Bharat Dynamics expects Rs 12,000 crore worth of orders in FY22, Siddharth Mishra, chairman and managing director, told CNBC-TV18.

The company, manufacturers of ammunitions and missile systems, has won a new Rs 500 crore order to manufacture and supply Akash missiles to the Indian Air Force (IAF).

“In FY22, I am expecting an orderbook of Rs 12,000 crore and by FY23, we are expecting more than Rs 15,000 crore. The new order of Rs 500 crore was expected late last year and right now, orderbook level is at Rs 8,600 crore out of which, we received Rs 2,800 crore last year. Therefore, this is the first order we have got this year and apart from this, we are expecting a few emergency orders and I am hopeful that we will be able to execute a major portion this year,” said Mishra.

On FDI, he said, “We are looking at foreign direct investment (FDI) from a company called Roxel. We are in negotiations with them and most of our contracts are getting finalised. This will be for manufacturing of rocket motives in India.”