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 Bharat Electronics Ltd (BEL), the government-owned aerospace and defense electronics company, on Wednesday said it has registered a turnover growth of 9 per cent over the previous year, in spite of challenges due to Covid-19 pandemic, global chip shortage and stiff competition.

The defence public sector unit registered a turnover of Rs 15,044 crore in 2021-22 against Rs 13,818 crore in 2020-21, and Rs 2,349 crore profit after tax for this year against Rs 2,065 crore in the previous year.

It also said that it logged export turnover of $33.30 million and achieved market capitalisation of Rs 60,000 crore.

The BEL also said that its Armoured Engineer Reconnaissance Vehicle has been inducted into the Indian Army, and the first prototype of indigenously developed Universal Driver Training Simulator for Rolling Stock (i-UDTS) has been inaugurated by Secretary, Housing and Urban Affairs.

Turnover from indigenous technology is 78 per cent, the BEL statement said.

It also said that some of the major orders executed during the year include Long Range Surface to Air Missile, Akash Weapon System, Fire Control System, Integrated Air Command and Control System, Advanced Composite Communication System, Integrated Electronic Warfare Suite, and Coastal Surveillance System.

BEL Chairman and Managing Director Anandi Ramalingam, Director, Other Units, Bhanu Prakash Srivastava, Director, Finance and CFO, Dinesh Kumar Batra, Director, Bengaluru Complex, Vinay Kumar Katyal, and Director, R&D, M.V. Raja Sekhar were present during the annual press conference held in this connection.