AXICADES Technologies Limited subsidiary, Mistral Solutions, on Monday, May 27, through an exchange filing announced that the company has secured a large contract with Bharat Electronics Limited (BEL), a top aerospace and defence electronics firm owned by the Indian government.
The deal involves involves designing, developing, and supplying eight Radar Processing Systems for the Arudhra Medium Powered Radar (MPR) over the next four years and the contract is valued at Rs 90 Crore.
About Arudhra Medium Powered Radar
The Arudhra MPR is an advanced, homegrown radar system, which features a rotating active phased array that can automatically detect and track a variety of aerial targets, from slow-moving objects to fast combat aircraft, the company said in the regulatory filing.
This order highlights Mistral's ongoing collaboration with the Defence Research and Development Organisation (DRDO), which has been working on developing an indigenous radar system since 2012.
Mistral Solutions was subcontracted by DRDO to handle the design and development of the radar signal processing system.
Arun Krishnamurthi, the CEO and MD of AXISCADES Technologies, said “We are honored to secure this substantial order from BEL for the supply of Radar Processing Systems. We are working to actively support indigenous defense projects, and this order is a significant step in our commitment to deliver advanced technological solutions to enhance India's defense capabilities. Our role as a key player in the Indian defense technology ecosystem shall be further boosted with this project."
"By utilizing our extensive experience and capabilities in defense technology, we have successfully designed and developed these systems to meet the highest standards of performance and reliability. With this milestone, we look forward to contributing to India’s self-reliance and self-sufficiency in complex defense engineering systems by leveraging the expertise of our team,” added Mujahid Alam, the CEO of Mistral Solutions.
Shares performance
The shares of AXICADES Technologies Ltd on Monday at 12:20 pm IST were trading at Rs 513.50, up by 0.35 per cent. On the other side, the shares of Bharat Electronics Limited (BEL) were trading at Rs 294.40, down by 0.94 per cent.
