BEL targets Rs 63 bn turnover this year

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Bharat Electronics Ltd is targeting a turnover of Rs 6,300 crore for the current financial year “based on a healthy order book’’, Chairman and Managing Director Anil Kumar has said in the company’s Annual Report for 2011-12 released last week. BEL, a public sector undertaking under the control of the Ministry of Defence, has order book worth Rs 27,000 crore, more than half of it for the supply of components and integration services for the Akash Missile Systems project In 2011-12, the company achieved a turnover of Rs 5,703 crore and a net profit of Rs 830 crore. Net profit was a shade lower than in the previous year, and the 3.66 per cent fall has been attributed to “higher employee cost and high material content and lower value-addition due to the nature of contracts executed’’.

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