(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
Despite the global economic challenges, Indias GDP is projected to surpass 7.2% in FY 2023-24 as per "Indian Economy: A Review", after three consecutive years of contraction (2020-21 onwards). India is poised to become the third largest economy, in the next three years with a GDP of US$ 5 trillion.
The macroeconomic stability has given rise to the growth of the Indian economy as seen in robust foreign exchange reserves, growth in foreign direct investment (FDI), lower current account deficit and moderate inflation. 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 the Indian economy and also the turbulence in the global security environment have given a boost to the defence spending.
Defence
In the interim budget for FY 2024-25, the Government has allocated Rs6.21 Lakh Crore to MoD, an increase of 4.7% over the previous year. The capital allocation, which relates to modernisation and infrastructure development of the Armed Forces has been increased from Rs1,62,600 Crore in FY 2023-24 to Rs1,72,000 Crore in FY 2024-25, with an increase of 5.8% over the previous year.
The Governments plan to foster jointness among the services by consolidating the demand of three services to bring in flexibility and re-appropriate the funds among the services based on inter services priority and for faster decision making and better utilisation of capital budget.
Indian Coast Guard (ICG) has been allocated Rs3,500 Crore as Capital expenditure for the acquisition of fast-moving patrolling vehicles/interceptors, advanced electronic surveillance systems etc.
To financially strengthen DRDO in developing new technology, Rs13,208 Crore has been allocated for capital expenditure.
The Government has come out with a new initiative to expedite indigenisation in defence and to provide impetus to innovation by launching a new scheme to strengthen Deep-Tech for defence. The scheme has
Rs1,00,000 Crore corpus for Deep Tech for long-term loan to tech savvy youth/companies and tax advantage to start-ups.
Non-Defence
Apart from its core Defence business, BEL has into several non-Defence areas like Homeland Security, Smart City, Energy Storage Products, Solar, Space Electronics, Network & Cyber Security, Railways & Metro Solutions, Medical Electronics & Healthcare Solutions, Software Solutions, etc.
Homeland Security
The Homeland Security market in India is spread across Central / State Governments, government entities including PSUs and Private Sector Organisations. 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 terrorist activities & crime, data thefts, remote monitoring needs for centralised command & control, asset protection & disaster management, growth in public infrastructure, increased IT spending, and increase in security spending are boosting demand for the Homeland Security market in India.
In FY 2024-25, the Ministry of Home Affairs (MHA) has been allocated Rs2.03 Lakh Crore, with an increase of 1.4% over the revised estimate of Rs1.96 Lakh Crore for FY 2023-24. Of the Ministrys total budget, 65% of expenditure is on police, 31% on grants to UTs and 4% on other items such as disaster management, rehabilitation of refugees and migrants, and conducting the Census.
In the FY 2024-25 budget, Rs1.32 Lakh Crores has been allocated towards police in comparison to Rs1.27 Lakh Crore in FY 2023-24. Central Reserve Police Force (CRPF) which is primarily responsible for internal security has been allotted Rs32,810 Crore in 2024-25 in comparison to Rs31,772 Crore in the previous year. Central Industrial Security Force (CISF), which protects vital installations like Nuclear projects, airports and metro networks, has been given Rs13,655 Crore in 2023-24 in comparison to
Rs12,930 Crore in the previous year.
Smart City
The Smart Cities Mission (SCM) was launched in June 2015 as a Centrally Sponsored Scheme (CSS) with the objective of providing a decent quality of life to citizens in cities, through the application of ‘smart solutions, and improvement in the core infrastructure. The Mission was originally planned till March 2022 but has been extended till June 2024.
Smart Cities Mission (SCM) received reduced budget allocations in FY 2024-25 of Rs2,300 Crore compared to Rs7,600 Crore in FY 2023-24. Cumulatively, Rs42,055 Crore has been allocated for SCM till FY 2023-24, which accounts for 86% of anticipated GoI funds for the Mission. So far, out of the total projects, the completed projects are worth of Rs1,25,105 Crore.
Additionally, City Investments to Innovate, Integrate and Sustain (CITIIS), a new initiative under SCM has seen an increase in total allocation by almost 10 times between its initiation in FY 2018-19 and FY 2024-25.
The Strategic Business Unit which was formed exclusively to address the Homeland Security and Smart City business has made significant achievements in the Homeland Security and Smart City domain.
Energy Storage Products
Continually rising ozone-harming Green House Gas (GHG) discharges have forced nations and organisations to take focussed time-bound measures for adoption of clean and renewable energy.
As per market reports, the global battery energy storage system (BESS) market is projected to grow from US$_10.88 billion in 2022 to US$ 32.50 billion by 2030, exhibiting a CAGR of 16.3% during the forecast period.
Government of India (GoI) notified Phase-II of Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) with a budgetary support of Rs11,500 Crore for a 5 year period commencing from 1 April 2019. The Scheme has supported approximately 15 Lakh Electric Vehicles till end of March 2024. A total of 221 models of electric vehicles benefited under the FAME II scheme.
The Government has also approved the Production Linked Incentive (PLI) Scheme, ‘National Programme on Advanced Chemistry Cell (ACC) Battery Storage for achieving manufacturing capacity of 50 GWh of ACC for Enhancing Indias Manufacturing Capabilities with a budgetary outlay of Rs18,100 Crore. The scheme incentivises local value addition for the battery storage manufacturing ecosystem in India and also discourages import of components, through increased duties etc.
BEL is addressing the energy storage system requirement for strategic applications and EV segment among its focussed markets. BEL has acquired technology from DRDO for high capacity Lithium-ion cells for strategic applications and has set up an R&D facility. BEL is also exploring adoption of fuel cell-based technologies for commercial manufacturing in partnership with technology partners.
Solar – Renewable Energy
The Government has set an ambitious target of generating 280 GW of installed solar capacity by 2030. In the Budget for FY 2024-25, the government has allocated Rs8,644 Crore for the solar power sector including grid and off-grid projects. This is about a 75% increase compared to previous years of Rs4,941 Crore (revised) allocations.
BEL has scaled up its operations from Cell/Module manufacturing to execution of solar power plant projects under the Engineering Procurement Construction (EPC). BEL has created a new Micro SBU for a focussed approach to target the requirements of the Solar Business, which is likely to contribute to BELs business on a continuous basis in the near future. BEL is also exploring opportunities in export market. BEL has set-up a Solar Power plant using solar modules made up of bifacial solar cell tech as a trial basis within the BEL campus.
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 Rs13,043 Crore compared to
Rs12,544 Crore for the year 2023-24, which is an increase of 4%.
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, Satellite Communication Services and address Launch Vehicle segment jointly with Indian private industry. BEL has long term objective of becoming a prominent player in Space-based Assets and Payloads. BEL also expressed its interest for participating in productionisation of Satellites and Small Satellite Launch Vehicle (SSLV) with support from ISRO.
BEL has qualified as an industry partner of ISRO for Assembly, Integration and Testing (AIT) of satellites. It has completed Satellite AIT of three RISAT satellites at ISRO. BEL has collaborated with ISRO and has come out with new products like the next-generation Indigenous Receivers for Positioning and Navigation (IRNSS), Satcom Terminals, LTCC-based Substrates and high power space TWTs, which have a usage in Defence, Government services and paramilitary applications, in collaboration with ISRO. 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.
Network and Cyber Security
The cyber security market in India which is driven by investments by organisations to safeguard against cyber threats is expected to grow to about Rs29,116 Crore by 2027. The global Cyber Security market is expected to reach about US$ 366 billion by the year 2028.
The Network & Cyber Security (NW&CS) division has made key progress during the year 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.
