Bharat Electronics Ltd is engaged in manufacture and supply of strategic electronic products primarily to Defense Services. The company exported a range of products and sub-assemblies exported includes LYNX II radar warning receivers composite communication system night vision devices versatile communication system (VCS) IFF Interrogator LRF X-Ray tube radar finger printing system ESM system V/ultra high frequency (UHF) search receivers shelters printed circuit board (PCB) assembly cable harness components and mechanical assemblies. Bharat Electronics Ltd was set up at Bangalore India by the Government of India under the Ministry of Defence in the year 1954 to meet the specialized electronic needs of the Indian defence services. Over the years then company has grown into a multi-product multi-technology multi-unit company serving the needs of customers in diverse fields in India and abroad. The company started with the manufacture of few communication equipment in the year 1956. They went on to produce Receiving Valves in the year 1961 Germanium Semiconductors in the year 1962 and Radio Transmitters for AIR in the year 1964. In the year 1966 the company set up a Radar manufacturing facility for the Army and in-house R&D. In the year 1967 they started manufacture of Transmitting Tubes Silicon Devices and Integrated Circuits. In the year 1968 they established the PCB manufacturing facility. In the year 1970 the company started manufacture of Black & White TV Picture Tube X-ray Tube and Microwave Tubes. In the year 1971 they set up facilities for manufacture of Integrated Circuits and Hybrid Micro Circuits. In the year 1972 they started manufacturing TV Transmitters for Doordarshan. In the year 1973 they started manufacture of Frigate Radars for the Navy. Under the government's policy of decentralization and due to strategic reasons the company ventured to set up new Units at various places. In the year 1974 the company set up their second unit at Ghaziabad to manufacture Radars and Tropo communication equipment for the Indian Air Force. In the year 1979 they established their third Unit at Pune to manufacture Image Converter and Image Intensifier Tubes. In the year 1980 the company's first overseas office was set up at New York for procurement of components and materials. In the year 1981 the company set up a manufacturing facility for Magnesium Manganese Dioxide batteries at the Pune Unit. In the year 1982 they set up the Space Electronic Division at Bangalore to support the satellite programme. In the year 1983 the company took over an ailing Andhra Scientific Company (ASCO) as the fourth manufacturing Unit at Machilipatnam. In the year 1985 the company set up their fifth Unit in Chennai for supply of Tank Electronics with proximity to HVF Avadi. Also they set up their sixth Unit at Panchkula to manufacture Military Communication equipment. In the year 1985 the company started manufacturing on a large scale Low Power TV Transmitters and TVROs for the expansion of Doordarshan's coverage. In the year 1986 the company set up their seventh Unit at Kotdwara to manufacture Switching Equipment. They set up their eighth Unit to manufacture TV Glass Shell at Taloja (Navi Mumbai). Also they set up their ninth Unit at Hyderabad to manufacture Electronic Warfare Equipment. In the year 1987 the company set up a separate Naval Equipment Division at Bangalore to give greater focus to Naval projects. In the year 1988 they established first Central Research Laboratory at Bangalore to focus on futuristic R&D. In the year 1989 the company started the manufacture of Telecom Switching and Transmission Systems. Also they set up the Mass Manufacturing Facility in Bangalore and the manufacture of the first batch of 75000 Electronic Voting Machines. In the year 1990 the company entered an agreement Delft of Holland for setting up first joint venture company BE DELFT. Later the joint venture company became a subsidiary of the company with the exit of the foreign partner and was renamed BEL Optronic Devices Ltd.In the year 1992 the company established their second Central Research Laboratory at Ghaziabad. Also the company made their first disinvestment (20%) and their shares were listed on the Bangalore and Mumbai Stock Exchanges. During the year 1993-94 the company's Units obtained ISO 9000 certification. In the year 1994 the second disinvestment (4.14%) took place. In the year 1997 GE BEL the joint venture