BDL entered into MoU with Thales to set up manufacturing facilities for Laser Guided Rocket and its major components in India. In addition to the above, an MoU was signed by BDL with EDGE Group entity, AL TARIQ, UAE to jointly produce an all-weather, day / night, long-range precision guided munition (LR-PGM) kits in India.
Moreover, during Aero India 2023, BDL also launched three new products; Vertical Launched Short-Range Surface to Air Missile (VLSRSAM), Semi-Active Laser Seeker Anti-Tank Guided Missile (SALS ATGM) for BMP-II and Drone Delivered Missile (JISHNU).
VLSRSAM is a next-generation, ship-based, all-weather, air defence weapon, which can be used by the Navy as a quick reaction point defence against supersonic sea skimming targets like aircraft and UAVs. SALS ATGM is a subsonic missile with a range of 4,000 metres and flight time of 25 seconds and will be used to target moving and stationary tanks and Infantry Combat Vehicles.
JISHNU, on the other hand, is a light weight drone delivered missile with range of 1.5 kilometers with a flight time of nine seconds.
VLSRSAM, which was already under development by DRDO with BDL as production partner, is expected to provide significant orders to BDL in future. These new missiles and other under development are expected to drive order flows for BDL in long term, say analysts.
"BDL’s current order book of Rs 11,906 crore (3.8x TTM revenues) already gives strong visibility. On the exports front, we believe there is a huge opportunity for many Indian developed and manufactured missiles, due to strong product capabilities with lower cost on high indigenisation levels," ICICI Securities said.
At 12:34 PM: BDL quoted 9 per cent higher at Rs 875.25, as compared to 0.28 per cent rise in the S&P BSE Sensex. However, in the past one month, the stock underperformed market as shares fell 6 per cent, as against 2.3 per cent gain in the benchmark index.
That apart, in the past three months, it was down 9 per cent, as compared to less than 1 per cent decline in the S&P BSE Sensex.
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