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Business EconomyPosted at: Apr 1 2020 7:53PM


BEL posts turnover of Rs 12,500 cr in FY 2019-20

Bengaluru, Apr 1 (UNI) Navratna Defence PSU Bharat Electronics Limited (BEL) posted a turnover in excess of Rs 12,500 crore (provisional & unaudited) during the financial year 2019-20, recording a 6 pc increase over the previous year’s turnover of Rs 11,789 crore.
BEL's Order Book as on Wednesday, April 1, is Rs 51,800 crore. The year saw BEL securing significant orders worth Rs 13,000 crore. Some of the major orders are Akash (7 Sqdn), Coastal Surveillance Systems (CSS), upgrade for EW system, radars, AMCs for radars & weapon systems, Software Defined Radio (SDR), sonars, and Advanced Communication Systems.
BEL’s Chairman & Managing Director, M.V. Gowtama, said, “The global lockdown due to COVID-19 and the economic slowdown had some impact on BEL during the last month of the last quarter of FY 2019-20. Execution/acceptance of some of the major projects could not be completed due to force majeure which otherwise would have further contributed to BEL’s revenues during FY 2019-20 itself.’’
However, BEL remained focused on enhancement of its capabilities and competitiveness through diversification, continuous modernisation, indigenisation and outsourcing to Indian industries with increased thrust on MSME sector, he said.
Mr. Gowtama further said BEL had established its visibility and presence in the international markets through commencement of operations of its offices in Vietnam, Myanmar, Sri Lanka, Oman, Singapore and United States.
Some of the flagship projects executed by BEL during FY 2019-20 included command & control systems, thermal imagers for tanks, upgrade of communication system, land-based EW systems, weapon repair facility, electronic fuzes, various radars, Smart City projects, Delhi CCTV project, Schilka upgrade, avionics package for LCA, classroom jammers, real-time information system for Railways and LRSAM.
BEL achieved exports worth $48.59 million during the fiscal. Major products exported include cable looms, coastal surveillance system spares, radar, Compact Multi-Purpose Advanced Stabilisation System (CoMPASS), and electro-mechanical parts.
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Tags: #BEL posts turnover of Rs 12#500 cr in FY 2019-20
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