company with GE USA was formed. In the year 1998 the company set up their second overseas office at Singapore to source components from South East Asia. In the year 2000 the company's shares were listed in the National Stock Exchange. In the year 2002 the company became the first defence PSU to get operational Mini Ratna Category I status. In June 16 2007 the company inaugurated the state-of-the-art new building of the Central Research Laboratory of the company at Ghaziabad. They also inaugurated the Near Field Antenna Development and Test Centre at BEL's Ghaziabad Unit. In June 22 2007 the company was conferred the prestigious Navratna status based on their consistent performance. The company has bagged the IETE Corporate Award in August of the year 2007 for performance excellence in the field of software development. During the year 2007-08 the company executed important orders which include STARS V Frequency Hopping a VHF Manpack Transreceiver; Advanced Land Navigation System for Tanks a Command & Control System Command Information and Decision Support System Installation of LINK II System on board Ship Gunners Main Sight EW Systems Flycatcher Radar Surveillance Radar Element Integrated Observation Equipment Hand Held Thermal Imagers Central Acquisition Radar Passive Night Vision Device (both monocular and binocular) and Doppler Weather Radar for prediction of meteorological data. These equipments have been supplied to a wide range of Customers including the Army Navy Air Force Paramilitary forces Indian Meteorological Department and others. The company set up a new DF Range test facility at the Hyderabad Unit for testing calibration and evaluation of ESM Systems. During the year the company signed MoUs with aerospace majors Lockheed Martin &Boeing and global defence companies EADS & Northrop Grumman and other companies like Raytheon Honeywell to exploit opportunities arising out of offsets. They signed an MoU with Elisra Israel for working on various airborne electronic warfare programmes for the Indian defence. Also they signed an MoU with IAI-Malat for working in the field of Unmanned Aerial Vehicles. The company signed an term sheet with Rafael Israel which is expected to lead to the formation of a joint venture for missile electronics and guidance technologies. Also they signed an MoU with Elbit Systems Israel for co-operation in the area of Wireless Local Area Network.During the year 2008-09 the company signed an MoU with Bharat Heavy Electricals Ltd to explore formation of a Joint Venture for solar photovoltaic business. They signed an MoU with Boeing to jointly develop an analysis and experimentation centre in India to offer customers the ability to make better-informed decisions in modernising the Country's defence forces. They signed an MoU signed with Astra Microwave Products Ltd for setting up of a Joint Venture for microwave components. They signed an MoU with Selex Galileo for collaboration on Electronic Warfare programmes. Also they company was selected by Northrop Grumman Corporation for the manufacture of components for Fire Control Radar for its Fighter Aircraft programme.During the year 2009-10 the company introduced some new products namely Integrated Air Command and Control System Advanced Naval Gun Fire Control System for IN Ships Gap Measuring Device Mk III Perimeter Security Jammer Frequency Hopping HF Transreceivers for paramilitary forces Data Facility Kit for VHF radios and V / UHF Protocol Analyzer. The company set up a state-of-the-art integrated manufacturing facility for assembly inspection and testing of Digital Flight Control Computer (DFCC) all under one roof. During the year 2010-11 the company supplied some of the important equipment / systems to customers which includes 3-D Central Acquisition Radar (Rohini) Surveillance Radar Element Artillery Combat Command Control System Battle Field Surveillance Radar L-Band Surveillance Radar Fire Control Systems Shipborne Electronic Warfare System Integrated Communication Network System for ships Mobile Radar band Electronic Intelligence System Mobile Communication Terminal Handheld UHF Radios Secure Communication Network Passive Night Vision Weapon Sight and Doppler Weather Radar.In December 2010 the company handed over four numbers of India's first wholly indigenous Nuclear Biological and Chemical (NBC) Recce Vehicles designed and developed by DRDO and integrated with NBC instruments at BEL's Pune Unit