The Network & Cyber Security division is also vigorously pursuing current technologies like Quantum Key Distribution, Block-chain, Digital Forensics, 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. Various Cyber Security certifications have been obtained by this group, including CEH, GSEC, Lead Auditor for ISO 27001, CISSP, CSQE, CHFI, CCNA etc. certification to qualify in domestic and global tenders. A dedicated software Network and Cyber Security Strategic Business Unit (SBU) has been to address these opportunities.
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 on the promotion of Digital India and adoption of emerging technologies, including 5G, AI, ML and Drones.
The total capital expenditure by Railways for 2024-25 is projected at 2,55,000 Crore, an increase of 5.8% over the estimates of 2023-24. Indian Railways is planning to redevelop 508 stations spread across 16 states and Union Territories. This ambitious project is estimated to cost Rs24,470 Crore. The other plans for railways include the indigenous production of 400 energy efficient Vande Bharat trains in collaboration with technology partners. For Metro total budget for the financial year 2024-25 is
Rs21,335 Crore.
The modernisation and new projects like National Common Mobility Card (NCMC) compliant Automatic Fare Collection (AFC) Gating system for Metros, Indian Computer-based Train Control/Intelligent Automatic Train Supervision (i-ATS), Rolling Stock Driver Training Simulator, Real Time Information System (RTIS) for Indian Railways, Supervisory Control And Data Acquisition (SCADA), CCTV Radios, Video Surveillance Systems, FOG Vision, LTE-based Mission Critical Communication
Networks for the Railways, Unmanned Railway Crossing System, Composite Panels for Rail and Metros, Platform Screen Doors etc. are some of the key areas being pursued by BEL.
BEL is collaborating with DMRC, RDSO, NCRTC and various public/private organisations in the area of i-ATS System, i-CBTC, DMI, Super-SCADA, Rolling Stock Driver Training Simulator, Kavach for Indian Railways, TCMS, Platform Screen Doors, etc. BEL has developed Platform Screen Door (PSD) for public safety and is being installed in MP Metro stations.
Civil Aviation As per reports, the global domestic aviation market was valued at US$ 966.01 Billion in 2022 and is expected to reach US$ 1,204.31 Billion by 2029 at a CAGR of 3.2% during the forecast period. The aircraft passenger traffic in India is estimated to reach 300 million annually by 2030 from 153 million in 2023, and number of airports will increase to over 200 over the next five-six years from existing 149 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 last decade. India is the third largest domestic civil aviation market in the world and the seventh largest international civil aviation market in the world. In the last 15 years, domestic and international cargo witnessed a growth of 60% and 53% respectively. The allocation for the civil aviation ministry stood at Rs3,113 Crore. Additionally, there were efforts to encourage the manufacturing of aircraft components within the country. This move aimed to boost the domestic aviation industry, creating job opportunities and reducing dependencies on imports. The government has continuously focussed on infrastructural development therefore, the industry was anticipating allocation of funds for the development of new airports and the enhancement of existing ones in order to improve facilities. The AAI has earmarked a sum of Rs25,000 Crore for a period of five years, for modernising 100 airports across the country.
To enable Atmanirbhar Bharat and Make-In-India initiative, BEL is collaborating with M/s Airports Authority of India for modernisation of Airports, providing solutions for Air traffic management, other ground & navigation solutions, etc.
Towards this, BEL in association with AAI, has developed indigenous Automated Air Traffic Management System (ATMS) and Advanced Surface Movement & Guidance Control System (ASMGCS) solutions which have been deployed at Bhubaneswar Airport and are under exploitation and validation.
BEL is also exploring partnerships with global OEMs in Civil aviation segment for indigenisation of systems and solutions required for modernisation of Airports and ground infrastructures.
Software
Software is becoming a crucial piece of weaponry in the modern Defence system. Advanced software systems and embedded software technologies play a vital role in modern warfare and transforming every aspect of the product offerings.
India is one of the leading software development centres in the world and the Indian IT industry is growing at a CAGR of 10.71%. As per reports, the Indian IT industry, comprising software products, IT services, engineering and R&D services, ITeS/BPO, hardware and e-commerce is expected to grow to US$ 350 Billion by 2025.
The Software SBU of BEL is handling multi-disciplinary projects/programmes which require cutting-edge technologies. The SBU is catering to the in-house software requirements and is also exploring & addressing opportunities in both domestic and export markets.
Apart from core Defence segments, opportunities with respect to Homeland Security, e-Governance projects, Smart Cities, digital transformation projects, healthcare, software simulators, software assurance services, ERP Implementation and Digital Agriculture are also being focussed. BEL is planning to setup a Software Development Centre at different locations across India to cater for the software services and support activities.
Medical Electronics & Healthcare Solutions
The medical electronics market globally is expected to reach over US$ 795.00 Billion by 2032. Indian medical electronics market is expected to grow to US$ 50.00 Billion by 2026 at 17% CAGR.
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 & healthcare segment. One of the objectives of your Company is to enter into this market segment 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 a ToT. Your Company is also planning to come out with its own 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, portable remote patient health monitoring systems, patient monitoring systems for ICUs, Ultrasound, turbine-based ventilators, MRI, etc.
Focussed approach for new areas in Defence
T o give a focussed approach to upcoming areas Defence & Aerospace sector, BEL has ventured into Unmanned Systems, RF and IR Seekers, Missiles, Rockets, Glide Bombs, Arms & Ammunitions.
Unmanned Systems
As per the reports, the UAV Market is projected to grow from US$ 17.31 Billion in 2024 to US$ 32.95 Billion by 2029, at a CAGR of 13.74% during the forecast period. Unmanned aerial vehicles (UAVs) are remotely piloted, optionally piloted, or fully autonomous aerial vehicles that play a significant role in the defence and commercial sectors.
The Unmanned Underwater Vehicles (UUV) market is estimated to be US$ 4.8 Billion in 2024 and is projected to reach US$ 11.1 Billion by 2030, at a CAGR of 15% during the forecast period. The Unmanned ground vehicles (UGV) market is estimated to be US$ 2.7 Billion in 2022 and is projected to reach US$ 5.26 Billion by 2030, at a CAGR of 8% during the forecast period. The Unmanned surface vehicles (USV) market size was valued at US$ 2.16 Billion in 2023 and is projected to grow from US$ 2.27 Billion in 2024 to US$ 3.29 Billion by 2032, at a CAGR of 4.7% during the forecast period.
The Indian Unmanned Systems segment offers good opportunity for the Indian Industry including BEL. 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.
To address the Unmanned Systems Business Opportunities in a focussed manner with dedicated resources, a separate Strategic Business Unit (SBU) has been created at BEL Bangalore. The SBU is building its capabilities through in-house development as well as through partnerships to address the Unmanned Systems Business opportunities.
RF and IR Seekers
T he global missile seekers market size is projected to grow from US$ 5.3 Billion in 2021 to US$ 6.8 Billion by 2026, at a CAGR of 5.2% during the forecast period of 2021 to 2026.
in The key drivers for the global growth of this segment continue to be increased by geo-political instabilities, the change in nature of the warfare strategies, continuous advancements in missile seeker technologies with increased R&D, depletion of stocks of legacy missile systems thereby necessitating the need for replenishment, increasing defence budgets of emerging economies and countries in need for securing their nation, etc.
The domestic demand for this segment emanates from the Government of Indias Make in India policy and issuance of series of Positive Indigenisation Lists, wherein all strategic missile systems are included for domestic manufacturing in a phased manner.
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.
Domestic defence industry will have a major role and opportunity for absorption of technology and investments to be made for productionisation of these systems in the years to come. BEL is associated with DRDO during various phases of development for technology absorption, engineering and productionisation of RF and IIR seekers.
