homebusiness Newscompanies NewsBharat Dynamics increases R&D expenses, production for Aero Show orders to start next fiscal
Bharat Dynamics increases R&D expenses, production for Aero Show orders to start next fiscal
Bharat Dynamics signed MoUs with notable global and domestic names in the industry, including Al Tariq, Thales, IIT Madras, and Tamil Nadu Industrial Development Corporation (TIDCO), among others.
Aerospace and defence major Bharat Dynamics, which specialises in the manufacture of missiles and missile systems, announced in the recently concluded Aero Show 2023 signing three new orders, production for which will start in the next financial year.
In an exclusive interview with CNBC-TV18, Siddharth Mishra, CMD of Bharat Dynamics, pointed out an increase in R&D (research and development) expenses. According to Mishra, the company's R&D expenses have gone up to Rs 100 crore compared to Rs 30 crore earlier.
This increase in investment can be read as Bharat Dynamics opting for innovation and developing better technologies to strengthen India's defence capabilities.
In addition to the increased R&D expenses, at the Aero India 2023 airshow held last week in Bengaluru, Bharat Dynamics entered into ten Memorandums of Understanding (MoU) with multiple Indian as well as foreign companies, while showcasing its largest-ever display of products.
Bharat Dynamics signed MoUs with notable global and domestic names in the industry, including Al Tariq, Thales, IIT Madras, and Tamil Nadu Industrial Development Corporation (TIDCO), among others.
“There are three major MoUs. Next to next year, we will start manufacturing these in India as well as we will get orders. the manufacturing will be in India for the world,” said Mishra.
Bharat Dynamics' current order book is at Rs 13,900 crore.
Moreover, the company has export orders worth $320 million, which further strengthens its position as a global player in the defence industry.
“Total order book number is Rs 13,900 crore and out of this $320 million is export orders,” he said.
The stock was up 3.23 percent in the last week and 1.67 percent in the past month.
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