BEL bags order worth Rs 3,172 crore from Armoured Vehicles Nigam

Bharat Electronics (BEL) said that it has signed a contract valued at Rs 3,172 crore with Armoured Vehicles Nigam (AVNL) on 28 June 2024 at AVNL Headquarters in Chennai.

The project entails the supply and installation of an advanced, indigenously designed and developed sighting and fire control system (FCS) for the upgrade of BMP 2/2K Tanks of the Indian Army, along with a comprehensive engineering support package.

Additionally, BEL has secured other orders valued at Rs 481 crore following the last disclosure on 22 May 2024 which comprises of doppler weather radar, classroom jammers, spares and services etc.

"With these, BEL has received accumulated orders totalling Rs 4,803 crore in the current financial year, the Navratna Defence public sector undertaking 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 March 2024, the Government of India held 51.14% stake in the company.

The company reported 30.04% growth in consolidated net profit to Rs 1,797.11 crore in Q4 FY24 as against Rs 1,382.02 crore in Q4 FY23. Revenue from operations jumped 32.18% year on year (YoY) to Rs 8,564.08 crore in the quarter ended 31 March 2024.

The scrip had risen 0.56% to end at Rs 306.20 on the BSE on Friday.

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