BEL records 8.87% increase in turnover

In the year 2021-22, BEL collaborated with new local partners, including Kenya, Chile, Suriname, Malaysia, Nepal and Bangladesh, the Defence PSU said in a statement.

BEL Chairman & Managing Director, Anandi Ramalingam. (Express Photo)

Defence PSU Bharat Electronics Limited (BEL) Wednesday announced that its turnover had increased to Rs 15,044 crore (audited) in 2021-22 from Rs 13,818 crore in 2020-21 registering a growth of 8.87 per cent. The company said its turnover from indigenous technology is 78 per cent.

BEL’s Chairman & Managing Director Anandi Ramalingam said the order book as on April 1, 2022, is around Rs 57,570 crore. “We expected a growth of 10-15 per cent but due to a global chip shortage, a pandemic and the geo-political situation has affected the logistics. It is to be noted that the expenditure on research and development (R&D) has been increased from Rs 873 crore in 2020-21 to Rs 1,045 crore in 2021-22. We also achieved a market capitalisation of Rs 60,000 crore. It is significant to state that the BEL’s turnover from indigenous technology is 78 per cent. The sales from defence business is 88 percent,” Ramalingam said.

Highlighting BEL’s achievements, she added that last year the first prototype of the Universal Driver Training Simulator for Rolling Stock (i-UDTS) was inaugurated by the Delhi Metro Rail Corporation (DMRC) and BEL. “This is indigenously developed. Prior to this, driver training simulators were being imported by DMRC from a foreign OEM. We have diversified into a non-defence business which includes rail and medical electronics,” the CMD added.

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Some of the flagship projects executed during FY 2021-22 were Missile Systems (Air Defence Weapon System & LRSAM), Command & Control Systems, Communication and Encryption products, various Sonars, Electro-optic Systems, Fire Control Systems, Gun Upgrades, various Radars, Electronic Warfare Systems, Coastal Surveillance System, Unmanned Systems, HomeLand Security Systems, Smart City projects, K-FON, Medical Electronics, etc.

In December 2021, the Light Combat Aircraft (LCA) Tejas Mk1A programme got a shot in the arm as BEL received an order worth Rs 2,400 crore from Hindustan Aeronautics Limited (HAL) for the manufacture and supply of 20 types of airborne electronic systems to be fitted on the fighter aircraft. The order for supply of Avionic Systems for 83 Tejas MK1A fighter aircraft will be executed by two Strategic Business Units (SBUs) of BEL: Electronic Warfare & Avionics, Bengaluru, and BEL-Panchkula, Haryana. All the systems will be delivered by BEL to HAL in a ready-to-board condition.

It also received orders for the Electronic Voting machine, weapon locating radar, gun electronic upgrade, advanced electronic warfare range etc.

Ramalingam said that as a part of its offset commitments under the C295 aircraft programme of the Government of India, Airbus Defence and Space has signed a contract with BEL for the manufacture and supply of Radar Warning Receiver (RWR) and Missile Approach Warning System (MAWS). The export order is worth $ 93.15 million.

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Speaking with The Indian Express she said, “The future thrust areas of the BEL are Quantum Cryptography, high power lasers, drone guard systems, AI-based products, unmanned systems, geospatial analytics, intelligent process automation etc. We have signed MoUs with the tri services (Indian Army, Indian Navy and Indian Air Force) towards technology cooperation and innovation. In the areas of radars, electronic warfare systems, robotics and weapon systems we have signed licenses for transfer of technology (LA ToT) with the Defence Research Development Organisation (DRDO).”

She further said that the company spent around Rs 465 crore in 2021-22 as capital expenditures (CAPEX) investment towards modernisation of plant and machinery, test instruments, R&D investments and infrastructure upgradation. “The facilities that were established during the period include infrastructure and test facilities for Long Range Surface to Air Missile (LRSAM), augmentation of facilities for AKASH missile systems, regional product support centres and virtual desktop infrastructure,” Ramalingam added.

In the year 2021-22, BEL collaborated with new local partners, including Kenya, Chile, Suriname, Malaysia, Nepal and Bangladesh.