BEL pays Rs. 231.69 Cr Final Dividend to Govt of India

BEL pays Rs. 231.69 Cr Final Dividend to Govt of India

Fri, 10/25/2019 - 22:12
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BEL, October 24

Navratna Defence PSU Bharat Electronics Ltd (BEL) has paid a total dividend of 340% on its paid up capital to the Government of India for Financial Year 2018-19.

Mr M V Gowtama, Chairman & Managing Director, BEL, presented the 170% final dividend cheque for Rs. 231,69,20,842.10/- (Rupees Two Hundred & Thirty-one Crores Sixty-nine Lakh Twenty Thousand Eight Hundred Forty-two and Ten Paise only), payable on the shares held by the President of India, to the Hon’ble Defence Minister, Shri Rajnath Singh, at New Delhi on October 24, 2019. Mr Barun Mitra, IAS, ASDP, and Mr Koshy Alexander, Director (Finance), BEL, were present. The Interim Dividend of 170% (on face value of Re. 1 per equity share) was paid to the Government of India in February and March, 2019.

BEL ended FY 2018-19 on a high note, achieving a turnover of Rs.11,789.22 Crs and registering a growth of 16.90% over the previous year. The Profit After Tax (PAT) increased by 37.73% over the previous year to Rs.1,927.29 Crs. The Company recorded an Export Turnover of 21.6 Million USD. R&D has been the main focus area of BEL for increasing indigenisation and value addition in its products and systems. The Company invested a total of Rs. 1,077 Crores in R&D last year and achieved 96% sales revenue from indigenous technology. BEL also invested Rs. 668 Crs on expansion and modernisation of its facilities.

Some of the significant orders executed during FY 2018-19 included supply of Integrated Air Command & Control System, Electronic Voting Machine, Voter Verifiable Paper Audit Trail (VVPAT), Weapon Locating Radar, Ground-based Mobile Electronic Intelligence System, Low Intensity Conflict Electronic Warfare System (LIC EWS), Schilka Upgrade, TROPO Upgrade and L70 Gun Upgrade.

During the year, BEL also executed export orders for its Coastal Surveillance System to friendly countries such as Maldives, Seychelles and Mauritius. Some of the other highlights of the year included launch of India’s first indigenously developed Auto Fare Collection Gate, SWAGAT, setting up of new marketing offices abroad, and the dual honour of CII EXIM Bank Business Excellence Award and Jury’s Commendation for Role Model Organisation.

The Order Book value of BEL as on October 1, 2019, is Rs. 56,100 Crores.