BEL sales up 12 percent in FY 2016

State-run Bharat Electronics Ltd (BEL) had a sales turnover of Rs.7,510 crore in fiscal 2015-16 as against Rs.6,695 crore in 2014-15, registering a 12 percent year-on-year growth.

"Exports for the fiscal under review (FY 2016) grew 47 percent YoY to $85 million from $58 million in FY 2015," the defence behemoth said in a statement here on Friday.

The navratna company delivered to the army, navy and air force Akash missile system, low level light weight radar, naval communication and fire control systems, night vision devices, 3D tactical control radar, Schika weapon upgrade, ship-borne electronic warfare system, hull mounted sonar Humsa 3G, heli-borne surveillance and targeting system and L-70 gun upgrade.

"We have focussed more on self-reliance and capacity building, higher investments in R&D and modernisation and increased outsourcing to the SME sector to tap opportunities in the defence business for higher growth," BEL chairman S.K. Sharma said on the occasion.

The company also paid 25 percent interim dividend of Rs 45 crore for the just-concluded fiscal (FY 2016) on March 4 to the central government, which holds majority equity shares in the listed firm.