Analysis of Financial Statements

ANALYSIS OF FINANCIAL STATEMENTS OF BHARAT ELECTRONICS LIMITED

1. Company Profile Bharat Electronics Limited, a Defence PSU, is a multi product, multi unit, multi Technology Company and was incorporated in the year 1954.The products manufactured by the BEL are mainly categorized as defence and non-defence products. The defence products include Military Communications, Land Based Radars, Naval Systems, Opto-Electronics, Tank Electronics, Electronic Warfare and Simulators. The non-defence products are in the area of Telecommunications, Sound Vision Broadcasting, Solar Photovoltaic systems, Electronic Components and Niche Products like Alarm System for unmanned level crossing, Vessel Identification system, GPS based Vehicle Tracking system, Electronic Voting machine, Integrated Fish Finder and Navigation Guidance System and Digital Set Top Boxes etc.BEL also offers end-to-end system solutions such as Police Communication Network, GPS Based Vehicle Tracking and Monitoring System, Satcom Network, TV Broadcast Network, Tele-medicine system and Coastal Surveillance system on a turnkeybasis. BEL also provides tailor-made solutions such as Design and Manufacturing Services, Semiconductor Device Packaging, Software Development and Quality Assurance Facilities to its customers. The registered office of BEL is at Bangalore. Its plants are located in different parts of Karnataka, Andhra Pradesh, Tamilnadu, Maharashtra, Haryana and Uttar Pradesh. BEL has entered into two joint ventures with General Electric Medical Systems, USA for X-ray tubes and Multitone, UK for paging systems. It has a subsidiary company BEL Optronic Devices limited for the manufacture of Image Intensifier tubes.

2. In this financial analysis an attempt has been made to analyse Bharat Electronics Limited, a Defence PSU based upon the the Time Series Analysis evaluating the company performance over the last five years (2005-2009) as per the appendices A to C attached, to make an assessment of...