In order to address this critical segment in a focussed manner, a dedicated Strategic Business Unit (SBU) for RF & IR Seekers has been created at BEL Bangalore to address RF & IR Seekers. BEL continues to invest in the infrastructure for creation of required Manufacturing,
Assembly and Test facilities for these critical technology systems to enable mass manufacture of the Seekers to meet the required demand.
Arms & Ammunition
Ar ms & Ammunition including Smart Weapons critical for the strategic needs of the country for which self-reliance has to be ensured. For long, 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., are offering huge opportunities to domestic defence manufacturers including BEL.
As per the reports, the global Arms and Ammunition (including Small arms, Smart weapons) market, is projected to reach US$ 39.09 Billion by 2032.
In order to address the opportunities available and to effectively compete in this segment of business, a dedicated Strategic Business Unit (SBU) has been formed at BEL Bangalore.
BEL is engaged in development and also partnering with DRDO, Technology partners, Academia, R&D institutes, Start-ups etc. for development of Missiles Seekers, Glide Bombs, Rockets, Ammunitions, Electronic Fuzes and its related parts. BEL has made substantial investment for creating facilities for Processing/Hot integration and several storage magazines with all necessary regulatory licences and approvals.
(b) Industry Structure and Developments
At pr esent, India is one of the largest importers Defence equipment with majority of its Defence needs being met through imports, though Indias arms import have decreased in the recent years, as per the reports. The Government of India aims to develop a strong self-reliant domestic industry in the Defence sector with substantial participation from the private sector, including MSMEs and start-ups to reverse the trend of imports.
In this regard, the Government has taken several initiatives like the Make-In-India programme, creation of an eco-system for development of technologies through innovation by MSMEs/start-ups, etc. With the support of the Government, the Indian industry is expected to move up in the value chain and deliver quality products, systems and services to the Defence forces. The Government has promulgated a draft Defence production policy that aims at increasing Defence production to Rs1,70,000 Crore by 2025.
The MoD has introduced the Strategic Partnership model (SP) for the Indian private sector, as part of the DPP 2016. The model aims to progressively build indigenous capabilities in the private sector to design, develop and manufacture complex weapon systems and platforms.
The Defence Acquisition Procedure 2020 (DAP 2020) has incorporated several improvements focussing on self-reliance, wherein indigenisation and innovation is enabled through processes of make, design & development and strategic partnership. Import substitution has been facilitated through various schemes with an aim to reducing lifecycle costs and building a robust ecosystem with the help of the domestic industry/MSMEs. Amendments to DAP-2020 are underway, in order to further simplify the Make-I and Make-II procurement process, inclusion of Space activities, etc.
To promote indigenous Defence manufacturing, the Government has undertaken initiatives like liberalisation of Industrial Licensing, development of Defence Corridors, funding for Innovation in Defence and Aerospace through iDEX/DIO, continuous updation of DPP, thrust on exports, etc. Suo moto proposals can also be submitted under Make-II category.
Foreign Direct Investment (FDI) up to 74% is allowed through the automatic route and above 74% under ofthe Government route, wherever it needs to access modern technology.
The DRDO developed technologies are now made available on a non-exclusive basis to the Indian industry, including the private sector against the payment of ToT and royalty fees. Also, the DRDO has come out with a revised Policy and Procedures for Transfer of Technology to Industry.
Two Defence industrial corridors in Uttar Pradesh and Tamil Nadu are being established by the Government. The Uttar Pradesh Defence Industrial Corridor (UPDIC) will have six nodes at Agra, Aligarh, Chitrakoot, Jhansi, Kanpur and Lucknow. The Tamil Nadu Defence Industrial Corridors (TNDIC) will have five nodes at Chennai, Coimbatore, Hosur, Salem and Tiruchirappalli.
The procedure of ‘Make-I and ‘Make-II programme has been introduced and being simplified further, by the Government which is likely to help MSME and start-up companies to integrate into Defence production. BEL is also participating in many of the Make II programmes of the Defence services. Reforms in Offset policy with thrust on attracting investment and transfer of technology for defence manufacturing by assigning higher multipliers.
Toward MoDs big push to Atmanirbhar Bharat initiative, MoD has put Import embargo on 400 plus items of Services through four ‘Positive Indigenisation List and three ‘Positive Indigenisation List of total 3,738 items of DPSUs with timelines to boost indigenisation of defence production. BELs Products/Systems can meet about 30% of these positive lists of Defence Indigenisation.
Under these changing business scenarios, BEL is focussing on enhancing its interaction levels and building long-term relationships with emerging Strategic Partners, users and other key stakeholders in the Indian Defence industry.
(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, Night Vision Devices, Multi-sensor Stabilisation Systems, Arms and Ammunitions, Transportation Solutions for Railways and Metro, Composite Products for Land, Marine & Avionics Segments, Artificial Intelligence & Robotics, Space Electronics & Launch Vehicles, Solar, Medical Equipment and related solutions, Energy Storage Products etc.
Many strategic alliances have been formed and other select partnerships are being pursued with Defence laboratories, DPSUs including the newly formed DPSUs, Academia, Start-ups, niche technology companies and reputed global OEMs and Indian companies/agencies for addressing the emerging Defence and Non-Defence businesses, including 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 Seeker, 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, Navigation Receivers, Explosives, Ammunitions, Inertial Navigation
Systems, High Power Lasers, Tethered Unmanned Aerial Vehicles and Swarm UAVs, Remotely Operated Vehicle (RoV), Counter Measure Systems, Electronics Systems for Futuristic AFV Platforms FICV etc, Satcom Terminals, Navigation Receivers, Composite Products, Rail & Metro Solutions, Li-ion Cells, Medical Equipment and related 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 in complementary technology/ strength areas to bridge technology gaps and also to scale up the existing areas as well as enter into new and emerging business areas.
The Joint Venture BEL-THALES Systems Limited (BTSL) was formed between BEL and Thales, France with an objective of engaging in design, development, marketing, supply and support of civilian and select Defence radars for the Indian and global markets. Benefiting 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 and as a trusted supplier.
BTSL has successfully manufactured and delivered Low Band receiver modules for Electronic warfare suite solutions for Fighter Aircraft. BTSL has successfully customised and demonstrated the capability of Passive Radar to Indian Customers like IAF, CABSEC etc. BTSL is also working on Built to Print Projects for medium to long range Tracking and Illumination Radar Systems with Thales. BTSL is also carrying out Radar Service Management of Air Surveillance Radar (ASR) and Mono-Pulse Secondary Surveillance Radar (MSSR) for various existing and new customers. BTSL has set up a well-equipped Integration facility for high-end avionics systems, which has been further expanded for the manufacturing activity covering Quality Inspection, Testing, Assembly, Functional tests, Thermal Cycling, Vibration tests etc.
BEL is in the advanced stage with an Israel OEM IAI for setting up a Joint Venture Company to provide Product
Life cycle support for Weapon System Programs in India for which the Israel OEM is the main designer.
T echnology Upgradation and R&D Challenges
Cor e technologies required for developing state-of-the 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 into a single source for technologies/solutions is a major challenge.
The demands of reducing size, Weight and Power (SWaP) along with higher 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
T o 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, Microwave, Power Amplifiers, Antenna, 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, NMS, DSS, Multi Sensor Tracking and Data Fusion, GIS Technologies, Simulation, War Gaming, Tactical Algorithms, Cognitive Computing, Sensor-System Integration, Web Technologies, Software Engineering etc.
A centralised 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 technology core areas of
PDIC are Automation Solutions, Antennas, Crypto Solutions, Embedded Systems, Energy Systems, Engineering Solutions, RF and Microwave, MMICs, SoCs, Sonar Systems, Super Components, Navigation and Stabilisation, etc.
