Axiscades Technologies Ltd on Monday announced that its wholly owned subsidiary Axiscades Aerospace & Technologies Private Limited has bagged a significant contract worth Rs 223.95 crore from the Indian Army.
The order, awarded under the Government of India’s ‘Atmanirbhar Bharat’ initiative, underscores the growing emphasis on indigenous defence manufacturing and self-reliance.
In a regulatory filing, Axiscades said that the contract is for supplying 212 units of next-generation 50 Ton Tank Transporter Trailers. The project has to be executed within a period of 2 years. The deal is entirely domestic and does not involve any related party transactions, it said.
The contract is awarded by the Directorate General of Capability Development, Integrated Headquarters of Ministry of Defence (Army), A Wing, Sena Bhavan, New Delhi.
Shares of Axiscades Technologies went up by 0.77 per cent to a trading price of Rs 1,290.00
Earlier in May, the company reported over three-fold jump in consolidated net profit to Rs 32 crore in the March quarter. This was aided by higher revenues. For the fourth quarter of FY24, it had recorded a net profit of Rs 9 crore. Axiscades revenue increased 5 per cent to Rs 268 crore in Q4 from Rs 256 crore a year ago.