(A) Industry Structure and Developments, Strengths, Weaknesses, Opportunities and
Threats, Major Initiatives undertaken and planned to ensure sustained Performance and Growth: (a) General outlook of the economy, industry in which the Company operates, Government Budget, particularly the Defence Budget, market conditions and how these impact the Company, measures taken / action plan to protect the interest of the Company
T he global economy exhibited steady yet uneven across regions in FY 2023-24, India displaying steady economic growth. As per estimates, in year 2025, Indias real GDP is estimated to grow by 6.2%. India is poised to become the third largest economy, in the next three years with a GDP of USD 5 trillion.
Fiscal disciplines, growth in foreign direct investment (FDI), lower current account deficit, moderate inflation, strong external balances trade surplus and healthy remittance growth contributed to macroeconomic stability. As the world economy recovery is anticipated, the momentum of Indian economic growth is also anticipated to increase and remain one of the strongest economies.
The growth in Indian economy and also the turbulence in the global security environment have given a boost to the defence spending.
Defence
The Ministry of Defence budget estimates reinforce the governments focus on domestic procurement as well as integrated financial planning to meet capital acquisition (modernisation) requirements of the armed forces.
Indian Coast Guard (ICG) has been allocated as Capital expenditure for acquisition of Advanced Light Helicopters (ALH), Dornier Aircraft, Fast Patrol Vessels (FPVs), Training Ships, Interceptor Boats among other equipment. Similarly, the capital expenditure of DRDO is also strengthening for development of new technologies.
To reinforce the governments conscious efforts to strengthen the domestic defence industrial base, in FY 2025-26, three-fourths of the modernisation budget is provisioned for procurement through domestic sources.
Apart from this, Government has given special emphasis to strengthen strategic and dual-use sectors such as ship building and R&D, and give a fillip to the micro, medium and small enterprises (MSMEs), which are increasingly playing a crucial role in the defence industrial base.
Non-Defence
Apart from its core Defence business, BEL has ventured into several non-Defence areas like Homeland Security, Space Electronics, Network & Cyber Security, Rail & Metro solutions, Medical Electronics & Healthcare Solutions, Software Solutions, etc.
Homeland Security
The Homeland Security market in India is spread across Central / State Governments, entities including PSUs and Private Sector Organisations. The Indian security market is poised for rapid growth, with biometrics and smart surveillance emerging as significant segments. A significant market opportunity exists in police modernisation, critical infrastructure protection, border management, counter terrorism activities, urban area security, ground transportation, port & maritime security, etc. Prevailing internal security concerns due to terrorism, cybercrime and natural disasters, growth in public infrastructure, increased IT spending, increase in security spending are boosting demand for the Homeland Security market in India. The future growth and improved security measures will be driven by emphasis on AI, machine learning, IoT, big data analytics and advanced sensor systems.
In the FY 2025-26 budget, the Ministry of Home Affairs (MHA) has been allocated 2.33 Lakh Crore, with an increase of 6% over the revised estimate of 2.2 Lakh Crore for FY 2024-25. Of the Ministrys total budget, 69% of expenditure is on police, wherein 1.6 Lakh Crore has been allocated towards police in comparison to 1.46 Lakh Crore in FY 2024-25. Central Arms Police Force (CAPF) which is primarily responsible for internal security has been allotted 1,09,037 Crore in 2025-26 in comparison to 1,05,647 Crore in previous year with almost 75% of total allocation towards the CRPF, BSF and CISF. Remaining 29% is on grants to UTs and 1% on other items such as disaster management, rehabilitation of refugees and migrants, and conducting the Census.
During FY 2024-25, BEL has successfully completed Go-Live of Emergency Response System (a Next Gen U.P. 112) for Uttar Pradesh Govt. It is an integrated service which includes helplines of Police, Fire, Medical, Women emergencies, disaster support, NHAI support, smart city management etc.
Ener gy Storage Products
Lithium Iron Phosphate (LFP) battery market is growing globally at CAGR 25% and expected to reach USD 124.4 billion by 2032. Indian demand is expected to reach 68,750 Crore by 2028. The expected business potential for BEL in this business is around 350 ~ 400 Crore over a period of 5 years.
BEL is addressing the energy storage product requirement for the niche defence applications. Lithium Iron Phosphate (LFP) cells (10Ah, 25Ah and 50Ah capacities) are being developed and manufactured for making battery packs & systems for various Under Water applications like High Endurance Autonomous Underwater Vehicles and Practice Torpedoes using indigenously manufactured LFP cells. The existing Silver-Zinc batteries used in practice torpedoes will be replaced with LFP battery technology. The LFP cell development and testing phase has been completed successfully and now battery system integration is in progress.
BEL is also developing LFP chemistry based batteries for Armored Fighting Vehicle, Tanks, Artillery Gun systems, Futuristic Infantry Combat Vehicle (FICV) etc. This development will replace the existing lead acid battery and will enhance the cranking performance of vehicles at high altitude and extreme low temperature, improve the endurance, operational life and reduce maintenance needs.
Space Electronics
ISRO has opened up opportunities for manufacturing of Launch Vehicles and small & micro satellites for the Indian industry. ISRO has ambitious plans to increase the number of satellite launches and commensurate with the plans of ISRO, the Department of Space has been allotted a budget of 13,416 Crore in FY 2025-26 compared to 13,043 Crore for the year 2023-24, which is an increase of 2.86%. Out of this, 6,103 Crore is earmarked for capital expenditure which is a push toward satellite technology development and space exploration. India has liberalised its foreign direct investment (FDI) policy, allowing up to 100% FDI under the automatic route for "manufacturing of components and systems/ sub-systems for satellite & ground/user segments", 74% for satellite manufacturing and operation, and 49% for launch vehicles and spaceports.
BEL is one of the major players in ground segment of Satellite Communication and desires to enter into Space Electronic Systems, manufacture of Small & Micro Satellites, Payloads for Satellites and Satellite Communication Services jointly with Indian private industry. BEL has long term objective of becoming a prominent player in Space Based Assets and Payloads.
BEL is a qualified industry partner of ISRO for Assembly, Integration and Testing (AIT) of satellites. It has completed AIT of three RISAT satellites at ISRO premises. BEL has collaborated with ISRO and has come out with new products like variants of Indigenous Receivers for Positioning and Navigation (IRNSS), Satcom Terminals, LTCC-based Substrates and high power space TWTAs, which have usage in Defence, Government services and paramilitary applications. Also, BEL is jointly working with ISRO for supply and commissioning of various types of Satellite networks and HUBs for satellite communication applications. BEL has plans to establish manufacturing facilities for LEO Satellites as well as Space based payloads for Defence space related projects. BEL is collaborating with Indian industry and OEMs for joint development of high through put satellite and LEO satellite constellation.
During this year, BEL has responded to EoIs from INSPACe for Earth Observation Stations (EOS) under public private partnership. BEL is shortlisted as one of the vendors by INSPACe for responding to RFP for EOS.
Network and Cyber Security
Indias cyber security market is emerging as a global hub for innovation and cyber security. The cyber security market in India which is driven by investments by organizations to safeguard against cyber threats is expected to grow at a CAGR of 18.33% and reach to 1 Lakh Crore (USD 12.9 Billion) by 2030.
In order to address opportunities in cyber security market in a focused manner, a dedicated Strategic Business Unit (SBU) has been created at BEL Bangalore and has made key progress in implementing a sizeable amount of cyber security business such as Security Analytics Centre (SAC) for Govt. Agencies, Data-Diode Solutions, PKI and associated services for Defence forces, Security services for Banking/Govt. Agencies, Secure Rugged Laptops, Next Generation Firewall Systems, Security Operation Centre (SOC) for PSUs, etc.
In cyber domain, High Performance Computing (HPC) sector is witnessing robust growth, fuelled by the escalating demand for sophisticated data processing across diverse industries. The global HPC market is predicted to reach USD 71 Billion and the Indian HPC market is expected to reach USD 4.3 Billion by 2030. The setting up of HPC facility has been initiated at BEL Bangalore to address the business in the HPC segment.
BEL is vigorously pursuing current technologies like Quantum Key Distribution, Block-chain, Digital forensic, Remote Voting, IOT security etc. in collaboration with several start-ups, OEMs, Channel partners and Academia.
BEL has been empanelled by CERT-In for providing information security auditing services. BEL Network and Cyber security is an ISO 27001 Information security management systems-certified division. The group has obtained various Cyber Security certifications like CEH, GSEC, Lead Auditor for ISO 27001, CISSP, CSQE, CHFI, CCNA etc. to qualify in domestic and global tenders. During the year, BEL acquired Cyber security projects from customer like ICMR, AIIMS etc.
Railways and Metro
Indian Railways has prepared a National Rail Plan for India 2030. To enable Atmanirbhar Bharat and Make-In-India initiative, the plan is to create a future ready railway system by 2030, bringing down the logistic cost for Indian industries. A special thrust is given on promoting Digital India initiatives and adopting emerging technologies, including 5G, AI, ML and Drones.
The Railway capital expenditure for FY 2025-26 is estimated at 2,65,200 Crore, same as the revised estimate for 2024-25. Indian Railways is planning to redevelop 508 stations spread across 16 states and Union Territories. This ambitious project is estimated to cost 24,470 Crore. For Metro, total budget for the FY 2025-26 is 31,240 Crore against 21,335 Crore during FY 2024-25.
Some of the modernisation projects like National Common Mobility Card (NCMC) compliant Automatic Fare Collection (AFC) Gating system for Metros, Indian Computer-based Train Control (i-CBTC)/Intelligent Automatic Train Supervision (i-ATS), Train collision avoidance system (TCAS), Train control and management system (TCMS), Rolling Stock Driver Training Simulator, Real Time Information System (RTIS) for Indian Railways, traction super Supervisory Control And Data Acquisition (SCADA), CCTV Radios, Video Surveillance systems, LTE based mission critical communication networks for the Railways, Platform Screen Doors (PSDs) etc. are being pursued by BEL. BEL is collaborating with DMRC, RDSO, NCRTC, BEML and various public/private organisations in the areas of i-ATS System, i-CBTC, traction super-SCADA, Rolling Stock Driver Training Simulator, TCAS (Kavach project), TCMS, PSDs, etc. BEL has developed PSD for public safety and is being installed in various Metro stations.
Civil Aviation
The global civil aviation market is valued at USD 1,042 Billion in FY2024-25 and is expected to reach USD 1,965 Billion by 2034 at a CAGR of 8.1%. The aircraft passenger traffic in India is estimated to reach 485 million by 2027 at a CAGR 9% between 2025 to 2027, and number of airports will increase to 350 by 2047 from existing 157 in the country. With 300 million passengers a year in 2030, Indias aviation penetration would be at 10-15% and still be a potential market in the decades to come. Domestic air passenger traffic witnessed 15% growth (CAGR) while international air passenger traffic was 6.1% in the last decade. The budget allocation for civil aviation ministry for FY 2025-26 stood at 2,400 Crore.
The Airports Authority of India (AAI) has earmarked a sum of 25,000 Crore for a period of five years, for modernising 100 airports across the country.
To enable Aatmanirbhar Bharat and Make-In-India initiative, BEL is collaborating with AAI and global OEMs for modernisation of Airports and ground infrastructures, providing solutions for Air traffic management, Air Surveillance Radar (ASR), Mono-pulse Secondary Surveillance Radar (MSSR), Advanced Surface Movement & Guidance Control System (ASMGCS) solutions, other ground & navigations solutions, etc.
BEL has successfully developed an indigenous ASR Radar co-mounted with MSSR Radar for seamless air traffic control meeting global ATC compliant of ICAO/Eurocontrol standards. During the year, with indigenisation efforts, BEL has acquired first order of ASR/MSSR from HAL under competition. BEL is participating in many tenders and actively pursuing for export business in the segment.
