BEL eyes 0 million exports in three years
Bangalore, Apr 17: Defence electronics major Bharat Electronics is eyeing a 100 million dollar exports in three years encashing on offset policy in procurement in defence and contract manufacturing.
With an export of 11.6 million dollars last fiscal, BEL today announced that it has export orders to the tune of 13 million orders and another 20 million dollars worth was expected during the first quarter of current fiscal. This was mostly on product exports, BEL Chairman and Managing Directgor V V R Shastry told newsmen here while announcing the company's performance for 2006-07.
He said that BEL has a three pronged strategy to boost its exports. First through product exports oriented mostly towards African, South East Asian and American countries, second through contract manufacturing for European and American companies and thirdly through offset policy from Europe and America. The Company had already signed MoU with four multinationals who were in the race for fat defence orders from India.
He said over the next six years, according to the current estimate the offset policy was expect to provide 10 billion dollars worth of business to Indian companies, both in public and private sector. BEL was working to grab around 20 to 30 per cent of this order.
He said the company would achieve a turnover of one billion dollars during the current fiscal and double it by 2010-11.
He said the fiscal year that just crossed saw the company recording a 12 per cent increase in its turnover at Rs.3960.38 crore with net profit up by 22 per cent at Rs.713.85 crore. nearly 76 per cent of the turnover was from Defence. As on April one this year the company's order book stood at Rs.9000 crore as against Rs.6,600 crore the previous year.
BEL is also sitting pretty with some of its indigenous developments for the defence which would soar its kitty around Rs 4000 crore over the next four to five years. Prominent among them included an Integrated Air Command and Control system for IAF which had a business potential of Rs 300 crore. Other products included a Weapon Locating Radar for Armed Forces to be inducted during 2008-09 and having a business potential of Rs.1400 croe in the next four to five years.
Also successfully developed by BEL was Shakti, an artillery combat command and control system developed by BEL in association with Centre for Artificial Intelligence. Shakti consisted of rugged computers interconnected over Radio Frequency comminication networks to automate functions of artillery. It had a business potential of Rs 1200 crore.
Besides, BEL would also start this year implementing a Rs 500 crore contract with MTNL, a new state-of-the-art call data record based system for customers to receive a single composite bill for all services rendered by the Telecom major. The project to be, implemented in Delhi and Mumbai simultaneously, would cover 3.5 million customers, Mr Shastry said.
UNI