Mazagon Dock Shipbuilders has signed a contract worth Rs 1,990 crore with Ministry of Defence for construction of air independent propulsion plug for DRDO AIP system & its integration into conventional submarines to enhance their endurance.
The order entails the design, construction, and integration of contract(s) for Air Independent Propulsion (AIP) plug-in scorpene submarines.The AIP technology is being indigenously developed by DRDO. The project pertaining to the construction of the AIP plug and its integration will enhance the endurance of conventional submarines. MDL is proud to be a partner in this unique program and to significantly contribute towards the Aatmanirbhar Bharat initiative.
The project is to be executed within TO + 42 months, where TO is the date of release of advance payment by the buyer to the executed seller.
Mazagon Dock Shipbuilders is principally engaged in building and repairing ships, submarines, various types of vessels, and related engineering products for its customers.
The companys consolidated net profit surged 75.76% to Rs 585.08 crore on a 50.84% jump in revenue from operations to Rs 2,756.83 crore in Q2 FY25 over Q2 FY24.
Shares of Mazagon Dock Shipbuilders slipped 1.73% to Rs 2,227 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content