Synopsis
Bharat Electronics Limited (BEL) has announced new orders worth Rs 577 crore, boosting its total orders to Rs 13,724 crore this financial year. The contracts include advanced military communication technologies and support systems, marking a significant growth in the company's operations and profitability.Key Takeaways
- BEL has secured orders worth Rs 577 crore.
- Total orders for the fiscal year reach Rs 13,724 crore.
- Recent contract with the Ministry of Defence valued at Rs 1,034 crore.
- Significant profit growth of 47.3% reported.
- Consolidated revenue increased by 38.6% in Q3.
Bharat Electronics Limited (BEL), a prominent player in the defence sector, has announced the acquisition of further orders valued at Rs 577 crore since its last update on February 20 this year, as reported on Thursday by the Navratna defence public sector enterprise.
Key orders encompass airborne electronic warfare solutions, advanced composite communication systems tailored for submarines, Doppler weather radars, train communication systems, radar enhancements, spare parts, and various services.
For the current financial year, BEL has amassed a remarkable total of Rs 13,724 crore in orders.
Previously, on February 20, BEL finalized a deal worth Rs 1,034 crore with the Ministry of Defence for the provision of Software Defined Radios (SDRs) and Data Communication Terminals (DCTs) for the Indian Coast Guard.
These cutting-edge radios, developed in collaboration between DEAL (DRDO) and BEL, are designed to support multi-band, multi-channel, multi-role operations to align with the demands of network-centric warfare. The DCT system facilitates reliable communication between shore and vessels, ensuring the precision, speed, security, and dependability required for critical operations.
BEL has reported a significant 47.3% increase in its net profit for the third quarter ending December 2024, reaching Rs 1,316.06 crore, compared to Rs 893.30 crore in the same quarter the prior year.
The Navratna defence public sector company's consolidated operational revenue in the third quarter surged by 38.6% to Rs 5,770.69 crore, up from Rs 4,162.16 crore in the corresponding quarter of the previous financial year.
Profit before tax for the third quarter of 2023-24 was Rs 1,754.15 crore, reflecting a year-on-year growth of 49.64%.
Total expenses saw a year-on-year increase of 31.98%, reaching Rs 4,207.05 crore in the October-December quarter. The cost of materials consumed was Rs 3,191.02 crore (up 46.07%), while employee benefit expenses amounted to Rs 665.32 crore, reflecting a 7.38% year-on-year increase during the quarter.
BEL operates as a multi-product, multi-technology conglomerate that designs, manufactures, and supplies an array of products and systems across various domains, including radars, missile systems, military communications, naval systems, electronic warfare & avionics systems, electro-optics, tank electronics & gun system upgrades, and electronic fuses within the defence sector. As of September 31, 2024, the Indian government maintained a 51.14% stake in the company.
