BEL's FY18 revenue up 13% to `10K cr
Bengaluru: State-run Bharat Electronics Ltd (BEL) on Monday said that it sales turnover touched Rs 10,000 crore mark for the fiscal 2017-18, registering 13 per cent annual growth.
"We have achieved a landmark turnover of Rs 10,000 crore for fiscal 2017-18, sustaining double digit growth from Rs 8,825 crore in the previous fiscal 2016-17," said the city-based company in a regulatory filing on the BSE.
The Navratna company, however, did not disclose provisional or unaudited profit before or after tax posted for the fiscal under review.
"The focus on indigenisation for self-reliance has continued, besides capacity building, expansion and enhanced outsourcing to SME sector," said BEL Chairman M.V. Gowtama in a statement.
Though he said the company was able to secure good orders for the new fiscal (2018-19), he did not mention their value or which products and how many of them are for exports.
"The order book will sustain growth, capitalise opportunities and consolidate our market leadership in the defence business," said Gowtama.
Among the flagship projects the company delivered during the fiscal were the integrated air command and control system, weapon locating radar, hand-held thermal imager and Akash weapon system to the Army.
"Naval fire control system, integrated communication system, 3-D tactical control radar electronic warfare systems, L-70 gun upgrade and electronic voting machines (EVMs) and voter verifiable paper audit trail (VVPAT) to the Election Commission were also delivered," noted the statement.
The 64-year-old company also makes a range of products for the defence services, homeland security and the civilian sector.