M&M subsidiary bags contract from MoD to manufacture armoured tactical vehicles for Indian Army

Mahindra Defence Systems Limited (MDS), the wholly-owned subsidiary of Mahindra & Mahindra Ltd has been awarded a major contract from the Ministry of Defence (MoD) for the manufacturing of armoured tactical vehicles (LSV) for the Indian Army for their recce and weapon carrier requirements. 

The current contract is worth Rs 1,056 crore. The induction of vehicles is planned to be completed in four years, commencing in 2021. 

For the said contract, the MoD had invited competitive bids from Indian companies through open tender wherein the vehicles were put through gruelling trials under different operating conditions. 

The MDS LSV has undergone rigorous and elaborate trial procedures carried out by the Indian Army in different terrains including high altitude, deserts, and plains. MDS LSV is the only vehicle that passed all the fields, ballistics, and technical trials. 

MDS has indigenously designed & developed the LSV to the exacting standards of the Indian Army. The modular design of this vehicle makes it future-proof. Also, as the OEM of the vehicle, MDS has the necessary IP and capabilities in all aspects from the development of the LSV variants to complete life cycle support. One version of the MDS LSV is already in service with Indian Battalion deployed in a UN peacekeeping mission in Africa. 

On Tuesday during the early morning session, the stock of M&M was trading 1.2 per cent higher at Rs 864 from its previous close of Rs 853.60 on BSE.