Bharat Electronics Ltd 2018-19 revenue up 16%

State-run Bharat Electronics Ltd (BEL) on Monday reported a revenue of Rs 11,700 crore (provisional) for financial year 2018-19, registering a 16 per cent annual growth over the revenue of Rs 10,085 crore in fiscal 2017-18.

"We have achieved a sustaining double digit growth of 16 per cent over the previous fiscal in sales turnover," said the city-based defence behemoth in a statement here.

The company earned $21.9 million (Rs 152 crore) from export sales during the fiscal under review.

Major products exported during the fiscal were coastal surveillance system spares, accoustic test facility, copmpass, cable looms and electro mechanical parts.

The order book of Rs 51,600 crore, includes an all-time high order of Rs 23,200 crore.

Among the major orders are for long-range surface to air missile system, electronic fuze, L70 gun upgrade, weapon repair facility for naval ships, Kerala-fibre optics network, smart city projects, integrated perimeter security solution, video surveillance system, naval airfield integrated security system and real time information system.

Some of the flagship projects executed during the fiscal were integrated air command and control system, weapon locating radar, integrated communication system, long range surface-to-air missile system, ground-based electronic warfare system, electronic voting machines (EVMs) and the Voter Verifiable Paper Audit Trail (VVPAT).

"We strive to attain self-reliance through indigenisation, expansion and modernisation, and outsourcing to domestic industries, especially in the SME sector," said BEL Chairman and Managing Director M.V. Gowtama.

The company has rolled out plans to optimize its global outreach and increase footprint in international market segments.

"All these efforts will help us consolidate our market leadership in the strategic electronics sector," the statement added.

The company's scrip of Re 1 face value traded on the BSE at Rs 96.50 per share in Monday's afternoon session, gaining Rs 3.20 over the previous closing rate of Rs 93.30.

--IANS

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