Software
Government has allocated 4,349 Crore in the FY 2025-26 budget to schemes involving AI with focus on India AI mission aimed at adapting AI in critical sectors of the economy such as agriculture and healthcare. The Indian
IT industry, comprising of software products, IT services, engineering and R&D services, ITES/BPO, hardware and e-commerce is expected to grow to USD 500 billion by 2030, contributing 10% towards the countrys GDP.
Emerging technologies such as Big Data Analytics, Artificial Intelligence (AI), Geo Analytics, Block chain and embedded software play a vital role in modern warfare and transforming every aspect of the product offerings.
BEL is handling multi-disciplinary projects catering to the in-house software requirements and is also exploring opportunities in both domestic and export markets through strategic partnership with industry leaders in areas of Homeland security, e-Governance, smart cities, digital transformation, healthcare, simulators, software assurance services, ERP, digital Agriculture, AI/ML, etc. BEL operates a Software Development Center (SDC) in dedicated to software development. Furthermore, BEL has established a new SDC in Delhi this year. To further its software development, services and support endeavours, BEL is also planning to establish additional SDCs at different locations across India.
Medical Electronics & Healthcare Solutions
Indian medical electronics market is expected to grow to USD 50 billion by 2030 symbolizing Indias transformation from a major importer to a global hub of medical technology innovation and manufacturing, aligning perfectly with the global MedTech markets trajectory toward USD 900 billion by 2030.
After successfully manufacturing of 30,000 ICU ventilators and around 18,000 Oxygen Concentrators, during the pandemic, BEL has taken firm steps towards diversifying into the medical electronics and healthcare segment. One of the objectives of your company is to tap the opportunities in medical electronic equipment segment which covers 56% of MedTech market share and introduce affordable healthcare products/solutions to urban & rural populations in India and achieve Atmanirbharta in the Healthcare segment.
To quickly grow in this segment, a few niche products, indigenously designed by Indian companies, have been identified which can be manufactured at BEL through ToT. Your Company is also planning to come out with products for futuristic markets, either through the in-house effort or through collaborative R&D approach. With these approaches, BEL is planning to produce Haemodialysis machines, patient monitoring system for ICUs, turbine-based ventilator, etc.
Focused approach for new areas in Defence
T o give a focused approach to upcoming areas in Defence & Aerospace sector, BEL has ventured into Unmanned Systems, RF and IR Seekers, Missiles, Rockets, Glide Bombs, Arms & Ammunitions.
Unmanned Systems
The Unmanned Systems market comprising of Unmanned Aerial Vehicles (UAVs), Unmanned Underwater Vehicles (UUVs), Unmanned ground vehicles (UGVs) and Unmanned surface vehicles (USVs). The global UAVs market is projected to reach USD 125.91 billion by 2032. Due to Government initiatives and technological advancements, Drones and UAV is experiencing substantial demand in India, driven by sectors like agriculture, infrastructure, defence etc. Indian UAV including drones market is expected to reach 55,000 Crore (USD 6.5 billion) by 2032 with a CAGR of 9.5%.
As per reports, the UUV market is projected to reach USD 11.1 Bn by 2030, at a CAGR of 15%. The UGV is estimated to grow to USD 5.5 Bn by 2034, at a CAGR of 6.3%. Similarly, The USV market is projected to reach at USD 3.29 Bn by 2032, at a CAGR of 4.7%.
In FY 2025-26 budget, the government has allocated 57 Crore for drone and drone components under the Production Linked Incentive (PLI) scheme, a 72% increase from the previous years 33 Crore, aiming to boost domestic drone manufacturing.
BEL has been addressing the UAV/UGV/UUV/USV requirements of the Indian Defence /Non-Defence segments by partnering with DRDO/ foreign OEMs/ Indian Academia/ Start-ups, etc. BEL has also been working on the Payloads (like EO, Communication, ESM, etc.), Data links and Ground Control Station requirements of the UAVs. BEL has also developed and supplying Drone Guard Systems for armed forces. In addition, BEL is engaged in with DRDO, Academia and Start-ups for development of Unmanned Systems.
To address the Unmanned Systems business opportunities in a focused manner with committed resources, a dedicated Strategic Business Unit (SBU) at BEL, Bangalore has been doing strategic partnerships and addressing requirements of the customers.
RF and IR Seekers
The global missile seekers market was valued at 3.91 billion in 2024 and is projected to grow at a CAGR of 12.5 % and expected to reach USD 7.95 billion by 2030.
Investments in missile defence systems is further propelled by escalated geopolitical tensions among major nations, the need for enhancing the military capabilities through modernization and ensuring the security and sovereignty of the nations. Governments are focusing on upgrading their existing weaponry to ensure national security, which continues to create a robust demand for advanced missile seekers.
The key drivers for the global growth of this segment continues to be increased geo political instabilities, the change in nature of the warfare strategies, continuous advancements in missile seeker technologies with increased R&D, increasing defence budgets of emerging economies, European and other countries in the need for securing their nation, etc.
In recent times, the missile seeker market has witnessed notable trends, including a shift towards multi-mode seekers that can operate across various environments and mission profiles. This flexibility allows for enhanced operational capabilities, ensuring effectiveness in diverse combat scenarios.
The domestic demand for this segment is driven by Govt. of Indias policy initiative for development and procurement of strategic Missiles primarily from domestic market.
The indigenous R&D and development in the segment is led by DRDO and major milestones have been achieved, paving the way for commercial production of these Seeker based Missile systems. Some of the major missiles (based on Seeker technologies) which have completed their development and reached commercial production phase include Akash Prime and QRSAM. Major progress is being made in the development of other Missiles by DRDO for MPATGM etc which are going to contribute to the growth of domestic seekers market.
Domestic defence industry will have a major role and opportunity for absorption of technology and investments to be made for productionization of these systems in the years to come. BEL is associated with DRDO during various phases of development for technology absorption, engineering and productionization of RF and IIR seekers.
Ar ms & Ammunition
Global geo-political environment is leading to disruption USD in ammunition sector. Conflict around world is driving need for stockpile of ammunition. Wars are fought not in battlefield but at ammunition production facilities. The global ammunition industry continues to play a vital role in the modern battlefield and remains a strategic asset for any country. Increasing geopolitical uncertainties and supply chain disruptions started exposing opportunities for Indian companies to explore the global ammunition market and supply chains.
Arms & Ammunition including Smart Weapons and Precision Guided Munitions are critical for the strategic needs of the country for which self-reliance has to be ensured. Historically, the Services were dependent on imported Arms/Weapons. GoI/MoD through major policy initiatives for Make-In-India such as Indigenisation of Ammunitions, Positive Indigenisation list, Make-II, etc., is offering huge opportunity to domestic defence manufactures including BEL.
The global ammunition market is experiencing substantial growth, both in terms of volume and value and is expected to increase to 3,06,800 Crore (USD 36.1 Bn) in 2033.
In order to address opportunities and to effectively compete in this segment, a dedicated Strategic Business Unit (SBU) at BEL Bengaluru, has been doing strategic partnerships and addressing requirements of the customers.
BEL is engaged with DRDO, academia and start-ups and exploring strategic partnership with OEMs for joint development, co-production and collaborative R&D projects for advanced technologies in the domain of missiles seekers, glide bombs, rockets, ammunitions, electronic fuzes and its related parts. BEL has made substantial investment for creating hot integration and storage magazines facilities with all necessary regulatory license and approvals.
(b) Industry Structure and Developments
Over the last decade, there have been transformative changes in the domestic defence manufacturing eco system with Govt. of India (GoI), acting as a key enabler. There have been systemic changes on matters of policy, with a long-term view to strengthen domestic defence manufacturing aimed at competency building, creation of a culture of innovation in Defence, setting up defence manufacturing clusters, policy changes aimed at sourcing of raw material, components and products manufactured in India through a cohesive, interlinked policy changes.
For the Year 2024-25, the value of domestic defence production has significantly increased and reached 1,46,000 Crore with Exports of 23,622 Crore for FY 2024-25. Ministry of Defence has set a target of 3 Lakh Crore for annual defence production & 50,000 Crore exports by 2028-29. This provides immense opportunity for the domestic defence manufacturers comprising of 16 DPSUs, more than 430 licensed private defence companies and approximately 16000 MSMEs for growth.
It is estimated that approximately 65% of defence equipment is manufactured domestically. The contribution of private sector towards defence manufacturing in the country has increased to 21% of total defence manufacturing.
There is a significant improvement in finalizing the defence contracts by MoD-India. During the FY 2024-25, MoD has signed 193 contracts with total contract value of approximately 2,09,050 Crore with approx. 81% of contracts by value awarded to domestic defence industry. Also, there is considerable improvement in the domestic ecosystem for Innovation in defence. Innovators and starts ups have access to grants from IDEX-DIO, Technology Development fund (TDF) of DRDO etc. Commercial contracts are also placed by MoD for successful projects.
DRDO leads in the development of major technologies for the defence industry in India. DRDO developed technologies are available to the domestic defence industry players on a non-exclusive basis for commercial production and sale.
Though, India continues to be among the top importer of defence goods, Indias imports during 2020-24 period have decreased by 9.3% compared to previous block period of 2015-19. This can be attributed to make in India initiatives by GoI. GoI further aims to bring in changes in policies and procedures for expediting the defence procurement cycle to bring in efficiencies and better utilization of the installed domestic manufacturing capacities. BEL has been contributing to the make in India initiatives of GoI through IDEX-DIO.
To provide impetus to defence and aerospace sectors within the defence industrial corridors, seven defence testing facilities were approved by the government. These DTIS are conceived to operate as SPVs. Defence testing facilities under Defence Testing Infrastructure Scheme (DTIS) of MoD are being set up in the defence Industrial Corridors (DICs) i.e. 04 each in Tamil Nadu and U.P. DIC. Under this scheme, BEL has participated in incorporation of four (04) Section-8 companies on mission mode in Defence Corridors for supporting Indian Defence Industry including MSMEs and start-ups. BEL is the lead for setting up of test facilities for EW and communication segment in DIC Tamil Nadu and DIC U.P. respectively. Also, BEL is a consortium partner for setting up of defence test facility for Electro-optics and Unmanned Aerial Systems in DIC Tamil Nadu and DIC UP respectively.
BEL is continuously making substantial investments in its R&D and manufacturing, through establishment of new manufacturing facilities, setting up Centre of Excellences (CoEs) in the emerging technologies (AI, Autonomous systems etc.) to take advantage of the business opportunities for domestic and export markets.
(c) SWOT Analysis
Strengths
• Leader in Defence Electronics in India.
• Strong multi-layered in-house R&D, skilled workforce and strong domain knowledge.
• Wide product range with strong PS network.
• Strong relationship with Customers.
Weaknesses
• Gaps in critical technology areas.
• Higher dependence on Defence market.
• High lead time to market.
• Regulatory requirements impacting agility.
Opportunities
• Substantial defence modernisation / upgrade plans
• Growing defence & security needs
• Strategic partnerships with friendly countries
• Introduction of IDDM category in DAP
• Positive Indigenisation List & Make-II projects
Threats
• Increased competition from Indian private and Global companies
• DRDOs Policy for DcPP and PA
• Changing Customer procurement philosophy
• Rapid changes in technologies
• Sourcing of few critical and denied technologies
• Policy favouring private sector
(d) Major initiatives undertaken/planned, including strategy, goals and targets set by the top management, to ensure sustained performance and growth of the Company
The Company has undertaken the following major initiatives to ensure sustained performance and growth of the Company:
(i) Strategic alliances in emerging businesses through Co-development, Co-production and Manufacturing ToT:
BEL is working in many strategic and other areas of national importance such as Weapon systems, Surveillance, tracking and multifunction AESA-based radars, naval & airborne applications, Next Generation Electronic Warfare Suites and Counter Measure Systems, Air Defence Systems including Seekers & Missiles, Unmanned Systems for Land, Air, surface & underwater applications, Anti-Submarine Warfare Systems, Software Defined Radios for Tactical applications, Network Centric Systems, Multi-sensor Stabilization Systems, Arms and Ammunitions, Transportation Solutions for Railways and Metros, Artificial Intelligence & Robotics, Space/Satellite Systems, etc.
