Israel Aerospace Industries' (IAI) ELTA Systems and DCX Systems Ltd. broke ground on a new radar manufacturing facility at the Shoolagiri Industrial Area in Tamil Nadu, India, on May 4, 2026. The event marked a significant milestone for their joint venture, ELTX Systems Pvt. Ltd., and was attended by leadership from ELTA and DCX Systems, alongside government officials, industry representatives, and key stakeholders.

Strategic Vision and Facility Purpose

The new facility represents a major step in advancing India's Atmanirbhar Bharat ("Make in India") vision, reinforcing the country's strategic shift toward self-reliance in defense manufacturing. It is designed to serve as a centre for the manufacturing, integration, and testing of advanced radar systems, supporting both domestic and international defense requirements, while significantly strengthening India's indigenous design, development, and production capabilities.

Key details of the facility and joint venture are outlined below:

ELTX Systems: Enabling Technology Transfer

ELTX Systems is designed to enable the transfer of knowledge and advanced technologies of high-end defense systems, including airborne radars and ground-based systems. The joint venture reflects a shared commitment to localizing critical capabilities, deepening industrial cooperation, and supporting India's ambition to become a global hub for advanced defense manufacturing.

The facility is designed with scalable infrastructure and will operate under stringent quality and security standards to meet evolving operational requirements. Through ELTX Systems, the partnership aims to support various Armed Forces programs. Once operational, the facility will enhance capabilities in the following areas:

• Surveillance and threat detection
• Development of a robust local ecosystem through collaboration with suppliers, startups, and academic institutions
• Job creation and workforce upskilling
• Deeper value addition aligned with national defense priorities

Leadership Perspectives

Boaz Levy, IAI President and CEO, commented on the development: "This break ground marks another significant milestone in IAI's expanding activity in India, carried out in close partnership with the local industry and in full alignment with the Government's 'Make in India' vision. We are proud to take part in joint initiatives that strengthen the defense capabilities of both nations. This collaboration also reflects our shared commitment to advancing technological innovation, fostering local expertise, and further strengthening the long-term strategic partnership between our countries."

Dr. H.S. Raghavendra Rao, Chairman and Managing Director of DCX Systems, added: "This joint venture exemplifies our shared vision of combining global expertise with local manufacturing capabilities. The new facility will enable faster delivery timelines, deeper value addition, and greater alignment with national defense priorities."

IAI's Long-Standing Commitment to India

IAI has made substantial and sustained investments in India's defense ecosystem as part of its long-term commitment to supporting the country's self-reliance goals. These efforts are focused on empowering India to independently operate, maintain, and enhance its defense systems through job creation, workforce upskilling, and the development of a robust local manufacturing base.

For over four decades, IAI has built strong partnerships with India and its Armed Forces, delivering advanced technologies and strategic systems—including air and missile defense systems, unmanned aerial systems, satellites, radars, and intelligence solutions—many of which are operational across India's tri-services and government agencies.

DCX Systems Limited has issued a corrigendum to its postal ballot notice dated April 9, 2026, to address missing information in the explanatory statement regarding material related party transactions with ELTX Systems Private Limited.

Postal Ballot Notice Details

The original postal ballot notice was circulated to shareholders on April 9, 2026, seeking approval for Business Item No. 1 titled "Approval for Material Related Party Transactions with ELTX Systems Private Limited, Related Party of the Company." The notice was dispatched in compliance with the provisions of the Companies Act, 2013, and relevant rules.

Missing Information Rectified

After issuing the postal ballot notice, the company identified missing information in the explanatory statement of Business Item No. 1. The corrigendum specifically adds the following disclosure to the explanatory statement:

"The Audit Committee has reviewed the certificate provided by Managing Director and Chief Financial Officer of the Company, as required under the RPT Industry Standards."

Document Integration and Availability

The corrigendum forms an integral part of the original postal ballot notice and must be read in conjunction with the April 9, 2026 notice. The company has made the corrigendum available through multiple channels:

• Company website at www.dcxindia.com
• BSE website at www.bseindia.com
• NSE website at www.nseindia.com

Corporate Compliance

The corrigendum was signed by Gurumurthy Hegde, Company Secretary, Legal and Compliance Officer, and dated April 29, 2026, from Bengaluru. All other contents of the original postal ballot notice and explanatory statement remain unchanged except for the additional disclosure mentioned in the corrigendum.

The company emphasized that shareholders should note the additional disclosure as part of the explanatory statement for Business Item No. 1, ensuring complete transparency in the material related party transaction approval process.