Bangalore: Defence PSU Bharat Electronics Limited (BEL) on Tuesday said its sales turnover has increased to Rs 5,550 in 2010-11 (provisional) from Rs 5,220 crore in 2009-10, registering a growth of 6.3%.
The estimated Profit Before Tax is at Rs 1,120 crore as against Rs 1,045 crore in 2009-10, BEL chairman and managing director Ashwani Kumar Datt said, adding, the audited results were still awaited.
The PSU registered a growth of 77% in its exports turnover from $23.65 million in 2009-10 to $41.89 million during 2010-11, he told media, after announcing the company’s performance highlights during the year.
“Exports did better than targeted”, he said.
All units continued to achieve profits, he said.
BEL’s order book grew from Rs 11,350 crore to Rs 23,600 crore as on 1 April, 2011.
Supplies to defence contributed to 80% of the turnover. The turnover from indigenously developed products was 78%, he said.
Weapon Systems on account of Akash contributed to 4% of the turnover and the segment was expected to grow in future. Communication contributed to 18%, he added.
The new products for the year included Akash weapon system, Humsa-NG, Semi Ruggedised Automatic Exchange, Lower Power Jammer, Instant Fire Detection and Suppression System and Mobile Communication Terminal.
Talking about its export orders, he said BEL has an export order book of $66.36 million, including offset order of $42.28 million. The export target for 2011-12 is $47 million, he said.
Datt said the company is aiming to reach a turnover of Rs 6,200 crore during 2011-12.
It would work strategically on important projects like Akash weapon system for Indian army, Lightweight Portable Radar, Battlefield Surveillance System. “BEL is aiming to achieve increased growth in offset business exports”, he said.
It is looking at diversifying into new areas of defence and civil segements and giving thrust to inhouse development and strengthening its R&D capabilities.
BEL is in discussion with a reputed foreign OEM on forming an Indian JV in the area of civilian radars and select defence radars, he said.
The plans for setting up a JVC with BHEL for manufacturing solar PV wafers, cells and modules has been finalised. Both the companies are in the process of obtaining approvals from their respective boards, Datt said.
BEL is working on establishing a company for the design, development and manufacture of RF and microwave components and subsystems, he added.
Datt said during 2010-11 the company received significant orders including the Akash Weapon System (Rs 3,619 crore), Battlefield Surveillance System (Rs 2,539 crore), Advanced Gun Fire Control System (Lynx U-2) (Rs 1,676 crore) 3D Tactical Control Radar (Rs 1,439 crore), Passive Night Vision Devices Rs 950 crore, National Population Register (Rs 930 crore).
The orders received included Command Information and Decision Support System (Rs 905 crore), Schilka Upgrade (Rs 747 crore), Lynx Upgrade Rs 415 crore, D-29 Modkit (Rs 403 crore), Digital Radio Trunking System (Rs 275 crore).
The major order executed during the year were the Artillery Command Control System, Surveillance Radar Element, D Central Acquistion Radar, Combat Net Radio, Ground-based MOBILE elint, Rawl 02 mk III, Battlefield Surveillance Radar, he said.
Talking about its R&D initiatives, an official said the company plans to strengthen its R&D by providing independent building structure in the campus for the divisions to work and putting a senior R&D head, so that they can work and plan implementation more effectively.
“The aim was to give focus and a plan: these are the resources, these are facilities and these are plans to develop products in three years”, BEL director (R&D) I V Sarma said.
“We are trying to give a plan for each unit what to do and help them to work in a more systematic manner, keeping in view futuristic products so that we have products by the time services need it,” he said.
“We have drawn up an aggressive R&D roadmap that we will have the state-of-the-art products in the next two to three years,” he said.
“On 22 April, we had a meeting....We have released a three year R&D plan, which defines what needs to be done in next three year. That drives the entire R and d”, he said.
The aim is to close the technology gap in comparison with international players, he said.
A separate unit has been opened at the Hyderabad unit for design and development activities in Electronic warfare systems area.
The gross Research and Development (R&D) expenditure for 2010-11 was Rs 350 crore (provisional), an increase of 11% over the previous year, he added.