Strategic alliances have been forged and other select partnerships are being pursued with Defence laboratories, reputed global OEMs, DPSUs, Academia, Start-ups, niche technology companies and Indian companies / agencies for addressing the emerging Defence and Non-Defence businesses and exports.
Some of the products & systems identified and being pursued for alliances for Co-development, co-production and manufacturing ToT and for Lifecycle Support include Surface-to-Air Missile (SAM) Systems, RF / IIR Seekers, Air Defence Radars (Land and Naval based), Navigational Complex System, Sonar Systems, Next Generation Night Vision Devices, Gun Upgrades / New Gun Programmes, Small Arms for Defence, Electronic Fuzes, Navigation Receivers, Ammunitions, Inertial Navigation systems, High Power Lasers, UAVs, Remotely Operated Vehicle (RoV), Counter Measure Systems, Electronics systems for futuristic AFV platforms FICV etc., Satcom Terminals, Rail & Metro solutions, etc.
(ii) Joint Ventures (for existing / emerging business areas):
BEL has been continuously exploring opportunities for establishing joint ventures / special purpose vehicles with reputed companies with complementary technologies / strength to bridge technology gaps, for business expansion as well as to enter into new and emerging business areas.
The Joint Venture BEL-THALES Systems Limited (BTSL) is formed between BEL and Thales, France with an objective to engage in design, development, marketing, supply and support of civilian and select Defence radars for the Indian and global markets. Benefitting from the confluence of work culture and technology/ manufacturing support of the parent companies, the JV has imbibed the best practices of both parent organisations and is growing into a centre for development, evolution and customisation of products as a trusted supplier.
BTSL achieved milestone turnover of 118 Crore for the Year 2024-25 experiencing strong growth of 26% from previous years 93.77 Crore and highest ever Order book position of 238 Crore
The current Portfolio includes - Built to Print Export projects like FZ906, ARSI, SAF etc., Radar service management of Air Surveillance Radar (ASR) and Mono-pulse Secondary Surveillance Radar (MSSR) for HAL at multiple locations, etc. BTSL is also involved in supply chain activities for TRMs manufacturing. BTSL has set up a well-equipped Integration facility for high-end avionics systems, which has been further expanded for the manufacturing activity.
Bharat Electronics Limited (BEL) and Israel Aerospace Industries (IAI) have formed a joint venture company "BEL IAI AeroSystems Private Limited (BIA)" for providing post warranty product life cycle support in India. The JVC was incorporated on 25th September 2024 with its registered office in Delhi.
The Defence Testing Infrastructure Scheme (DTIS) is an initiative by the Ministry of Defence (MoD), Government of India, to enhance the countrys defence sector capabilities including testing support to MSMEs/Startups. The scheme has been launched to promote and establish state-of-the-art defence testing infrastructure with Government assistance. The scheme is launched to boost domestic defence and aerospace manufacturing in India by establishing world class testing facilities through participation of DPSUs and private companies along with State Defence Industrial Corridors (DICs) from Uttar Pradesh and Tamil Nadu.
For implementation of the scheme, MoD has formed consortiums of DPSUs, private companies and State DICs for incorporation of eight Section-8 companies in eight testing domains. BEL, as part of these consortiums, has participated in the formation of four Section-8 companies under the scheme (i) as a lead member, shareholder, and promoter for two companies i.e. Electronic Warfare (EW) and Communication domains and (ii) as a member, shareholder, and promoter for another two companies i.e. Electro-optics (EO) and Unmanned Aerial Systems (UAS) domains.
BEL has continued its expansion through inorganic route. In this connection this year, BEL has signed a MoU with SAFRAN France for setting up of JVC for manufacturing of smart precision-guided air-to-ground weapons ‘Hammer.
Technology Upgradation and R&D Challenges
Core technologies required for developing state-of art products and solutions are often not readily available. R&D on core technologies requires constant upgrade for realising solutions with a competitive edge. While it is inevitable to use proprietary technologies, getting locked to a single source for technologies/solutions is a major challenge.
The demands of reduced Size, Weight and Power (SWaP) along with quality requirements always push R&D efforts to the edge. At the component level, R&D efforts are steered towards meeting newer requirements of SoCs, MMICs, highly integrated processor ICs, microwave supercomponents, etc. At the product level, R&D efforts are towards creating modular, configurable, multi-function and fault-tolerant products. Realising Systems of Systems needs expertise in systems engineering, project management along with system integration expertise. Obsolescence of critical components, continued dependency on foreign OEMs and requirement to support the entire product life cycle are the other critical challenges.
Measures
To overcome the challenge of continuous upgrade of underlying core technologies for all products and solutions across BEL, a 3-tier R&D structure is put in place. The Central Research Laboratories (CRLs), one each located at Bengaluru and at Ghaziabad, are engaged in blue sky research and applied research in core technology areas of Communication, C4I, Big Data, Network Centric Software, Electronic Warfare, Radio Frequency, Microwaves, Power Amplifiers, Antennas, Radar Signal and Data Processing, Image Processing, Electro-Optics and Lasers, Embedded Smart Computing, Sensors, Networking, Navigation, Artificial Intelligence, Cyber & Network Security, Crypto, Switching, Cloud and Data Analytics, Machine Intelligence, Robotics, Unmanned Vehicles, Network Management Systems, Decision Support Systems, Multi Sensor Tracking and Data Fusion, GIS, Simulation, War-gaming, Tactical algorithms, Cognitive Computing, Sensor-System Integration, Web Technologies, Software Engineering etc.
A centralized Product Development and Innovation Centre (PDIC) and the 3 Centres of Excellence (CoEs) in the areas of Electronic Warfare & Photonics (EW&P), Military Communication Systems (MCS) and Radar & Weapon Systems (R&WS), located at Bengaluru, focus on engineering of core technology modules into products / systems. The core areas of PDIC are Automation Solutions, Antennas, Crypto Solutions, Embedded -the Systems, Energy Systems, Engineering Solutions, RF and Microwaves, MMICs, SoCs, Sonar Systems, Super Components, Navigation and Stabilization, etc.
The Development and Engineering (D&E) divisions, operating at all the Strategic Business Units (SBUs) and Units, liaison with end customers for understanding their requirements, map them to technical specifications and develop products/solutions incorporating the core technology modules developed through the other tiers, i.e. CRLs and PDIC/CoEs.
The D&E of Software SBU, at Bangalore, addresses all requirements related to software modules either directly to the customers or through respective D&Es of SBUs/ Units. In addition, Software Development Centres (SDCs) have been established at Visakhapatnam and New Delhi. A new Software Development Centre is being established at Indore. The Software SBU is supported ably by the CRL scientists at Bangalore & Ghaziabad.
In BEL, the challenges are further being addressed through planned R&D initiatives, systems engineering, technology training for R&D Manpower, data driven obsolescence management and by leveraging expertise through suitable collaborative R&D partners and Subject Matter Experts (SMEs).
To overcome the challenge of lock-in to proprietary technologies, in feasible areas, the Company develops technology modules / solutions based on alternate technologies and standard protocols with modular designs which can be evaluated using standard test and measuring instruments. Even when Technology Modules / Products / Solutions are Built to Specifications (tailor-made for the Defence forces), they are developed with standard interfaces so that they can be used as plug and play modules in larger systems to ensure modularity and scalability. This safeguards against the single-vendor / proprietary lock-in situations and ensures that the products / systems developed are easily maintainable.
Further, wherever a subsystem or a component is procured, multiple sources for this subsystem/component are identified to safeguard the Company from getting locked in to a single source. The ever increasing need for low size, weight, & power is being addressed through the development of a series of miniaturized platforms / products / solutions by optimizing processing performance, packaging and thermal management based on a standards-driven approach. Obsolescence is being addressed through obsolescence management plans, tools & actions, which help identify/create alternate sources and move towards indigenization.
R&D Initiatives and Achievements
BEL has been vigorously pursuing IPR related year after year. Concerted efforts put in have resulted in the grant of 141 IPRs including 80 patents during FY2024-25. Some of the granted patents are: 1. Multi-Channel Transmit-Receive Module Operating in X-Band for Radar Applications 2. Microwave Analog Attenuators for Receiver Gain Control
3. A Hybrid Stack-Up for Wide Band RF Crossovers
4. System and Method of Data Packet Pre-Processing for high data rate wireless transmission over dual carriers
5. Point to Multiple Point Communication System
6. Radiating Panel for Wide Elevation Coverage and High Gain for Antenna 7. Co-operative time synchronization for TDMA based multi-hop mobile ad-hoc network in tactical edge scenario
8. Multi-functional DDS-PLL based Synthesizer and Coherent Waveform Generator for Radar Applications
9. A method to reduce the computational complexity of the channel estimation in OFDM systems
10. Method and system for separating multiple radars using pulse returns
11. A server apparatus and a method for voice recording and monitoring
12. A system and method for traffic management in software defined networking high gain and ultra-low noise C band amplifier
13. A method and system for time synchronization in nano seconds order, by multicore satellite receiver architecture
14. A system and method for distributed sharing of spectrum sensing load in cognitive radio ad-hoc network
15. Method for polarity insensitive communication over differential signal transmission in half duplex mode
16. A system and method for selective packet processing
17. Method and System of resuming tracking of a target by video tracking system
18. Real Time Moving Map feature for Ultra-Wide Band Airborne Systems
19. Motorized Long Wave Infrared Dual Field of View
Lens for Cooled Detectors
20. Method for common track identification maintenance for high availability Radar system
As on 31 March 2025, the cumulative IPRs granted/ registered to BEL are 810 (Patents: 288, Copyrights: 489, Industrial Design: 22, SICLD: 6, Trademarks: 5) and cumulative IPRs filed by BEL are 1350 (including 777 filed Patents). In FY 2024-25, a total of 151 new IPR applications were filed (Patents: 86, Copyrights: 51, Industrial Design: 10, SICLD: 3, Trademarks: 1). R&D/D&E scientists/engineers have presented and published 121 papers in reputed Conferences/Seminars/Journals in 2024-25.
BEL has empaneled 24 new Collaborative R&D partners in the year 2024-25. As on 31 March 2025, cumulative Collaborative R&D partners empaneled are 346 (including 177 MSMEs). The partners are categorized under R&D Solution Providers: 42, Design Service Providers: 229, Consultants: 43 and Production Service Providers: 45, of which 12 partners are empaneled under two categories.
