Bharat Electronics Limited bags new orders worth Rs 973 crore

Bengaluru, Dec 23 Bharat Electronics Limited (BEL) has secured additional orders worth Rs 973 crore since the last disclosure on December 9 this year, the Navratna Defence Public Sector Undertaking said on Monday.

Major orders 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 orders, BEL has now accumulated orders totalling Rs 9,801 crore in the current financial year.

BEL had announced on December 9 that it has secured additional orders worth Rs 634 crores since November.

The orders included maintenance of Akash Missile System, telescopic sights for guns, communication equipment, jammers, electronic voting machines, test stations, spares, services, etc.

This had taken the company's order book to Rs 8,828 crore.

BEL is a multi-product, multi-technology 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 systems, electro optics, tank electronics & gun system upgrades, and electronic fuses in the defence segment.

As on September 31, 2024, the government of India held 51.14 per cent stake in the company.

The BEL reported a net profit of Rs 1,091.27 crore for the second quarter of FY25, recording a growth of 34.4 per cent from Rs 812.34 crore, in the year-ago period.

BEL revenue in Q2FY25 increased 14.8 per cent to Rs 4,583.41 crore from Rs 3,993.32 crore, year-on-year (YoY).

Indian defence equipment manufacturers have been bagging more orders with the Government's policy of boosting defence production as part of the drive towards an Aatmanirbhar Bharat. This is increasingly reflected in the rising order books of these companies.

This reiteration of the government's ambitious plans for promoting defence production triggered a surge in the stock prices of the defence companies and consequent jump in their market cap which underlines the huge faith and expectation that investors are pinning on the sector.

Source: IANS