MoU signed between Department of Defence Production and BEL

July 17, 2017 Photo(s): By PIB
The Secretary (Defence Production), Ashok Kumar Gupta and the CMD, Bharat Electronics Limited (BEL), M.V. Gowtama at the MoU signing ceremony, in New Delhi on July 17, 2017

Bharat Electronics Limited (BEL), a Navratna Schedule 'A' Central Public Sector Enterprise (CPSE) under the Department of Defence Production, Ministry of Defence signed a Memorandum of Understanding (MoU) for the financial year 2017-18 with the Ministry. The annual MoU was signed between Secretary (Defence Production) Ashok Kumar Gupta on behalf of the Ministry of Defence and Chairman and Managing Director, BEL MV Gowtama.

The revenue from operations has been targeted at Rs. 9000 crore. The Operating Profit to Revenue from Operations target has been set at 14 percent and PAT to Average Networth has been set at 15 percent.

Turnover from exports and increase in indigenous content are given additional focus during the year, along with other parameters like CAPEX investment and Monitoring of CAPEX projects, Reduction in Trade Receivables, and HR related parameters.