Bharat Electronics bags order worth Rs 2,759 crore; complete details inside
The company has accumulated cumulative orders worth Rs. 25,935.15 Crores in the ongoing financial year.
Bharat Electronics a Prominent Central Public sector enterprise company manufactures and supplies electronic equipment and systems to the defence sector. It was established under the Ministry of Defence to cater to the electronic requirements of the Indian Defence. It also holds a designation of “Navratna” PSU company. The company is in the spotlight today due to its significant announcement regarding new orders received by the company from two shipping companies.
According to the press release, Bharat Electronics Limited (BEL) secured orders totalling Rs. 2,673 Crores from Goa Shipyard Limited (with a value of Rs. 1,701 Crores) and Garden Reach Shipbuilders & Engineers (with a value of Rs. 972 Crores) for the supply of 14 types of sensors designed for the Next Generation Offshore Patrol Vessels (NGOPV). This project involves the participation of electronics and associated industries, including Micro, Small, and Medium Enterprises (MSMEs), which serve as sub-vendors for BEL. The equipment manufactured by BEL contributes to the ‘Atmanirbhar Bharat’ program.
The company has also received additional orders worth Rs. 86.15 Crores since the last disclosure on 15th December 2023. These orders pertain to miscellaneous spares and services. With these latest developments, BEL has accumulated cumulative orders worth Rs. 25,935.15 Crores in the ongoing financial year.
At the start of the day’s trading session, the stock opened at Rs 172.35 per share, indicating an approximate 1% increase compared to the previous day’s closing figure of Rs 170.60 per share on the BSE. As of the time of writing this article, the shares are currently at Rs 174.20 per share on the BSE.
The company’s current market capitalisation stands at Rs 1,27,300 crore, and the stock has generated an impressive return of 77% during the past one year and around 366% return in the past three years.
Bharat Electronics Limited is an India-based company that manufactures and supplies electronic equipment and systems for both the defence sector and non-defence markets. Its defence products encompass navigation systems, defence communication products, land-based radars, naval systems, electronic warfare systems, avionics, electro-optics, tank and armoured fighting vehicle electronic systems, weapon systems, simulators, and other related items. In the non-defence sector, the company provides cyber security, e-mobility, railways, e-governance systems, homeland security, civilian radars, turnkey projects, components/devices, and telecom and broadcast systems. Additionally, it provides services for designing and manufacturing optical and optoelectronic products and components operating in the UV, Visible, and IR spectrums.
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