MoU signed between Department of Defence Production And BEML

Wednesday, July 5, 2017

New Delhi: Bharat Earth Movers Limited (BEML), a Miniratna schedule ‘A’ Central Public Sector Enterprise under the Department of Defence Production, Ministry of Defence signed a Memorandum of Understanding (MoU) for the financial year 2017-18 with the Ministry, here today.

The annual MoU was signed between Secretary (Defence Production) Shri Ashok Kumar Gupta on behalf of the Ministry of Defence and CMD of BEML Shri D K Hota. The MoU outlines targets on various performance parameters for the company during the year. The revenue from operations has been targeted at ₹ 3,000 crore, which is 16 per cent increase over the previous year. The MoU has allotted a total weightage of 50 per cent for measuring financial performances while remaining 50 per cent weightage has been allotted to sector specific parameters such as CAPEX, indigenisation, client order servicing and HRM parameters.