BEL achieves record turnover of Rs. 19700 Crores
In the fiscal year 2023-24, BEL successfully secured orders worth around Rs. 35000 Cr.
Bengaluru: Navratna Defence PSU 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 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 Non-defence sector.
Read Also : NHPC Ltd Q4 results, 16.3 percent decline in net profitWith 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.
Read Also : Ujjivan small finance bank Q4 results, highest ever PAT at Rs 1,281 crore recordedShri 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 MoD’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.”
Read Also : Electric Cars vs. Hybrid Cars: 5 Major DifferencesNews Must Read
- Electric Cars vs. Hybrid Cars: 5 Major Differences
- CBI registers case against PNB official for illegally transferring approx. Rs. 4.98 cr
- Bandhan Bank Q4 results, Net profit declines 93% to Rs 54.63 crore
- Vikram Solar Wins a 397.7 MWp Module Supply order for NTPC Khavda Project
- BEML bags order worth Rs 250 crore from Northern Coalfields Ltd
- PhonePe collaborates with LankaPay to promote UPI payment acceptance in Sri Lanka
- HAL Q4 results, net profit up by 52.2 percent YoY
- GAIL India Q4 results, 22 percent fall in net profit
- MOIL Registers historical performance in FY'24
- PFC Q4 results, PAT jumps 20% YoY to Rs 5,624 cr