BEL supported and participated in many Conferences during the year 2024-25, including:
1. DefConnect 4.0 flagship event by iDEX-DIO / DDP-MoD at Manekshaw Centre, New Delhi
2. Coders Re-Union by IAF at Software Development Institute
3. 15th EECS Research Students Symposium-2024 by & at IISc, Bengaluru
4. GAME ARTS Symposium by & at IISc, Bengaluru
5. VEDA-2024 by VEDAS at CSIR-CEERI/ Pilani, Rajasthan
6. AI Powered Defence: Concept to Obsolescence by CSI at Bengaluru
7. BIS - 24 by BEL & IETE at BAE-Nalanda, BEL, Bengaluru
8. Indocrypt 2024 by SETS at Chennai
9. Aero India 2025 International Seminar by AeSI at Bengaluru
Some of the new initiatives undertaken by BEL in collaboration with academia are:
1. Cooperation in Research and Technology/ Product Development (IIT Mandi)
2. Thin film for Microwave applications (IISc, Bangalore)
3. Information extraction from UAV video (IIT, Roorkee)
4. Detection & Classification of Mines using AI & ML (IISc, Bangalore)
5. GNSS based True North Heading Receiver (Osmania University, Hyderabad)
6. MIL-STD-110B HF Modem (IISc, Bangalore)
7. Massive MIMO algorithm for LEO SatCom (IIT, Delhi)
8. Conformal Antenna (IIT, Kanpur)
9. Crop area, yield and crop loss (Tamil Nadu Agricultural University)
New initiatives taken during the year 2024-25 including:
1. Setting up of an Artificial Intelligence Incubation Centre with Indian Army at BEL, Bengaluru
2. "Gyan Uday Hackathon 2024" was organized during 10th & 11th May 2024 at "Abhigyaan" auditorium, CRL Ghaziabad
3. "Gyanotsav Technical Symposium 2024" organized during 11th - 13th Nov 2024 by CRL Bengaluru on the commemoration of Coral Jubilee Celebration (35 years) of CRL Bengaluru
4. Centre for Artificial Intelligence and Autonomous Systems at CRL Bengaluru was established on 17th May 2024
Specificareas in which R&D was carried out and benefits derived as a result of the activities and details of major accomplished in the Equipments and Components area, during FY 2024-25:
During FY 2024-25, many R&D projects were taken up by BEL and several projects were completed in specific business segments / areas. These include R&D projects in technology areas like Missile Systems, Radars, Electronic Warfare, Avionics, Military Communication, Naval Systems, Sonars, C4I systems, Electro-optics and Laser, Tank Electronics, Gun Upgrades, Civilian Equipment, Homeland Security, Medical Electronics, and Components. The benefits derived are in the form of major share of revenues generated by the Company in the above business segments. Several technology modules have been developed, some of which have resulted in import substitution too. Some of the BEL developed solutions have also resulted in export orders received by the Company.
Details of major accomplishments in Equipments and Components area:
• The following equipment and components were launched during the year 2024-25:
1. Engineering Improvements of D4 system
2. AD Gun Training Simulator
3. Decoy System for AMS
4. Himshakti (COM Segment)
5. X Band DWR (SSPA Based)
6. QT Model for Sarang
7. MSSR Mk-XIIA
8. CMS Test-Bed
9. Super-SCADA for DMRC
10. CBRN HAZMAT Vehicle
11. Development OF ILROS
12. TI Sensors for BMP-II
13. Driver Night Sight (HD)
14. Torpedo Defence System (TDS)
15. Night Sight for 7.62mm LMG
16. PORTABLE DIVER DETECTION SONAR
17. Light weight SDR-AR
18. Naval Air and Surface Surveillance Radar
19. DMD based Digital Light Engine for HUD
20. GNSS based True North heading Receiver
• R&D projects which have fetched considerable revenues for the Company (both Defence and Non-Defence segments) during FY 2024-25 include:
1. ATDS
2. IACCS B-III Hardware & Services
3. SDR TAC and DCT for ICG
4. PSPU, BSU, TCM, Rx-Ex for WLR Plains
5. GFCS
6. IFDSS T-72
7. WDTE
8. Passive Phased Array & E-Scan IFF Antenna
9. Aslesha Mk-I + Comm. Equipment
10. GBVU COM JAM with DF
• Some of the major Technology Modules and Subsystems developed indigenously during the year 2024-25, which have resulted in import substitution, are:
1. Photonic Transmitter and Receiver for Atulya (ADFCR) Radar
2. Network Management System software for SDR
3. Routing module for FSHAKTI
4. True North Finder Using Dual Antenna
5. Air Traffic Management System for Civil Aviation
6. Pan Army Surveillance System (PASS)
7. Aakraman - Counter Insurgency for Anti Terrorist Activity
8. 3U VPX based baseband processing module
9. C-band Data radio
10. DVB-S2x modem Waveforms
11. 2 KW Fibre Laser source
12. Electro Optical Imaging Intelligent and Stabilized System (EOIISS)
13. IR Jammer for APS (MBT)
14. Digital Beam Former (64 channel) for AMDR (3D)
15. 3.1 – 3.5GHz 150W GaN Amplifier
16. Driver Display Unit (3.9" & 5.7") and Commander Display Unit (5.7" & 7")
17. C Band 6-Bit Digital Phase Shifter MMIC, 4.8-6.2 G
18. Solid State Power Controller (SSPC) – 16 Channel & 32 Channel
19. C-Band 25W PA for Tropo Communication
20. Gunners Control & Display (8.4" & 6.4")
• R&D projects undertaken by BEL during the year 2024-25 which have resulted in exports are:
1. 3D Surveillance Radar for ASEAN
2. CRS Coastal Radar System for ASEAN
3. Maritime Rescue Coordination Centre for ASEAN
(e) Diversification / Expansion Plans:
A s a diversification strategy, the Company has been exploring opportunities in allied defence and non-defence areas for growth, leveraging its strengths & capabilities acquired in the defence electronics domain and capitalizing on the conducive policy environment encouraging indigenous solutions. This year, the company has achieved about 5.74% of turnover from non-defence segment. The company aims to achieve growth and sustain the revenues from the non-defence business in the coming years to about 20% of companys turnover.
The Company has been putting continuous efforts & focus to enter and address several new areas in both defence & non-defence for further expanding its business in new markets for sustainable growth. Some of the areas being focused upon in defence include: Next Generation indigenous Missile Systems, RF Seekers, Imaging InfraRed (IIR) Seekers, Arms & Ammunition including precision guided munitions, Smart Weapons, Missile Electronics, Unmanned Systems, Airborne Radars, Navigation Receivers, Next Gen Image Intensifiers and Thermal Imaging solutions for Night Vision Devices, Indian Regional Navigation Satellite System (IRNSS) based solutions, Directed Energy Weapons, countermeasure systems for Air platforms, Avionics & EW suite for next. Gen Aircraft/ Helicopters, Software as a Service, Network & Cyber security etc.
Some of the areas being focused in the non-defence include: Solutions for Civil Aviation sector including Air Traffic Flow Management solutions, Advance Ground Control Surface Movement Radar, Air Surveillance Radar, Anti Drone systems, Space / Satellite Electronics, Satellite Communication Services, Railway and Metro Solutions, Software as a Service, Cyber Security Solutions, Homeland Security Business etc.
BEL also continuously strives to expand its business by capturing new customers in the existing geographical markets as well as new geographies for its proven products, systems & solutions. BEL has ventured into new business models like Government-owned Company Operated (GOCO), OPEX Model etc. (e.g. Class Room Jammers) to expand its business by capturing new customer segments. BEL is striving to exploit its dual-use technologies (e.g. SDR, Satcom solutions, Cyber security solutions, Software solutions, etc.) for expanding the market as well as customisation of its products / solutions to meet the new customer segments / geographical areas, especially in the export markets.
BEL is leveraging on its new International Marketing offices to expand the reach of its products & services to the new markets and also explore offset opportunities. BEL is also forging partnerships with other PSUs / industry players for quickly expanding the geo spatial reach through resource sharing.
Considering the present order book and expected growth of BEL due to continuous demand of defence equipment across the globe and growth of non-defence electronics applications complimented by significant opportunities, a dedicated Supply Chain Management (SCM) vertical is setup at corporate level. The SCM vertical at corporate is aimed at streamlining policies and procedures for strengthening BELs supply chain network , bring in best practices and contribute to improved operational effectiveness and overall project management for timely execution.
(f) SpecificMeasures on Risk Management, Cost Reduction and Indigenisation:
1. Risk Management:
Your company has an established Enterprise Risk Management (ERM) deployed across the company covering all business units and functional areas. ERM is also deployed in the newly formed strategic business units. The deployment of ERM is based on the Risk Management (RM) Policy of the Company, approved by the Board, and the recommendation of the Risk Management Committee (RMC) of the Board.
The Risk Management Policy is reviewed and revised periodically taking into account the changes in the external business environment and internal business organisation structure. Risks related to the new business and diversification areas are also identified and appropriate mitigation measures are being deployed.
The Risk Management Policy outlines the risk management structure, scope and objectives, areas of risks, roles and responsibilities of risk management committees at various levels, role and functions of risk champions and other concerned personnel in the company in respect of ERM implementation.
RM policy in the Company is implemented through an established ERM framework across the Company. The Risk Management framework of the Company has a three-tier structure, with Board of Directors (BOD) through RMC at the Apex level; Corporate Risk Management Committee (CRMC) at the corporate level and Unit Risk Management Committees (URMCs) at the Strategic Business Units (SBUs)/Units/R&D centres etc.
A comprehensive framework for risk identification, evaluation, prioritization and mitigation of various risks associated with different areas such as technology, market, product, cyber security, Environmental Social and Governance (ESG), operations, finance, human resources, etc. are also defined in the policy.
Based on the analysis of the risks reported by the URMCs, risks which have potential impact across the company and necessitate the expert advice and direction of the RMC are identified by the CRMC in various areas like technology, marketing, operations, finance, cyber security, HR, ESG, etc. Based on the review by the RMC and its recommendations these risks are addressed by introducing suitable mitigation measures including policy and/or business process improvements, as required.
The implementation of mitigation measures is further reviewed by the RMC for compliance and the implementation status is reported to the Board.
Risks which may have significant impact on the operations of the company or wherever deemed necessary, are reported to RMC. RMC reviews the Risks and recommends to the Board for further deliberations and approval of mitigation measures. RMC also gives necessary directions, from time to time for effective ERM implementation in the company.
2. Cost Reduction:
In the changing environment of competitiveness and more emphasis by Government on Atma-Nirbhar Bharat (Self Reliance), Cost Competitiveness has become more important for the company. As the profit margins are reducing, cost competitiveness works as survival strategy. BEL has adopted cost reduction strategy as one of the thrust areas. "Cost Reduction" Task Forces are set up in all the Units / SBUs with members from Cross Functional Areas. The Task Forces identify & take up projects and set target for achieving cost reduction with focus on both manufacturing & non-manufacturing areas and encompass all facets of business. Guidelines for Cost Reduction are modified from time to time to cater to the business needs across the company.
3. Indigenisation:
BEL strongly believes that achieving Self-reliance is one of the prime objectives to meet the strategic needs of the nation. Towards this endeavour, around 74% of the Companys turnover is generated from indigenous technology. In line with Governments "Make in India" policy, BEL has been taking several initiatives to achieve Self-Reliance through a strong thrust on In-house R&D and Indigenisation, Increased outsourcing from Indian Private industries, Public Private Partnerships, Joint Ventures, Capacity expansion, Infrastructure Development & modernisation etc. Major initiatives taken towards achieving the goals of Indigenisation & self-reliance include:
• Continuous product development through In-house R&D efforts, Joint development by partnering with DRDO, National R&D Labs & Academia and Collaborative R&D partnership with the Indian private sector (MSMEs/Start-ups) & foreign OEMs/ Design houses
• ToT-based In-depth manufacturing from foreign OEMs
• Import substitution of critical sub-systems through inhouse/domestic vendor development
• Three years R&D plan for Indigenous development
• Outsourcing & Vendor Development Policy
• Test facilities for use by Indian Private entities
• EoIs published for imported items under Make-II to attract capable/prospective domestic manufacturers for Indigenisation
• Details of items planned for Indigenisation uploaded on ‘Srijan Portal, Indigenisation portal of MoD.
The Government has taken several policy initiatives and brought reforms to encourage indigenous design, development & manufacture of defence equipment within India, with an aim to reduce dependency on imports. These initiatives, inter-alia, include (1) According priority to procurement of capital items from domestic sources under Defence Acquisition Procedure (DAP)-2020 (2) Notification of five ‘Services Positive Indigenisation Lists of total 509 items for which there would be an embargo on the import beyond the timeline indicated against them. There are as many as 75 items of BEL included in these lists.
