- Bharat Dynamics Limited has signed a contract with Ministry of Defence for supply of Air to Air Missile ASTRA MK-I
- BDL is the lead production agency for India’s Integrated Guided Missile Development Program
- Bharat Dynamics had previously declared a strong financial performance for the financial year 2021-22.
- BDL has entered into a number of major technology agreements for creating best in class weapons
Bharat Dynamics Limited has signed a contract with Ministry of Defence. Contract is worth Rs 2971 Crore and it relates to supply of Air to Air Missile and associates equipment’s to Indian Air Force & Indian Navy. ASTRA MK-I Beyond Visual Range (BVR) is the equipment to be supplied under the contract. Bharat Dynamics has made disclosure under Regulation 30 of SEBI (LODR) Regulations.
Order is indigenous procurement and will cut country’s dependence on import from other nations.
BDL is the lead production agency for India’s Integrated Guided Missile Development Program (IGMDP). BDL manufactures the Akash missile for both the Indian Army and the Indian Air Force as part of the IGMDP. Torpedoes, Anti-Tank Guided Missiles (ATG M), and Allied Defence Equipment are also produced.
Bharat Dynamics had previously declared a strong financial performance for the financial year 2021-22. Profit after tax increased by 94%, according to the company (PAT). For the fiscal year ended March 31, 2022, the PAT was Rs 500 crore, up from Rs 258 crore the previous year.
BDL reported a sales turnover of Rs 2817 crore in financial year 2021-22, a 47% increase over the previous FY’s turnover of Rs 1914 crore, according to a statement.
As of April 1, 2022, the company’s order book was at Rs 10,170 crore, with orders expected to be fulfilled in the next two to three years.
The upgrade of technology has been a top goal for BDL. In recent years, the company has begun exporting certain defence equipment and has formed strategic ties with both governmental and private sector companies. BDL has entered into a number of major agreements in order to keep up with current trends in the global defence market, including:
- Memorandum of Understanding with Naval Group France and Naval Group India
- Israel’s Rafael Advanced Defence System Ltd (Naval Division) has signed a memorandum of understanding with BDL to build underwater weapons.
- Agreement with Thales of the United Kingdom for the indigenous manufacture of STARSTREAK Missiles in India, with technology transfer to BDL.
- A Memorandum of Understanding has been signed with ROXEL, France, for the establishment of a propellant manufacturing facility in India.
- Memorandum of Understanding with Ukraine’s STE “SPETSTECH NOEXPORT” for cooperation development, technology transfer (TOT), and joint manufacturing of various missile systems. The agreement covers optical sighting as well as the repair, refurbishment, and extending of the life of current missile stocks in India.
- Following an MoU for the establishment of Final Assembly Integration and Testing of ASRAAM and Mistral Missiles in India, BDL and MBDA France/UK have entered into an offset arrangement.
BDL Market Cap in BSE (as on 1st June 2022) stands at Rs 14,909 Crore. BDL has strong corporate governance in place. Company is manufacturing State of Art weapons and is strengthening India’s defence. It is creating wealth for all its stakeholders.
Staff Galactik Views