Bharat Electronics Limited Secures Big Export Order from Thales Reliance Defence Systems

Bharat Electronics Limited (BEL), a state-owned aerospace and defence electronics company, has received an export order worth Euro 25.75 million (approximately Rs 230 crores) from Thales Reliance Defence Systems (TRDS). This order is for the manufacture and supply of transmit-receive (TR) modules, which will be used in the radars of fighter aircraft.

In addition to this, BEL has secured orders valued at Rs 192 crores since June 28, 2024. These orders include communication equipment, encryptors, spares, and services for radars and fire control systems. With these new orders, BEL’s total orders for the current financial year have reached Rs 5,225 crores.

Shares of BEL have been performing well, hitting all-time highs due to the series of orders received. Although the shares were 0.8% lower at Rs 332.8 at the time of reporting, they had recently touched an all-time high of Rs 340.5. In 2024, BEL’s shares have risen by 80% cumulatively, and over the past five years, they have provided an 840% return to shareholders.

The Indian government has set a target to achieve Rs 175,000 crore in indigenous defence manufacturing by 2024-25, including Rs 35,000 crore in defence exports. Several policy initiatives and reforms have been introduced to promote self-reliance in defence manufacturing. The government is also investing heavily in defence and aerospace manufacturing, with several defence hubs being established.

India’s defence exports reached a record Rs 21,083 crore (about USD 2.63 billion) in the financial year 2023-24, showing a 32.5% growth over the previous fiscal year. The total value of defence production in India rose by 17% to Rs 1,26,887 crore last fiscal year.