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Dear S'r'Madam,

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Pursuant to Regu'at'on 33(3) of the SEB' (L'st'ng Ob''gat'ons and D'sc'osure Requ'rements) Regu'at'ons, 2015, p'ease f'nd enc'osed herew'th the Statement of Unaud'ted Standa'one and Conso''dated ^F'nanc'a' Resu'ts and ^L'm'ted Rev'ew Report for the quarter ended 301h June, 2021 a'ong w'th copy of Press Re'ease.

?£5FTT ^w ^w tÿ' Th's 's for your 'nformat'on and record.

Thank'ng you,

wfk' Yours fa'thfu''y,

wft Company Secretary

Ends: As stated above.

(CIN: L32309KA1954GC)I000787)

Registered & Corporate Office: Outer Ring Road, Nagavara, Bengaluru - ⁵⁶⁰ 045.

E-mail: [email protected], Website: www.bel-india.in. Ph: 080-25039300/25039266 Fax: 080-25039266

Statement of standalone and consolidated unaudited results for the quarter ended ³⁰ June, 2021

A. Standalone Results

			t		(? in Lakhs)
SI.			Year ended
No	Particulars	30.06.2021	31.03.2021	30.06.2020	31.03.2021
		(Unaudited)	(Refer note 5)	(Unaudited)	(Audited)
1	operations Revenue from
i	Sales / income operations from	56,434 1,	6, 75,705	63,963 1,	13,81,816
ii	Other operating income	7, 025	15,129	3, 096	24,567
	operations from revenue Total	63,459 1,	90,834 6,	67,059 1,	14,06,383
2	Other income	4, 466	717 5,	839 1,	12,610
3	income (1+2) Total	67,925 1,	96,551 6,	68,898 1,	14,18,993
4	Expenses
	Cost ofmaterials (a) consumed	03,229 1,	3, 06,662	83,499	6,72,394
	(b) Consumption of stock-in-trade	731 9,	72,363	18,426	23,321 1,
	of (c) Changes in inventories finished goods, work-in-progress and scrap	(17,495)	27,907	(19,582)	(12,933)
	benefits Employee (d) expense	49, 504	47,819	51,170	94,068 1,
	costs (e) Finance	14	555	7	608
	Depreciation and amortisation (f) expense	221 9,	9, 166	8, 879	36,633
	(g) Other expenses	12,204	39,026	18,875	11,421 1,
	Total expenses	66,408 1,	5, 03,498	61,274 1,	11,25,512
5	Profit before items exceptional & tax (3-4)	517 1,	93,053 1,	7, 624	93,481 2,
6	Exceptional items	-	-	-	-
7	Profit before tax (5 - 6)	517 1,	93,053 1,	7, 624	93,481 2,
8	expense (including deferred Tax tax)	402	57,815	211 2,	86,939
9	Profit the period for (7 - 8)	115 1,	35,238 1,	413 5,	2, 06,542
10	(net oftax) Income Other Comprehensive / (Loss)	341 3,	(5,305)	2, 004	(8,709)
11	for the period comprehensive income Total (9 + 10) profit and other comprehensive [comprising income for the period]	4, 456	29,933 1,	417 7,	97,833 1,
12	Paid-up share capital equity Value of ? 1/- (Face each)	24,366	24,366	24,366	24,366
13	Other Equity excluding Revaluation Reserves	-	-	-	10,56,423
14	Eanings per share (Basic Diluted) (?) (not annualised) &	0. 05	5. 55	0. 22	48 8.

See-accompanying notes to the financial results.

ore »