The Development and Engineering (D&E) divisions, operating at all Strategic Business Units (SBUs) and Units, liaison with end customers to understand 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.
The D&E of Software SBU, at Bengaluru, addresses all requirements related to software modules either directly to the customers or through respective D&Es of SBUs/Units. A Software Development Centre has also been opened at Vizag. The Software SBU is supported ably by the CRL scientists at Bengaluru & Ghaziabad. In BEL, the challenges are further being addressed through planned R&D initiatives, systems engineering, technology training for R&D Manpower, system-driven obsolescence management and by leveraging expertise through suitable collaborative R&D partners.
To overcome the challenge of lock-in to proprietary technologies, in feasible areas, the Company develops technology modules/solutions based on standard protocols and with modular designs which can be evaluated using standard test and measuring instruments. Even when a given Technology Module/Product/Solution is 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 situation 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 created 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 miniaturised platforms/products/solutions by optimising 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 indigenisation.
R&D Initiatives and Achievements
BEL has been vigorously pursuing IPR related activities year after year. Concerted efforts put in have resulted in the grant of 262 IPRs including 161 patents during FY2023-24. Some of the granted patents are:
1. High Power Amplifier Module (PAM).
2. A Method of Geometry/Shape Correction of X-Ray Baggage Scan Images.
3. A Method and System for Target Detection in Digital Images using Salient Regions.
4. An Ultra-wide Dynamic Range Digital Receiver.
5. System and Method for Processing a Digital Signal.
6 . System and Method for Reducing Signal Processing
Latencies in Serial IFFT/FFT Based OFDM Systems.
7 . High Power Bipolar Driver for GaN Device Application.
8. Systems and Methods for Reducing Latency in OFDM Receiver.
9. RF Driver Unit for Q Switch.
10. Narrow Band Pass Wide Stop Band Harmonic Rejection Suspended Substrate Stripline Filter.
11. Novel Method of Implementation of High Power, High Speed, Compact Switched Low Pass Filter Bank.
1 2. Multi-channel Receive Beam former with integrated Mono-pulse Architecture.
13. A Compact Multioctave Power VHF/UHF Amplifier.
1 4. A Method and System for Dynamic Range Improvement in Detector Log Video Amplifier.
15. Automated RF Switch Apparatus for Testing Radio
Frequency Power Distribution Networks.
1 6. System and Method for Determining Optimum Locations for Deploying Repeater Nodes.
1 7. Compact Configurable High Power Accurate Voltage Variable Attenuator.
18. Method for Auto Configurable Display System Based on Ethernet Network Data.
1 9. Three Field of View (FoV) discrete zoom lens for Thermal Imagers.
2 0. Large zoom ratio(43X) Continuous zoom lens in MWIR spectral region.
A s on 31 March 2024, the cumulative IPRs registered to BEL are 621 (Patents: 201, Copyrights: 395, Industrial Designs: 17, SICLD: 6, TM: 2). In FY 2023-24, a total of 146 new IPR applications were filed (Patents: 82, Copyrights: 55, Industrial Designs: 6, SICLD: 1, TM: 2). R&D/D&E scientists/engineers have presented and published 97 papers in reputed Conferences/Seminars/ Journals in 2023-24.
BEL has empanelled 12 new Collaborative R&D partners in the year FY 2023-24. As on 31 March 2024, the cumulative Collaborative R&D partners empanelled are 321 (including 163 MSMEs). The partners are categorised under R&D solution providers: 40, design service providers: 207, consultants: 42 and production service providers: 42, of which 10 partners are empanelled under two categories.
BEL organised IETE International Conference India (IICI-23) on AI&ML driving 5G Advanced & 6G during 03-05 May 2023 and NavIC (Navigation with Indian Constellation) Conference during 22-23 January 2024.
Some of the new initiatives undertaken by BEL in collaboration with academia are Face Detection and Recognition Solution (IIT Kanpur); RF Channelizer Algorithm Implementation (DIAT Pune); Mathematical Modeling and Simulation of AUV (IIT Pallakad):
• New initiatives taken include an online system of applying for and processing R&D Excellence awards.
• BEL received the 10th Governance Now PSU Award for R&D.
Specific areas 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 2023-24:
Spec ific areas in which R&D was carried on and derived as a result of the activities
During FY 2023-24, 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 2023-24: a) Sight and Gimbal for BMP Upgrade. b) Indigenous ASR-MSSR for AAI. c) Voice Communication & Control System (IACCS B-III). d) Compact Gun Fire Control System. e) USHUS-2 (Integrated Submarine SONAR suite for EKM platform). f) Development of CMS17A. g) Upgrade of Turret Sys & Dev of Sight System. h) Revathi Stabilization Platform. i) IFF MK-XIIA Combined Interrogator Transponder. j) ADC&RS. k) Multi-Target Tracking Radar.
• R&D projects which have fetched considerable revenues for the Company (both Defence and Non-Defence segments) during FY 2023-24 include: a) IFDSS for T-72 b) CSS ICG Phase 2 c) VCCS & IACCS Batch-III d) D4 System (X-Band Radar) e) GBVU COM JAM with DF f) D4 system for Airforce g) ACCS-P17A h) RPA/AAAU i) ACCS-ASW SCW j) ADC&RS k) LYNX U2-P28 l) RAWL-02 MK IIA m) CBRN HAZMAT Vehicle
• Some of the major Technology Modules and Subsystems developed indigenously during the year 2023-24, which have resulted in import substitution, are: a) Technology Modules and Subsystems ADC&RS b) HF Man-pack SDR for ARMY c) Wide Band GaAs MMICs d) AIFDSS e) CBTC Radios for DMRC f) IFF-Ant-Sys-HPR g) RDNSS o f Ku BAND RFS h) CMS17A i) X BAND DWR(SSPA-based)
• R&D projects undertaken by BEL during the year 2023-24 which have resulted in exports are: a) Network Radio HH for Bangladesh Army b) Stabilized Platform for REVATHI (Export) c) 16 CH RJ with 116 Way SR for REVATHI d) Smart Mailbox e) Main Processor Unit - VPX Based f) Compact Time Server Unit g) Managed Ethernet Switch-12 Port h) RF MODEM-2 Channel i) Blanking Interface Unit j) HF Radio k) CRS ASEAN
(e) Diversification/Expansion Plans:
As a diversification strategy, the Company has exploring opportunities in allied defence and non-defence areas for growth, leveraging its strengths & capabilities acquired in the defence electronics domain and capitalising on the conducive policy environment encouraging indigenous solutions. In the past 5 years, the non-defence portion, on an average in the Companys business is about 15-20% of total turnover. This year, the Company has about 15.44% 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 30% of the 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 focussed upon in defence include: Next Generation Indigenous Missile Systems, RF Seekers, Imaging Infra-Red (IIR) Seekers, Arms & Ammunition and Explosives, 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 Inertial Navigation Systems (INS) and Solutions, Directed Energy Weapons, Countermeasure Systems for Air Platforms, Avionics Systems for Next-Gen Aircraft/ Helicopters, Software as a Service, Network & Cyber Security etc.
Some of the areas being focussed in the non-defence include: Solutions for Civil Aviation sector including Air Traffic Management Solutions, Advance Ground Control Surface Movement Radar, Anti Drone Systems, Space/Satellite Electronics, Space Launch Vehicles, Satellite Communication Services, Satellite Assembly & Integration, Solar Business, Railway and Metro Solutions, Software as a Service, Homeland Security & Smart City Businesses, Smart Meters, Platform Screen Door (PSD) for Metro Stations, a range of Medical Electronics and Health Care Solutions etc.
