AXISCADES Technologies Limited announced that its subsidiary Mistral Solutions Private Limited has secured a major supply order from Bharat Electronics Ltd (BEL), Ministry of Defence. The order, valued at ₹100.00 crores, involves the supply of Signal and Data Processing Units for defence radar subsystems along with associated spares, supporting the company's growth in high-profit embedded systems.

Order Details and Specifications

The comprehensive details of this significant defence contract highlight its strategic importance for the company's growth trajectory in the embedded systems sector.

Contract Terms and Execution

The supply order represents a domestic contract with BEL, a key entity under the Ministry of Defence. The execution period spans over two years, providing AXISCADES with a sustained revenue stream from this defence sector engagement. The order focuses on radar subsystem components, positioning the company in the high-margin embedded systems market segment.

Corporate Governance and Compliance

The company has confirmed that this order involves no related party transactions and maintains arm's length dealing standards.

Strategic Significance for Embedded Systems Growth

This order win strengthens AXISCADES' position in the defence electronics sector through its subsidiary Mistral Solutions. The contract involves sophisticated Signal and Data Processing Units for radar applications, demonstrating the company's technical capabilities in serving critical defence infrastructure requirements. The focus on radar subsystems supports the company's strategic growth in high-profit embedded systems, providing visibility for sustained business operations and enhanced profitability in the defence segment.

AXISCADES Technologies Limited has achieved a significant legal victory with the Karnataka High Court quashing all Income Tax Department notices against its wholly owned subsidiary, AXISCADES Aerospace & Technologies Private Limited. The court order dated November 4, 2025, brings closure to tax litigation that has been ongoing since July 2023.

Court Order Details

The Karnataka High Court at Bengaluru issued an order quashing multiple notices from the Income Tax Department, all dated May 22, 2023. The court's decision covers:

Background of the Litigation

The tax dispute originated from Income Tax Department proceedings initiated for fiscal year 2014-15 under section 147, read with sections 144 and 144B of the Income Tax Act. The core issue involved the admissibility of capital loss in income tax returns for the said fiscal year.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. This update follows the initial intimation filed on July 20, 2023, when the company first received the stay order from the Karnataka High Court.

The disclosure also complies with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, providing comprehensive details about the litigation status change. The company confirmed that the proceedings do not involve key management personnel, promoters, or ultimate persons in control, and no settlement terms or compensation payments were applicable.

Corporate Impact

This favorable court ruling eliminates the potential financial liability that could have arisen from the Income Tax Department's demands and penalties. The resolution of this long-standing litigation removes regulatory uncertainty for AXISCADES Aerospace & Technologies Private Limited, allowing the subsidiary to operate without the overhang of pending tax proceedings related to the 2014-15 fiscal year capital loss treatment.