BEL Signs Agreement with Indian Air Force for Akash Missile System Maintenance
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Synopsis
Bharat Electronics Limited (BEL) has secured a contract worth Rs 593.22 crore with the Indian Air Force for the maintenance of the Akash missile system as the fiscal year 2025-26 begins. The company reports significant financial growth and anticipates expanding its global market presence.
Key Takeaways
- Bharat Electronics Limited signed a Rs 593.22 crore contract.
- Contract is for maintenance of the Akash missile system.
- Company reported a turnover of Rs 23,000 crore for FY 2024-25.
- Significant profit increase of 47.3 percent in Q3 FY 2024-25.
- BEL aims to enhance global outreach and self-reliance.
Bengaluru, April 2 (NationPress) The Navratna defence public sector enterprise Bharat Electronics Limited (BEL) has entered into a contract with the Indian Air Force, amounting to Rs 593.22 crore, to deliver maintenance services for the Akash missile system as the new financial year 2025-26 commences.
Previously, BEL had provided the IAF with the Akash missile system, which led to this maintenance contract.
Additionally, the company has successfully negotiated with clients for securing orders totaling Rs 5,000 crore, as stated by BEL.
In the fiscal year 2024-25, Bharat Electronics Limited reported a turnover of approximately Rs 23,000 crore, compared to the previous year's Rs 19,820 crore, marking a growth of 16 percent. This figure includes export sales reaching around $106 million during FY 2024-25, up from last year’s export turnover of $92.98 million, indicating a growth of 14 percent, according to the company.
During the fiscal year 2024-25, BEL secured orders valued at Rs 18,715 crore. Significant orders acquired include BMP II Upgrade, Ashwini Radar, Software Defined Radios, Data link, Multi-Function Radars, EON 51, Seekers, Anti Drone System, Airport Surveillance Radar, Sonar Upgradation, Flycatcher spares, Radar upgradation, Spares and Services, and various other projects in the non-defence sphere. Consequently, BEL's total order book as of April 1, 2025, is approximately Rs 71,650 crore, including an export order book of $359 million.
Chairman & Managing Director of BEL, Manoj Jain, remarked: "BEL aims to achieve self-reliance through intensified Indigenisation efforts, expansion, modernisation, and outsourcing to Indian Industries, including MSMEs and startups. The company has devised strategies to enhance its global presence in international market segments over the upcoming years. These initiatives will support BEL in maintaining its leading position in the strategic electronics domain."
BEL has reported a remarkable 47.3 percent increase in its net profit for the third quarter ending December 2024, achieving Rs 1,316.06 crore, in contrast to Rs 893.30 crore during the same quarter of the previous year.
Furthermore, the Navratna defence public sector company saw its consolidated revenue from operations rise by 38.6 percent in the third quarter, reaching Rs 5,770.69 crore, up from Rs 4,162.16 crore in the corresponding quarter of the last fiscal year.
