FY 2023-24, reflecting a remarkable 92% growth compared to the previous year’s US$ 48.33 million
Bengaluru, April 1. Navratna Defence Public Sector Undertaking, Bharat Electronics Limited (BEL) has achieved a turnover of around Rs. 19700 Cr (Provisional & Unaudited), during the Financial Year 2023-24, against the previous year’s turnover of Rs. 17,333 Cr registering a growth of 13.65%.
In the fiscal year 2023-24, BEL successfully secured orders worth around Rs. 35000 Cr. Among the notable defence orders obtained during the year were Electronic Fuses, EW Systems, Communication Systems for naval warships, Fire Systems, Akash Prime Weapon System, Radars, Sonars, Software Defined Radios, Night Vision Devices, Tactical Communication Systems and other projects in Non-defence sector.
BEL CMD Bhanu Prakash Srivastava emphasized the company’s alignment with the Government’s ‘Make in India’ initiative, highlighting the focus on indigenization, procurement from MSMEs, and GeM. He also underscored the significant growth in exports and reiterated the company’s commitment to Research & Development as a major thrust area.
With this, the total order book of BEL as on April 1st, 2024, stands at around Rs. 76000 Cr.
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%.
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.
Mr. Bhanu Prakash Srivastava, Chairman & Managing Director, BEL, said: “BEL has yet again proven its manufacturing prowess with its turnover hitting a new high, courtesy sale of a gamut of products across Defence and non-Defence segments.
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 Ministry of Defence’s vision of maximising Defence exports.
Research & Development continues to be a major thrust area as we focus on in-house R&D efforts and collaborations with DRDO, academia and industry partners.
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. BEL will continue to explore new growth opportunities through export initiatives, diversification, capability enhancement, competitiveness and modernisation.”