In addition to this, setting up of the two defence corridors, one each in Uttar Pradesh and Tamil Nadu, aims to generate employment in the coming years. Subsequently, six nodes, namely Aligarh, Agra, Chitrakoot, Jhansi, Kanpur and Lucknow were identified for Uttar Pradesh Defence Industrial Corridor (UPDIC) and five nodes, namely Chennai, Coimbatore, Hosur, Salem and Tiruchirappalli for Tamil Nadu Defence Industrial Corridor (TNDIC). Defence Industrial Corridors (DICs) are aimed at providing a fillip to the defence manufacturing ecosystem in both States.
In order to meet the objectives set for Indigenisation of critical components, the Government of India has been implementing various Action Plans that would address all aspects of the eco-system.
BEL has a greater role to play and complement in realising the Governments objectives on Indigenisation. With the sustained business growth of BEL in Defence Electronics, the opportunities for its supply chain partners are also on the increase, especially for the MSMEs, Startups and domestic players as the companys "thrust and thirst" has been on Indigenisation and Self-reliance since its inception.
While BELs objective & initiatives provide tremendous scope for Indigenisation activities, the Company is confident of increased participation from all sectors will lead to self-reliance and a win-win situation among its supply-chain partners.
DPSUs Positive Indigenisation List:
• DPSUs Ist Positive Indigenization List released in Dec 2021 consists of 2 parts:
- 2500 items (already indigenized) of which 152 items pertain to BEL.
- 351 items (to be indigenized) during next 3 years, of which 18 items pertain to BEL, 12 items have already been indigenized.
• Out of 107 items in DPSU IInd Positive Indigenization List (released in Mar 2022), 21 items of import value
1,768 Crore pertain to BEL. 8 items have already been indigenized.
• Out of 780 items in DPSU IIIrd Positive Indigenization List (released in Aug 2022), 69 items of import value
222 Crore pertain to BEL. 10 items have already been indigenized.
• Out of 928 items in DPSU IVth Positive Indigenization List (released in May 2023), 9 items of import value
317 Crore pertain to BEL. These 9 items have to be indigenized by 2028.
• Out of 346 items in DPSU Vth Positive Indigenization List (Released in June 2024), 71 items of import value
26 Crore pertain to BEL. These items have to be indigenized by Dec 2027.
(B) Inter nal Control System and its Adequacy:
BEL has a robust system of internal controls in has documented policies and procedures on Purchase, Sub-contract, Works contract, Accounting, HR, IT and Security, Sub-delegation of Powers, etc. covering all financial and operating functions, and revised in tune with the changing times. These controls have been designed to provide a reasonable assurance with regard to maintaining of proper accounting controls for ensuring reliability of financial reporting, monitoring of operations, and protecting assets from unauthorized use or losses, compliance with regulations, etc. BEL has implemented File Life Cycle Management System (FLM) for online processing and approvals of procurement and other proposals, which facilitates complete transparency, accountability, protection and security of the information/ files. Elaborate guidelines for preparation of accounts are followed consistently for compliance with Indian Accounting Standards (Ind AS) and Companies Act, 2013.
BEL has implemented company-wide ERP system (SAP) with centralised deployment. Governance Risks and Compliance (GRC) Access Control module has been implemented as the primary means of addressing user access risks by embedding preventive rule based checks while assigning authorisations to business transactions.
Authorisations to users are given based on principles of Segregation of Duties and Least Privilege. Risk rules have been configured in the system in several business processes like Finance, Procure to Pay, Order to Cash, Material Management, HR and Payrolls. Risk analysis is regularly done to ensure that processes are under control. Additional control in the form of biometric fingerprint authentication for critical transactions is also in place. Audit logs for all changes in roles and authorisations are maintained.
BEL has its own Internal Audit Department commensurate with the size and nature of its operations, with teams of professionally qualified personnel who conduct regular and comprehensive internal audits to ensure that all checks and internal control systems are in place. Services of external professional audit firms are being utilised to carry out 100% vouching of vendor payments (including travel/medical claims reimbursements) in nine Units, BEL Corporate Office, CRL Bangalore Complex, CRL Ghaziabad and PDIC during 2024-25. The Company has sub-committee of the Board viz. Audit Committee (AC) to keep a close watch on compliance with Internal Control Systems. Also, being a Government Company, BEL is subject to Audit by Comptroller & Auditor General of India (C&AG).
. ItThe BEL Internal Audit Manual outlines the internal audit process in line with the changes that are taking place in the business world with respect to the business process, statutory compliances and the expectation of the stakeholders. It addresses the areas relevant for auditors information and knowledge for conducting the audit in a meaningful way. Internal Audit Manual serves as a professional guide for conduct of audit and to improve professional approach for effective internal audit function.
BELs Internal Audit checks the adequacy and effectiveness of internal control system through regular audits, system reviews, process reviews, data analytics, etc. and provides assurance on compliance with the legal and regulatory requirements, internal policies and procedures of the Company. The State-of-the-art Data Analytical Tool is also being used in Internal Audit for data analytics for identification of outliers.
Internal Audit issues reports to the Auditees and after considering the Auditees replies / action taken reports, IA Centres submit reports of significant issues observed during audit to Head of Internal Audit on periodical basis. Head of Internal Audit submits his/her reports to Companys Management at various levels for corrective actions and submits report to the Audit Committee of Board indicating status of compliance with well-established internal control systems of the Company and plan for mitigating the key risks associated with major activities of the Company.
BELs Internal Audit teams are located at major manufacturing units and Corporate Office of the Company which carry out audits as per risk-based Annual Audit Programme approved by Audit Committee of the Board. The Audit Committee of the Board of Directors, comprising Independent Directors, regularly reviews the significant audit findings, adequacy of internal controls, and compliance with accounting standards and policies from time to time and issues directives for compliance to further strengthen the internal control system keeping in view the dynamic environment in which the Company is operating.
The Company continues its efforts to align all its processes and controls with global best practices, to assure the highest level of Corporate Governance.
(C) Financial/Operational Performance:
1. Strategy & Objectives: The main objectives of the financing strategy of your Company are to generate adequate internal resources for profitable growth, to give value for money and create wealth for shareholders, to maintain the highest credit rating and to build in risk mitigation strategies in the business processes to minimise exposure to financial risks.
2. Performance Highlights:
| (Rs. in Lakhs) | ||
| Particulars | 31 March 2025 | 31 March 2024 |
| Revenue from Operations | 23,65,801 | 20,16,939 |
| Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) | 6,76,759 | 4,99,817 |
| EBITDA Margin (EBITSA/Revenue from operations [Net]) | 28.61% | 24.78% |
| Profit After Tax | 5,28,825 | 4,02,000 |
| No. of Days Inventory/Value of Production | 139 | 133 |
| No. of Days Trade Receivables/ Turnover | 144 | 136 |
| Current Ratio | 1.76 | 1.54 |
| Debt Equity Ratio | - | - |
3. Analysis of Financial Performance of FY 2024-25:
• Turnover registered a growth of 16.17% from
19,81,993 Lakhs in 2023-24 to 23,02,410 Lakhs in 2024-25.
• Value of Production has increased from 20,38,050 Lakhs in 2023-24 to 23,83,493 Lakhs in 2024-25. Increase of 16.95%
• 31.55% increase in Profit After Tax, from 4,02,000 Lakhs in 2023-24 to 5,28,825 Lakhs in 2024-25.
• Increase of PAT to Turnover Ratio from 20.28% in 2023-24 to 22.97% in 2024-25.
• Turnover per Employee has increased from 221.77 Lakhs in 2023-24 to 260.34 Lakhs in 2024-25.
• Earnings Per Share has increased from 5.50 in 2023-24 to 7.23 in 2024-25.
• Book Value Per Share has increased from 22.00 in 2023-24 to 26.95 in 2024-25.
• Net Worth has increased from 16,08,239 Lakhs in 2023-24 to 19,69,768 Lakhs in 2024-25.
• Return on Net Worth has increased from 25.00% in 2023-24 to 26.85% in 2024-25. The main reason for the increase is due to an increase in Value of production by 16.95%.
(D) Corporate Social Responsibility:
Bharat Electronics limited remains committed to its corporate social responsibility and undertakes the CSR activities that benefit the rural and marginalised sections of the society. The key CSR interventions are in the sectors of Healthcare, Education, Skill development, Rural Development & Environment sustainability. The total prescribed CSR expenditure for FY 2024-25 is 8,188.75 Lakh. Department of Public Enterprise (DPE) has defined CSR themes viz., "Healthcare & Nutrition" & "PM internship Scheme for CSR interventions for FY 2024-25. During FY 2024-25, Health care related projects were taken up amount with a budget of 3,575.08 Lakh augmenting the health care infrastructure in rural and remote areas. Other sectors addressed during FY 2024-25 are Education, Skill Development, Environment sustainability and Rural Development.
BELs CSR interventions demonstrate its steadfastness in uplifting the underprivileged part of the society, contributing to its overall development thus creating a value for its stakeholders.
(E) Development in Human Resources:
B EL lays great importance on sustained personal professional development of its employees in order to ensure that the employees remain future-ready and agile to meet the challenges of the evolving industry landscape.
The BELs Leadership Competency Development Framework, launched in July 2024, is a comprehensive and well-crafted framework across 4 tier model – Young Leaders, Aspiring Leaders, Emerging Leaders and Visionary Leaders. The framework outlines critical leadership competencies to be developed at each of these levels to ensure a steady stream of future ready leaders.
The focused learning interventions cater to the developmental needs of the Executives with targeted training programs to hone the behavioral and leadership competencies in line with the BELs Leadership Competency Development Framework. Along with the ongoing efforts to transform the workforce into leaders of tomorrow, plethora of Functional and Technology specific programs, Management Development Programs, Quality Related Certification Programs are organized both Internally through Subject Matter Experts and Externally through Premier Training Institutions. These programs ensure that the Employees are always a notch ahead in adapting to the changing business needs.