to Indian Army. The NBC Recce Vehicle surveys detects identifies and marks areas of radiological and chemical contamination. In December 24 2010 the company inaugurated a modern D&E facility at BEL's Hyderabad Unit which is equipped with Embedded Systems Lab Software Development Lab Communication Systems and Integration Labs Video Conferencing etc. In February 8 2011 the company inaugurated the company's Product Support Centre at Kalamassery in Kochi Kerala to provide waterfront support for the Southern Naval Command and to support outsourcing of Naval system projects to BEL's outsourcing partner KELTRON. The company is in the process of signing a Technology Collaboration Agreement (TCA) with Optelian International Corporation for establishing a long-term partnership between the two Companies for the manufacture and design of optical networking systems in India. BEL expects to address a business of about Rs 60000 lakh in the next five years from this initiative.The company is in discussions with a reputed foreign OEM for forming an Indian Joint Venture in the area of civilian radars & select defence radars. The business plan for setting up a JVC with BHEL for manufacture of Solar PV wafers cells and modules was finalized. The company is working on establishing a Company for the design development and manufacture of RF and Microwave components and subsystems.In 2012 Bharat Electronics Limited India (BEL) signed an MoU with Israel Aerospace Industries (IAI) for cooperation on future Long Range Surface to Air Missile (LRSAM) Ship-defence Systems'. In 2014 the company has decided to form a Joint Venture Company (JVC) with Thales Air Systems SA France and Thales India in Radar Business Area. In 2015 The Company has allotted the Bonus Shares to its shareholders in the Ratio of 2:1.On 31 May 2016 Bharat Electronics announced that it will inaugurate an 8.4 MW wind energy power plant at Hanumanthappa site Harappanahalli in the Davangere district of Karnataka for captive consumption of energy for its factory at Bengaluru on 2 June 2016.The Board of Directors of Bharat Electronics at its meeting held on 5 August 2016 approved the proposal to buyback of not exceeding 1.66 crore equity shares of the company representing 6.93% of the total number of equity shares in the paid-up share capital of the company at a price of Rs 1305 per share payable in cash for an aggregate consideration not exceeding Rs 2171.15 crore which is not exceeding 25% of the aggregate of the fully paid-up share capital and free reserves as per audited accounts of the company for the financial year ended 31 March 2016 from all the equity shareholders of the company as on the record date on a proportionate basis through the Tender Offer route. The Board of Directors noted the intention of the Promoter of the Company to participate in the proposed Buyback. On 17 September 2016 Bharat Electronics announced that foundation stone for the company's Advanced Night Vision Products factory at Nimmaluru Krishna district Andhra Pradesh will be laid on 19 September 2016. It will be the largest such facility in the country once it is commissioned covering an area of over 50 acres. The Advanced Night Vision Products factory will enable Bharat Electronics to expand its Electro-Optics business and carry out manufacturing and integration for the ongoing and upcoming projects.The Board of Directors of Bharat Electronics at its meeting held on27 January 2017 approved sub-division of existing one equity share of Rs 10 each face value fully paid-up into 10 number of equity shares of Re 1 each face value.On 14 February 2017 Bharat Electronics Ltd (BEL) unveiled a new Weapon Control system - Remote Controlled Weapon Station (RCWS)/Air Defence Weapon Station (ADWS) for 12.7 mm Gun of MBT Arjun Mk II battle tank at Aero India 2017. The RCWS is an improvised version of the manually operated air defence gun.On 15 February 2017 Bharat Electronics announced that Elbit Systems Electro-Optics Elop Ltd (ELOP) Israel has awarded the company an Offset Contract for the supply of 10 numbers of CoMPASS Systems for use in the Light Combat Helicopters (LCH) being manufactured by Hindustan Aeronautics Limited (HAL). BEL received the CoMPASS Offset Contract at Aero India 2017 Bengaluru. BEL has entered into a Technical Collaboration Agreement with ELOP for the joint production and D-Level maintenance of Compact Multi-Purpose Advanced Stabilised System (CoMPASS the