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Business EconomyPosted at: Feb 12 2025 2:38PM


BEL eyes Maharatna status amid record growth

Bengaluru, Feb 12 (UNI) Bharat Electronics Limited (BEL), the state-owned defence and electronics major, is now aiming for Maharatna status, following a stellar financial performance in 2023-24.
The company reported a record turnover of Rs 19,819.93 crore, marking a 14.35 percent growth from Rs 17,333.37 crore in the previous fiscal. The surge was largely driven by strong performance across all segments, with the defence sector contributing 81 per cent to the revenue. Non-defence businesses accounted for the remaining 19 percent.
"BEL's remarkable performance this fiscal is a result of our commitment to innovation, quality, and timely execution of projects," BEL Chairman Manoj Jain said at Aero India 2025.
The company also witnessed a significant 33.7 percent jump in profit after tax, reaching Rs 4,020 crore in FY 2023-24, compared to Rs 3,007 crore in the previous fiscal. Reinforcing its market strength, BEL achieved its highest-ever annual order inflow of Rs 35,046 crore.
As BEL enters FY 2024-25, it anticipates fresh order acquisitions in the range of Rs 25,000 crore. With an order book of approximately Rs 71,000 crore as of January 1, 2025, the company maintains strong revenue visibility. "Our order pipeline remains robust, and we are focused on executing existing projects while securing new ones," Jain stated.
BEL's pursuit of Maharatna status is underpinned by its sustained double-digit revenue growth across both defence and non-defence sectors.
To accelerate its growth, BEL is adopting an integrated strategy spanning R&D, marketing, operations, HR, and finance. The company has identified high-potential areas such as arms and ammunitions, artificial intelligence, cyber security, unmanned systems, and rail & metro, ensuring a diversified and resilient business model.
"Innovation and diversification are key to our future growth. We are actively collaborating with research institutions and industry leaders to stay ahead of the curve," Jain emphasised.
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