BEL has successfully diversified into Electronic Ammunition Fuzes, Missile Seekers, Homeland Security & Smart Cities, Network & Cyber Security, Rail & Metro solutions, Energy Storage Products, Solar Power Plants, Medical Electronics, Solar Cells & Modules, Cyber Security, Digital Transformation solutions, Satellite Assembly & Integration, etc.
BEL also continuously strives to expand its business by been 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, X-ray Baggage Inspection Machines, etc.) to expand its business by capturing new customer segments. BEL is striving to exploit its dual- use technologies (e.g. SDR, Solar Products, Satcom 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 its new International Marketing offices to expand the reach of its products & services to new markets and also explore offset opportunities. BEL is also forging partnerships with other PSUs/industry players to quickly expanding the geo-spatial reach through resource sharing.
(f) Specific Measures 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. The deployment of ERM is based on the Risk Management (RM) Policy of the Company, approved by the Board, based on 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.
The changes in the recent past include introduction of ESG Risk in the identified areas of Risks, increase in the frequency of mandatory risk reporting to the Board and creation of additional Unit Risk Management Committee/s(URMCs) due to expansion of business/ creation of new business units.
The Risk Management Policy outlines the Risk Management Structure, Scope and Objectives, identified 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 Risk Management Committee of the Board (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, Prioritisation 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 which need the expert advice and direction of the RMC are identified by the Corporate Risk Management Committee (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 policies and or business process improvements which emphasise decision making incorporating Risk mitigation measures. The recent process improvements in this regard include mandatory risk reporting in high value R&D projects, investment proposals and price proposals for submission of bids.
The implementation of mitigation measures are further reviewed by the RMC for compliance and the implementation status 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 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 77% of the Companys turnover is generated from indigenous technology. In line with the 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, 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 according priority to procurement of capital items from domestic sources under Defence Acquisition Procedure and notification of ‘Positive Indigenisation Lists for both Services and DPSUs for which there would be an embargo on the import beyond the timeline indicated against them.
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 boost to the defence manufacturing ecosystem in both States.
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.
(B) Inter nal Control System and its Adequacy:
BEL has a robust system of internal controls in place. It 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 unauthorised 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 the 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 Payroll. Risk analysis reports are regularly run 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 2023-24. 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).
The 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:
( Rsin Lakhs)
| Particulars | 31 March 2024 |
31 March 2023 |
| Revenue from Operations | 20,16,939 | 17,64,620 |
| Earnings before Interest, | 4,99,817 | 4,04,752 |
| Tax, Depreciation and | ||
| Amortisation(EBITDA) | ||
| EBITDA Margin (EBITDA/ | 24.78% | 22.94% |
| Revenue from operations [Net]) | ||
| Profit After Tax 4,02,000 | 3,00,667 | |
| No. of Days Inventory/Value of Production | 133 | 132 |
| No. of Days Trade Receivables/ Turnover | 136 | 148 |
| Current Ratio | 1.54 | 1.46 |
| Debt Equity Ratio | - | - |
3. Analysis of Financial Performance of FY 2023-24:
• T urnover registered a growth of 14.35% from
Rs17,33,337 Lakhs in 2022-23 to Rs19,81,993 Lakhs in 2023-24.
• Value of Production has increased from Rs17,73,082 Lakhs in 2022-23 to Rs20,38,050 Lakhs in 2023-24. Increase of 14.94%
• 33.70% increase in Profit After Tax, from Rs3,00,667 Lakhs in 2022-23 to Rs4,02,000 Lakhs in 2023-24.
• Increase of PAT to Turnover Ratio from 17.35% in 2022-23 to 20.28% in 2023-24.
• T urnover per Employee has increased from Rs196.26 Lakhs in 2022-23 to Rs221.77 Lakhs in 2023-24.
• Earnings Per Share has increased from Rs4.11 in 2022-23 to Rs5.50 in 2023-24.
• Book Value Per Share has increased from Rs18.58 in 2022-23 to Rs22.00 in 2023-24.
• Net Worth has increased from Rs13,58,199 Lakhs in 2022-23 to Rs16,08,239 Lakhs in 2023-24.
• Return on Net Worth has increased from 22.14% in 2022-23 to 25.00% in 2023-24. The main reason for the increase is due to an increase in Value of production by 14.94%.
(D) Development in Human Resources:
BEL has been focussing on the sustained development of its employees, both at the individual and at the team level through various Human Resources Development initiatives. The focus has been on the Development and Enhancement of Functional, Behavioural and Leadership Competencies in Executives across all domains and grades. In line with this, various Technology specific programmes, Management Development Programmes, Quality related Certification Programmes were organised both Internally through Subject Matter Experts and Externally through Premier Training Institutions.
Some of the Learning and Development initiatives rolled out during the year are enumerated below:
| Name of the Program | Brief of the Program | Target Audience | Coverage |
| 1 Probationary Engineers Induction Program - Batch 1 & 2 | The 27 days induction program enables newly joined executives to understand business operations along with Plant & Customer visit to ensure smooth integration into the new work environment. | E-II grade Executives | 253 PEs attended the program |
| 2 High impact trainer program (train the trainer) (HIT) | To develop participants to acquire knowledge on training design, to develop training content for programs, to enhance presentation and facilitation skills etc. | E-III - E-IV grade Executives | 26 Executives attended the program |
| 3 Program on Interpersonal Effectiveness (PIE) | PIE was conducted for Promotee Executives in E-I grade to appreciate the importance of interpersonal effectiveness for professional growth & business excellence. | E-I grade Executives | 20 Executives attended the program |
| 4 Competency Enhancement Program (COMET) | To give our executives an immersion into BEL Behavioural competencies drive for excellence, passion for achievement & active learning | E-I to E-III grade Executives | 162 Executives attended the program |
| 5 Competency Development program (CODE) | To understand, recognise and develop the leadership competencies. The program also aims to impart the knowledge of developing a strategic perspective and managing stakeholders effectively for organisational excellence. | E-IV E-V grade Executives | 160 Executives attended the program |
| 6 Creativity & Innovation Program (CIP)/SPARK | To enable the executives to understand the concepts of creativity, Lateral thinking, innovation and to have knowledge of relevant metrics in innovation and their practical application at the workplace. | E-II E-III grade Executives | 30 Executives attended the program |
| 7 Finance for Non-Finance (FINLEARN) | To develop participants to understand concepts of finance, analysis of financial statements, learn capital budgeting etc. | E-III & E-V grade Executives | 55 Executives attended the program |
| 8 Analytical Thinking for Excellent Performance (ANTEP) | The outcome expected from the program is to help Executives understand Analytical Thinking, its relevance in decision making and developing an Analytical mindset. | E-IV & above grade Executives | 37 Executives attended the program |
| 9 Awareness Program on Defence Export Policy (SNAPSHOT) | To impart knowledge of Defence export policy which is an important competency for executives working in marketing and D&E departments | E-II to E-V grade Executives in Mktg. & D&E | 100 Executives attended the program |
| 10 Achieving success Thro structured Education. GEN-Y (ARISE) | The outcome expected from the program is that the participants should acquire fundamental knowledge in general management subjects like finance, Marketing, HR, supply Chain management etc. | E-II E-III grade Executives | 68 Executives attended the program |
