- 25 Jul 2022
- ICICIdirect Research
BEL signed a contract with MoDBEL - 92 Change: -0.55 (-0.59 %)
News: Bharat Electronics (BEL) has signed a contract with the Ministry of Defence for supply of nine Integrated ASW Complex (IAC) MOD "C Systems which are an Integrated Anti-Submarine Warfare (ASW) systems used in surface ships of the Indian Navy. The value of the contract is around Rs. 250 crores.
Views: These systems has been indigenously developed by BEL in association with DRDO and facilitates firing of ASW weapons such as Torpedoes & Rockets. The company recently stated that it has a pipeline of ~Rs 120 bn worth of orders for these kind of electronic warfare (EW) products from defence shipyard companies. BEL’s order backlog stands strong at ~Rs 555 bn (~3.3x TTM revenues). We expect Rs 200 bn worth of order inflows during FY23E which will include orders from segments like EW, Radars and non-defence areas like Railways, Metros, Healthcare etc.