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For the year ended March 2014, BEL achieved an all-time high export sales of $42 million, a growth of 28% over the previous year's export turnover of $32.78 million. The company has an export order book of $194 million as on April 1, 2014, which includes offset order book of $28.45 million, the company said in its annual report.
For the year 2014-15, BEL has set a target of achieving an export turnover of $59.75 million.
During the year 2013-14, for the first time, BEL exported Sonar systems. Other major range of products exported includes Automatic Identification System, Radar Warning Systems, Radar Finger Printing System, Casings, Stators and Electro Mechanical parts among others.
"BEL has established itself as a supply chain partner of global players like Boeing and Hamilton Sunstrand. Last year, the company commenced manufacturing of aircraft cable looms for Pilatus of Switzerland," the company said.
In 2013-14, BEL participated in three international exhibitions to showcase its products and capabilities. The company is also interacting with Ministry of External Affairs for supply of coastal surveillance radar system to friendly countries of India, the annual report said.
BEL is also anticipating sizeable export orders on account of the Offset policy in defence procurements. In this regard, BEL is interacting with many foreign companies like Elbit Systems, Boing, Lockheed Martin, Raytheon, Northrop Grumman, BAE Systems, SAAB, Thales, IAI for possible offset business arising out of various RFPs issued by ministry of defence, government of India. BEL has already signed MoUs with these companies.
For the year ended March 2014, BEL reported a net profit of Rs 932 crore as against Rs 890 crore in the previous year, showing a growth of 4.7%. Its turnover grew marginally by 2.7% to Rs 6,174 crore.
Turnover from indigenously developed products is 85%, of which, 41% came from BEL own products and 44% came from products developed in association with DRDO and other National Labs. The remaining 15% came from products for which technologies were acquired through foreign firms. The defence sector contributed 83% of the total turnover, while the balance came from the civilian business. The order book as on April 1, 2014 stood at Rs 23,452 crore.
The company is aiming at a turnover of Rs 7,000 crore in 2014-15, a growth of 13.4% over the previous year.