| 11 Business writing skills (C3) | To develop the skills of drafting of effective official communication, articulating, concisely and precising of business documents, amongst the executives. | E-IV E-V grade Executives | 104 executives are attending the program |
| Name of the Program | Brief of the Program | Target Audience | Coverage |
| 12 Conflict Management Theatre-Based Learning (RESOLVE) | To help participants understand that assumptions & communication styles can cause conflicts& to understand different ways conflicts can be resolved. | E-II E-III grade Executives | 28 executives attended the program |
| 13 Leadership Acceleration Program -II (LEAP) | To enhance their leadership skills for understanding & nurturing high performance culture, conflict management, team coaching etc. | E-IV grade Executives | 64 executives attended the program |
| 14 Deputy Managers Executives Education Program -I (DEEP) | To familiarise E-IV & E-V grade executives to develop a deeper insight into management functions like strategy, finance, marketing, HR, etc. and provide an integrated perspective for executives development. | E-IV - E-V grade Executives | 45 executives attended the program |
| 15 Inform, Inspire and Influence (I3) | The outcome expected from the program is to design & deliver effective presentations, structure presentations, assess status quo for Executives in E-IV & E-V Level executives. | E-IV & E-V grade Executives | 19 executives attended the program |
| 16 Nurturing creativity and innovation (TORCH) | The outcome expected from the program is to understand, collaborate and strengthen the system for building organisation capabilities for creativity & innovation for senior executives. | E-VI & E-VI for senior executives | 39 executives attended the program |
| 17 Facilitating creativity and innovation (IGNITE) | Outcome of this program is to facilitate creativity through Design-thinking approach and have a Systematic approach to managing innovation in the workplace. | E-IV E-V grade Executives | 16 executives attended the program |
| 18 Mastering the art of feedback (COMPASS-I) | To develop participants to understand the process of feedback, relevance & impact of feedback on individual and organisation goals & its importance for employee development for Mid-level Executives | E- IV E-V grade Executives | 72 executives attended the program |
| 19 Mastering the art of feedback and feed forward (COMPASS-II) | To recognise the importance & relevance of feedback process for individual and organisational and also to understand its impact on employee engagement for Senior Executives | E-VI E-VII grade Executives | 81 executives attended the program |
| 20 Dynamics of effective presentation skills (DEPS) Leader COMMUNISCAPE | To develop a deeper insight into the nuances of making impactful and effective presentations to stakeholders with a special focus on social media handling and understanding global trends in presentation skills. | E- VI E-VII grade Executives | 45 executives attended the program |
| 21 Re-orientation program to promote executives (ROPE) | Develop participants to be aware of behavioural imperatives required in the changed role, knowledge of basic management concepts and principles and to create awareness of functional areas and related issues. | E-I grade Executives | 33 executives attended the program. |
| 22 Advanced Competency Program (ACP) | The program also aims for behavioural competency model, seizing opportunities, building & leveraging partnerships, winning with change, development partner relationship etc. | E-VI E-VII grade Executives | 30 executives attended the program |
| 23 Corporate Grooming (GROOM) | The outcome expected from the program is to be aware of the aspects of a well-groomed professional & incorporate the same in the workshop. | E-I & E-III grade Executives | 21 executives attended the program |
| 24 Certificate program in Marketing Management (CMAM) | To explore in-depth the fundamentals of marketing, marketing techniques, practices & strategies, to enhance understanding of evolving marketing challenges for BEL and understand leading-edge thinking on a global perspective for business growth. | E-IV E-V grade Executives | 29 executives attended the program |
| 25 Post Graduate Certificate in Management Batch 2 | The program is a one-year online program intended to give the executive a holistic understanding of business management & its functions and strengthen strategic thinking and leadership skills | E-IV & above grade Executives by selection | 25 executives attended the program |
| 26 Communication | It is intended to equip our executives with the skills needed to craft effective communication with both internal & stakeholders which in turn inspires high performance & enhances the Organisation culture. | E-II E-III grade Executives | 28 executives attended the program |
| Sl. No. | Name of the Program | Brief of the Program | Target Audience | Coverage |
| 27 | Quality Management Tools | To provide a brief overview and hands-on practice of quality | E-II grade | 131 PEs |
| control tools (7 basic QC tools) | Executives | attended the | ||
| To provide an in-depth understanding and hands-on | program | |||
| practice of seven new management and planning tools and | ||||
| other improvement tools | ||||
| 28 | Orientation for Accounts OfficerTo orient the recently joined Accounts Officer (having 2-3 |
E- II grade | 50 Executives | |
| years of experience) towards BELs Culture and Business | Executives | attended the | ||
| Insights | program | |||
During FY 2023-24, various Technology programs were conducted to enhance Domain knowledge and Competencies of our engineers in various technology areas. Executives were also nominated for External Technology programs conducted by Premier Institutes. Some of the programs conducted at BAE/Nominated by BAE are:
| Name of the Program | Brief of the Program | Target Audience | Coverage |
| 1) 30 Unique technology programs from various technology domains | The technology topics covered include, Design Patterns, RTOS, RF Filters, VHDL on FPGAs, MATLAB for CV & Image Processing, Experimenting with IoT for Industrial Automation, Introduction to Arms & Ammunition & Manufacturing Challenges, Advanced Structural & Thermal Analysis Using ANSYS, Advanced MATLAB for Radar, SP & Communications Applications, Introduction to E-Mobility and its Applications, GNSS Receiver on FPGA, Solid Works, EMI/EMC, Medical Electronic Applications, RF Synthesizer Design Consideration for Strategic Applications, Sensor Fusion for Strategic System & its Challenges, Advanced Optical Fiber Technology with ROS, Phased Array Radar System Design and its Challenges, Microwave Filter Design Concepts & its Applications, Design Methodologies of DEW Systems & its Applications, RF PA Design for High Linearity and Bandwidth Applications, Emerging Trends In Radar Technologies, Advanced Wireless Network Technologies and their applications, Design & Development of UAVs, Quad-copters & their Challenges, Advanced EMP Protection for C4I Mission Critical Systems, Embedded Systems Design for ARM Processor with DSP, Design of BLDC motor controllers & its applications, Building Blocks of SDR & its applications, Emerging Defense Technologies & its application, Modern Digital Communication System-Design, Analysis & its Applications | E-II E-VIA grade Executives | 677 Executives attended the programs |
| 2)19 Certification Programs | 5G Core Networks & Wi-Fi Technologies, Embedded System Design, Remote Pilot Certificate (RPC) Course/Certified grade Data Analytics, Advanced Concepts of AI & ML, Cryptography and Network Security, Introduction and Principles of Modern Radar System, Modern Radar Techniques and Photonics Based Radar, Power Business Intelligence, Intellectual Property Rights, Antenna Array Concepts & Beam Forming Techniques, Airframe Engineering and Analysis using CATIA, NASTRAN Technology, Energy Storage Cells & Fuels, Signal Processing Techniques, Electronic Packaging Cryptanalysis, Advanced Composite Materials, Cloud Architect, Jamming & Anti Jamming. | E-II E-V Executives Executives | 376 Drone Pilot, Hadoop attended the programs |
| 3) M.Tech (Communication & Signal Processing) - IIT Madras | Covers advance topics in DSP, Modulation and Coding, Wave propagation, Antenna, Wave guides, Microwave circuits and RADAR systems. | E-III E-VI grade Executives | 2 Executives completed the program |
| 4) IITM - M.Tech (Microelectronics) - IIT Madras | Specialisation in Microelectronics with emphasis on design, simulation, modelling, fabrication and testing of microelectronic devices and systems. | E-III E-VI grade Executives | 9 Executives are attending the program |
| 5) M.Tech (Communication & Signal Processing with Networks Specialisation) - IIT Madras | Covers advance topics in the areas of communications & signal processing, with a focus on networks that includes wireless LAN, cellular communication networks. | E-III E-VI grade Executives | 13 Executives are attending the program |
