Bharat Electronics Ltd. — Capital/Financing Update 2023

Mar 30, 2023

SREENIVA S SRIPADA

Digitally signed by SREENIVAS SRIPADA DN: c=IN, o=BHARAT ELECTRONICS LIMITED, 2.5.4.20=2785c3f8889288c5c03452d0f6bfbd07ecfa7416298e4d510fd5354c33bb0aa8, ou=SECRETARIAT,CID - 6840256, postalCode=560045, st=Karnataka, serialNumber=8da16a32e5cf7b4693c748a3f167cf33b9870c0132bad61e7d1c3490de34d08f, cn=SREENIVAS SRIPADA Date: 2023.03.30 17:12:18 +05'30'

PRESS RELEASE:

MOD SIGNS 02 CONTRACTS WORTH RS.2,696 CRORE WITH BHARAT ELECTRONICS LIMITED (BEL) FOR INDIAN ARMED FORCES

Ministry of Defence (MoD) has signed Two contracts worth of Rs.2,696 Crore with Bharat Electronics Limited, Bangalore to bolster the defence capabilities of the country:

• a) LYNX U2 Fire Control Systems (13 Nos.) for Indian Navy for Rs 1705 Crs is a Naval Gun Fire Control System designed to acquire, track and engage targets amidst sea clutter. The Gun Fire Control System has been designed with an open and scalable architecture, permitting simple and flexible implementation in many different configurations. The system has been developed, upgraded continuously with indigenization as a major focus along with technology upgrades, and delivered to Indian Navy. It has been in service for over two decades, satisfactorily meeting the tactical requirements of Indian Naval ships of various classes like destroyers, frigates, missile, boat, corvettes, etc. The system proposed in the contract is of the fourth generation and is a completely indigenized system, developed in the true spirit of ‘Atmanirbhar Bharat’.

• b) Weapon Locating Radar (Swathi) (12 Nos.) for Indian Army for Rs 991 Crs has been primarily designed to locate hostile guns, mortars and rockets. In its secondary role it can track and observe the fall of shot from own weapons to provide corrections to own fire. Detection, location and Tracking of the requisite targets is handled by the advanced algorithms and state of the art hardware. The ability to locate enemy weapons from its first round and transmit the data of the required target to the counter fire elements for retaliatory strike before the target is redeployed is the key feature of the RADAR. SWATHI is a joint development project undertaken by RADAR house LRDE (DRDO) and Bharat Electronics Limited to fulfill the requirement of Indian Army.

These are flagship projects showcasing the indigenous design and manufacturing capabilities of Indian Defence industry led by BEL, involving other Public Sectors, Private Sectors and MSMEs. These projects will add another milestone to the ‘Atmanirbhar Bharat Abhiyaan’ and ‘Make in India’ initiative of the Government of India.

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