AXISCADES Subsidiary Secures ₹150 Cr Su-30MKI Upgrade Order! 🚀
Big news from the defense sector! AXISCADES Technologies Limited (NSE: AXISCADES) is making headlines today as its subsidiary, Mistral Solutions Private Limited, has secured a substantial order from the Combat Aircraft Systems Development & Integration Centre (CASDIC), a unit of DRDO under the Ministry of Defence. This exciting development comes as AXISCADES shares were already showing some positive momentum, trading up 1.5% at ₹1265.1 when this news broke.
This isn’t just any order; it’s a strategic win for AXISCADES, solidifying its position in India’s growing defense ecosystem. The contract involves the development of Electronic Control Units for the cooling system of the formidable Su-30MKI fighter jet upgrades. Initially, Mistral Solutions will focus on prototype development, delivering 10 units. But here’s the kicker: this is expected to be followed by a significant production order for an estimated 600 units of the Su-30MKI upgrade!
Let’s talk numbers. The design and development phase alone is valued at approximately ₹3 Crores (excluding GST) and is slated for completion within 18 months. Following this, the estimated production order is projected to be around a whopping ₹150 Crores, spread over a period of 3 to 5 years. This long-term engagement highlights the critical nature of the technology being developed and the trust placed in Mistral Solutions’ capabilities.
For AXISCADES, this order underscores its expertise in high-tech engineering and its commitment to contributing to national defense. Securing a contract with DRDO, a premier defense research and development organization, is a testament to the company’s robust capabilities and its subsidiary’s specialized knowledge in embedded systems and defense electronics. It’s a clear signal of the company’s strategic growth in the aerospace and defense segment.
This development contract, followed by a substantial production forecast, promises a steady revenue stream and strengthens AXISCADES’ footprint in a vital sector. Keep an eye on AXISCADES as they continue to innovate and contribute to India’s self-reliance in defense technology! 🇮🇳
source: Corporate Announcement
Join our Telegram for instant updates!