BEL achieves record turnover in excess of Rs 12,500 cr in FY20; secures orders worth Rs 13,000 cr
BEL achieved export sales of $48.59 million during 2019-20.
Bengaluru: Navratna defence PSU Bharat Electronics Limited (BEL) posted a turnover in excess of Rs 12,500 crore (provisional & unaudited) during 2019-20, a six percent growth over the previous year''s figure of Rs 11,789 crore.
BEL's order book as on Wednesday is Rs 51,800 crore, the Bengaluru-headquartered company said in a statement.
The year saw BEL securing orders worth Rs 13,000 crore, including Akash missiles (seven squadron), coastal surveillance systems (CSS), upgrade for EW system, radars, AMCs for radars & weapon systems, software defined radio (SDR), sonars and advanced communication systems, it said.
Some of the flagship projects executed during 2019-20 are: Command & control systems, thermal imagers for tanks, upgrade of communication system, land based EW systems, weapon repair facility, various radars, smart city projects, Delhi CCTV project, avionics package for LCA, classroom jammers, real time information system for Railways and LRSAM, BEL said.
BEL achieved export sales of $48.59 million during 2019-20. Major products exported include cable looms, coastal surveillance system spares, radar, compact multi-purpose advanced stabilisation system (CoMPASS), and electro mechanical parts.
BEL's chairman & managing director MV Gowtama said the lockdown due to COVID-19 and the economic slowdown had some impact on BEL during March.
"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.
Gowtama said BEL has established its "visibility and presence" in the international markets through commencement of operations of its overseas offices at Vietnam, Myanmar, Sri Lanka, Oman, Singapore and United States as part of maximising its geo-strategic reach and increased global footprint.
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