BEL bags Rs. 9,200 crore missile order

State-owned aerospace and defence company, BEL will supply and services seven Long-range Surface-to-air Missile systems for MDL and GRSE.

Bharat Electronics Limited (BEL) The company has entered into contracts with Mazagon Dock Shipbuilders Limited (MDL) and Garden Reach Shipbuilders and Engineers Limited to supply seven Long-range Surface-to-air Missile (LRSAM) systems to be fitted on seven ships to built by these two shipbuilders. The company informed the exchanges about the order receipt post-lunch hours on Wednesday.

As on July 1, BEL's order book position stood at Rs. 41,645 crore. For Q1FY19, BEL posted a net turnover of Rs. 2,077.84 crore which is a growth of about 23 per cent as against Rs. 1,694.55 crore in Q1FY18. PAT for the quarter was Rs. 179.73 crore, up by 43 per cent as compared to Rs. 125.32 crore recorded in the corresponding period.

On Wednesday, the stock of BEL closed at Rs. 120.80 per share, up by 3.74 per cent on BSE, while BSE Sensex was at 37,887.56, up by 221.76 points or 0.59 per cent.