Defence Public Sector Unit (DPSU) Bharat Electronics Limited (BEL), a leading aerospace and defence electronics company, announced on Friday that it has secured an export order valued at €25.75 million (approximately Rs 230 crore) from Thales Reliance Defence Systems (TRDS). This order is for manufacturing and supplying transmit-receive (TR) modules for fighter aircraft radars.
In addition to this significant export order, BEL has also secured domestic orders worth Rs 192 crores since its last disclosure on 28 June. These new orders include communication equipment, encryptors, spares, and services for radars and fire control systems.
With these latest contracts, BEL has amassed a total order value of Rs 5,225 crore in the current financial year, underscoring its robust position in the defence sector and its ongoing success in both domestic and international markets.
Shares of the state-owned defence and aerospace company Bharat Electronics Limited (BEL) have been intermittently reaching all-time highs, driven by a series of substantial orders secured over the past few months. In 2024, BEL’s shares have remarkably grown, rising 80 per cent cumulatively. Over the past five years, Bharat Electronics Limited (BEL) has delivered approximately 840 per cent returns to its shareholders. The central government has set an ambitious target to achieve indigenous defence manufacturing worth Rs 175,000 crore, including defence exports of Rs 35,000 crore, by 2024-25.
The government has implemented several policy initiatives and reforms in recent years to encourage the indigenous design, development, and manufacture of defence equipment, thereby promoting self-reliance in defence manufacturing. Significant investments are being made in the defence and aerospace sectors, establishing several defence hubs across the country. Indian Defence Public Sector Units (PSUs) have seen substantial returns on equities in recent years, benefiting from a surge in fresh orders. Notably, many global companies have either shared or expressed intent to share critical defence and aerospace knowledge with India, further bolstering the sector’s growth.
India’s defence exports reached a record Rs 21,083 crore (approximately USD 2.63 billion) in the financial year 2023-24, marking a growth of 32.5 per cent over the previous fiscal year’s figure of Rs 15,920 crore. These recent statistics show that defence exports have increased 31-fold over the past decade compared to 2013-14. Additionally, India’s total value of defence production rose by 17 per cent, reaching Rs 1,26,887 crore in the last fiscal year.
Team BharatShakti
