MISSILE SYSTEMS SBU

Dear Colleagues,

It gives me immense pleasure to announce that Missile Systems SBU has achieved a remarkable turnover of
₹1050 cr (provisional) for the financial year 2020-2021. On this occasion I congratulate each and every one of you
who have put in best efforts towards helping the SBU to achieve this milestone.

The year 2020-21 has been a year of challenges. The year began with the COVID-19 pandemic which had a great
impact on business across the globe. At this challenging time, BEL received the order for manufacture and supply of
30000 ICU Ventilators and the mammoth task of manufacture of 30000 nos of Compressors for ICU Ventilators was
shouldered by MS SBU. Despite the challenges posed by the pandemic and in the midst of the lockdown imposed by
the Government, Missile Systems SBU was resilient and with the support of all our employees, trainees and contract
workmen, the SBU rose to the occasion to manufacture and supply Medical Compressors within a short span of time.

We have been successful in delivering the major elements for 1st Squadron of AMS during the financial year which
has been a major contributor towards the SBU’s turnover. The first Combat Management System (CMS) under the
MRSAM program for IAF was flagged off during the year we have successfully delivered 3 systems. The Command
Post (CP) for MRSAM first system was supplied during the year.

The Phase – I go-live of the K-FON project has been another major highlight wherein the Chief Minister of Kerala
inaugurated the project on 15th Feb 2021.

The firing trials conducted for Akash New Generation, QRSAM, Akash and indigenous ASTRA Seeker were
successful and received great appreciation from all stakeholders.

MS SBU has been successful in meeting on-time delivery during the year most of its supplies. The revenue from new
products amounts to ₹ 100 crs. The SBU has also contributed ₹100 crs towards cost reduction.

Further MS SBU has earned many accolades to its credit with our employees completing 24 Six Sigma projects, 110
suggestions and 21 QCC Presentations. We have been successfully awarded the patent for ‘Methods of Fabrication of
thin film heat sink’ during the year. During the recently conducted Surveillance Audit for QMS the SBU was
re-certified for AS9100-Rev D standards.

Further, MS SBU has forayed into the field of ammunitions with the receipt of the order for Long Range Glide Bomb
(LRGB) and three types of Arms and Ammunitions under Make-II category. The other notable orders include
sub-systems for MRSAM and VLSRSAM. Thus the SBU has an order book of around ₹400 Crs towards new business.
With these orders and with the current orders on hand Missile Systems SBU is confident of achieving a turnover of
₹2000 + crs during the next financial year.

I thank all our stakeholders - Employees, contract workmen, trainees, Negotiating Trade Unions, Sister Units and SBUs
of BEL, Suppliers, MSQAA, PMG-IAF, Consortium partners of K-FON, Partners of Akash whose support has been
paramount in enabling us achieve this remarkable turnover.

I am proud and inspired by the way the employees of our SBU have risen to the challenges – with flexibility, resilience,
courage and responsibility which has enabled us to achieve this turnover. Thank you for your enormous contributions.
I express my gratitude to all your family members who have extended their support. I look forward to your continued
support and as we work more closely together I hope that the spirit of continuous improvement and commitment to
operational excellence will go a long way in furthering the growth of our Company.

Date: 1st April 2021 General Manager (MS)