BEL Achieves Record Turnover of Rs 19,700 Crore

Defence Industry

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Bengaluru. Defence PSU Bharat Electronics Limited (BEL) has achieved a turnover of around Rs 19,700 crore (provisional & unaudited), during the financial year 2023-24, against the previous year’s turnover of Rs 17,333 crore registering a growth of 13.65%.

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In the fiscal year 2023-24, BEL successfully secured orders worth around Rs 35,000 crore. Among the notable defence orders obtained during the year were Electronic Fuzes, EW Systems, Communication Systems for naval warships, Fire Control Systems, Akash Prime Weapon System, Radars, Sonars, Software Defined Radios, Night Vision Devices, Tactical Communication Systems and other projects in Non-defence sector.

With this, the total order book of BEL as on April 1st, 2024, stands at around Rs 76,000 crore.

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BEL also achieved export sales of around US$ 92.98 million during FY 2023-24, as against the previous year’s export turnover of US$ 48.33 million, registering a growth of 92%. Major products exported include Transmit & Receive (TR) Modules, Compact Multi-Purpose Advanced Stabilisation System (CoMPASS), Radar & Electronic Warfare Systems, Medical Electronics, Communication equipment, etc.

As on April 1st, 2024, BEL’s export order book stands at US$ 407 million, with export orders acquired during the fiscal year amounting to US$ 211 million.

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Bhanu Prakash Srivastava, Chairman and Managing Director, BEL, said, “BEL has yet again proven its manufacturing prowess with its turnover hitting a new high, courtesy sale of a gamut of products across Defence and non-Defence segments. Exports have also grown significantly as compared to the previous year, a testimony to the all-out efforts made by the company to expand its global footprints and contribute to the MoD’s vision of maximising Defence exports.”

“Research & Development continues to be a major thrust area as we focus on in-house R&D efforts and collaborations with DRDO, academia and industry partners. We are in sync with the Government’s ‘Make in India’ initiative as indigenisation, procurement from MSMEs and GeM continue to top our priority list. BEL will continue to explore new growth opportunities through export initiatives, diversification, capability enhancement, competitiveness and modernisation,” he added.

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