Some of the Learning and Development initiatives rolled out during the year are enumerated below:
| Sl. No. Program Name of the | Brief of the Program | Target Audience | (Count of Participants) |
| 1 Agility Building for Effective Leadership(ABLE) | In-depth understanding/ involvement of various business concepts for building agility for effective leadership | Executives in E-VI to E-VII Grade | 59 |
| 2 Advanced Competency Program(ACP) | Cultivating high-order behavioural competencies in senior executives such as seizing opportunities, building & leveraging partnerships, winning with change, etc. | Executives in E-VI to E-VII Grade | 64 |
| 3 Advanced Leadership Program (ALP) | Shifting Perspectives from an operational to a more strategy focused mindset development | Executives in E-VI to E-VII Grade | 31 |
| 4 ARISE | Developing various business fundamentals needed for young leaders for Leading Self | Executives in E-I to E-III Grade | 70 |
| 5 Aspire | Developing basic understanding of business concepts across all functional areas | Executives in E-I to E-III Grade | 32 |
| 6 Brain and Behaviour | Focus on psychological health challenges experienced by humans, Stress Management Techniques, and prioritizing good lifestyle choices for sustained brain health | Executives in E-V to E-VII Grade | 300 |
| 7 Certificate program in Marketing Management | Exploring fundamentals of marketing, frameworks & strategies to enhance understanding of evolving market landscape & challenges for BEL. Understanding of global perspective for business growth. | Executives in E-IV & E-V Grade | 30 |
| 8 Commercial Champions | Equipping executives with insights into the dynamics of SCM to tackle business challenges | All MM Executives | 51 |
| 9 Communiscape | Developing a deeper insight into the nuances of impactful and effective communication with special focus on social media handling | Executives in E-I to E-III Grade | 48 |
| 10 Creativity Crusaders | Managing R&D as a dynamic and holistic function for capability building & innovation management | All D&E, CRL, PDIC Executives | 61 |
| 11 Domestic Enquiry | Equipping participants with the understanding of procedural and legal aspects of domestic enquiry | Executives across levels | 32 |
| 12 Finance for Non Finance (HR) | Financial aspects to be considered for HR role | HR Executives | 28 |
| 13 Finance for Non Finance (Marketing) | Financial aspects to be considered for Marketing role | Executives in Marketing & Product Support | 59 |
| 14 Finance for Non Finance (Production and Allied Areas) | Financial aspects to be considered for Executives working in Production & its allied areas | Executives across levels from Production, MM, D&E, R&D, Purchase & allied areas | 57 |
| 15 Financial Frontrunners | Developing in-depth financial acumen exploring cutting-edge financial techniques to enhance efficiency and drive growth | All Finance Executives | 35 |
| 16 Groom | Workshop on the aspects of a well-groomed professional & displaying a professional presence at workplace | Executives in E-I to E-III Grade | 54 |
| 17 HR for Non HR | Human Resources aspects to be considered by Line Managers in managing business and people | Executives in E-VI to E-VII Grade | 27 |
| 18 I3 | Designing & delivering effective presentations, structuring presentations | Executives in E-IV & E-V Grade | 42 |
| 19 IGNITE | Facilitating creativity through design thinking and have a systematic approach towards managing innovation in the workplace | Executives in E-IV & E-V Grade | 96 |
| 20 Induction Program | Extensive 27-days induction program to enable newly joined engineers and officers to understand business operations including plant & customer visit to ensure smooth integration into the new work environment | Executives in E-II Grade | 305 |
| 21 Leader Finlearn | Cultivating a Finance Mindset through analysis of financial statements, understanding the relation between business operations and financial outcomes | Executives in E-VI to E-VII Grade | 36 |
| 22 Leadership Acceleration Program | Enhancing leadership skills for nurturing a high performance culture, team building & conflict management, coaching & mentoring | Executives in E-VI to E-VII Grade | 69 |
| 23 Leading for Success | Modifying perspectives of Executives to emphasize on importance of growth mindset to transition into a Management role | Executives in E-I to E-III Grade | 45 |
| 24 Marketing Maestros | Strengthening the Marketing Management fundamentals for competitive advantage in a dynamic business environment | Executives in E-I to E-V Grade | 58 |
| 25 PGCM-Supply Chain Management | Creating a talent pool of SCM specialists through imparting domain specific knowledge, skills & competencies to develop & implement strategies in supply chain domain | Executives in E-III & above Grade | 25 |
| 26 Power of Collaboration | Outbound team-building program for cross-functional teams to develop necessary team skills for a conducive work environment | Executives across levels | 162 |
| 27 refreSHEr | Enhancing Women Leadership Skills | Women Executives in E-I to E-III Grade | 73 |
| 28 RTI | Right To Information Act Concept, Framework & relevance for Public Sector Enterprise | Executives Across levels | 267 |
| 29 SHEen | Elevating Women Leadership Skills | Women Executives in EVI to EVII Grade | 69 |
| 30 Spark | Enabling executives to understand and apply the concepts on creativity, lateral thinking, and innovation | Executives in E-I to E-III Grade | 80 |
| 31 Symposium on Yoga (Health & Wellbeing) | Raise awareness about the advantages that yoga offers for physical, mental and emotional well-being. | Executives across levels | 235 |
| 32 Torch | The power of collaboration to strengthen the system for building organizational capabilities through innovation creativity | Executives in E-VI to & E-VII Grade | 88 |
| 33 Transformational Trailblazers | Refresher workshops to reinforce HRM latest trends and All HR Executives developments globally leading to a high performing workforce and organization | 23 | |
| 34 unleaSHEd | Strengthening Women Leadership Skills | Women Executives in E-IV & E-V Grade | 56 |
| 35 Leadership Mindset | Imbibing a growth oriented mindset and conscious leadership approach | Executives in E-VII &above Grade | 42 |
| 36 Leadership Cohort | Empowering Excellence through exclusive workshops for GMs on strategic orientation, financial acumen, and effective administration | Executives in E-VII & E-VIII Grade | 14 |
| 37 Globe X | Navigating the complexities of International Trade including cross-border transactions, EXIM regulations & framework, financial mechanisms and global logistics | Executives in E-II to E-VIA Grade | 25 |
| 38 Executive Coaching | Enabling Leaders to excel through personalized executive coaching | Executives in E-VIII Grade | 8 |
| 39 Awareness session on CSR Essentials | Providing overview of key aspects of CSR & regulatory compliance, effective implementation of CSR initiatives and ensuring compliance | Executives in E-V to E-IX Grade | 27 |
| 40 SHRM Senior Certified Professional Certification | Certification from Society for Human Resource Management for HR Professionals | Executives in E-IV to E-VIA Grade | 10 |
| 41 STAR | Building Strategic and Resilient Leadership equipped with cross functional domain knowledge | Executives in E-VII Grade | 51 |
During the FY 2024-25, various Technology programs were conducted to enhance Domain Knowledge and Competencies of our engineers in various technology areas.
| Sl. No. Name of the Program | Brief of the Program | Target Audience | Coverage (Count of Participants) |
Short term courses |
|||
| 1 HF Antenna for communication & Jammer systems | Topics covering HF propagation, Antenna Fundamentals, HF antennas materials & construction, HF antenna performance and validation Field Evaluation, Antenna Tuners-design, Multi Frequency Jamming in HF- Approach & Methodology including Hands on sessions on HF Antenna design | Executives working in Antenna and Communication-on domain in E-II to E-V Grade | 27 |
| 2 Ballistic Designs & Propulsion for Ammunition | Topics covering types of Ballistics, Ballistic Impact Design, Ballistic Response and Penetration Mechanics, Numerical studies, Terminal Ballistics and Impact Physics, Ballistic Missiles and Submarines. Hands on sessions were also conducted using Abaqus - FES. | Executives working in Arms, Ammunition and weapon domain in E-II to E-VI Grade | 26 |
| 3 Advanced Structural & Thermal Analysis using ANSYS | Topics covering Analysis of systems using Finite element Analysis (FEA), Meshing and Advance Mechanical Connections, Advance Mechanical Connections, Interface Treatments, vibrations, Nonlinear Diagnostics including hands-on practice on ANSYS software | Executives working in D&E in E-II to E-V Grade | 31 |
| 4 Electronics Cooling using ANSYS ICE Pak | Topics covering Ansys Solutions for Electronics Thermal Management, best practices, build an electronics system-level model, learn tips & tricks to increase productivity, transient power variation, set up & run a transient simulation including hands-on practice on ANSYS Icepak module | Executives working in D&E in E-II to E-V Grade | 23 |
| 5 Solid Works Design, Modeling & Optimization | Topics covering Part & Assembly Modeling, Sheet Metal & Surface Modeling, Modal Analysis, Buckling Analysis, Thermal Analysis and Flow Simulation, Structural Coupled Analysis, Optimization of Designs including hands-on practice on Solid Works Software | Executives working in D&E in E-II to E-V Grade | 28 |
| 6 Communication & Signal Processing for Electronic System | Topics covering Digital Modulation Techniques, Basics of Estimation and Detection, Polar codes with applications in 5G systems, Quantum Communications, 5G standards, Deterministic Ethernet Technologies, Massive Multiple Input Multiple Output (MIMO), and Orthogonal Frequency Division Multiplexing (OFDM). There were hands on sessions using MATLAB Software. | Executives working in Communication domain in E-II to E-VIA Grade | 29 |
| 7 Antenna Design Techniques using CST Studio | Topics covering Electromagnetic radiation and antenna parameters, antenna types, Dipole antenna and patch antenna working principle, radiation properties, antenna efficiency, allied domain in Hands on sessions for Antenna design using CST Microwave Studio | Executives working in Antenna Design and E-II to E-V Grade | 25 |
| 8 RF Measurements and Analysis | Topics covering Maxwell equations, Transmission line, characteristic impedance, reflection, transmission, distortion & dispersion, phase delay & group delay, Coaxial cables, RF circuit theory and S-parameters, Smith chart, RF power measurements and detectors, working principle of vector network analyzer and spectrum analyzer, Time domain & frequency domain measurements | Executives working in RF & Microwave domain in E-II to E-V Grade | 55 |
| 9 AR/VR/MR/XR in Defence Electronics | Topics covering concepts of AR,VR,MR, XR-VR, AR and MR, XR Trends, Industry 4.0 and Digital Transformation, Potential of IOT and XR. Industry solution and demo with Vuforia Studio, Vuforia Engine, Vuforia Chalk, Vuforia Expert capture, Vuforia Studio interactive demo | Executives working in D&E & Testing in E-II to E-VIA Grade | 26 |
| 10 Design of Air Frames, Shells and Warheads for Arms & Ammunition | Topics covering Warheads, Precision Guidance Monitor, Artillery Rockets & Shells, Flight dynamics & Stability Guidance, Control & Navigation, Integration, Arming Mechanism & Fuse Setter | Executives working in Arms, Ammunition and Weapon domain in E-II to E-V Grade | 21 |
| 11 Design of broadband EW Antennas & Radomes | Topics covering Wide band/Broadband Antennas, Broadband Characteristics, UWB Antennas, Blade Antennas, Matching Techniques, Performance Parameters, Broadband Antennas for Vehicle-Mounted EW Systems | Executives working in Antenna & EW domain in E-II to E-V Grade | 22 |
| 12 Modern EW Systems & Its Challenges | Topics covering Strategic and Tactical EW systems, Communication, Radar EW technologies, Design Challenges, Cognitive EW systems, Jamming & Anti-Jamming Techniques | Executives working in EW domain in E-II to E-V Grade | 35 |
| 13 Workshop on IoT | Topics covering IoT Architecture and Layering Concepts, IoT platform, IoT Application development, Use of Python, Raspberry Pi, other micro-controllers & associated open source software tools | Executives working in D&E & testing domain in E-II to E-V Grade | 23 |
| 14 Avionics Design & Rotor Dynamics | Topics covering Basics of vibrations, vibration in rotor bearing, Rotor Dynamics, Rotor Vibration, balancing of rotors, influence of bearings, Torsional Vibration Analysis, Rotor Vibration Measurement and Condition Monitoring | Executives working in Avionics, platform design & D&E domain in E-II to E-V Grade | 22 |
| 15 Workshop on AI/ML | Topics covering Fundamentals of Artificial Intelligence, Python For AI and Deep Learning, Focus on Real-World Research and Industry Problems, Hands-On Training and Practice -Neural Networks, Object Detection Models etc Additionally it covers the recent AI Trends and their applications in areas like Image Processing, Computer Vision and Robotics | Executives in E-II to E-V Grade | 32 |
