Chairman of Bharat Electronics: The aerospace and defense company announced that Manoj Jain has been named by its board as the company’s chairman and managing director, effective June 20, 2024.
The company stated in an exchange filing that Manoj Jain, director of R&D, has been appointed as chairman and managing director of the board of Bharat Electronics by the Ministry of Defence, Government of India, through a letter dated June 19, 2024.
Director (R&D) Jain has held this position since September 26, 2022. On August 1, 2023, he was given the additional responsibility of Director (Bangalore Complex). According to Business Standard, he was given the additional responsibility of director (HR) from November 1, 2022, to May 31, 2023.
Before being promoted to director (R&D), he was general manager of the Electronic Warfare & Avionics SBU at BEL’s Bangalore Complex.
Defence stocks, including Bharat Dynamics, HAL, and others, experienced a drop of 6%
Having graduated with a gold medal from REC Jaipur (MNIT) with a BE (Electronics), he joined BEL in August 1991 as a probationary engineer. The company claimed that during his distinguished career, which spanned more than three decades, he made significant contributions to the field of research and development.
PSU Navratna Designed, manufactured, and supplied in a wide range 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 defense segment, BEL is a multi-product, multi-technology, multi-unit conglomerate. The Government of India owned 51.14% of the business as of March 31, 2024.
Comparing Q4 FY24 to Q4 FY23, the company’s consolidated net profit increased by 30.04% to Rs 1,797.11 crore. For the quarter that ended on March 31, 2024, revenue from operations increased 32.18% YoY to Rs 8,564.08 crore.
The share price on the BSE increased by 0.63% to Rs 311.25.
