Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015 - Bagging of Order
AXISCADES · price
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Axiscades Technologies' wholly owned subsidiary AXISCADES Aerospace & Technologies Private Limited has secured an order for manufacturing and supply of Mobile Mast System (MMS) from the Office of DG (ACE), Ministry of Defence. The order is valued at INR 6.9 crore and is a development and production contract. The project has an 18-month timeline and is expected to be completed by November 2027. This is a domestic order awarded to the subsidiary, not the parent company directly.
Positive development for shareholders as the subsidiary secured a defence contract; however, the INR 6.9 crore order size may have limited direct impact on the parent company's financials given it's a subsidiary-level deal.