The Ministry of Defence has signed three Memorandum of Understanding (MoU) with Bharat Electronics Limited (BEL), Bharat Earth Movers Limited (BEML), and Mishra Dhatu Nigam Limited (Midhani) for the indigenous development of Advanced Fuelling and Control Systems for engines used for heavy applications.
Bharat Electronics Limited
Bharat Electronics Limited (BEL) is a Navratna central public sector enterprise that operates in the aerospace and defence sector, it primarily manufactures advanced electronic products for ground and aerospace applications.
With a market capitalization of Rs. 1,54,712 Crores, the shares of Bharat Electronics Limited were trading at Rs. 211.65, up 1 percent from its previous day’s close price of Rs. 209.60.
As per the recent press release, Bharat Electronics Limited has received cumulative orders of Rs. 30,776.06 Crores in the current financial year.
Its revenue from operations grew by 15.40 percent from Rs. 15,368 Crores in FY22 to Rs. 17,734 Crores in FY23, accompanied by profits of Rs. 2,400 Crores to Rs. 2,986 Crores.
Bharat Earth Movers Limited
Bharat Earth Movers Limited Limited (BEML) is engaged in the business of manufacturing and supplying a wide range of heavy earthmoving equipment catering to the mining and construction industry, vehicles for defense forces, and aluminum wagons, coaches for the metro, and many more for the Railways.
As per the latest data available for Q3FY24, Bharat Earth Movers Limited has an order book of Rs. 12,230 Crores.
With a market capitalization of Rs. 13,652 Crores, the shares of Bharat Earth Movers Limited (BEML) were trading at Rs. 3,278, up 2.14 percent from its previous day’s close price of Rs. 3,209.65.
Its revenue from operations declined by 10.11 percent from Rs. 4,337 Crores in FY22 to Rs. 3,899 Crores in FY23, accompanied by increasing profits of Rs. 129 Crores to Rs. 158 Crores.
Mishra Dhatu Nigam Limited
Mishra Dhatu Nigam is engaged in the business of manufacturing superalloys, titanium, special-purpose steel and other special metals used in industries like defence, aerospace and others.
With a market capitalization of Rs. 8,140 Crores, the shares of Mishra Dhatu Nigam Limited were trading at Rs. 434.45, up 3.26 percent from its previous day’s close price of Rs. 420.75.
As per the data available on April 2023, it has a strong order book worth Rs. 1,331 Crores.
Its revenue from operations grew by 1.45 percent from Rs. 859 Crores in FY22 to Rs. 872 Crores in FY23, accompanied by profits of Rs. 176 Crores to Rs. 156 Crores.
Written by: Bharath K.S
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