Strong order book but sustained execution key to growth... During FY20, BEL bagged significant orders like Akash Missile system (7 squadron), coastal surveillance system, upgrade of electronic warfare (EW) system, smart city business, etc. The company continues to have a strong order book and order inflows. Q4FY20 order inflows were at | 2867 crore while FY20 order inflows were at | 13200 crore. Order book as on FY20 was at a robust | 51970 crore. However, order inflows in FY21E may get impacted owing to an expected cut in defence budget amid economic...