B. Consolidated Results

	(X in Lakhs)
SI.		Quarter ended			Year ended
No	Particulars	30.06.2021	31.03.2021	30.06.2020	31.03.2021
		(Unaudited)	(Refer note 5)	(Unaudited)	(Audited)
1	operations Revenue from
i	from operations Sales / income	57,514 1,	6, 76,996	64,146 1,	13,84,971
ii.	Other operating income	7, 353	14,751	413 3,	25,898
	operations Total revenue from	64,867 1,	91,747 6,	67,559 1,	14,10,869
2	Other income	4, 531	751 5,	648 1,	12,496
3	(1+2) Total income	69,398 1,	6, 97,498	69,207 1,	14,23,365
4	Expenses
	(a) Cost of materials consumed	03,600 1,	05,415 3,	83,536	71,752 6,
	of (b) Consumption stock-in-trade	731 9,	72,363	18,426	23,321 1,
	offinished (c) Changes in inventories goods,	(17,826)	29,195	(19,611)	(12,469)
	work-in-progress and scrap
	(d) Employee benefits expense	49,936	48,070	51,593	95,589 1,
	(e) Finance costs	13	560	7	637
	t isation (f) Depreciation expense and amo	745 9,	684 9,	9, 402	38,732
	(g) Other expenses	12,423	38,614	19,007	11,625 1,
	Total expenses	67,622 1,	03,901 5,	62,360 1,	11,29,187
5	Profit items, share of net profit of before exceptional associates accounted under equity method & tax (3-4)	776 1,	93,597 1,	6, 847	94,178 2,
6	Exceptional items	-	-	-	-
7	of of associates Profit before net profit share accounted under equity method & tax (5 - 6)	776 1,	93,597 1,	847 6,	94,178 2,
8	Tax expense (including deferred tax)	471	58,024	2, 094	87,244
9	share of net profit of associates Profit before accounted under equity method (7 - 8)	305 1,	35,573 1,	4, 753	2, 06,934
10	of Share of net profit associates accounted under equity method	136 1,	242 1,	631	042 3,
11	Profit for the period (9 + 10)	441 2,	36,815 1,	384 5,	2, 09,976
12	/ (Loss) (net oftax) Income Other Comprehensive	3, 342	(5,352)	2, 005	(8,751)
13	the period (11 Total comprehensive income for + 12) for [comprising profit and other comprehensive income the period]	783 5,	31,463 1,	389 7,	2, 01,225
14	/ (Loss) attributable Profit Net to a) Owners of the Company Controlling Interest b) Non	2, 435 6	36,809 1, 6	379 5, 5	09,894 2, 82
	Licome Other Comprehensive attributable to a) Owners ofthe Company b) Non Controlling Interest	342 3,	(5,352)	2, 005	(8,751)
	Comprehensive Income attributable Total to a) Owners of the Company b) Non Controlling Interest	5, 777 6	31,457 1, 6	7, 384 5	01,143 2, 82
15	Paid-up equity share capital (Face Value of ? 1/- each)	24,366	24,366	24,366	24,366
16	Other Equity excluding Revaluation Reserves	-	-	-	10,81,592
17	(ÿ & Diluted) ) (not annualised) Earnings per share (Basic	0. 10	5. 62	0. 22	8. 62

See accompanying notes to the financial results. -

C. Notes:

¹ These results have been prepared in accordance with the Ind AS notiied under the Companies (Indian Accounting Standards) Rules 2015, as amended.
² Ministry of Corporate Affairs (MCA) has exempted the companies engaged in defence production from the requirement of Segment Reporting.
³ The unaudited quarterly results of subsidiaiy company viz. BEL Optronic Devices Ltd (100 % shareholding), BEL Thales Systems Ltd (74 % shareholding) are included in consolidated financial results for the quarter ended 30th June 2021. The associate viz. GE BE Pvt. Ltd. has been consolidated under equity method (26 % Shareholding). The consolidated inancial results have been prepared as per Ind AS ¹¹⁰ and Ind AS 28.
⁴ The Board of Directors at their meeting held on 22nd June ²⁰²¹ has recommended ^a inal dividend of 120% (? 1.20 per share of ? 1/- each) for the year 2020-21 in addition to two interim Dividends amounting to 280% (? 2.80 per share of? 1/- each).
⁵ The figures of quarter ended 31st March 2021 are the balancing figures between the audited figures of the full inancial year 31st March ²⁰²¹ and the published figures up to 31st December 2020.
⁶ The Company has considered the possible effects that may result from the pandemic relating to COVID-19 in the preparation of the inancial results including the recoverability of carrying amount of inancial and noninancial assets. In developing the assumptions relating to the possible future uncertainities in the global economic conditions because of pandemic, the company has used its available intenal and extenal sources of information and economic forecasts and expects that the carrying amount of these assets will be recovered. The impact of COVID-19 on the financial results may differ from the estimate as at the date of approval ofthe inancial results.
⁷ As required under clause ³³ of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, the Statutory Auditors have conducted ^a limited review of the above inancial results for the quater and period ended 30th June 2021.
⁸ The above statement of financial results was reviewed by the Audit Committee at the meeting held on 05th August 2021 and approved by the Board of Directors at the meeting held on 06th August 2021.

Place: Bengaluru Date: 06th August, 2021

for and on behalf ofBoard of Directors

Off,ces: Chenna,, Madura,, Co,mbatore, Th,ruvananthapuram, Coonoor, Banga,ore & Koch,

Independent Auditor,s Review report

Review report to the Board of Directors of Bharat Electronics Limited

We have reviewed the accompanying statement of unaudited standalone financial results of Bharat Electronics Limited ("the company") for the quarter ended 30tf June 2021 ("the statement " ),being submitted by the Company's Management pursuant to the requirements of Regulation ³³ of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015 ("the regulation " ) as amended, read with SEBI circular CIR/CFD/CMD1/44/2019 dated 29 " ^h March 2019 and in accordance with the recognition and measurement principles laid down in Indian Accounting Standard ³⁴ "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section ¹³³ ofthe Companies Act, 2013, and other accounting principles generally accepted in India and has been approved by the Board of Directors. Our responsibility is to issue ^a report on these inancial statements based on our review.