| 16 Cyber Security for Web Apps & API | Topics covering Web Fundamentals and Secure Configurations, Input-Related Defenses, Authentication and Authorization, Web Services and Front-End Security, APIs and Micro services Security, DevOps and Defending the Flag, Web Application Penetration and Cyber Security Testing | Executives in E-IV & E-V Grade | 44 |
| 17 Network Security Essentials | Topics covering Introduction to Network fundamentals & network security, routers and firewalls, major network attacks, wireless security, network monitoring tools, browser security methods, password security methods, tools used to secure networks, identify and mitigate various types of network security threats and attacks that plague network security systems like sniffing, DoS & DDoS attacks, fraggle and smurf attacks, DNS poisoning, DNS security, information security, basics of cryptography & its applications | Executives in E-II to E-V Grade | 26 |
| 18 Design Patterns for SW | Topics covering introduction to the concept, MVC, Roles, Interface-Vs-Implementation, Factory Method Design Pattern, Singleton Design Pattern, Abstract Factory Design Pattern, Proxy Design Pattern, Composite Design Pattern, The Flyweight Design Pattern, The Interpreter/Visitor Design, Chain of Responsibility Design Pattern and other advanced topics | Executives in E-II to E-V Grade | 24 |
| 19 Node JS and Angular JS, C-Sharp | Topics covering introduction to Java Script, Components In React with Essentials, Node JS And Modules-HTTP Module, File System, URL Module Node Package Manager - Details of Package. Json File Events, Upload Files, Email. Connecting React Application to Node Js Backend Server Popular Node Js Packages such as Express, Mern Stack | Executives in E-II to E-V Grade | 39 |
| 20 Overview of SAP S/4 HANA overview | Introduction To SAP S/4 HANA Business Suite, Data management(on-premise/cloud), embedded analytics, architecture, system-wide concepts, logistics, in-memory database concepts user experience-SAP Fiori, best practices, SAP success factors implementation challenges | Executives in E-II to E-V Grade | 22 |
| 21 UI/UX Design for electronic systems | Topics covering fundamentals of UI Vs UX Design, Design Thinking & Design Cognition, refining design brief, modeling users/work domain, design ideation & architecture | Executives in E-II to E-V Grade | 30 |
Certification Training programs |
|||
| 22 RF Seekers & Anti-drone Technologies | Topics covering Active/Passive Seekers, Multi-band/Function Designs, Imaging Techniques, Drone Target Detection, Anti- Drone Technology Cognitive/Non-linear Drone trajectory tracking. There were Hands on sessions using MATLAB software | Executives working in RF seekers, Drones, unmanned systems domain in E-II to E-V Grade | 46 |
| 23 MATLAB for Simulink/CV/IP/ Sensor Fusion | Topics covering Simulink Modeling, Signal Processing Techniques, Machine Learning Models, Computer Vision, Image Analysis, Deep Learning & Sensor Fusion Techniques using MATLAB software | Executives working in D&E and testing domain in E-II & E-III Grade | 21 |
| 24 NPTEL (20 Unique NPTEL | Topics covering Technology Domains that include introduction Certificate Course) to probability theory and stochastic process, data structures and algorithms through java, electronics systems design: hands on circuits and PCB design with CAD software, system design through Verilog, robotics, programming in modern C++, VLSI design flow: RTL to GDS, artificialintelligence : search methods for problem solving, problem solving through programming in C, principle of vibration control, dynamic behaviour of material, applied accelerated artificial intelligence, applied accelerated artificial intelligence, advance power electronics and control, computer vision, dynamic behavior of material, de-mystifying networking, introduction to machine learning, system design using Verilog, digital design with Verilog | Executives in E-II to E-VIA Grade | 7-Attending 23-Completed |
One day Workshops |
|||
| 25 QT Fundamental Technologies | Topics covering the QT technical capabilities, Design studio, demo etc. | Executives in E-II Grade | 51 |
| 26 QT Quality Assurance Summit | Topics covering QT - QA tools for cross platform UI Testing, Code coverage, Static code analysis, Architecture verification | Executives in E-II to E-VI Grade | 105 |
| 27 EW Fundamentals | Topics covering Fundamentals of EW systems | Executives in E-II & E-III | 142 |
| 28 Solid edge & Simcentre | Topics covering Simcentre 3D overview and various techniques and applications | Executives in E-II to E-V | 54 |
| 29 AI/ML Workshop | Topics covering Introduction to AI, AI building blocks, AI in electronics, Design Thinking etc. | Executives in E-II to E-VI Grade | 73 |
| 30 One day AI/ML Workshop to the scientists of GAD/CRL by IISc | Topics covering advance concepts of AI/ML, latest researches in AI/ML, practical use cases of AI/ML at workplace, demo projects with a view on Robotics | Executives in E-II to E-VII Grade | 220 |
| 31 One day work shop on RADAR Fundamentals | Topics covering fundamental concepts of RADAR, types of RADAR, basic working of RADAR, RADAR design concepts | Executives in E-II & E-III Grade | 225 |
M.Tech Programs |
|||
| 32 M.Tech (Industrial AI) -2024 from IIT Madras | Topics covering domain of Industrial AI: mathematical foundations for data science, applied time series analysis, multivariate data analysis, machine learning and its applications, applied deep learning, online & reinforcement learning, industrial AI laboratory, industrial AI at scale laboratory, AI in predictive maintenance, reliability and warranty, AI in process and logistic optimization, industrial vision AI | Executives in E-III to E-VI Grade | 17-Attending |
| 33 M.Tech (IC Design)-2024 from IIT Madras | Topics covering domain of IC Design: electrical networks Executives and systems, probability foundations for electrical engineer, E-VI Grade estimation theory, detection theory, applied linear algebra I for EE, digital signal processing, digital modulation and coding, introduction to wireless and cellular communication, communication networks, image processing, analog electronic circuits, digital IC design, semiconductor device modeling, analog IC design, power management integrated circuits, wave propagation in communication, advanced topics in signal processing-radar, introduction to machine leaning, advance topics in AI: Deep Leaning For Imaging, RF integrated circuits, digital design verification, CAD for VLSI broadband communication circuits, VLSI technology, VLSI data conversion circuits, WLAN: theory and practice, advanced topics in signal processing (modern computer), introduction to information theory and project | in E-III to | 7-Attending |
| 34 M.Tech-CSE (Information Security)2024 from IIT Madras | Topics covering logic and combinatorics in computer science, Executives cryptography basics course, advanced data structures and E-VI Grade algorithms with lab, information security and secure coding, cloud computing, mining massive data sets, machine learning, data analysis for research, secure systems engineering, computational number theory for cryptography, advanced computer organization with lab, advanced operating systems with lab, advanced networking with lab | in E-III to | 5-Attending |
| 35 M.Tech (Mechanical Design) 2022 from IIT Madras | Topics covering domain of product design, engineering design Executives optimization, advanced composites, advanced mechanics E-VI Grade of solids, product reliability, computational methods on engineering, advanced dynamics, vibrations, FEA, advanced composites | in E-III to | 16-Attending |
| 36 IITM - M.Tech (Communication & Signal Processing with Networks Specialization) 2021 from IIT Madras | Topics covering domain of communication & signal processing, Executives with focus on networks that includes wireless LAN, Cellular E-VI Grade Communication Networks | in E-III to | 4-Attending 9-Completed |
In the Quality Domain the following Programs were conducted during the FY 2024-25.
| Sl. No Name of the Program | Brief of the Program | Target Audience | Coverage (Count of Participants) |
| 1 Certified Quality Engineer (ASQ-CQE) | The ASQ-CQE Certification is a globally recognized certification for Quality Engineers working in any field. This is the mother of all ASQ Certifications, and it is one of the most comprehensive programs on quality. The program covers the whole set of quality concepts which are imperative for any Engineer working in any field, and who intends to improve his/her working processes. The ASQ-CQE Body of Knowledge (BoK) covers all the latest and relevant global concepts on quality and related topics. | Executives in E-III to E-VIA Grade | 24 |
| 2 Certified Reliability Engineer (ASQ-CRE) | The ASQ-CRE is one of the most sought-after and globally recognized certification for Design Engineers. The ASQ- CRE Body of Knowledge (BoK) includes Design review and control, Prediction, Estimation, Apportionment methodology, FMEA, Planning, Operation and analysis of reliability testing including mathematical modeling, understanding human factors in reliability and the ability to develop and administer reliability information systems for failure analysis, design, and performance improvement over the entire product lifecycle. | Executives in E-III to E-VIA Grade | 20 |
| 3 Certified Supplier Quality Professional (ASQ-CSQP) | The ASQ-CSQP is one of the most sought-after and globally recognized certification for Material Management (Purchase & Subcontract department). The Certified Supplier Quality Professional works with an organizations supply chain and suppliers to continuously improve performance of key system components (increase lifecycle, reduce scrap, improve repair processes) by implementing process controls and developing quality assurance plans. The certified supplier quality professional tracks data, identifies improvement projects, and manages cross functional implementation to improve performance of key components and suppliers. | Executives in E-III to E-VIA Grade | 20 |
| 4 Project Management Professionals (PMP) | The PMP Certification is one of the most sought-after and globally recognized certification for Project Managers. The Project Management Body of Knowledge (PMBOK) includes ten Knowledge Areas (KAs) and the Agile Practice Guide. There are a total of 49 processes in these ten KAs grouped under five Process Groups i.e. Initiating, Planning, Executing, Monitoring & Controlling and Closing Process Group. This program introduces the participants with the basic Project Management terminology, glossary and concepts including the Agile concepts as given in the PM-BOK Guide. This "35 Contact Hours Project Management Preparatory Training" Program is a mandatory requirement for taking the PMP certification exam offered by PMI-USA. | Executives in E-IV to E-VII Grade | 42 |
| 5 Reliability, Availability, Maintainability (RAMS) | Awareness program for junior executives with respect to Reliability basics. The RAMS (Reliability, Availability, Maintainability and Safety) disciplines are a set of tools that make it possible to ensure that a product, process or system fulfills the mission for which it was designed, all under the conditions of reliability, maintainability, availability and well- defined safety. | Executives in E-II & E-III Grade | 23 |
| 6 Basics of Project Management (BPM) | Awareness program for junior Executives with respect to Project Management on basic knowledge about handling of projects. Project management involves planning, organizing, and overseeing tasks to achieve specific goals within defined constraints like time and budget, ensuring successful project completion. | Executives in E-II & E-III Grade | 31 |
| 7 Certified Data Analytics (CDA) (ISI) | The CDA course covers data management techniques, supervised learning for developing models using statistical learning techniques, and machine learning techniques. The insights gained aids in a fact-based decision-making culture and aligning strategies with business needs. | Executives in E-III to E-VIA Grade | 18 |
| 8 Basics of Data Analytics (Data-X) (ISI) | Based on the fundamentals of Certified Data Analytics course, this course provides insights into data analysis to develop specific strategies and actions to cost reduction, new product development and optimize customer offerings, and make smarter business decision that drives growth and reduces risks. The course covers overview of R Studio, Data Summarization, Visualization Techniques, Test of Hypothesis & ANOVA, Case Studies. | Executives in E-II & E-III Grade | 26 |
| 9 ISO 14001:2015 EMS Internal Auditor Program | This course provides an understanding of the global environmental issues, the national and international legal and regulatory framework for environmental protection, and the requirements of the ISO 14001:2015 Standard. The program also covers the auditing requirements, and methodologies essential to conduct an effective internal audit as per ISO 19011 Guidelines. Audit case studies and open discussions are used to reinforce the learning and required skills of an internal auditor. | Executives in E-IV to E-VIA Grade | 24 |
