Bharat Electronics Confirms Rs. 665.84 Cr Order from CBIC for IT
Bharat Electronics Limited ( BEL ) has clinched significant orders totaling Rs. 847 crores, marking a major milestone in its current financial year operations. The notable order, valued at Rs. 666 crores ( plus taxes ), has been awarded by the Central Board of Indirect Taxes and Customs ( CBIC ) for the implementation and management of IT infrastructure.
The comprehensive project encompasses the supply, installation, and maintenance of IT and networking infrastructure, along with field IT support and centralized management and monitoring. The contract, signed on Tuesday, is a substantial achievement for BEL, positioning it as a key player in large-scale civilian projects during the fiscal year 2024.
Additionally, BEL has secured multiple orders amounting to Rs. 182 crores for miscellaneous spares and services. The cumulative order value of these contracts, combined with previous wins, has propelled BEL’s total orders to an impressive Rs. 28,494 crores during the Year-to-Date ( YTDFY24 ). The company’s robust order backlog, estimated at around Rs 77,000 crores, provides a strong revenue growth outlook, standing at approximately 4.2 times the Trailing Twelve Months ( TTM ) revenues, said ICICI.
The order pipeline remains promising across various sectors, including defence, where BEL continues to excel in electronic warfare, radars, communication, navigation systems, and more. These technologies are designed for deployment across diverse platforms such as fighter jets, warships, missiles, and unmanned aerial vehicles. The non-defence and export segments also contribute significantly to BEL’s thriving order pipeline.
