BEL Ranks 58th among top 100 defence firms worldwide

New Delhi, Aug 8 (UNI) 'Navratna' Defence Public Sector Undertaking Bharat Electronics Limited (BEL) has been ranked 58th in the list of top 100 defence companies in the world.

The list for 2007, released by the US-based 'Defense News' magazine, saw BEL improving its position from 76th last year. The ratings are given based on the Company's defence revenue alone, an official spokesperson said here today.

Sales to the defence segment constituted 76 per cent of BEL's turnover of Rs 3,960.38 crore (provisional) during 2006-07 -- which alone has been considered for the ranking.

BEL is one among the two Indian companies in the Top 100 List of leading defence manufacturers from across the globe.

BEL had been earlier ranked first among medium-sized Aerospace/ Defence companies worldwide for two consecutive years (2004 and 2005) by the McGraw Hill publication 'Aviation Week and Space Technology.' On the ranking, BEL Chairman&Managing Director VVR Sastry said: ''The ranking is a testimony to our commitment to our vision to be a world-class enterprise in professional electronics... Quality, technology and innovation are the engines of growth for BEL....'' BEL, the country's leading defence electronics company, recorded a 12 per cent increase in turnover during 2006-07 from the previous year's turnover of Rs 3,536 crore. The estimated Profit Before Tax is Rs 1.041.63 crore as against the previous year's figure of Rs 855.26 crore -- an increase of 22 per cent.

BEL, which has grown at a CAGR (compound annual growth rate) of 15 per cent during the last 5 years, plans to achieve a billion- dollar-turnover during the current financial year.

The company's core competencies are Research&Development, manufacturing, comprehensive system engineering solutions, contract manufacturing and life-cycle customer support.

UNI