BDL to sign MoU with T-Hub soon
Bharat Dynamics Limited (BDL), a defence PSU under the Ministry of Defence is soon going to sign MoU with startup engine T-Hub
Hyderabad: Bharat Dynamics Limited (BDL), a defence PSU under the Ministry of Defence is soon going to sign MoU with startup engine T-Hub to utilise services of various starts ups in the area of the company's import substitutes and improvement of its products.
Speaking to reporters here on Tuesday, Commodore Siddharth Mishra (Retd), Chairman and Managing Director, BDL said: "BDL has already signed an MoU with Indian Institute of Technology – Hyderabad (IITH) and is currently working on projects on artificial intelligence (AI) that will assist the PSU enhance their defence services."
"BDL currently has orders worth Rs 8,084 crore and is hoping to have an order book of Rs 25,000 crore in five years," Mishra said, adding "The company will focus on optimisation of existing production lines, increasing export and indigenisation, co-development with design agencies for new projects, offset projects and upgradation through innovation of its products."
BDL is now developing third generation missiles and also looking at fourth and fifth generation ones in collaboration with other Original Equipment Manufacturers (OEMs).
The current orders are to be executed by 2023-24. It is expecting orders worth another Rs 8,000 crore in two years and of around Rs 25,000 crore in five years, he explained.
BDL is also manufacturing the seeker (own guidance in the form of seeker) based multirole Air Defence Missile, the MRSAM (Medium Range Surface to Air Missile) which is being jointly developed by DRDO and IAI, Israel, he said.
"We have created our own research and development unit and have come to certain level of development of our own missile (anti-Tank Missile) 'Amogha -3' which we are planning to field by next year," he said.
BDL Director (Finance) S Piramanayagam, said in 2018-19 the company posted a turnover of Rs 3069 crore. "In 2018-19 there was a de-growth compared to previous year (2017-18) wherein we have done Rs 4,586 crore.
It is because of some technological issues and order book has been completed at a faster rate than incoming orders.
And from this year onwards there will be growth in our turnover and that's what we are planning", Piramanayagam said. The company has planned a capex of Rs 90 crore next year.