We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the inancial statements are free of material misstatement. ^A review is limited primarily to inquiries of company personnel and analytical procedures applied to inancial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

52/4, Basappa Road, Shanthi Nagar, Bangalore-560 027

GSTIN - 29AABFS5023Q1ZR

Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation ³³ of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Suri & Co., Chartered Accountants Firm Registration No:004283S

Harieharan M Partner Membership Number: 240075 UDIN: 21240075AAAAAU1435

Place: Bengaluru Date: 061hAugust 2021

Independent Auditor,s Review Report On consolidated unaudited quarterly and year to date financial results ofthe Company Pursuant to the Regulation ³³ ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To the Board ofDirectors ofBharat Electronics Limited

1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of Bharat Electronics Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), and its share of the net profitater tax and total comprehensive incomeof its associates for the quarter ended 301h June 202land for the period from 01 S* April 2021 to 301h June 2021 ("the Statement"), being submitted by the Parent pursuant to the requirement of Regulation ³³ ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended read with SEBI circular CIR/CFD/CMD1/44/2019 dated 291h March 2019.
1. This Statement, which is the responsibility ofthe Parent,s Management and approved by the Parent,s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard ³⁴ "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section ¹³³ of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express ^a conclusion on the Statement based on our review.
1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor ofthe Entity", issued by the Institute of Chartered Accountants ofIndia. ^A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly do not express an audit opinion.

080-41270545

52/4, Basappa Roa Bangalore

GSTIN - 29AABFS5023Q1ZR

We also performed procedures in accordance with the circular issued by the SEBI under Regulation ³³ (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

1. The Statement includes the results ofthe following entities:
a. BEL Optronics Devices Limited (BELOP) Subsidiary
b. BEL Thales Systems Limited Subsidiary
c. GE BE Private Limited Associate
1. Based on our review conducted and procedures performed as stated in paragraph ³ above and based on the consideration ofthe review reports ofthe other auditors referred to in paragraph ⁶ below, nothing has come to our attention that causes us to believe that the accompanying Statement , prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation ³³ of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
1. We did not review the interim financial results of two subsidiaries included in the consolidated unaudited financial results, whose interim financial results reflect total revenues of Rs.1,745 lakhs, total net profit/(loss) aftertax of Rs.157 lakhs, total comprehensive income of Rs.157 lakhs for the quarter ended ³⁰ , ^h June 2021 as considered in the consolidated unaudited financial results.These interim financial results have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect ofthese subsidiaries is based solely on the reports ofthe other auditors and the procedures performed by us as stated in paragraph ³ above.

Our conclusion on the Statement is not modified in respect ofthe above matters.

The consolidated unaudited financial results also includes the Group ^s share of net profit ater tax of Rs. 1,136 lakhs, total comprehensive income of Rs. 1,137 lakhs for quarter ended ³⁰"f June 2021, as considered in the consolidated unaudited financial results, in respect of one associate, whose interim financial results have not been audited by us. These interim financial

results are unaudited and have been furnished by the Management and our opinion on the statement, in so far as it relates to the amounts and disclosures included in respect of the associate is based solely on such unaudited interim financial results. In our opinion and according to the information and explanations given to us by the Management, these interim financial results are not material to the Group.

Our conclusion on the Statement is not modiied in respect ofthe above matter.

For Suri & Co., Chartered Accountants Firm Registration No:004283S

Harieharan M Partner Membership Number: 240075 UDIN:21240075AAAAAV4545

Place: Bengaluru Date:06'hAugust 2021

PRESS RELEASE

BEL registers ^a turnover of Rs.1564 crore in 1S' Quarter

Navratna Defence PSU Bharat Electronics Limited (BEL) has achieved ^a Turnover of Rs. 1564.34 crore, during the 1S1 quarter of FY 2021-22 against ^a Turnover of Rs. 1639.63 crore recorded in the corresponding period of the previous year.

Profit Before Tax (PBT) during the lS" quarter of FY 2021-22 stood at Rs.15.17 crore against the Profit Before Tax (PBT) of Rs.76.24 crore recorded in the corresponding period of the previous year.

Profit After Tax (PAT) during the 1S1 quarter of FY 2021-22 stood at Rs.11.15 crore against the Profit After Tax (PAT) of Rs.54.13 crore recorded in the corresponding period of the previous year.

The order book position of the company as on 1S[ July, 2021 stood at Rs.54489 crore.

For Bharat Electronics Ltd.

AI assistant

Bharat Electronics Ltd. Interim / Quarterly Report 2021

60828_rns_2021-08-06_4ded5c90-4f3e-4206-9ebb-43fbd1931999.pdf