homebusiness Newscompanies NewsBharat Dynamics wins orders for Akash Weapons Systems, Helicopters worth Rs 8,422 crore
Bharat Dynamics wins orders for Akash Weapons Systems, Helicopters worth Rs 8,422 crore
With these contracts, the total orderbook for Bharat Dynamics has crossed Rs 24,000 crore.
Defence PSU Bharat Dynamics won orders worth over Rs 8,400 crore on Wednesday from the Indian Army.
The company signed a contract worth Rs 8,161 crore for production and supply of Akash Weapon System to two regiments of the Indian Army. This order is to be executed over a period of three years.
Additionally, the company has also won an order worth Rs 261 crore for Counter Measures Dispensing System (CMDS) for MLH Helicopters. CMDS is an airborne defensive system providing self-protection to the aircraft against radar guided and IR seeking missiles by dispensing chaffs and flares.
With these contracts, the total orderbook for Bharat Dynamics has crossed Rs 24,000 crore.
The Union defence ministry on Thursday signed contracts with Indian shipyards for the acquisition of 11 next-generation offshore patrol vessels and six next-generation missile vessels at an overall cost of Rs 19,600 crore.
In addition to the domestic market, the Akash Weapon System is also being offered to friendly foreign countries. The company has received several orders in the current financial year for supply of various systems, including the Astra MK-I Air to Air Missile and associated equipment for the Air Force and Indian Navy.
Bharat Dynamics has also signed an MoU with several foreign OEMs based out of France, Belgium and the UAE for various products and systems.
In an exclusive conversation with CNBC-TV18 after the Aero Show 2023 last month, CMD Siddharth Mishra pointed to an increase in Research & Development (R&D) expenses. According to him, the company's R&D expenses have gone up to Rs 100 crore compared to Rs 30 crore earlier.
Mishra also said that the company has export orders worth $320 million, which further strengthens its position as a global player in the defence industry.
Shares of Bharat Dynamics have turned positive for the year, and are trading at Rs 955.
First Published: Mar 31, 2023 8:10 AM IST
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