BEL: India’s state owned defence manufacturer Bharat Electronics Limited (BEL) clocked a turnover of about $1.84 billion (Rs 13,500 crores) during the financial year 2020-21 (April-March period), an increase of 6.6% over the BEL’s turnover during the previous financial year, when it was $1.72 billion (Rs 12,608 crores), the company said on Thursday.
The Bengaluru based defence PSU, which manufactures Akash surface-to-air missiles, said it achieved revenue growth despite the challenges posed by the outbreak of Covid-19 pandemic and intense business competition.
The BEL’s order book as on April 1, 2021 was around $7.22 billion (Rs 53,000 crores). In the year 2020-21, the BEL secured orders worth $2.04 billion (Rs 15,000 crores).
“Some of the major orders acquired during the year are ICU ventilators, software defined radios and communication equipment, various types of radars, sonars, torpedo decoy systems, electronic warfare systems, networking & encryption products, and smart cities, among other things,” the BEL said.
The BEL said some of the flagship projects executed during FY 2020-21 included supply of ICU ventilators, missile systems (Akash missile and LRSAM), gun upgrades, supply of different types of radars and sonars.
In addition to this, the BEL also won order to supply command and control systems, electro-optic systems, communication and encryption products, EW systems, coastal surveillance system, electronic fuses, home land security and smart city projects, KFON and avionics package for the country’s light combat aircraft LCA Tejas.
According to the company, during the financial year it exported products worth $50 million.
“Major products exported include Coastal Surveillance System, Trans-Receive (TR) Modules, Bharati Radio, Identification of Friend or Foe–Interrogator (IFFI), Electro-Optic System Compact Multi-Purpose Advanced Stabilization System (EOS CoMPASS), Electro-Mechanical parts, Radar Finger Printing System (RFPS), Low Band Receivers (LBREC), and Spares for Radars,” the BEL said.
BEL to focus on self-reliance in defence
“The BEL will continue its efforts in becoming self-reliant through enhanced focus on indigenization, outsourcing to domestic industry with more thrust on MSME and GeM procurement and thus minimizing the import dependency,” said MV Gowtama, chairman and managing director of the BEL.
Gowtama said the company was poised to explore and tap new growth areas and new business avenues through continuous diversification, enhancement of capabilities and competitiveness.
“BEL has forayed into new potential business segments such as healthcare solutions, network and cyber security, space electronics, energy storage systems, software etc. and is confident of making significant headway in these segments in the years to come,” MV Gowtama added.