New Delhi, June 6 (IANS) In line with the government’s vision for self-reliance, navratna defence PSU Bharat Electronics Limited (BEL) on Friday announced a collaboration with Tata Electronics towards the development of indigenous electronics and semiconductor solutions.
The memorandum of understanding (MoU) is a significant step forward for BEL and Tata Electronics in jointly exploring end-to-end solutions to meet domestic requirements., BEL said in a stock exchange filing.
BEL and Tata Electronics will explore end-to-end collaboration in areas such as semiconductor fabrication (Fab), Outsourced Semiconductor Assembly and Test (OSAT), and design services.
The goal is to meet BEL’s present and future needs for advanced components, including Microcontrollers (MCUs), Systems-on-Chip (SoCs), Monolithic Microwave Integrated Circuits (MMICs), and other processors.
The MoU was signed by Manoj Jain, Chairman and Managing Director, BEL, and Randhir Thakur, CEO and Managing Director, Tata Electronics, at Bombay House, Tata Group’s headquarters in Mumbai.
Both companies will also endeavour to develop optimum manufacturing solutions for BEL’s products through knowledge sharing, best practices and other resources.
Tata Electronics is a prominent global player in the electronics manufacturing industry with fast-emerging capabilities in Electronics Manufacturing Services, Semiconductor Assembly and Test, Semiconductor Foundry, and Design Services.
Meanwhile, BEL reported an 18 per cent growth in net profit to Rs 2,127 crore for the January-March quarter of financial year 2024-25 compared with the corresponding figure of Rs 1,797 crore in the same period of the previous year.
The company’s revenue from operations came in at Rs 9,150 crore, which was a 7 per cent increase over the Rs 8,564 crore reported in the same period of the previous financial year.
BEL’s board of directors have recommended a final dividend of Rs 0.90 per equity share for the financial year 2024-25.
In April, the defence PSU signed a contract with the Indian Air Force valued at Rs 593.22 crore for providing maintenance services for the Akash Missile System to kick off the new financial year 2025-26.
–IANS
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