Private Sector

Govt’s ‘Aatmanirbhar Bharat’ plan propelling defence industry, says BEL

By CNBC

The BEL management sounded very confident at their annual analyst meet recently. They are betting on double digit growth over the next decade and they see huge opportunities in defence and non-defence segments. MV Gowtama, CMD, BEL discussed this.

“The ‘Aatmanirbhar Bharat’ plan of government of India is propelling a big boost in the Indian defence industry,” he said in an interview with CNBC-TV18. “We are quite optimistic,” he added.

“This gives a great opportunity for the Indian defence to plan for much bigger role and also plan for big expansion,” he said. The company has got orders of Rs 5,000 crore in the first half of this year.

“We are in a very advanced stage of negotiation for another Rs 8,000-9,000 crore. We are confident that this year also, we will acquire orders in excess of Rs 13,000-15,000 crore,” he said.

BEL is expecting double digit growth in next two-three years in terms of topline. “We also expect to maintain the EBITDA margin around 20 percent,” he added.

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