Hot Pursuit     20-Jun-24
Bharat Electronics appoints Manoj Jain as chairman & MD
The aerospace & defense firm annouced that its board has appointed Manoj Jain as chairman and managing director of the company with effect from 20 June 2024.

In an exchange filing, the company said, “Ministry of Defence, Government of India vide its letter dated 19 June 2024, appointed Manoj Jain, director (R&D) as chairman and managing director on the board of Bharat Electronics.”

Jain was director (R&D) since 26 September 2022 and was also assigned with additional charge of Director (Bangalore Complex) from 1 August 2023. He was also assigned additional charge of director (HR) from 1 November 2022 to 31 May 2023. He was general manager of the Electronic Warfare & Avionics SBU at BEL's Bangalore Complex prior to his elevation as director (R&D).

He joined BEL in August 1991 as Probationary Engineer after completing his BE (Electronics) from REC Jaipur (MNIT) with Gold medal. In an illustrious career spanning over three decades, he has made significant contributions to the field of Research & Development, said the company.

Navratna PSU BEL is a multi-product, multi-technology, multi-Unit conglomerate which designs, manufactures and supplies products and systems in a wide variety of fields including radars, missile systems, military communications, naval systems, electronic warfare & avionics, C4I systems, electro optics, tank electronics & gun/weapon system upgrades, and electronic fuzes in the defence segment. As on 31 March 2024, the Government of India held 51.14% stake in the company.

The company reported 30.04% growth in consolidated net profit to Rs 1,797.11 crore in Q4 FY24 as against Rs 1,382.02 crore in Q4 FY23. Revenue from operations jumped 32.18% year on year (YoY) to Rs 8,564.08 crore in the quarter ended 31 March 2024.

The scrip rose 0.63% to currently trade at Rs 311.25 on the BSE.

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