Navratna Defence PSU, Bharat Electronics Limited (BEL), announced the appointment of Damodar S Bhattad as Director (Finance) on the company’s Board, with effect from January 11, 2023.
Damodar Bhattad was working as General Manager (Finance) at BEL’s Corporate Office prior to his elevation. He is a Chartered Accountant, who had secured All India Rank in ICAI final examination. A B.Com Graduate from the University of Madras, he joined BEL as Accounts Officer at its Chennai Unit in 1988 and in a career spanning over 34 years, served the company in various roles and capacities.
As Head of Finance at BEL Corporate Office, he played a significant role in the formulation of various company policies and procedures. He also played a pivotal role in BEL recording its highest ever turnover of Rs. 15,044 Cr in FY22 and achieving an order book of more than Rs. 50,000 Cr, the statement said.
As Head of Funds, he efficiently managed Working Capital and ensured BEL remained debt free. He and his team played a key role in the efficient collection of Trade Receivables, in the last two years (FY 2021 and 2022). He also initiated investment of surplus funds in Mutual Funds, which increased the company’s returns from Treasury Management, according to the statement.
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