BHARAT DYNAMICS LIMITED

Bharat Dynamics Limited (BDL) is one of the leading defence PSUs in India engaged in the manufacture of Surface to Air Missiles (SAMs), Air to Air Missiles (AAM), Underwater Weapon Systems, Anti-Tank Guided Missiles (ATGMs), Torpedoes, and Allied Defence Equipments. The Company is engaged in the business of refurbishment and life extension of stored and deployed missiles. It is the sole manufacturer in India for SAMs, torpedoes, ATGMs. Currently, it is also the sole supplier of SAMs and ATGMs to the Indian Armed Forces. Headquartered in Hyderabad, Bharat Dynamics Limited (BDL), was incorporated on 16 July, 1970 as a Public Sector Undertaking under The Ministry of Defence, Government of India. The Company currently has 3 manufacturing facilities located in Hyderabad, Bhanur, and Vishakhapatnam. The Hyderabad manufacturing unit is engaged in the manufacture of SAMs, Milan 2T ATGMs, countermeasures, launchers and test equipment. The Bhanur unit is engaged in the manufacture of the Konkurs - M ATGMs, the INVAR (3 UBK 20) ATGMs, launchers and spares. The Vishakapatnam Unit is engaged in the manufacture of lightweight torpedoes, the C-303 anti torpedo system, countermeasures and spares. The Company is also in the process of setting up two additional manufacturing facilities at Ibrahimpatnam (near Hyderabad) and Amravati in Maharashtra which shall be used to manufacture SAMs and Very Short Range Air Defence Missiles (VSHORADMs) respectively. It is the nominated production agency for VSHORADMs. In 1986, the company was upgraded from Schedule D public sector undertaking (PSU) to Schedule C PSU. In 1992, the company was upgraded from Schedule C PSU to Schedule B PSU. Subsequent to the abolition of Section 43A of the Companies Act, 1956, with effect from December 13, 2000, the Company again became a private limited company. The Indian Army placed orders worth Rs 14180 crore on Bharat Dynamics (BDL), during the year 2011 for the supply of the Akash Weapon System.In 2013, the company's gross sales crossed Rs 1000 crore mark. In 2015, the company's gross sales crossed Rs 2000 crore. The Company has been awarded various prestigious awards such as Raksha Mantri's institutional award for 'Excellence' in performance for the year 2014-15 and the group/individual award in the 'Innovation Category' for the year 2014-15, in recognition of its consistent growth and adaptation and the PSE Excellence Award - 2015 by the Indian Chamber of Commerce in the Miniratna category for operational performance excellence. In 2017, the company's gross sales crossed Rs 4000 crore. The company was converted to a public limited company on 27 October 2017. The Government of India offloaded 2.24 crore shares of Bharat Dynamics via an initial public offer (IPO) during the period from 13 March 2018 to 15 March 2018. There was no fresh issue of shares from the company. The IPO was priced at Rs 428 per share. The stock made its debut on BSE at Rs 360 per share on 23 March 2018, a discount of 15.88% to the IPO price of Rs 428 per share. After the successful completion of the IPO, the Government of India's stake in the company came down to 87.75% from 100%. On 18 April 2018, Bharat Dynamics announced that it has signed 'Licensing Agreement' with Defence Research Development Organisation (DROO) for ASTRA MK-1 Weapon System. Limited scale of production will commence shortly on suitable arrangements from DRDO. On 18 September 2018, the Ministry of Defence announced that the Defence Acquisition Council (DAC) accorded approval for the procurement of equipment for the Defence Forces valued at over Rs 9100 crore. Pursuing the goal of indigenisation and self-reliance, the DAC approved procurement of two Regiments of Akash Missile Systems under 'Buy (lndian)' category from Bharat Dynamics. The Missile to be procured is an upgraded version of the previously inducted Akash missiles and will include seeker technology, possess 360 degree coverage and will be of compact configuration with reduced signature. The upgraded Akash Weapon System is operationally critical equipment, which will provide protection to vital assets. During FY19, Bharat Dynamics Limited (BDL) completely executed Milan- 2T ATGM contract well before the contractual delivery schedule. It inaugurated production facility for manufacturing of Man-Portable Anti-Tank Guided Missile (MP-ATGM). Further, the Company inaugurated Acoustic Tank Test Facility at its Visakhapatnam Unit. During the year 2019, an amount of Rs 90 crore has been earmarked for capital expenditure (CAPEX) towards modernization of plant & machinery and other infrastructure