Govt-owned Central Electronics Limited (CEL), once slated for sale in 2021, has turned profitable within two years.
Disinvestment plan to sell CEL to Nandal Finance for ₹210 crore was terminated in Sept 2022 after employee union opposition.
Science & Tech Minister Jitendra Singh praised CEL’s role in Operation Sindoor, supplying missile sensors to the armed forces.
CEL CMD Chetan Prakash Jain credited for leading the company’s turnaround.
Years After Disinvestment Bid, Jitendra Singh Lauds CEL for Role in Operation Sindoor
Singh complimented CEL Chairman and Managing Director Chetan Prakash Jain for the turnaround in the fortunes of the state-owned company
Science & Tech Minister Jitendra Singh
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A public sector unit that the government almost sold off three years ago was praised on Friday by Science and Technology Minister Jitendra Singh for the turnaround in its fortunes and the contribution it made for the success of Operation Sindoor.
The sale of Central Electronics Limited, a mini-ratna enterprise under the Department of Scientific and Industrial Research, was announced in 2021 to Nandal Finance and Leasing Private Limited for ₹210 crore. The decision was terminated in September 2022.
"CEL was almost disinvested... somehow we managed to put that decision on hold. I must compliment him, it has come up very beautifully and they have become profit making within two years," Singh said addressing the 84th Foundation Day celebrations of the Council of Scientific and Industrial Research.
Singh complimented CEL Chairman and Managing Director Chetan Prakash Jain for the turnaround in the fortunes of the state-owned company.
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"You will be glad to know that it has also made a certain amount of contribution to Operation Sindoor by providing them (armed forces) with the sensors for missiles that were used," he said.
Singh said the CEL CMD was upset when the decision on the disinvestment of the company was taken.
He said the Departments of Space and Atomic Energy played the most critical role in the success of Operation Sindoor and singled out the Akashteer Air Defence System for praise.
"Even those who designed Akashteer didn't know it would prove to be so efficient. The problem here is we don't have the means to test it. Incidentally, Pakistan provided you an opportunity to test it on their soil," he said.
According to Singh, technology sovereignty will determine geopolitical sovereignty in the times to come.
The employees' union of CEL had moved court against the sale of the company to a little-known firm amid allegations of under valuation.
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Incorporated in 1974, CEL is a pioneer in the field of solar photovoltaic and axle counter systems used in railway signalling systems.
CEL has also developed critical components for strategic applications for the armed forces.
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