| 6) M.Tech (Mechanical Design) - IIT Madras | Covers areas of Product Design, Engineering Design Optimisation, Advanced Composites, Advanced Mechanics of Solids, Product Reliability, Computational Methods on Engineering, Advanced Dynamics, Vibrations, FEA, Advanced Composites. | E-III E-VI grade Executives | 16 Executives are attending the program |
In the Quality Domain the following Programs were conducted during the FY:
Name of the Program |
Brief of the Program | Target Audience | Coverage |
| 1) Certified Quality Engineer (ASQ- CQE) | The ASQ-CQE Certification is a globally recognised certification for Quality Engineers working in any field. This is the mother of all ASQ Certifications, 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 work processes. The ASQ-CQE Body of Knowledge (BoK) covers all the latest and relevant global concepts on quality and related topics. | E-III E-VIA grade Executives | 25 Executives attended the program |
| 2) Certified Reliability Engineer (ASQ- CRE) | The ASQ-CRE is one of the most sought-after and globally recognised certification for Design Engineers. The ASQ-CRE Body of Knowledge (BoK) includes design review and control, prediction, estimation, and apportionment methodology, FMEA, planning, operation and analysis of reliability testing including mathematical modelling, 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 | E-III E-VIA grade Executives | 29 Executives attended the program |
| 3) Certified Manager of Quality/ Organisational Excellence (ASQ- CMQ/OE) | The ASQ-CMQ/OE is one of the most prestigious and globally recognised certification for top level Quality Managers. The ASQ-CMQ/OE Body of Knowledge (BoK) includes topics like: Lead and champion process improvement initiatives in organisations. Lead team efforts to establish and monitor customer/ supplier relations; support strategic planning and deployment initiatives. Develop measurement systems to determine organisational improvement. Motivate and evaluate staff; manage projects and human resources. Analyse financial situations, determine and evaluate risk, and employ knowledge management tools and techniques in resolving organisational challenges | E-V E-VII grade Executives (EV + 4 Years of Experience) | 14 Executives attended the program |
| 4) Project Management Professionals (PMP) | The PMP Certification [based on Exam Content Outline (ECO)] is one of the most sought-after and globally recognised 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 to the basic project Management terminology, glossary and concepts including the Agile concepts as given in the PMBOK Guide. This "35 Contact Hours Project Management Preparatory Training" Program is a mandatory requirement for taking the PMP certification exam offered by PMI-USA. | E-IV E-VII grade Executives | 51 Executives attended the program |
| 5) Design for Six Sigma Green Belt (DFSS-GB) (ISI) | Studies have shown that 70 - 80% of all quality problems are design related. The Design for Six Sigma (DFSS) aims to design or redesign products, services or processes so as to achieve Six Sigma quality. In addition to Six Sigma DMAIC tools, the program provides additional tools, structure and better methods for new design or design modification to achieve greater commercial and technical success of the ultimate product or service. The DFSS approach uses a structured method of DMADV, which indicates the five phases of design improvement, i.e. Define, Measure, Analyse, Design, and Verify. | E-III E-VIA grade Executives | 20 Executives attended the program |
| 6) Certified Six Sigma Black Belt (CSSBB) (ISI) | Six Sigma-DMAIC methodology is a powerful breakthrough business strategy based on data and fact-driven approach, and sound performance metrics coupled with statistical analysis. It uses a structured method of DMAIC, i.e. Define, Measure, Analyse, Improve, and Control. | E-IV E-VIA grade Executives | 13 Executives attended the program |
| The program is at Black Belt (BB) level. A Certified Six Sigma Black Belt (CSSBB) can successfully apply the methodology for breakthrough process improvement resulting in significant improvement in quality, productivity and competitiveness. | |||
| 7) Certified Data Analytics (CDA) (ISI) | Data is extremely important for an organisation. The insights gained from data analysis can help an organisation develop specific strategies and actions to cost reduction, new product development and optimised customer offerings, and smarter business decision making that drives growth and reduces risks. In order to move to a fact-based decision-making culture, managing performance, establishing a framework for decision-making and aligning strategies, the todays organisations must adapt business analytics. The course will dwell upon the data management techniques, supervised learning for developing models using statistical learning techniques, and machine learning techniques. | E-III E-VIA grade Executives | 25 Executives attended the program |
Name of the Brief of the Program |
Target Audience | Coverage |
| 8) Basics of Data Data are extremely important for an organisation. The insights gained from data Analytics (Data-X) analysis can help an organisation develop specific strategies and actions for cost (ISI) reduction, new product development and optimised customer offerings, and smarter business decision making that drives growth and reduces risks. In order to move to a fact-based decision-making culture, managing performance, establishing a framework for decision-making and aligning strategies, the todays organisations must adapt business analytics. The course will dwell upon the Overview of R Studio, Data Summarisation, Visualisation Techniques, Test of Hypothesis & ANOVA, Case Studies. | 33 Executives attended the program | |
| 9) ISO 14001:2015 Internal audit is an important aspect of an Environmental Management System. EMS Internal This course is intended to provide an understanding of the global environmental Auditor Program 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. | E-IV E-VIA grade Executives | 18 Executives attended the program |
| 10) ISO 9001:2015 Internal audit is an important aspect of a Quality Management System. This course QMS Internal is intended to provide an understanding of the evolution of ISO 9000 Series Auditor Program Standards, Fundamental Quality Management Principles, and the requirements of the ISO 9001:2015 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. | E-IV E-VIA grade Executives | 14 Executives attended the program |
| 11) ISO 27001:2022 ISMS Internal Internal audit is an important aspect of an Information Security Management Auditor Program System. This course is intended to provide Overview and Requirements, Internal Audit Process, Skills, 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. | E-IV E-VIA grade Executives | 14 Executives attended the program |
| 12) ISO 45001:2018 Internal audit is an important aspect of an Occupational Health and Safety OH&S Internal Management. This course is intended to provide Overview and Requirements, Auditor Program Internal Audit Process, Skills, Conformance & NC, Case Study, 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. | E-IV E-VIA grade Executives | 19 Executives attended the program |
| 13) AS 9100 Internal Internal audit is an important aspect of an Aerospace Quality Management System. Auditor Program This course is intended to provide Overview and Requirements, Internal Audit Process, Skills, Conformance & NC, Case Study, Audit Report & Follow-up. The program also covers the auditing requirements, and methodologies essential to conduct an effective internal audit as per AS 9100 Guidelines. Audit case studies and open discussions are used to reinforce the learning and required skills of an internal auditor. | E-IV E-VIA grade Executives | 10 Executives attended the program |
| 14) Business Internal audit is an important aspect of Business Continuity Standards. This course is Continuity intended to provide Leadership Support, Awareness on ISO 22301-2019 Standard Standards (ISO Build Resilience, Automate Business Continuity Management (BCM). The program 22301-2019 also covers the auditing requirements, and methodologies essential to conduct an Standard) effective internal audit as per ISO 22301 Guidelines. Audit case studies and open discussions are used to reinforce the learning and required skills of an internal auditor. | E-II E-V grade Executives | 13 Executives attended the program |
