Plan to spend Rs 3K cr on modernization, capacity expnasion: BEL

Bharat Electronics Limited (BEL) is focusing on modernization and capacity expansion, said SK Sharma, Chairman & Managing Director (CMD) of the company adding that the company’s plans to spend Rs 3,000 crore for same. The current capital expenditure for the year is Rs 500 crore, he added. Speaking from sideline of Defence Expo 2016, Sharma said that the company has been participating in major defence programmes currently. Sharma expects a revenue growth of 15 percent after three years on back of defence programmes. The company’s current revenue from defence orders stands at 85 percent.BEL is aiming for an 8-10 percent revenue growth for defence in next two to three years. The company’s annual turnover is Rs 7,000 crore. Watch video for more