Bharat Electronics Limited's Board of Directors has approved a significant Joint Venture Agreement with M/s. Safran Electronics and Defence (SED), France for Project HAMMER during their meeting held on February 15, 2026. The operationalisation of the joint venture agreement provisions remains subject to regulatory and administrative approvals from both countries.

Joint Venture Structure and Purpose

The partnership will establish a Private Limited Company under the Companies Act, 2013, with the registered office and principal place of business located in Pune or any other mutually agreed location. The new entity will operate a "Center of Excellence" to function as a Technology cum Teaming Partner for the manufacturing, supply, maintenance and repair of the Guidance Kit (GK) of HAMMER Weapon System.

Financial and Governance Framework

The joint venture will follow a balanced partnership approach with equal participation from both entities. The initial capital structure has been designed to accommodate future expansion based on operational requirements.

Regulatory Compliance and Disclosures

The company has confirmed that the transaction does not fall within related party transactions and that the partnering entities are not related to promoter, promoter group, or group companies in any manner. The joint venture represents a strategic collaboration between the Indian defense manufacturer and the French aerospace and defense company.

The agreement establishes a framework for technology transfer and manufacturing capabilities specifically focused on the HAMMER weapon system's guidance components. While the Indian Air Force and Indian Navy are identified as primary end users, the agreement allows for inclusion of other end users in India through mutual consent.

Strategic Implications

This joint venture represents a significant step in defense manufacturing collaboration between India and France. The Center of Excellence model will enable technology sharing and local manufacturing capabilities for advanced weapon systems, aligning with India's defense manufacturing objectives.

The 50:50 partnership structure ensures balanced control and decision-making between both entities, while the scalable capital structure provides flexibility for future expansion based on project requirements and market opportunities.

Bharat Electronics Limited (BEL) has officially announced the receipt of additional orders worth ₹581 crore through a press release filed under Regulation 30 of SEBI (LODR) Regulations, 2015. The Navratna Defense Public Sector Undertaking disclosed that these orders were secured since its last disclosure on January 23, 2026.

Order Categories and Components

The substantial order book addition encompasses a diverse range of defense electronics products and services. The major orders received include communication equipment, radar warning receivers, tank sub-systems, radar systems, software solutions, upgrades, spare parts, and various services.

Product Portfolio Expansion

The diversified nature of the orders demonstrates BEL's comprehensive capabilities across multiple defense technology domains. The inclusion of communication equipment and radar warning receivers highlights the company's strength in critical defense communication systems, while tank sub-systems orders reflect its involvement in armored vehicle electronics.

Regulatory Compliance and Transparency

BEL's announcement through the official press release demonstrates the company's commitment to regulatory compliance and transparency with stakeholders. The disclosure was made pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, ensuring timely communication of material developments to investors and the market.

Strategic Business Impact

This additional order win of ₹581 crore further strengthens BEL's position as a leading defense electronics manufacturer in India. The diverse range of products covered in these orders showcases the company's technological capabilities and its ability to serve multiple segments within the defense sector simultaneously.

The orders received since the last disclosure indicate sustained demand for BEL's products and services, reflecting the company's strong market position and the ongoing modernization requirements of India's defense forces.