Bharat Electronics Limited Secures New Contracts Worth Rs 973 Crore
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Bengaluru, Dec 23 (NationPress) Bharat Electronics Limited (BEL) has successfully obtained new contracts totaling Rs 973 crore since its last announcement on December 9 of this year, as reported by the Navratna Defence Public Sector Undertaking on Monday.
Significant contracts include Platform Screen Doors for Metro Rail, Radars, Communication Equipment, Jammers, Seekers, Upgraded Submarine Sonar, Upgraded Satcom Terminals, Test Stations, Spares, and Services.
With these new orders, BEL's total order accumulation has reached Rs 9,801 crore for the current financial year.
Previously, on December 9, BEL had announced the acquisition of additional orders worth Rs 634 crore since November.
These orders encompassed maintenance of Akash Missile System, telescopic sights for guns, communication equipment, jammers, electronic voting machines, test stations, spares, services, and more.
This brought the company's total order book to Rs 8,828 crore.
BEL is a multi-faceted, multi-technology conglomerate engaged in the design, manufacture, and supply of products and systems across diverse fields such as 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 Government of India held a 51.14 percent stake in the company.
BEL reported a net profit of Rs 1,091.27 crore for the second quarter of FY25, reflecting a growth of 34.4 percent from Rs 812.34 crore in the same period last year.
In Q2FY25, BEL's revenue increased by 14.8 percent to Rs 4,583.41 crore, up from Rs 3,993.32 crore year-on-year (YoY).
Indian defence equipment manufacturers are increasingly obtaining more contracts due to the Government's policy aimed at enhancing defence production as part of the initiative for an Aatmanirbhar Bharat. This trend is becoming evident in the growing order books of these firms.
The government's ambitious objectives for promoting defence production have led to a surge in stock prices of defence companies and a significant increase in their market capitalization, reflecting the high confidence and expectations that investors have for the sector.
