BEL achieves record turnover of Rs 13,500 crore during 2020-21

Navaratna defence PSU Bharat Electronics Limited has achieved a record turnover of about Rs 13,500 crore (Provisional & Unaudited) during 2020-21, against previous financial year’s figure of Rs 12,608 crore in spite of the challenges posed by COVID19 pandemic & intense competition in business.

BEL’s order book as on April 1 this year is around Rs 53,000 crore, the Bengaluru-headquartered company said in a statement.

In 2020-21, BEL said it secured orders worth Rs 15,000 crore.

Some of the major orders acquired during the year are: ICU ventilators, software defined radios & communication equipment, various types of radars, sonars, torpedo decoy systems, electronic warfare systems, networking & encryption products, and smart city projects.

BEL achieved export sales of around USD 50 million during 2020-21.

Major products exported include coastal surveillance system, trans-receive (TR) modules, ‘Bharati Radio’, ‘Identification of Friend or FoeInterrogator’ (IFFI), Electro-Optic System Compact Multi-Purpose Advanced Stabilisation System (EOS CoMPASS), electro-mechanical parts, Radar Finger Printing System (RFPS), and Low Band Receivers (LBREC).

BEL’s Chairman & Managing Director M V Gowtama said, “BEL will continue its efforts in becoming self-reliant through enhanced focus on indigenisation, outsourcing to domestic industry with more thrust on MSME & ‘GeM’ procurement and thus minimising import dependency.”

The company said it is poised to explore & tap new growth areas and new business avenues through continuous diversification, enhancement of capabilities & competitiveness, and modernization, among others.

BEL has forayed into new potential business segments — healthcare solutions, network & cyber security, space electronics, energy storage systems, and software and is confident of making significant headway in these areas in the years to come, the statement added.