development programme. During FY 2018-19, key technology upgradation projects like 160 KV X-Ray machine, SMD Pick and place machine and Automatic Inspection System were taken up for implementation. During the year 2019, R&D facilities like PADS schematic design software, advanced structural and thermal analysis software, rapid prototyping and reliability software, opto-mechanical software, PCB design tools and other development tools have been established. During 2018-19, first batch of CMDS for Mirage were supplied to M/s.HAL for integration to aircraft. CMDS for MLH were supplied to M/s.BEL for developmental trials. During the year 2019-20, Akash SAM two regiment order along with GSE was executed completely. Further, company received Akash SAM order worth Rs. 1700 Crore for supply of Akash Missiles along with associated spares. The Heavy Weight Torpedo, Varunastra manufactured was handed over to the Indian Navy during Defexpo on 7th February 2020. An amount of Rs 57 Crore was spent on Capital Expenditure (CAPEX) towards modernization of Plant & Machinery and other Infrastructure development. Accordingly, as a part of CAPEX , the technologies such as preheating oven, environmental chambers, shock machine, test equipments and high speed cameras were taken up for upgradation. It signed MOU with M/s Roxel, France, M/s Javelin Joint Venture,USA, h M/s AlmazAntey, Russia, MoU with BDL & IIT Kanpur and a Start-up Company M/s Nocca Robotics. In FY 2020-21, Company launched two new products during Aero India - 2021, an underwater weapon, the Dishani and Garudastra. It started the operation of 'Surface - Mount Technology' facility and 'High Performance Computing' facility. An amount of Rs. 57.30 Crore has been spent on Capital Expenditure (CAPEX) programme towards modernization of Plant & Machinery and other infrastructure development. It integrated the 1st batch of ASTRA missiles and handed over to the DRDL. It established R&D facilities like Real Time Data Acquisition and Processing System, Frequency Response Analyzer, High Speed Cameras, Graphics Processing Unit (GPU) development kits, Microelectronic Boards, and Laser Safety Set-up. During 2021-22, Konkurs - M, Anti Tank Guided Missiles Order was executed completely. Further, the Company signed a new contract with Indian Army for manufacture and supply of Konkurs-M Missile worth about Rs. 3131.82 Crore. It received refurbishment order worth about Rs. 471.41 Crore from Indian Army. A new version of Akash Missile was test fired. An amount of Rs. 103 Crore was spent on Capital Expenditure (CAPEX) towards modernization of Plant & Machinery and other infrastructure development. The Company took initiative to establish war head manufacturing facility, RF seeker facility, High Temperature Carbon Composite Manufacturing facility and implementation of Industry 4.0. Besides this, new facilities like SMD line and High Computing facilities were also set up. It signed a contract with M/s Airbus Defence and Space, Spain on 17th November, 2021 for development and supply of CMDS for C-295 Aircraft. During the year, Company procured Common goods/services worth about Rs. 92.Crore through Govemmente Market Place (GeM). In 2022-23, BDL inaugurated the Warhead Manufacturing Facility at Bhanur Unit, the Radio Frequency (RF) Seeker Facility at the Kanchanbagh Unit, and the Central Storage Facility at Visakhapatnam Unit. As on 31 March 2024, the Govt. of India shareholding in the Company stands at 74.93% (representing 27,46,51,054 equity shares of Rs.10/- each) The first Radio Frequency (RF) Seeker of Akash-Next Generation Weapon System produced at BDL's newly commissioned State-of-the-art Seeker Facility Centre (SFC) was handed over to Secretary, Department of Defence Research Development and Chairman DRDO on 02nd August 2023. Hon'ble RRM Shri Ajay Bhatt flagged off the indigenously developed and BDL manufactured Astra Missiles for supply to the Indian Air Force in January 2024 at BDL, Kanchanbagh Unit, Hyderabad. The last Varunastra of the current order from Indian Navy was flagged off by Dr Y Sreenivas Rao, DS & DG (NS&M) at BDL Vizag Unit in presence of dignitaries from IHQ, ENC, NSTL, NAD & NAI. In FY 2024-25, BDL initiated the stage worth about Rs 6668 crore for supply of one of the Anti-Tank Guided Missiles (ATGM), Medium Range Surface to Air Missile (MR-SAM) and other weapon systems to the Indian Armed Forces. BDL has evaluated trails of new generation ATGMs, upgraded Surface to Air Missiles, Vertical Launched Short Range Surface to Air Missiles (VL-SRSAM), Long Range Land Attack Cruise Missiles (LR-LACM) and Underwater Weapons. .