Bhanu Prakash Srivastava, the Chairman and Managing Director of Bharat Electronics Limited (BEL), expects order inflow for financial year 2024 to cross the ₹25,000-crore mark. As of now, the order book stands at around ₹23,200 crore order book.
Srivastava said the defence and aerospace major's order for Early Warning (EW) system for ships, which is around ₹2,000 crore, is expected to fructify this financial year.
On December 15, the Bengaluru-based BEL also signed a significant contract with the Ministry of Defence for the procurement of electronic fuses for the Indian Army. The 10-year contract, valued at ₹5,336.25 crore, aligns with the 'Aatmanirbhar Bharat' vision and falls under the government's initiative for the 'Manufacture of Ammunition for Indian Army by Indian Industry.'
The project aims to build ammunition stocks, minimise imports, achieve self-sufficiency in ammunition manufacturing, obtain critical technologies, and secure stock affected by supply chain disruptions.
The strong order book has reflected in the company's stock performance. Shares of BEL have gained over 70% year-to-date.
The company has a 15% revenue growth guidance for FY24 with margin guidance of 21-23%.
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