BEL lost ₹2,200 cr. turnover in FY’22 on chip shortage, supply-chain issues: CMD
The Hindu
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Bharat Electronics Ltd. said it incurred business losses to the tune of ₹2,200 crore during fiscal 2021-22 following chip shortages and disruptions in the global supply chain.
Addressing the media here on Wednesday, BEL CMD Anandi Ramalingam said the company would have recorded an additional turnover of ₹2,200 crore had the supply-side environment been better in the March-ended fiscal.
“We expected a growth of 10-15% but due to a global chip shortage, pandemic and the geopolitical situation affecting logistics, we lost some business that would have otherwise come to us as additional turnover,’‘ she elaborated
BEL has posted a turnover of ₹15,044 crore in the fiscal against ₹13,818 crore in the year-earlier period, marking a 9% growth.
During the fiscal, the PSU posted a net profit of ₹2,349 crore against ₹2,065 crore. However, the company’s exports have drastically dropped to $33.30 million from $51.93 million.
During FY’22, the company’s order book stood at ₹57,570 crore as against ₹53,434 crore.
Ms. Ramalingam said the company has set a target to collect orders worth ₹20,000 crore every year. It also has the mandate to get to a 20% growth range in the coming years while in the current fiscal it would grow 15%, she added.
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