Bharat Dynamics shares gain on Rs 811-crore order win from defence ministry

Bharat Dynamics Ltd shares rose 2% on Thursday after the defence company signed a contract with the Ministry of Defence for the supply of Satellite Smart Anti-Airfield Weapons (SAT-SAAW) along with associated equipment for the Indian Air Force (IAF).

The contract, worth Rs 810.79 crore, was signed on September 23 in the presence of Defence Secretary Rajesh Kumar Singh in New Delhi, according to the company's exchange filing.

Bharat Dynamics shares rose 1.63% to hit a high of Rs 1,180.90 on Thursday, compared with their previous close of Rs 1,162.

"The contract has been signed with Ministry of Defence for the supply of Satellite Smart Anti-Airfield Weapons (SAT-SAAW) along with associated equipment for Indian Air Force (IAF) with a total cost of Rs 810.79 crore under Buy (Indian - Indigenously Designed, Developed and Manufactured) category," Bharat Dynamics said.

The SAT-SAAW is an air-to-ground precision-guided glide bomb capable of being launched from platforms such as Jaguar, Hawk and Su-30 MKI. According to the company, the system has the capability to neutralise enemy airfields from a long stand-off range.

The system has been indigenously designed and developed by the Defence Research and Development Organisation (DRDO). Bharat Dynamics said SAT-SAAW will have an indigenous content of 60%, along with further indigenisation of subsystems including the Initial Measurement Unit, Long Impact Delay Fuse and Twin Store Carrier.

The delivery of SAT-SAAW is scheduled to take place between 2027-28 and 2028-29, according to the filing. The order is domestic in nature and does not involve any related-party transaction.

The company also disclosed that its promoter or promoter group has no interest in the entity that awarded the contract.