Reorganisation of OFB units into defence PSUs delivered remarkable results: Centre

New Delhi, Sep 5 (PTI) Since October 2021, when 41 Ordnance Factory Board (OFB) units were reorganised into seven defence PSUs, the corporatisation reform has delivered "remarkable results", with a net profit of Rs 1,625 crore in financial year 2024-25, the office of the defence minister said on Friday.

In a post on X, the Raksha Mantri Office (RMO) also shared a chart showing the growth trajectory.

Since October 2021, when 41 OFB units were reorganised into seven Defence PSUs, the "corporatisation reform has delivered remarkable results," it said.

"From a loss of Rs 2,844 crore in 2019-20 to a net profit of Rs 1,625 crore in FY25, setting new benchmarks in defence manufacturing," the RMO posted.

In a major reform initiative, the government in 2021 had approved a proposal to restructure the nearly 200-year-old OFB that operated 41 ammunition and defence equipment production facilities into seven separate corporate entities to improve its accountability, efficiency and competitiveness. PTI KND OZ OZ