| 10 AS 9100 Lead Implementer Program | Lead Implementer is an important aspect of Aerospace Quality Management System. This course provides Introduction to Aerospace Standard (AS 9100), Foreign Object Damage (FOD), AS 9100 requirements Formats & Checklist. | Executives in E-II & E-III Grade | 30 |
| 11 ISO 27001:2022 ISMS Internal Auditor Program | This course provides overview and requirements, internal audit process, Statement of Applicability, audit case studies, audit report & follow-up. The program also covers the auditing requirements, and methodologies essential to conduct an effective internal audit as per ISO 27001 Guidelines. Audit case studies and open discussions are used to reinforce the learning and required skills of an internal auditor. | Executives in E-IV to E-VIA Grade | 21 |
| 12 ISO 45001:2018 OH&S Internal Auditor Program | This course provides overview and requirements, internal audit process, conformance & NC, case studies, audit report & follow-up. The program also covers the auditing requirements, and methodologies essential to conduct an effective internal audit as per ISO 45001 Guidelines. Audit case studies and open discussions are used to reinforce the learning and required skills of an internal auditor. | Executives in E-IV to E-VIA Grade | 18 |
| 13 ISO 27001:2022 ISMS Lead Implementer Program | This course provides introduction to the concept, risk relationships, information security policy, ISO 27001 requirements, formats & checklist, Statement of Applicability. | Executives in E-I to E-III Grade | 19 |
| 14 ISO 45001:2018 OH&S Lead Implementer Program | This course provides introduction to the concept, implementation plan of an OH&S Management Standard, ISO 45001 requirements, formats & checklist. | Executives in E-I to E-III Grade | 21 |
| 15 ISO 14001:2015 EMS Lead Implementer Program | This course provides introduction to the concept, International Organization for Standardization, (ISO)-14001, global environmental issues, legal framework, formats & checklist. | Executives in E-II & E-III Grade | 23 |
| 16 Integrated Quality Management (IQM) | Awareness program on use of quality tools for process improvements. Integrated Quality Management (IQM) combines various quality management systems into a single, cohesive framework to improve efficiency, streamline processes, and ensure compliance across an organization. | Executives in TC-1 to E-I Grade | 71 |
| 17 SIX SIGMA DMAIC - GREEN BELT (DMAIC-GB) | The program covers basic concepts of Six Sigma, various quantitative data analysis techniques for structured problem solving method, lean concepts, principles and tools. This program will equip the participants to acquire Six Sigma Green Belt certifications, and to successfully apply the methodology for breakthrough improvement. | Executives in E-III to E-VIA Grade | 107 |
| 18 Quality Concepts for Industry 5.0 Program | This course provides the overview on evolution of Quality5.0, establishing and implementing Quality 5.0 principles, Quality 5.0 tools & value propositions, ASQ Quality 5.0 study, context of Industry 5.0, alignment of TQM with Industry 5.0, etc., leverage data analytics, artificialintelligence, Internet of Things | Executives in E-II & E-VII Grade | 23 |
| 19 Quality Management Tools Program | This course provides overview on Quality Control tools, Quality Management, Quality Planning, Lean Concepts and tools for process improvements. | Executives in E-II & E-III Grade | 221 |
| 20 Workshops on Functional Domain Knowledge | Workshops were conducted on various functional domain knowledge including Operation Management, Product Process Innovation, Lean Six Sigma, Supply Chain Management, Effective Vendor Management, Risk management. | Executives in E-II & E-III Grade | 144 |
Some of the external/open programs/conferences attended by our Executives are:
1. Project Management Professionals Conference organized by Project Management Institute
2. Training Program on "Preventive Forensics" for the CVOs & Vigilance Officers at NFSU, Gujarat organized by National Forensics Sciences University (NFSU)
3. National Conference of Corporate Company Secretaries
4. Management Development Program on latest advances in Innovation by Xavier Institute of Management & Entrepreneurship (XIME)
5. 48th Regional Conference of Company Secretaries, Bengaluru organized by Institute of Company Secretaries of India (ICSI)
6. Training on Ethics and Value in Public Governance organized by Institute of Secretariat Training and Management (ISTM)
7. Workshop on Income Tax (WITAX-12) organized by Institute of Secretariat Training and Management (ISTM)
8. 14th Executive Development Program for Executives of CPSEs organized by Standing Conference of Public Enterprises (SCOPE)
9. 52nd National Convention of Company Secretaries organized by Institute of Company Secretaries of India (ICSI)
10. One Day capacity building program during Vigilance Awareness Week (VAW) 2024 organized by Delhi Metro Rail Corporation Limited (DMRCL)
11. 5th edition of the Smart Railways Conclave, Accelerating towards Viksit Bharat, at New Delhi organized by Federation of Indian Chambers of Commerce and Industry (FICCI)
12. 2 Day Training Program on "CSR for High Impact Corporate Performance" organized by Institute of Public Enterprises
13. 3rd Annual Conference on White Collar Crime, Internal Audit and Internal Corporate Investigations organized by Achromic Point Consulting Private Limited
14. Training Program on Withholding Tax Fees organized by
SPZ Esperti Fiscali Terp LLP
15. 3 Days training program on Public Procurement organized by IIM Visakhapatnam -25
16. Two days online training program on Preventive Vigilance and Good Governance organized by Pari Training Institute LLP
17. 3 Day Residential Training Programme for IOs/POs organized by CBI Academy Ghaziabad
18. Tech Conference 2024 - Redefining Trust Through Technology organized by Institute of Internal Auditors, India – Bangalore Chapter
19. HR Professionals Day 2025 organized by National Institute of Personnel Management- Karnataka Chapter
20. 3 Day residential training program on Public Procurement organized by Arun Jaitley National Institute of Financial Management (AJNIFM)
21. AMMO India 2024 - Conference on Military Ammunition organized by Federation of Indian Chambers of Commerce and Industry (FICCI)
22. Certificate Course on Internal Audit by Institute of Chartered Accountants of India
23. One-day workshop on Fostering Industrial Harmony and strengthening business: Practical Insights for Healthy Industrial Relations & Effective Negotiations organized by NIPM Karnataka Chapter
24. Vigilance Course for Junior and Middle Level Vigilance Officer by CBI Academy
25. Training program on preparation and maintenance of Reservation Roster Register for SCs, STs, OBCs, EWS and PWBD organized by The Institute of Good Governance
26. 35th National Meet of Forum of Women in Public Sector (WIPS)
Abhyudaya Centre for Learning (ACL): FY 2024-25
Initiatives
Abhyudaya Centre for Learning, a centralized Learning facility created for Non-Executive employees in 2024, launched its competency enhancement initiatives in the Technology, Quality and Behavioral domains during the year.
True to its motto, "Transform Talent, Inspire Excellence", Abhyudaya Centre for Learning (ACL) is committed to develop peoples capabilities, hone their skills, forge teams and encourage excellence in the workplace, to meet the organizations evolving needs and business goals.
Key programs organised by ACL in the Technology, Quality & Behavioural domains are:
| Sl No Program Name | Brief of the program | Target Audience | Coverage (Count of Participants) |
| 1 Basic Electronics for Non- Electronics | To impart cross-functional knowledge for better understanding of allied functions & promote teamwork | Non-Executives with Qualification - BE/AMIE in Mechanical stream | 93 |
| 2 Mechanical Engineering Fundamentals for Non- Mechanicals | Non-Executives with Qualification - BE/AMIE in Electronics stream | ||
| 3 RF Fundamentals | To impart knowledge in Core Electronics domain areas such as Radars, EW Systems, Communication, Antennas, RF basics & measurements, MI/EMC etc | Non-Executives with Qualification - Diploma (E&C) or allied branches & Working in Testing, | 137 |
| 4 Basics of Digital & RF Measurements | |||
| 5 EMC Course | QA, Assembly | ||
| 6 Microwave & Antenna Fundamentals | Non-Executives working in Testing, Assembly | ||
| 7 Electronic Warfare Systems | Non-Executives working in D&E, Testing & Assembly (EW related areas) | ||
| 8 Modern Radars | Non-Executives working in D&E, Testing & Assembly (Radar related area) | ||
| 9 SMT Technology & Fundamentals of Semiconductor Packages | To impart knowledge of various SMT components, their packaging & operations | Non-Executives working in D&E, Testing, Assembly, Production Control, QA | 48 |
| 10 Geometric Dimensioning & Tolerances (GD&T) | To impart knowledge of Mechanical drafting & design | Non-Executives working in D&E, Production, CDO | 52 |
| 11 Solid Works | |||
| 12 Cyber Security | To enhance Competency in Cyber Security domain | Non-Executives with regular work on PCs / | 57 |
| 13 Advanced MS Office Applications | To enhance working knowledge of MS Office Applications | MS Office Users | |
| 14 SAP Modules | To enhance Competency in various SAP Modules - PLM, PP, MM, SD, HR, FI, QM | Non-Executives working in respective functions (PLM, PP, MM, SD, HR. FI. QM) | 147 |
| 15 Competency Enhancement program for Finance | To enhance Competency in Finance domain | Non-Executives working in Finance Department | 41 |
| 16 Productivity Enhancement Tools | To impart knowledge on various quality functions, productivity management techniques, QCC tools, ISO Certifications etc | Non-Executives working in production related areas | 169 |
| 17 Quality management tools & techniques | Non-Executives QC Circle members | 78 | |
| 18 Awareness on ISO Certification programs | Non-Executives inducted in WG-4 & above | 142 | |
| 19 Consequences of Counterfeit Components & FODs | Non-Executives working in D&E, Assembly, MM, PC, QA, Testing, Fabrication, Electroplating | 93 | |
| 20 Industry 4.0 | Overview of Industry 4.0 & various technologies used such as IoT, AI, Big Data, Robotics & Automation etc | Non-Executives with Qualification - BE/AMIE | 94 |
| 21 Personal Enrichment | Programs to enhance personal effectiveness at work by inculcating values that displays ethos of BEL, habits of high performers and competencies to achieve a successful career | Non-Executives eligible for E-1 & TC promotions (Age <57 years) | 48 |
| 22 Personal Effectiveness | Non-Executives working as technicians, Engineering Assistants & Admin Assistants (Age < 45 years) | 47 | |
| 23 Personal Empowerment | Non-Executives with >= 10 years of service & Age < 55 years | 26 | |
| 24 Ignite your Creativity | Non-Executives with Age < 45 years | 53 | |
| 25 Team Elevation | 3 unique team transformation programs to facilitate smooth transition from solo working to team collaborations | Non-Executives working as Engineering. Assistants | 52 |
| 26 Team Effectiveness | (Age < 45 years) Non-Executives working as Technicians & Admin Assistants | ||
| 27 Team Enrichment | (Age < 45 years) Non-Executives eligible for E-1 & TC promotions | ||
| 28 Re-energize your Life | 3 Unique Wellness Programs to address holistic development of individuals | (Age <57 years) Male Non-Executives | 91 |
| 29 Replenish your Life | Female Non-Executives (Age <= 45 years) | ||
| 30 Rejuvenate your Life | Female Non-Executives (Age > 45 years) | ||
| 31 Reboot - Retirement Planning | To equip individuals with knowledge to lead a fulfilling life,post-superannuation | All Non-executives due for superannuation | 77 |
| 32 Effective Leadership-Workers Participation in Management | To impart knowledge on Organisation, Business Segments, Workers Rights & Responsibilities, promote team building & personality development | Non-Executive representatives of NTUs, Bi-partite Committees, Shop Councils | 102 |
| 33 Gender sensitisation & POSH | Statutory Programs to impart knowledge on POSH, Vigilance &Safety aspects at the workplace | All Non-Executives | 82 |
| 34 Vigilance Awareness | 168 | ||
| 35 General Safety | 84 | ||
| 36 Employment Law | To impart knowledge about the Organisation & the laws governing it | 54 | |
| 37 Know your Organisation | 55 | ||
| 38 Induction program for Security Personnel | To provide an overview of the organization, various systems and processes to acclimatize the new joiners to the companys work environment | Newly recruited Security Personnel | 22 |
Company Level Dashboard on Learning & Development
Summary of Training Statistics |
|||
| Particulars | 2022-23 | 2023-24 | 2024-25 |
| Training Mandays | 67,498 | 75,912 | 76,941 |
| Budget Spent ( in Crore) | 8.52 | 7.53 | 8.68 |
| Per Capita Mandays | 7.40 | 8.27 | 8.41 |
| Summary of programs conducted/launched in FY 2024-25 | |||
| Domain Area | Short Term Programs | Certification Programs | Post Graduate Programs |
| Leadership / Management Development Programs | 55 | 2 | 1 |
| Technology Enhancement Programs | 46 | 0 | 3 |
| Quality Enhancement Programs | 23 | 12 | 0 |
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