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The agreement was signed in New Delhi on 24 November 2025 by BEL CMD Manoj Jain and SED executive vice president Alexandre Ziegler, in the presence of senior Defence Ministry officials and Safran leadership.
The joint venture cooperation agreement (JVCA) formalises the intent outlined in an MoU signed during Aero India 2025. The proposed joint venture will be a 50:50 private limited company. It will localise production, supply and maintenance of HAMMER systems for the Indian Air Force and Indian Navy.
The indigenisation level will gradually rise to 60%, covering key electronics, mechanical parts and sub-assemblies. Production transfer will be phased, with BEL handling final assembly, testing and quality assurance. BEL said the partnership will help strengthen India's defence manufacturing ecosystem and support Aatmanirbhar Bharat.
Bharat Electronics (BEL) is a Navratna PSU under the Ministry of Defence, Government of India. It manufactures electronic products and systems for the army, navy, and air force. As on September 2025, the Government of India held 51.14% stake in the company.
Its consolidated net profit jumped 17.87% to Rs 1,287.77 crore on 25.78% rise in revenue from operations to Rs 5,792.09 crore in Q2 FY26 over Q2 FY25.
The consortium of L&T and Bharat Electronics (BEL), which is pursuing India's 5th Generation Fighter Aircraft (AMCA), is announced the onboarding of Dynamatic Technologies (DTL), as an exclusive partner for the programme.
This collaboration will combine DTL's global expertise in complex aerostructures and sub systems manufacture for leading aerospace original equipment manufacturers, with L&T's engineering excellence and BEL's cutting-edge electronics expertise. This synergy brings unique strength to AMCA's development and boosts domestic capabilities in advanced aerospace manufacturing.
A major highlight among the new orders is the indigenously developed Software Defined Radios, jointly designed by BEL and the Defence Research and Development Organisation (DRDO). These state-of-the-art SDRs are fully interoperable with existing and legacy radio systems, ensuring a smooth transition between technologies.
BEL said the cutting-edge SDRs will provide secure, real-time communication and strengthen the Army's operational operational readiness in today’s challenging network-centric battlefields.
Bharat Electronics (BEL) is a Navratna PSU under the Ministry of Defence, Government of India. It manufactures electronic products and systems for the army, navy, and air force.
The company’s standalone net profit surged 24.86% to Rs 969.13 crore on a 5.19% rise in revenue from operations to Rs 4,416.83 crore in Q1 FY26 over Q1 FY25.
The scrip rose 0.66% to Rs 409.95 on the BSE.
Profit before tax stood at Rs 1,727.95 crore in the second quarter of FY26, registering a growth of 19.56% on YoY basis.
Total expenses rose 27.14% YoY to Rs 4,218.06 crore in the September 2025 quarter. The cost of materials consumed stood at Rs 3,014.2 crore (up 24.75%) while employee benefits expenses were at Rs 767.77 crore (up 17.03% YoY) during the period under review.
The company’s order book position stood at Rs 74,453 crore as of 1 October 2025.
On a half yearly basis, the company’s consolidated net profit jumped 19.86% to Rs 2,257.68 crore on 15.63% rise in revenue from operations to Rs 10,231.83 crore in H1 FY26 over H1 FY25.