September 26, 2023

Times One Odia

Odia News Portal

After IAF, BEL bags orders worth Rs 43,00 crore from army, navy

2 min read

Bharat Electronics Ltd (BEL) has signed contracts worth Rs 4,300 crore to supply warfare systems to the Indian Army and Indian Navy, the defence PSU said.

This is its second order win in as many days for the company. BEL will supply Integrated Electronic Warfare Systems worth Rs 3000 crore to the army. “These systems will be a real force multiplier and will further enhance the electronic warfare capability of the Indian Army,” the company said on March 24. It has received several orders worth Rs 1,300 crore from the navy for the supply of indigenously developed fire control, gun fire control, surveillance, tracking, ESM, sonar systems, etc.

On March 23, BEL had signedtwo contracts worth of Rs 3,800 crorewith the defence ministry for supplying Medium Power Radar and Digital Radar Warning Receiver (RWR) to the Indian Air Force. These projects are in line with the government’s Atmanirbhar Bharat Abhiyaan and Make in India initiative, the company said. The aerospace and defence electronics manufacturer expects to clock aggregate orders worth over Rs 20,000 crore each in the current fiscal and in FY24. However, its order book grew Rs 1,452 crore during Q3 and by Rs 3,736 crore in the first nine months of FY23. Major orders expected are Himshakti programme of Rs 3,300 crore, Atulya medium-power radar of Rs 2,000-3,000 crore and orders worth approximately Rs 10,000 crore for radars and Sonar from naval shipyards, ICICI direct Research said. On March 24, the stock closed at Rs 91.60 on the NSE, lower by 0.5 percent from the previous close. It is down 8.63 percent in 2023 so far.

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