16-Apr-2024Today's Market Indicators

BEL secures orders worth Rs 4,300-cr from Indian Army, Indian Navy
(10:33, 25 Mar 2023)

In a regulatory filing made after trading hours yesterday, the company informed that the Ministry of Defence (MoD), Govt of India, has signed a contract worth Rs 3000 crore with Bharat Electronics (BEL) for supply of 'integrated electronic warfare systems' for the Indian Army.

The 'integrated electronic warfare systems' for Indian Army are state-of-the-art with cutting-edge technologies, indigenously developed and manufactured by BEL based on defence electronics research laboratory (DLRL), DRDO design. These integrated systems will be a real force multiplier and will further enhance the electronic warfare capability of the Indian Army in leaps and bounds.

Further, BEL has also received several contracts totaling approximately to Rs 1300 crore during last fortnight from the Indian Navy for supply of Indigenously developed fire control, gun fire control, surveillance, tracking, ESM, sonar systems etc.

Navratna PSU Bharat Electronics (BEL) is a multi-product, multi-technology, multi-Unit conglomerate which designs, manufactures and supplies products and systems in a wide variety of fields including radars, missile systems, military communications, naval systems, electronic warfare & avionics, C4I systems, electro optics, tank electronics & gun/weapon system upgrades, and electronic fuzes in the defence segment.

The company had reported reported 2.64% rise in standalone net profit to Rs 598.77 crore in Q3 FY23 as against Rs 583.37 crore in Q3 FY22. On a standalone basis, the PSU company's net sales increased 10.6% to Rs 4,046.11 crore for the quarter ended 31 December 2022 compared with Rs 3,656.22 crore in the same quarter a year ago.

The scrip fell 1.10% to end at Rs 91.42 on the BSE.

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