| 15) ISO 27001:2022 Lead Auditor is an important aspect of an Information Security Management ISMS Lead System. This course is intended to provide Overview of ISO 27001, Statement of Auditor Program Applicability, Auditor Competencies, Audit Program, Prepare, Conduct an Audit, Audit Report and Follow-Up. The program also covers the auditing requirements, and methodologies essential to conduct an effective Lead Audit as per ISO 27001 Guidelines. Audit case studies and open discussions are used to reinforce the learning and required skills of a Lead Audit. | E-VI E-VII grade Executives | 9 Executives attended the program |
Name of the Program |
Brief of the Program | Target Audience | Coverage |
| 16) ISO 45001:2018 OH&S Lead Auditor Program | Lead Auditor is an important aspect of Occupational Health and Safety Management. This course is intended to provide OH&S Overview, Auditor Competencies, Audit Program, Prepare, Conduct an Audit, Audit Report & Follow-up. The program also covers the auditing requirements, and methodologies essential to conduct an effective Lead Audit as per ISO 45001 Guidelines. Audit case studies and open discussions are used to reinforce the learning and required skills of a Lead Audit. | E-VI E-VII grade Executives | 8 Executives attended the program |
| 17) ISO 9001:2015 QMS Lead Implementer Program | Lead Implementer is an important aspect of a Quality Management System. This course is intended to provide Introduction to ISO 9000 Series Standards, Quality Mgmt. Principles, ISO 9001 Requirements, Formats & Checklist. | E-I E-III grade Executives | 24 Executives attended the program |
| 18) ISO 27001:2022 ISMS Lead Implementer Program | Lead Implementer is an important aspect of an Information Security Management System. This course is intended to provide. Introduction, Risk Relationships, Information Security Policy, ISO 27001 requirements, Formats & Checklist, Statement of Applicability. | E-I E-III grade Executives | 16 Executives attended the program |
| 19) ISO 45001:2018 OH&S Lead Implementer Program | Lead Implementer is an important aspect of an Occupational Health and Safety Management. This course is intended to provide Introduction, Implementation plan of an OH&S Management Standard, ISO 45001 requirements, Formats & Checklist. | E-I E-III grade Executives | 11 Executives attended the program |
| 20) AS 9100 Lead Implementer Program | Lead Implementer is an important aspect of Aerospace Quality Management System. This course is intended to provide an Introduction, Aerospace Standard (AS 9100), Foreign Object Damage (FOD), AS 9100 requirements Formats & Checklist. | E-II E-III grade Executives | 18 Executives attended the programs |
| 21 ISO 14001:2015 EMS Lead Implementer Program | Lead Implementer is an important aspect of Environmental Management System. This course is intended to provide Introduction, International Organisation for Standardisation, (ISO)-14001, Global Environmental issues Legal Framework, Formats & Checklist. | E-II E-III grade Executives | 26 Executives attended the programs |
| 22) ERP AUDIT (ERP Process Auditing) | ERP Process Auditing is an important aspect of checking the proper implementation of ERP System. This course is intended to provide Overview and Scope, Types of ERP Audits, Conformance & NC, Audit Framework, Audit Report & Follow-up | E-VI E-VII grade Executives | 13 Executives attended the program |
| 23) SIX SIGMA DMAIC - GREEN BELT (DMAIC-GB) | Six Sigma is a data-driven, process oriented approach, for causing breakthrough improvement in products, processes, and services. Six Sigma is a new culture of doing business. It started with defect elimination through variability reduction in processes, and has now become a means to achieve business excellence. Six Sigma DMAIC methodology uses a structured method of Define, Measure, Analyse, Improve and Control. The program will cover the 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 and to successfully apply the methodology for SixSigmaGreenBeltcertifications, breakthrough improvement. | E-III E-VIA grade Executives | 87 Executives attended the program |
| 24) Quality Concepts for Industry 4.0 Program Internet of Things. | Quality Concepts for Industry 4.0 is very relevant in todays business. This course is intended to provide The Evolution of Quality 4.0, Establishing and Implementing Quality 4.0 Principles, Quality 4.0 Tools & Value Propositions, ASQ Quality 4.0 Study, Context of Industry 4.0, Alignment of TQM with I 4.0, etc., Leverage Data Analytics,ArtificialIntelligence, | E-II E-VII grade Executives | 21 Executives attended the programs |
| 25) Quality Management Tools Program | Quality Management Tools are very important for every individual for Process Improvements. This course is intended to provide Quality Control Tools, Quality Management, Quality Planning, Lean Concepts and Tools. | E-II E-III grade Executives | 37 Executives attended the programs |
| 26) New Programs | Basics of Project Management, Business Excellence Model, Product & Process Design, Problem-Solving Tools & Techniques, Quality Tools for Analysis, RAMS (Reliability, Availability, Maintainability & Safety), Statistics for Six Sigma. | E-II E-III grade Executives | 186 Executives attended the programs |
Some of the external/open programs/conferences attended by our Executives are:
1. Master Class on Building Better Boards by the Indian Institute of Corporate Affairs (IICA).
2. 13th Executive Development Program by SCOPE
3. Master Class on Negotiation Skills by CII
4. Workshop on Navigating Sexual Harassment of Contract Employees in an evolving workplace conducted by SASHA
5. Vigilance course for Junior & Middle-Level Vigilance Officers on Preventive Vigilance, Joint Surprise Check
& Departmental Enquiry etc. for Vigilance Officers conducted by CBI Academy Ghaziabad
6. Workshop on Leadership Development for Women Executives conducted by Standing Conference of Public Enterprises (SCOPE)
7. 3 days Residential Training Programme on Public Procurement at AJNIFM, Faridabad conducted by CVC
8. Training Program on Reservation in services for SCs, STs, OBCs, EWS, Ex-Servicemen and Persons with Disabilities conducted by the Institute of Good Governance (IGG)
9. National Ayush Conference (NAC)2023 AYUSHMAN with support of Ministry of Ayush
10. 3 Days training program on Preventive Forensics conducted by CVC
11. Training Programme on "Climate Risk Management:
Policy and Governance for Scientists & Technologists working in the Government sector conducted by Centre for Disaster Management (CDM)
12. 17th Global Communication Conclave conducted by PRCI, New Delhi
13. Online Workshop on "Ethics & Governance" by NAHRD
14. Training Program on Conduct Rules and Disciplinary Proceedings conducted by Institute of Good Governance (IGG)
15. 39th NIPM National Conference 2023 for HR professionals conducted by Pune chapter
16. National Meet on RTI organised by SCOPE
17. Training Programme on Geospatial Technologies &
Applications conducted by ISRO
18. 6th Edition CRO Leadership Summit & Awards,2023 conducted by UBS forums
19. 55th Regional Conference of SIRC of ICAI
20. Workshop on Procurement in CPSEs conducted by DPE
21. Drafting of Mergers and Acquisitions (M&A) Contracts conducted by SAP networks
22. Forensic Auditing and Court of Law: Financial Crimes & Fraud Investigation conducted by NFSU
23. National Conference on Responsible Business Conduct 2023 organised by NIPM
24. Offline training programme on "Vigilance Administration" conducted by CBI Academy, Ghaziabad
25. Certificate Course on Internal Audit conducted by IRILMM
26. DPE-UNICEF Regional CSR Workshop conducted by the Department of Public Enterprise (DPE)
27. A two day training program on Corporate Social
Responsibility for Business Sustainability conducted by the Institute of Public Enterprises (IPE) & NLC Limited
28. Advanced Contract Drafting, Negotiation & Dispute Management conducted by Koncepto Media Services
29. One-day Training Program for Company Secretaries of
CPSEs on ‘Effective functioning of Boards of CPSEs and DPE online portal conducted by the Department of Public Enterprises (DPE) in association with the Institute of Company Secretaries of India.
‘Abhyudaya- Centre for Learning
Another major initiative in the direction of building a learning organisation was creation of ‘Abhyudaya- Centre for Learning as a centralised Learning facility for Non-
Executive employees during January 2024.
Abhyudaya - Centre of Learning aims to provide impetus to learning initiatives and ensure that non-executives across the Company are provided with consistent and high-quality training.
The objective of Abhyudaya - Centre for Learning (ACL) is to impart competency enhancement initiatives in the Technology, Quality and Behavioural domains; streamline & standardise learning initiatives across Units of BEL & continuously up-skill/re-skill the employees in light of the changing business landscape.
| For and on behalf of the Board | |
| Bengaluru | Manoj Jain |
| 1 August 2024 | Chairman & Managing Director |
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