Bharat Electronics Limited (BEL) on Tuesday said that it has received orders worth Rs 5,900 crore as of June 20 in the financial year 2023-24. “BEL received orders for two regiments of Improved Akash Weapon System (AWS) with upgrades from BDL for a value of Rs 3,914 crore,” it said in a regulatory filing.
Akash is an all-weather, point/area air-defence weapon system intended for defending vulnerable points/areas against threats emanating from low, medium and high altitudes. The system uses high mobility vehicles for mobile application. “The improvements incorporated include high altitude operation, simultaneous engagement of multiple threats over 360 degrees, missiles fitted with RF Seeker and reduced footprint,” it said.
Other significant orders received, BEL stated, include orders for Shakti EW & Sanket MK III (Naval Systems), GBMES & GBVU Com Jammer systems, MKBT systems, IFF-MKXII Crypto Modules & Upgradation of SDP & Display of Rohini Radar, Training system for CMS P15B & CAMC of CMS for P 28, etc.
Commenting on the same, Amit Anwani, Research Analyst, Prabhudas Lilladher Pvt Ltd, said, “We believe it will be able to meet management guidance of order inflows of Rs 200 billion in FY24, driven by strong order pipeline comprising of equipment for shipbuilding, electronic warfare system, fuse requirement by army, etc. We remain positive on long-term growth story of BEL.
Earlier in May, BEL posted profit for the fiscal fourth quarter ended March 2023 at Rs 1382.02 crore, up 19.7 per cent as against Rs 1154.20 crore in the same quarter last year. It posted revenue from operations at Rs 6479.12 crore in comparison to Rs 6339.81 crore in the fourth quarter of FY22.