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BEL pays Rs 232 Cr as final dividend to government
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BEL pays Rs 232 Cr as final dividend to government

Agency News

New Delhi, Oct 24: Defence Public Sector Undertaking Bharat Electronics Limited (BEL) on Thursday paid a final dividend 170 per cent amounting to Rs 231.69 crore to the government for financial year 2018-19.

Defence Minister Rajnath Singh received the dividend cheque from Chairman & Managing Director of BEL M V Gowtama here on Thursday. The amount is payable on the shares held by the President, the defence ministry said in a statement.

With this, BEL has now paid a total dividend of 340 per cent for financial year 2018-19. The Interim Dividend of 170 per cent (on face value of Re 1 per equity share) was paid to the government in February and March 2019. BEL is a Navaratna PSU and India’s foremost defence electronics company.

It is a multi-product, multi-technology, multi-unit conglomerate which supplies over 350 products in the areas of defence products like Radars, Missile Systems, Military Communications etc and non-defence products like Electronic Voting Machines (EVMs), Voter Verifiable Paper Audit Trail (VVPAT) and solar products. Though defence continues to be the mainstay of BEL, the company has made an impact in civilian life through its diversified product mix such as solar traffic signals and EVMs, it added.
The Army, Navy, Air Force, Paramilitary, Coast Guard, Police, Department of Telecommunications and Election Commission of India are the main clients of BEL. BEL has a three-tier R&D setup comprising Development and Engineering (D&E) Divisions at its 9 Units; Product Development & Innovation Centre (PD&IC), a centralized facility to cater for new product/sub-system development requirements of all Units/SBUs; and Central Research Labs (CRLs) at Bengaluru and Ghaziabad for carrying out futuristic, cutting-edge research.

BEL registered a turnover of Rs 11,789 crore during 2018-19, recording a growth of 17 per cent over the previous year; profit before Tax was Rs 2,703 crore; Profit after tax was Rs 1,927 crore. The company recorded an Export Turnover of Rs 153 crore.(UNI)