Bharat Electronics Ltd. expects to continue delivering a robust performance for the second of the year backed by an order book of more than Rs 7,000 crore, Chairman and Managing Director MV Gowtama told BloombergQuint.
The company had earlier set an annual order book guidance of Rs 13,000 crore, which it still expects to meet.
Sales for the state-owned aerospace and defence company jumped 45 percent year-on-year to Rs 2,476 crore in the second quarter on account of deliveries of weapon radar systems, L-70 guns, thermal and night vision equipment for the Indian Army, Gowtama said.
He expects to clock a growth rate of around 15 percent in the remaining two quarters of 2017-18.
The first two quarters of the year saw an order book worth Rs 5,600 crore. The coming quarters should be equally robust, as the company ensures that “goods and services are spread all through the year instead of getting packed in the last quarter,” he said.
The planned growth, however, does not come without challenges. Some of the bigger projects have been delayed and are still in the negotiation phase, he said.
Here's the entire conversation with MV Gowtama:
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