BEL Anticipates Over ₹25,000 Crore Order Inflow in FY24

Defense News , India :- Bhanu Prakash Srivastava, the Chairman and Managing Director of Bharat Electronics Limited (BEL), is optimistic about surpassing the ₹25,000-crore mark in order inflow for the financial year 2024. Currently, the order book stands at approximately ₹23,200 crore.

Srivastava highlighted that the anticipated fruition of the defense and aerospace major ₹2,000-crore order for the Early Warning (EW) system for ships is expected in the ongoing financial year.

In a significant development on December 15, BEL, headquartered in Bangalore, inked a substantial contract with the Ministry of Defence for the procurement of electronic fuses for the Indian Army. Valued at ₹5,336.25 crore over a 10-year period, the contract aligns with the "Aatmanirbhar Bharat" vision and falls under the government initiative for the "Manufacture of Ammunition for Indian Army by Indian Industry."

This strategic project aims to bolster ammunition stocks, reduce dependence on imports, attain self-sufficiency in ammunition manufacturing, acquire critical technologies, and safeguard against disruptions in the supply chain.

The robust order book is evidently reflected in the remarkable stock performance of BEL, with shares witnessing a remarkable gain of over 70% year-to-date.

Looking ahead, the company has set ambitious targets, with a revenue growth guidance of 15% for FY24 and a margin guidance ranging between 21% and 23%.