Mistral Solutions, a subsidiary of AXISCADES Technologies Limited, has secured a significant contract with Bharat Electronics Limited (BEL) valued at Rs 90 crore. Eight Radar Processing Systems are being designed, developed, and supplied as part of this transaction for BEL’s Arudhra Medium Powered Radar (MPR). The MPR is a 4D radar system that was developed in the country and is able to track and identify different types of aerial objects.
Mistral’s standing in the military industry is reinforced by this four-year project, which also showcases the company’s proficiency with radar data processing systems. This victory is the outcome of DRDO’s sustained efforts to construct a domestic radar system, with Mistral being a crucial component of that endeavor. Additionally, the corporation plans to increase its global footprint in the Middle Eastern energy sectors. Right now, the Middle East is the engineering services market with the quickest rate of growth. AXISCADES Technologies collected Rs. 220 crores from renowned investors with the introduction of their QIP in QFY24.
In Q4FY24, AXISCADES Technologies Limited reported impressive quarterly results. The company’s revenue was Rs 255.65 crore, up 14.52 percent year over year. The company’s operating profit was Rs 37.96 crore, down 20.64 percent year over year, while its profit after tax (PAT) was Rs 8.99 crore, down 43.95 percent year over year. In March 2024, DIIs raised their ownership position in the business. In the last three years, the stock has also produced multibagger gains of more than 500%.
Investors should closely monitor this stock because of its amazing rise.
Disclaimer: This is not investment advice; it is merely informational.
