Bengaluru: Showing robust growth in year 2021-22, Defence PSU Bharat Electronics Limited (BEL) announced May 25 that its turnover registered a growth of 9 per cent as it increased to Rs 15,044 crore (audited) in 2021-22 from Rs 13,818 crore in 2020-21. The announcement was made at the BEL’s annual press conference here. According to the company, indigenous technology contributed significantly in the turnover.
“The order book as on April 1, 2022, is around Rs 57,570 crore. We expected a growth of 10-15 per cent but logistics has been affected due to global chip shortage, pandemic and the geo-political situation. It is to be noted that the expenditure on research and development (R&D) has been increased from Rs 873 crore in 2020-21 to Rs 1,045 crore in 2021-22. We also achieved a market capitalisation of Rs 60,000 crore. It is significant to state that the BEL’s turnover from indigenous technology is 78 per cent. The sales from defence business is 88 percent,” BEL’s Chairman & Managing Director Anandi Ramalingam said.
The flagship projects executed during FY 2021-22 by BEL were Missile Systems (Air Defence Weapon System & LRSAM), Command & Control Systems, Communication and Encryption products, various Sonars, Electro-optic Systems, Fire Control Systems, Gun Upgrades, various Radars, Electronic Warfare Systems, Coastal Surveillance System, Unmanned Systems, Home Land Security Systems, Smart City projects, K-FON, Medical Electronics, etc.
In December 2021, BEL received an order worth Rs 2,400 crore from Hindustan Aeronautics Limited (HAL) for the manufacture and supply of 20 types of airborne electronic systems to be fitted on the fighter aircraft, the Light Combat Aircraft (LCA) Tejas Mk1A. The order for supply of Avionic Systems for 83 Tejas MK1A fighter aircraft will be executed by two Strategic Business Units (SBUs) of BEL in Bengaluru and Panchkula. All the systems will be delivered by BEL to HAL in a ready-to-board condition. It also received orders for the weapon locating radar, gun electronic upgrade, advanced electronic warfare range etc.
As a part of its offset commitments under the C295 aircraft programme of the Government of India, Airbus Defence and Space has signed a contract with BEL for the manufacture and supply of Radar Warning Receiver (RWR) and Missile Approach Warning System (MAWS). The export order is worth $ 93.15 million, the CMD added.
BEL had introduced new products and systems such as Laser Fence System, IR Jammer for Active Tank Protection System, noted Ramalingam. “The company’s future thrust areas are Quantum Cryptography, Photonics-based EW Systems, High-Power Lasers, Geospatial Analytics, Image Profiling using LiDARs, Drone Guard Systems, Intelligent Process Automation, AI-based products, Unmanned Systems, etc.,”
BEL’s Chairman & Managing Director Anandi Ramalingam said, “We have signed MoUs with the tri services (Indian Army, Indian Navy and Indian Air Force) towards technology cooperation and innovation. In the areas of radars, electronic warfare systems, robotics and weapon systems we have signed licenses for transfer of technology (LA ToT) with the Defence Research Development Organisation (DRDO).”
She further said that the company spent around Rs 465 crore in 2021-22 as capital expenditures (CAPEX) investment towards modernisation of plant and machinery, test instruments, R&D investments and infrastructure upgradation. “The facilities that were established during the period include infrastructure and test facilities for Long Range Surface to Air Missile (LRSAM), augmentation of facilities for AKASH missile systems, regional product support centres and virtual desktop infrastructure,” Ramalingam added.