Central Electronics Limited: From Near-Sale to Strategic Success
Central Electronics Limited (CEL), almost sold by the government in 2021, was commended by Minister Jitendra Singh for its significant turnaround and strategic contributions, especially to Operation Sindoor. Initially set for disinvestment, CEL's fortunes were reversed under CMD Chetan Prakash Jain, demonstrating notable progress in solar photovoltaic and defense technologies.
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In a remarkable turnaround story, Central Electronics Limited (CEL), a public sector unit almost sold off in 2021, received high praise from Science and Technology Minister Jitendra Singh. He highlighted the company's significant progress, especially its contributions to the military's Operation Sindoor.
The planned disinvestment of CEL to Nandal Finance and Leasing for Rs 210 crore was halted in 2022, reversing what could have been a major shift in its ownership. Minister Singh lauded CEL's Chairman and Managing Director, Chetan Prakash Jain, for steering the company back to profitability within two years.
During the Council of Scientific and Industrial Research's 84th Foundation Day, Minister Singh noted CEL's pivotal role in technology advancements, particularly its supply of missile sensors for the armed forces. Singh emphasized that technology sovereignty is crucial for geopolitical sovereignty, with CEL embodying this principle through its innovative defense and solar photovoltaic projects.
(With inputs from agencies.)
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