Defense News

India 

Bharat Electronics Limited (BEL), a leading defence PSU, has announced its provisional and unaudited turnover for the financial year 2023-24, reaching approximately Rs. 19,700 Cr. This marks a notable growth of 13.65% compared to the previous year's turnover of Rs. 17,333 Cr.

During the fiscal year, BEL secured orders totaling around Rs. 35,000 Cr, highlighting its continued success in the defence sector. These orders encompass a wide range of products including 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 projects in the non-defence sector.

As of April 1st, 2024, BEL's total order book stands at approximately Rs. 76,000 Cr, reflecting a strong pipeline of projects. Additionally, BEL achieved significant growth in export sales, reaching around US$ 92.98 Million during FY 2023-24, compared to US$ 48.33 Million in the previous year, marking a growth of 92%.

Major products exported by BEL include Transmit & Receive (TR) Modules, Compact Multi-Purpose Advanced Stabilisation System (COMPASS), Radar & Electronic Warfare Systems, Medical Electronics, and Communication equipment. As of 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.

Shri Bhanu Prakash Srivastava, Chairman & Managing Director of BEL, expressed his satisfaction with the company's performance, emphasizing BEL's commitment to manufacturing excellence across defence and non-defence segments. He highlighted the company's focus on research & development, collaborations with DRDO, academia, and industry partners, and its alignment with the Government's 'Make in India' initiative.

Indigenisation, procurement from MSMEs, and participation in Government e-Marketplace (GeM) remain top priorities for BEL, as it continues to explore new growth opportunities through export initiatives, diversification, capability enhancement, competitiveness, and modernisation.