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  1. Axiscades subsidiary secures orders from BEL worth ₹90 crore

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Axiscades subsidiary secures orders from BEL worth ₹90 crore

Upstox

2 min read | Updated on May 27, 2024, 19:27 IST

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SUMMARY

AXISCADES Technologies said its subsidiary had got a ₹90 crore order from Bharat Electronics to supply radar processing systems over the next four years. The company’s shares rose marginally following the announcement.

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Axiscades shares end flat after securing orders

Product engineering firm AXISCADES Technologies said its Bengaluru-based subsidiary Mistral Solutions has secured a ₹90 crore order from Bharat Electronics Limited (BEL), the state-owned aerospace and defense electronics.

The order entails design, development, and supply of eight radar processing systems for the Arudhra Medium Powered Radar (MPR). The systems will be delivered over a span of four years.

“The MPR is an indigenous rotating active phased array multifunction 4D Radar capable of automatic detection and tracking of aerial targets ranging from slow-moving targets to combat aircraft. This order is a result of the long-standing effort by DRDO since 2012 to design and build an indigenous radar, having sub-contracted Mistral for the design and development of the RADAR signal processing system,” the company said in an exchange statement.

“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,” Arun Krishnamurthi, the CEO and MD of AXISCADES Technologies, said. “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,” said Mujahid Alam, CEO of Mistral Solutions, adding that, “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.”

This is one of the first liquid-cooled systems designed by Mistral, and in the country, the company said.

“Mistral has built this rugged system from the ground up and qualified it for deployment in adverse environmental conditions. The RADAR Signal Processing system was showcased by DRDO at the Republic Day parade in 2017,” it added.

The Arudhra Radar has undergone field trials for the past several years and is now ready to be inducted into the Indian Armed Forces. It can track a small target as far as 300 kilometres away at an altitude between 100 metres to 30 kilometres.

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