BEL posts Rs 1,809 crore profit after tax

Public sector defence major Bharat Electronics Limited (BEL) on Wednesday said it logged a profit after tax of Rs 1,809 crore in financial year 2015-16, rising from Rs 1,467 crore in 2014-15.

"We had a good financial year in 2015-16, with an impressive jump in the order book," said BEL Chairman SK Sharma.

While the company registered a turnover of Rs 7,522 crore in 2015-16 compared to Rs 6,695 crore in 2014-15, the order book value as on April 1, 2016, stood at Rs 32,022 crore, increasing from Rs 21,617 crore in 2014-15.

With an export growth of 47%, the BEL's exports rose to $85 million in the analysed year from $58 million in the last financial year.

"Highlights of 2015-16 include 12% growth in turnover, induction of Akash missile system into the Indian Air Force and Indian Army, and an excellent MoU rating for 2014-15," said Sharma.

Major order received in 2014-15 included Integrated Air Command Control System, Weapon Locating Radar from the artillery division of the army and Hand Held Thermal Imager with LRF from the Army Infantry, which is being produced in Machilipatnam unit.

Other orders include Ground-based Mobile ELINT under the electronic warfare, Integrated Communication System and improved USHUS sonar for submarines, said Sharma.

Electronic Fuze being developed with a foreign original equipment manufacturer, Armoured Engineer Reconnaissance Vehicle and electronic warfare Shakti System for P71 tank complete the order book.

Talking about executed orders in financial year 2015-16, Sharma said, "Akash weapons system, 3-D tactical control radar, Schilka upgrade and passive night vision device for the Indian Army and low-level lightweight radar to Air Force among others."

Fire control system, new generation sonars and integrated sonar suite, ship data network to navy and L Band surveillance radar for export to Myanmar are the other executed orders.

Under new products introduced in the reviewed fiscal, 3-D surveillance radar, coastal surveillance radar, 2-D air surveillance radar, software defined radio (Naval version), tactical access switch, laser warning system and gunner sight for T90 tank among others featured.