BEL Achieves Record Turnover of Rs 19,700 Crore in FY 2023-24

By siliconindia  |  Monday, 01 April 2024, 05:37:12 PM IST

BEL Achieves Record Turnover of Rs 19,700 Crore in FY 2023-24
Navratna Defence PSU Bharat Electronics Limited (BEL) has reported a remarkable achievement, with a record turnover of approximately Rs 19,700 crore in the Financial Year 2023-24. This marks a notable increase of 13.65% compared to the previous fiscal year's turnover of Rs 17,333 crore. The announcement, made through a company statement on Monday, underscores BEL's robust performance in the defense sector.
During the fiscal year 2023-24, BEL secured orders worth an impressive Rs 35,000 crore, significantly bolstering its order book. As of April 1st, 2024, the total order book stands at a substantial Rs 76,000 crore, indicating strong growth prospects for the company.
Noteworthy defense orders obtained by BEL during the period include Electronic Fuzes, EW Systems, Communication Systems for naval warships, Fire Control Systems, Akash Prime Weapon System, Radars, Sonars, Software Defined Radios, Night Vision Devices, Tactical Communication Systems, and projects in the non-defense sector.
BEL also made significant strides in its export sales, reporting around US$ 92.98 million in export turnover during FY 2023-24, reflecting a remarkable 92% growth compared to the previous year's US$ 48.33 million. Major exported products include Transmit & Receive (TR) Modules, Compact Multi-Purpose Advanced Stabilization System (CoMPASS), Radar & Electronic Warfare Systems, Medical Electronics, and Communication equipment.
As of April 1st, 2024, BEL's export order book stands at a commendable USD 407 million, with orders acquired during the fiscal year amounting to USD 211 million, indicating a healthy pipeline of export opportunities.
BEL CMD Bhanu Prakash Srivastava emphasized the company's alignment with the Government's 'Make in India' initiative, highlighting the focus on indigenization, procurement from MSMEs, and GeM. He also underscored the significant growth in exports and reiterated the company's commitment to Research & Development as a major thrust area.

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