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BEL Turnover Up 6% At Rs 12,500 Crore In FY20

Chairman and Managing Director M V Gowtama said the global lockdown due to COVID-19 and the economic slowdown had some impact on the company's financials last month.

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Navratna defence PSU Bharat Electronics Ltd (BEL) said on Wednesday it posted a turnover of Rs 12,500 crore during 2019-20, up six per cent from Rs 11,789 crore in the previous financial year.

BEL secured significant orders worth Rs 13,000 crore in FY20. Some of these included Akash (7 Sqdn), coastal surveillance systems, upgrade for EW system, radars, AMCs for radars and weapon systems, software defined radio, sonars and advanced communication systems. The orders book currently stands at Rs 51,800 crore.

Some of the flagship projects executed during 2019-20 are command and control systems, thermal imagers for tanks, upgrade of communication system, land-based EW systems, weapon repair facility, electronic fuzes, various radars, smart city projects, Delhi CCTV project, Schilka upgrade, avionics package for LCA, classroom jammers, real time information system for Railways and LRSAM.

Chairman and Managing Director M V Gowtama said the global lockdown due to COVID-19 and the economic slowdown had some impact on the company's financials last month.

"The execution and acceptance of some major projects could not be completed due to Force Majeure which otherwise would have further contributed to BEL's revenues during FY 2019-20," he said in a statement.

However, BEL remains focused on enhancement of its capabilities and competitiveness through diversification, continuous modernisation, indigenisation and outsourcing to Indian industries with increased thrust on MSME sector, said Gowtama.

"The company has started operations at overseas offices in Vietnam, Myanmar, Sri Lanka, Oman, Singapore and the United States as part of maximising its geo-strategic reach and increased global footprint," he said.

BEL achieved export sales of 48.59 million dollars during FY 2019-20. Major products exported include cable looms, coastal surveillance system spares, radar, compact multi-purpose advanced stabilisation system (CoMPASS) and electro mechanical parts.

(ANI)


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