{"id":106379,"date":"2023-08-08T12:53:02","date_gmt":"2023-08-08T07:23:02","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=106379"},"modified":"2023-08-08T12:53:04","modified_gmt":"2023-08-08T07:23:04","slug":"bel-eyes-rs-20300-crore-turnover-in-2023-24-with-push-from-indigenous-products-expected-to-drive-growth","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/bel-eyes-rs-20300-crore-turnover-in-2023-24-with-push-from-indigenous-products-expected-to-drive-growth\/","title":{"rendered":"BEL eyes Rs 20,300 crore turnover in 2023-24 with push from indigenous products expected to drive growth"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-159283765\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>State-run Bharat Electronics Limited has set a target of Rs 20,300 crore for financial year 2023-24 as demand for indigenous products is driving growth for the company, its Chairman and Managing Director Bhanu Prakash Srivastava said on Tuesday. He also stated the order book of the &#8216;Navratna&#8217; PSU under the Ministry of Defence stands at around Rs 64,800 crore as on August 1 this year and has plans to start marketing offices in Brazil, Armenia and Kazakhstan, Srivastava said.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1526437235\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>His guided export sales target for 2023-24 is USD 90 million. <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/BEL\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">BEL<\/a><\/strong> achieved a turnover of about Rs 17,300 crore in the previous financial year, a 15% growth. The Government of India, he noted, is focussing on self-reliance to encourage domestic industry and has imposed restrictions on import of certain category of defence equipment.<\/p><p>&#8220;This will enhance the demand for indigenous products and services in the near future,&#8221; he said. &#8220;BEL being a leading indigenous solution provider in defence sector will have more opportunities in the coming years and this will drive the growth of the company&#8221;.<\/p><p>In order to increase indigenisation and value addition, BEL, a technology-oriented company, has been investing approximately six to seven% of its turnover in research and development. Constant efforts in indigenous development has led to achieving about 70 to 80% of turnover from indigenous products, he said.<\/p><div class=\"trade-content_5\" id=\"trade-879889588\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>BEL, Srivastava said, is giving increased thrust to harnessing the export potential of its defence and non-defence products that represent its core areas of business.<\/p><p>&#8220;BEL has broadened its footprints into multiple geographic locations by opening overseas marketing offices in Vietnam, Sri Lanka, Oman, the United States, Singapore, Nigeria and plans to start marketing offices in Brazil, Armenia and Kazakhstan,&#8221; he said. Also, capex investments like infrastructure and facilities, along with strategic alliances with niche companies, including startups and MSMEs, are also some of the key factors driving the growth of BEL, according to him.<\/p><p>The major orders expected by BEL during 2023-24 are: &#8216;Buyer Nominated Equipment for Ships&#8217;, &#8216;Long Term Electronic Fuzes for Ammunition&#8217;, Radars, Tank Upgrade products and Electronic Warfare Systems for Ships, he said. According to him, the defence segment continues to be BEL&#8217;s main business and provides about 85% of revenues.<\/p><p>Segments like radar and missile systems, communication and network centric systems, anti-submarine warfare and sonar systems, tank electronics, gun upgrades, electro optic systems and electronic warfare and avionics systems would continue to drive the company&#8217;s growth in the coming years.<\/p><p>In non-defence, EVMs, homeland security, Smart City projects are existing business opportunities for BEL. Srivastava said BEL has been putting continuous efforts and focus to enter and address several new areas in both defence and non-defence for further expanding its business in new markets for sustainable growth.<\/p><p>Some of the areas being focussed upon in defence include missile systems, seekers, arms and ammunition, unmanned systems, airborne radars, next-gen solutions for night vision devices, Inertial Navigation Systems (INS), directed energy weapons, countermeasure systems for air platforms, avionics systems for next-gen aircraft\/helicopters, software as a service, network and cybersecurity.<\/p><div class=\"trade-content-10\" id=\"trade-2488818643\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-148704117\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>State-run Bharat Electronics Limited has set a target of Rs 20,300 crore for financial year 2023-24 as demand for indigenous products is driving growth for the company, its Chairman and Managing Director Bhanu Prakash Srivastava said on Tuesday. He also stated the order book of the &#8216;Navratna&#8217; PSU under the Ministry of Defence stands at [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":68963,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-106379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BEL eyes Rs 20,300 crore turnover in 2023-24 with push from indigenous products expected to drive growth - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"State-run Bharat Electronics Limited has set a target of Rs 20,300 crore for financial year 2023-24 as demand for indigenous products is driving growth for the company, its Chairman and Managing Director Bhanu Prakash Srivastava said on Tuesday. He also stated the order book of the &#039;Navratna&#039; PSU under the Ministry of Defence stands at around Rs 64,800 crore as on August 1 this year and has plans to start marketing offices in Brazil, Armenia and Kazakhstan, Srivastava said.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/bel-eyes-rs-20300-crore-turnover-in-2023-24-with-push-from-indigenous-products-expected-to-drive-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BEL eyes Rs 20,300 crore turnover in 2023-24 with push from indigenous products expected to drive growth\" \/>\n<meta property=\"og:description\" content=\"State-run Bharat Electronics Limited has set a target of Rs 20,300 crore for financial year 2023-24 as demand for indigenous products is driving growth for the company, its Chairman and Managing Director Bhanu Prakash Srivastava said on Tuesday. 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