BEL achieved turnover of INR 11,789 Crores (audited) during the Financial Year 2018-19, registering a growth of 17% over the previous year turnover of INR 10,085 Crores.
These details were revealed at BEL CMD’s annual press conference held in Bengaluru on June 1, 2019. BEL CMD M.V Gowthama briefed the media on the occasion. The CMD said that BEL achieved turnover of INR 11,789 Crores (audited) during the Financial Year 2018-19, registering a growth of 17% over the previous year turnover of INR 10,085 Crores.
He revealed that BEL’s Profit Before Tax for FY 2018-19 was INR 2,703 Crores compared to INR 1,948 Crores in 2017-18. The Profit After Tax was INR 1,927 Crores as against INR 1,399 Crores in the previous year. The Company recorded an export turnover of USD 21.6 million, as against USD 26 million in 2017-18.
The order book value as on April 1, 2019, stood at INR 51,798 crores as compared to INR 40,115 Crores in April 2018. The expenditure on R&D was INR 1,077 Crores as against INR 988 Crores in 2017-18.
The CMD pointed out that BEL had delivered vital components for the LRSAM and MRSAM. “When it comes to Akash missile system, the BEL CMD said that, “We took the complete seeker technology from DRDO. We manufactured, assembled, integrated, tested and finally handed over the seeker to DRDO.”
Talking about the Akash Ng or Next Generation system, the BEL CMD said that work was progressing. “The Army has issued RFP to BDL. BDL is developing the land version of the system. Being a partner to BDL, we have responded to the enquiry. We expect Army to negotiate and finalise the order within the financial year,” he added.
Responding to the EVM controversy, Gowthama said, “there was not a single case of mismatch between EVMs and VVPATs supplied by BEL.” He further added that over 10 lakh EVMs were supplied by BEL to the Election Commission with the rest being procured from ECIL.
Some of the significant orders executed during the year included supply of Integrated Air Command & Control System, Electronic Voting Machine, Voter Verifiable Paper Audit Trail, Weapon Locating Radar, Ground based Mobile Electronic Intelligence System, Low Intensity Conflict Electronic Warfare System (LIC EWS), Schilka Upgrade, TROPO Upgrade and L70 Gun Upgrade.
Some of the new products / systems introduced during the year were Real Time Information System for Indian Railways, Auto Fare Collection Gate (SWAGAT), Drone Guard System, EO System for Home Land Security, Integrated Communication System for Indian Navy, Coastal Surveillance System for Seychelles, Fire Control System, Image Intensifier based Passive Night Vision Devices, Indigenous Electronic upgrade for 52 calibre Gun, Corner Shot Weapon System, Target Acquisition System for Man Portable Anti-Tank Guided Missile, IFF System for MRSAM Phase II, Virtual Reality Simulator, Electric motor for T-90 Tank Stabilizer, Battery Multi-Function Radar vehicle and Battery Surveillance Radar Vehicle for Missile System and Ku Band RF Seeker.
Major Orders received during 2018-19 include Long Range Surface to Air Missile for P17A project, Smart City Business (North East States & Agra), Integrated Perimeter Security System (IPSS) for Air Force, Kerala Fibre Optic Network (K-Fon), Home Land Security System (Naval Airfield Integrated Security System (NAISS), Naval Equipment (War Reserves), setting up of Weapon Repair Facility at Naval Shipyard and upgradation of Shikari/Lynx Fire Control Systems.
BEL also established state-of-the-art Manufacturing/Test Facilities such as Shock Test Facility, High Temperature Test facility and Surface Mount Technology (SMT) Assembly Line in the last financial year