New Delhi 10 October 2018: Central Electronics Limited (CEL) has made profit for fifth year in succession. The Company declared its financial results for the year 2017-18 ,at its 44th AGM recently . The company has , for the first time in its history, fully wiped out its accumulated losses. The Company achieved a turn over of Rs. 221 Crores and made a net profit of Rs. 21 Crores despite having borne additional expense of Rs. 15.5 Crores on account of revision in Gratuity ceiling and Rs. 4.5 Crores toward wage revision . The company has also paid off overdue government loans to the tune of Rs. 19 Crores in the last two years as well as wage arrears of 1997 wage revision.
Mr. Manoj Sharma, PRO said that the company presently has an order booking of almost Rs. 800 Crores and is expected to double its turnover in the current year. CEL has signed a ToT agreement with DRDO-DMRL (Defence Material Research Laboratory) for manufacturing of “Fused Silica based Seeker Missile Radome”. The Radome is a critical component for manufacture of missiles which is presently being imported at high cost. This agreement will result in major saving in foreign exchange and give a fillip to manufacturing in this area.
CEL is a PSU under the Department of Scientific & Industrial Research, Ministry of Science & Technology and has pioneered Solar Photovoltaics in the country. After manufacturing India’s First solar cell in 1977 CEL went on to manufacture the country’s first solar panel in 1978. CEL holds the distinction of supplying, installing and commissioning India’s first solar power plant in 1992 . CEL today has 1.3 MW of Solar Power Plants on its campus with almost 40% of its total energy consumption coming from solar energy.