BEL’s order backlog increased by 25 per cent Y-o-Y to Rs. 40,000 crore in FY17 following Indian Navy’s order of long-range surface-to-air missiles (LRSAMs).
Bharat Electronics Limited (BEL), the largest manufacturer of electronic warfare equipments, has bagged orders worth Rs.16,000 crore in FY17. This is higher than its expected target of Rs 11000-13000 crore.
In FY16, it had book-to-bill ratio of 2.3x as this was the second year in a row when order inflow was higher than the management estimates.
BEL’s order backlog increased by 25 per cent Y-o-Y to Rs. 40,000 crore in FY17 following Indian Navy’s order of long-range surface-to-air missiles (LRSAMs).
The company expects Rs 13,000 crore worth of order inflow in FY18, which appears to be conservative. The order inflow is likely to be driven by Akash missiles and electronic warfare systems which has orders worth Rs 2000 crore.
The BEL stock was up by 2.57 per cent in Thursday's trade over its previous close of Rs 161.35. The stock has touched a high of Rs. 166.75 and its closed at Rs.165.50.
