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August 09, 2018 09:19 AM | Business

Bharat Electronics raises order inflow target to over Rs 17,000 crore for FY19

Shares of Bharat Electronics Ltd (BEL) jumped on Wednesday after it won an order worth Rs 9,200 crore to supply and services of Long Range Surface-to-Air Missile (LRSAM) systems.

MV Gowtama, chairman and managing director of BEL spoke to CNBC-TV18 about the order book and company's outlook.

“The 19 percent profitability comes with mix of products and services. Margins will be getting in that particular equipment. So we are exempted being a defence company. I assure you that we certainly will be maintaining our margins position. This is for the first time we are getting more than Rs 9,000 crore single order on BEL,” he said.

“If possible we will try to bring visibility from FY20 onwards,” said Gowtama.

Speaking about the order inflow, Gowtama said that, “We will be touching more than Rs 17,000 crore.”

“I am expecting Akash order also in Q3. From our side we have completed the negotiation,” said Gowtama.
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