Mahindra bags Navy contract worth Rs 1,349.95 cr.

TIL Desk/Business/New Delhi/ Mahindra & Mahindra Ltd on Friday said group firm, Mahindra Defence Systems Limited (MDS) has bagged a contract worth Rs 1,349.95 crore for manufacturing of Integrated Anti-Submarine Warfare Defence Suite (IADS) for modern warships of Indian Navy from the Indian government.

Competitive bids from Indian companies were invited by the Ministry of Defence (MoD) through open tender wherein the systems fielded were put through detailed trials at sea to prove their capability, Mahindra & Mahindra said in a regulatory filing. Mahindra Defence would be supplying 14 IADS systems for the Indian Navy warships, it added.

Commenting on the development, Mahindra Defence Systems Ltd chairman SP Shukla said, “It is the first major contract with the private sector meant for underwater detection and protection from threats. This contract once again epitomises the success of the Atmanirbhar Bharat initiative.”

IADS is high-end underwater equipment that uses the latest technology along with a complex array of sensors, designed to detect and protect warships from underwater threats, the company said. “This advanced technology system is the first of its kind being developed by an Indian company for the Indian Navy,” Mahindra Defence said.