BEL edges higher after bagging contract worth Rs 561 crore

Bharat Electronics added 1.02% to Rs 262.20 after the company announced that it has secured additional orders worth Rs 561 crore since 23 December 2024.

In a regulatory filing made after market hours on Monday, the company stated that major orders received include contract for supply of communication equipment, electro optics, upgrades for satcom network, radar & fire control system, spares, services etc.

"With these orders, BEL has now accumulated orders totalling Rs 10,362 crore in the current financial year, the company said in a statement.

Navratna PSU BEL is a multi-product, multi-technology, multi-Unit conglomerate which designs, manufactures and supplies products and systems in a wide variety of fields including radars, missile systems, military communications, naval systems, electronic warfare & avionics, C4I systems, electro optics, tank electronics & gun/weapon system upgrades, and electronic fuzes in the defence segment. As on 31 September 2024, the Government of India held 51.14% stake in the company.

The company reported 35.22% growth in consolidated net profit to Rs 1,450.88 crore on 14.78% rise in net sales to Rs 4,583.41 crore in Q2 FY25 over Q2 FY24.

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