Defence Sector Large Cap PSU Company Bags Order Worth Rs 3,000 Crore

The aerospace and defense electronics manufacturer Bharat Electronics Limited (BEL) in an exchange filing on September 15, announced that the company has received orders worth Rs. 3000 Crore, which includes an order worth Rs 2,118.57 Crore from Cochin Shipyard Limited.

The Order is for the supply of various equipment consisting of Sensors, Weapon equipment, Fire Control systems and Communication equipment for six numbers of Next Generation Missile Vessels (NGMV), class of anti-surface warfare corvettes for the Indian Navy.

Indian electronics companies as well as related businesses, including MSMEs that work as BEL's subcontractors, will participate in this project. The equipment manufactured by BEL are part of 'Aatmanirbhar Bharat' program.

The government-owned defense manufacturing firm added that in addition to the order from Cochin Shipyard, it has also received orders totaling Rs. 886 crore for the upgrade of AFNET SATCOM N/W, the upgrade of Akash Missiles with RF Seeker, Inertial Navigation System, and other equipment with accessories and spares, among other things.

"The Company has also received additional orders worth Rs.886 Crore since the last disclosure on 25th August, 2023 and the said orders pertain to Upgrade of AFNET SATCOM N/W, Upgrade of Akash Missiles with RF Seeker, Inertial Navigation System and other equipments with accessories and spares etc," the company stated in the press release.

With these orders, BEL has now received orders for the financial year 2023-24 totaling Rs. 14,384 Crore, according to the release.

Meanwhile, BEL's shares on Friday closed at Rs 135.70 apiece on the BSE with the day's highs and lows of Rs 138 and Rs 135.10, respectively. The market cap of the BEL is Rs 99,193.70 Crore.

Stock declined 5.27% in 1 week. It gained 3.98% in 1 month. In 1 year, it gained 22.20%, while in 2 and 3 years, it gained 96.07% and 288.83%, respectively. It gained 358.91% in 5 years.

Bharat Electronics Limited (BEL) is a Navratna PSU company engaged in specialized electronic equipment manufacturing for the Indian Defence Services. BEL is an Indian state-owned aerospace and defense company with about nine factories and several regional offices in India.