trade name for EO/IR payload) for the helicopter programmes. BEL has absorbed transfer of technology (ToT) for production and maintenance of CoMPASS in India. The CoMPASS is a day-and-night surveillance system that includes a colour TV daylight camera 3rd Generation 3-5 fm Forward Looking Infrared (FLIR) sensor Laser Target Designator and Range Finder (LTDRF) and automatic tracking capabilities as well as command and control capabilities. On 22 and 23 February 2017 the Government of India completed divestment of 5% stake in Bharat Electronics through Offer for Sale via the stock exchanges mechanism. Post the stake-sale Government of India's stake in the company declined to 69.41% from 74.41%.The Board of Directors of Bharat Electronics at its meeting held on 10 August 2017 approved the proposal for issue of bonus shares to the existing shareholders of the company in the ratio of 1:10.The Board of Directors of Bharat Electronics at its meeting held on 30 January 2018 approved the proposal to buyback of not exceeding 2.03 crore equity shares of the company representing 0.83% of the total number of equity shares in the paid-up share capital of the company at a price of Rs 182.50 per equity share payable in cash for an aggregate consideration not exceeding Rs 372.25 crore representing 5% of the aggregate of the fully paid-up equity share capital and free reserves as per the audited standalone financial statements of the company for the financial year ended 31 March 2017 from all the equity shareholders of the company on a proportionate basis through a Tender Offer route. The Board of Directors noted the intention of the Promoter of the Company to participate in the proposed Buyback. On 2 April 2018 Bharat Electronics announced that it has achieved landmark turnover of more than Rs 10000 crore (Provisional & Unaudited) during 2017-18 sustaining the double digit growth over the previous year's turnover of Rs 8825 crore.Bharat Electronics Limited (BEL) and Larsen & Toubro signed an MoU on 11 April 2018 at Defexpo 2018 in Chennai to share their expertise in design development engineering and manufacturing to develop and produce products and systems to meet the requirement of the defence services as well as for export markets. BEL and L&T have agreed to explore and address defence products/systems for the Indian Defence Services as well as export opportunities. BEL has expertise in design development engineering manufacture of Radar & Weapon Systems NCS and Communications systems Electronic Warfare & Avionics Naval Systems Electro-optics products Tank Electronics & Gun Systems Satcom systems Strategic Components and Civilian products while L&T has expertise in design engineering and manufacture of Defence systems Platforms and Weapon delivery Armoured platforms and Fire control systems Military Communication Naval Equipment Warships & Submarines. The MoU sets to define the roles and responsibilities of both the companies to cooperate and work in partnership mode for select programmes and thus give a boost to indigenous defence production. This collaboration will support the Make in India mission.On 11 April 2018 Bharat Electronics announced the launch of eight new products at Defexpo 2018 in Chennai. The products launched are - 100 Mbps Radio Secure Military Wireless Local Area Network Multi-Function Hand Held Thermal Imager Long Range Surveillance System Chemical Agent Monitor (CAM) Multi-Purpose Reflex Weapon Sight Light Weight Composite Shelter and Mine Field Recording System.On 12 April 2018 at DefExpo 2018 in Chennai Bharat Electronics Limited (BEL) and Mahindra Defence Systems Limited committed to a long-term partnership through a MoU to jointly address emerging opportunities in the domestic market under the policy initiatives of the Government of India like Make in India and the Export Promotion Policy of the Ministry of Defence to target the export market. BEL has the expertise in design development engineering manufacture of Radar & Weapon Systems NCS and Communications systems Electronic Warfare & Avionics Naval Systems Electro-optics products Tank Electronics & Gun Systems Satcom systems Strategic Components and select Civilian products while Mahindra Defence has the expertise in manufacture maintenance of Defence equipment Light Military Vehicle Armoured Vehicles Aerospace/Aviation Platforms Simulators Electronics Airborne Equipment Naval Equipment and materials for Defence sector.