Hyderabad-headquartered Meslova designs, develops and delivers domain-specific merchandise and purposes utilizing artificial intelligence to among the largest governments and enterprises.
This MoU goals at leveraging the complementary strengths and capabilities of BEL and Meslova, a press release mentioned. It will allow the 2 firms to develop and deploy varied merchandise and services for AD methods/platforms of the Armed Forces, whereby AI&ML is embedded and built-in as a part of the merchandise.
BEL and Meslova would collectively develop, construct, combine and deploy embedded merchandise, options and methods utilizing AI&ML applied sciences for use in AD methods/platforms for home and export markets, an official assertion mentioned. BEL CMD Dinesh Kumar Batra and Meslova Systems CEO Okay Satyaprasad exchanged the MoU signed between BEL and Meslova on the Defexpo 2022.
Meanwhile, Bharat Electronics (BEL) has posted a revenue after tax at Rs 611.05 crore for the quarter ended September 30, in opposition to Rs 612.60 crore in the year-ago interval.
During the reviewed quarter, the Bengaluru-headquartered BEL mentioned it achieved a turnover of Rs 3,896.20 crore, in opposition to Rs 3,622.42 crore recorded in the corresponding interval of the earlier yr.
The defence agency’s revenue earlier than tax (PBT) through the first half of the monetary yr 2022-23 (FY2022-23) stood at Rs 1,402.96 crore, with a 66.44 per cent development over the PBT of Rs 842.91 crore in the year-ago interval.
Profit After Tax (PAT) through the first half of FY2022-23 stood at Rs 1,042.54 crore, with a 67.14 per cent development PAT of Rs 623.75 crore recorded in the corresponding interval of the earlier yr. The firm mentioned its order e-book place at September-end stood at Rs 52,975 crore, greater than 4 occasions its annualised gross sales revenues.
During the quarter, BEL issued bonus shares in the ratio of two:1 i.e. 2 shares for each 1 share of BEL held cum bonus.
Last week, the defence agency signed an settlement with Triton Electric Vehicle (TEV), for the manufacture of hydrogen gasoline cells by BEL with know-how switch from TEV, to fulfill the necessities of the Indian market and mutually-agreed export markets, an organization assertion mentioned.
The firm mentioned the settlement goals at tapping the demand for clear vitality options for varied purposes together with for e-mobility, by leveraging the federal government’s thrust for adopting clear vitality fuels for purposes in transport, vitality storage and so forth.
The shares of Bharat Electronics have been buying and selling at Rs 104.65 a chunk on Friday midday on BSE.