BEL Wins ₹962 Crore Defence Orders, Including ₹610 Crore Navy Contract

9 Feb 2025 , 01:51 PM

Bharat Electronics Ltd (BEL) announced that it has secured orders worth ₹962 crore. The orders includes ₹610 crore for EOFCS, or Electro-Optic Fire Control System, from the Indian Navy.

The EON-51 Electro-Optical Fire Control System has been provided search and detection of a target through electro-optical as well as thermal imaging devices to classify it. It is developed indigenously, ready for mounting on Indian Naval ships. It is deployable for panoramic as well as sector searches, day and night tracking and also targets can be engaged through medium and short-range gun mounts.

The Ministry of Defence signed a contract with BEL in New Delhi for the procurement of 28 EON-51 systems for 11 offshore patrol vessels and three cadet training ships, amounting to a total cost of ₹642.17 crore under the Buy (Indian-IDDM) category.

Above this, since the last update on January 28, 2025, BEL has won orders worth ₹352 crore. The contracts are for anti-drone systems, fuzes, integrated fire detection and suppression systems, vessel communication systems, spares, and services.

Total order book for BEL stands at ₹11,855 crore for the current financial year. BEL has delivered a year-on-year rise of 47.3% in net profit at ₹1,316 crore. Revenue grew by 39% YoY to ₹5,756 crore. EBITDA rose by 57.5% YoY to ₹1,653 crore. The EBITDA margins have been upped 330 basis points to 28.7% from the year ago 25.4%. Strong order book and financials have positioned the company as an important player in India’s defense space.