Daijiworld Media Network - Bengaluru
Bengaluru, Mar 6: Bharat Electronics Limited (BEL), the Navratna defence PSU, has secured additional orders worth Rs 577 crore, further strengthening its position in the defence and aerospace sectors. With this latest acquisition, the total orders received by BEL in the current financial year have surged to Rs 13,724 crore, reflecting the company's continued growth and dominance in strategic defence technologies.
The newly secured contracts encompass a range of advanced defence systems, including airborne electronic warfare products, next-generation composite communication systems for submarines, Doppler weather radars, train communication systems, radar upgrades, spares, and services. These acquisitions align with BEL’s commitment to indigenous defence production and cutting-edge technological advancements.
Earlier, on February 20, BEL signed a significant contract worth Rs 1,034 crore with the Ministry of Defence for the supply of Software Defined Radios (SDRs) and Data Communication Terminals (DCTs) for the Indian Coast Guard. Developed in collaboration with DEAL (DRDO), these state-of-the-art multi-band, multi-channel radios are designed for network-centric warfare. The DCT system, a critical component of maritime communication, enhances secure, accurate, and high-speed communication between shore and naval units, ensuring seamless coordination during critical missions.
BEL’s financial performance has also been robust, reporting an impressive 47.3% rise in net profit for Q3 FY 2023-24, reaching Rs 1,316.06 crore, compared to Rs 893.30 crore in the same period last year. The company’s consolidated revenue from operations saw a 38.6% increase, reaching Rs 5,770.69 crore, a significant jump from Rs 4,162.16 crore in the previous fiscal's corresponding quarter.
The profit before tax stood at Rs 1,754.15 crore, marking a 49.64% year-on-year growth. Meanwhile, total expenses surged by 31.98% to Rs 4,207.05 crore, primarily driven by a 46.07% rise in material costs to Rs 3,191.02 crore and employee benefit expenses increasing by 7.38% to Rs 665.32 crore.
As a multi-product, multi-technology conglomerate, BEL plays a critical role in defence electronics, specializing in radars, missile systems, military communication, naval defence systems, avionics, electronic warfare, electro-optics, tank electronics, gun system upgrades, and electronic fuses. As of September 30, 2024, the Indian government holds a 51.14% stake in the company, reinforcing its strategic importance in India’s defence sector.
With these latest orders and a strong financial performance, BEL continues to solidify its position as a key player in India’s defence modernization and self-reliance efforts under Atmanirbhar Bharat.