NewsOrders & DealsAXISCADES Technologies Secures ₹7.99 Crore Contract for Counter Drone Systems from Indian ArmyAXISCADES Technologies Secures ₹7.99 Crore Contract for Counter Drone Systems from Indian Army
Axiscades Engineering Technologies' subsidiary, AXISCADES Aerospace & Technologies Private Limited, has been awarded a ₹7.99 crore contract by the Indian Army. The contract involves supplying 12 Man Portable Counter Drone Systems (MPCDS) with ICT systems. Delivery is scheduled within 12 months, highlighting the company's role in enhancing India's defense capabilities against drone threats.
*this image is generated using AI for illustrative purposes only.
Axiscades Engineering Technologies , a leading technology solutions provider, has announced a significant milestone in its defense sector operations. The company's wholly-owned subsidiary, AXISCADES Aerospace & Technologies Private Limited, has been awarded a prestigious contract by the Indian Army for the supply of Man Portable Counter Drone Systems (MPCDS).
Contract Details
The contract, valued at ₹7.99 crore, involves the development, manufacturing, and supply of 12 Man Portable Counter Drone Systems along with their corresponding ICT (Information and Communications Technology) systems. This strategic order underscores the Indian Army's commitment to enhancing its technological capabilities in countering potential drone threats.
Delivery Timeline
According to the company's disclosure, AXISCADES is scheduled to complete the delivery of these advanced systems within 12 months from the date of the contract award. This timeline highlights the urgency of the project and the company's readiness to meet the Indian Army's requirements promptly.
Significance of the Order
This order marks a significant achievement for AXISCADES Technologies in the defense sector. The Man Portable Counter Drone Systems are crucial in modern warfare and security operations, designed to detect, track, and neutralize unauthorized drones that may pose security risks.
Company's Position
AXISCADES Technologies has been strengthening its position in the aerospace and defense sectors. This contract not only adds to the company's order book but also reinforces its capabilities in delivering cutting-edge defense technologies.
Market Impact
While the contract value of ₹7.99 crore may not significantly impact the company's overall financial position, it represents an important step in AXISCADES' strategy to expand its footprint in the defense sector. The successful execution of this contract could potentially lead to more opportunities in the future, both with the Indian Army and other defense organizations.
Compliance and Disclosure
In compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, AXISCADES Technologies has duly informed the stock exchanges about this development. The company's prompt disclosure demonstrates its commitment to transparency and adherence to regulatory norms.
This contract win by AXISCADES Technologies highlights the growing emphasis on indigenous defense technology development in India and positions the company as a key player in this strategic sector.
Historical Stock Returns for Axiscades Engineering Technologies
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.82% | -5.59% | +24.80% | +80.37% | +166.42% | +3,112.12% |
18
