BEL clocks record turnover of Rs 13,500 crore in FY21

Bharat Electronics (BEL) said it achieved a turnover of about Rs 13,500 crore during financial year 2020-21, up 7.07% compared with previous year's turnover of Rs 12,608 crore.

BEL's order book as on 1 April 2021 is around Rs 53,000 crore. In the year 2020-21, the company secured significant orders worth Rs 15,000 crore. The company achieved export sales of around $50 million during FY 2020-21.

BEL's chairman & managing director M V Gowtama said: "BEL will continue its efforts in becoming self-reliant through enhanced focus on indigenization, outsourcing to domestic industry with more thrust on MSME & GeM procurement and thus minimizing import dependency. The company is poised to explore & tap new growth areas and new business avenues through continuous diversification, enhancement of capabilities & competitiveness, modernization etc.

BEL has forayed into new potential business segments viz., healthcare solutions, network & cyber security, space electronics, energy storage systems, software etc., and is confident of making significant headway in these segments in the years to come."

BEL is a state-owned aerospace and defense company with about nine factories, and several regional offices in India. It primarily manufactures advanced electronic products for the Indian Armed Forces. The Government of India held 51.14% stake in BEL as on 31 December 2020.

The scrip rose 0.72% to Rs 126 on the BSE. It traded in the range of 124.35 and 126.95 so far during the day.

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