Synopsis
The Ministry of Defence has inked a significant Rs 642 crore contract with Bharat Electronics Limited for acquiring 28 EON-51 systems aimed at enhancing the capabilities of the Indian Navy.Key Takeaways
- Contract value: Rs 642 crore
- 28 EON-51 systems for Indian Navy
- Job creation over 3 years
- Support for Indian MSMEs
- Significant growth in BEL's orders
New Delhi, Feb 8 (NationPress) The Ministry of Defence has officially entered into a Rs 642 crore agreement with the state-owned Bharat Electronics Limited (BEL) in Delhi for the acquisition of 28 EON-51 systems intended for the Indian Navy.
The EON-51 is an advanced Electro Optical Fire Control System designed to facilitate the search, detection, and classification of targets utilizing Electro Optical and Thermal Imager technologies.
This initiative is expected to create job opportunities over a span of three years and foster active involvement from various Indian industries, including MSMEs, thereby making a significant contribution to the government's goal of achieving 'Aatmanirbharta' in defense, as stated by the ministry.
The acquisition of the 28 EON-51 systems will support 11 New Generation Offshore Patrol Vessels and three Cadet Training Ships for the Indian Navy, with a total expenditure of Rs 642.17 crore, inclusive of taxes, under the Buy (Indian-IDDM) category.
Recently, the Navratna Defence Public Sector Undertaking, BEL, secured additional contracts valued at Rs 531 crore within the past two weeks.
Among the significant contracts are the advanced Composite Communication System for ships, communication devices, medical electronics, electro-optics, active radar homing heads for missiles, classroom jammers, spare parts, and various services.
With these recent orders, BEL has now amassed a total of Rs 10,893 crore in orders for the current financial year.
BEL had also disclosed additional orders worth Rs 973 crore since their last announcement on December 23, enhancing their portfolio at the close of the year.
Major contracts encompass Platform Screen Doors for metro rail, radars, communication devices, jammers, seekers, upgraded submarine sonar, enhanced satcom terminals, testing stations, spare parts, and various services.
These contracts have elevated BEL's order book to Rs 9,801 crore for the ongoing financial year.
BEL reported a remarkable growth of 47.3 percent in net profit for the third quarter ending December 2024, reaching Rs 1,316.06 crore, compared to Rs 893.30 crore in the same quarter of the previous year.
Profit before tax for the third quarter of 2023-24 amounted to Rs 1,754.15 crore, indicating a year-on-year growth of 49.64 percent.
