Apollo Micro Systems wins order from Bharat Dynamics - Check details
According to the company, the project will significantly strengthen the Company’s position in the underwater warfare sector.
Apollo Micro Systems, an aerospace and defence sector company, has received an order from Bharat Dynamics - a Government of India Enterprise.
According to an exchange filing, the is for Software Defined Universal Homing System for Heavy Weight Torpedoes. This first-of-its-kind technology was developed in collaboration with Defence Research and Development Organisation (DRDO).
"The order marks the beginning of production from M/s. Bharat Dynamics Limited, who are nominated agency for the production of the entire torpedo. Our company is the only qualified vendor for this Homing System as on this date. These Heavy Weight Torpedoes will be integrated into Strategic Submarine Programme(s), and we are proud to be part of this significant project," the company said in a filing.
According to the company, the project will significantly strengthen the Company’s position in the underwater warfare sector.
Also, Apollo Micro System has been declared as L1 for the order from the Controllerate of Naval Armament (OF) for a value of Rs 5.73 crore.
"This project involves the development of a Rocket Guided Bomb for Anti-Submarine Warfare, capable of being fired from ships in salvos. This achievement marks our entry into the complete development and manufacturing of Rocket Guided Bombs, paving the way for similar weapon systems for air, land, and sea applications," the company said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SBI Amrit Vrishti FD vs Central Bank of India 444-day FD: Which gives higher return to senior citizens on Rs 10 lakh and Rs 20 lakh investments
SIP Calculator: How soon can you build Rs 2 crore retirement corpus by investing Rs 5,100, Rs 11,000 or Rs 21,000 a month; see examples
SBI Sarvottam FD vs Union Bank Sumvridhi FD For Senior Citizens: What will be returns on Rs 5 lakh investment in each guaranteed return scheme
12:34 PM IST