State-owned aerospace and defence electronics company BEL has obtained an export order worth Euro 25.75 million (estimated value of Rs 230 crores) from Thales Reliance Defence Systems
Defence Manufacturer BEL Secures Export Order Worth Rs 230 Crore
State-owned aerospace and defence electronics company BEL has obtained an export order worth Euro 25.75 million (estimated value of Rs 230 crores) from Thales Reliance Defence Systems for the manufacture and supply of transmit-receive modules, the company informed stock exchanges on Friday.
The TR modules will be used in the radars of fighter aircraft.
Additionally, BEL has secured orders valued at Rs 192 crores following the last disclosure on June 28, 2024, which comprises communication equipment, encryptors, spares and services for radars, fire control systems etc. With these, BEL has now accumulated orders totaling Rs 5,225 crores in the current financial year. Shares of state-owned defence and aerospace company Bharat Electronics have been hitting all-time highs on and off, backed by a series of orders the firm received over the past months.
Defence Manufacturer BEL Secures Export Order Worth Rs 230 Crore
At the time of filing this report, the shares were 0.8 percent lower at Rs 332.8, against its all-time high of Rs 340.5 it touched recently. So far in 2024, it rose 80 per cent on a cumulative basis. The central government has set the target of achieving indigenous defence manufacturing worth Rs 175,000 crore including defence exports of Rs 35,000 crore by the year 2024-25.
India’s defence exports have touched a record Rs 21,083 crore in the financial year 2023-24, with a growth of 32.5 percent over the last fiscal when the figure was Rs 15,920 crore. The recent figures indicate that the defence exports have grown by 31 times in the last 10 years as compared to 2013-14. The total value of defence production in India rose 17 per cent to Rs 1,26,887 crore last fiscal year.
Bharat Electronics Limited is an Indian Government-owned aerospace and defence electronics company. It primarily manufactures advanced electronic products for ground and aerospace applications. BEL is one of sixteen PSUs under the Ministry of Defence of India.
