BEL registers 6% revenue growth in FY 2019-20

Bharat Electronics Ltd (BEL) has reported 6 percent annual growth in sales turnover at Rs 12,500 crore during financial year 2019-20
BEL registers 6% revenue growth in FY 2019-20

Bengaluru: Navratna Defence PSU Bharat Electronics Limited (BEL) posted a turnover in excess of Rs 12,500 crore (Provisional & Unaudited) during financial year 2019-20. The company has registered a growth of 6 percent when compared to the previous year's turnover of Rs 11,789 crores.

BEL's order book, as on April 4, stands at Rs 51,800 crore. The year saw BEL securing significant orders worth Rs 13,000 crore. Some of the major orders acquired during the year are Akash (7 Sqdn), Coastal Surveillance Systems (CSS), Upgrade for EW system, Radars, AMCs for Radars & Weapon Systems, Software Defined Radio (SDR), Sonars, Advanced Communication Systems, etc.

Some of the flagship projects executed during FY 2019-20 are 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 export sales of US $ 48.59 million during FY 2019-20. Major products exported include Cable Looms, Coastal Surveillance System Spares, Radar, Compact Multi-Purpose Advanced Stabilization System (CoMPASS), Electro-Mechanical parts, etc.

Commenting on the achievement, BEL’s Chairman & Managing Director (CMD) MV Gowtama, said, “The global lockdown due to Coronavirus (COVID-19) and the economic slowdown had some impact on BEL during the last month of the last quarter of FY 2019-20. Execution and 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 the enhancement of its capabilities and competitiveness through diversification, continuous modernisation, indigenisation and outsourcing to Indian industries with increased thrust on the MSME sector. BEL has established its visibility and presence in the international markets through the commencement of operations of its overseas offices at Vietnam, Myanmar, Sri Lanka, Oman, Singapore and the United States as part of maximising its geostrategic reach and increased global footprint.”

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