Mahindra Defence Naval Systems (MDNS), manufacturer of defence systems for Indian Navy is planning to double its revenue and eyeing significant growth from its defence manufacturing products. The company today inaugurated its new underwater systems and naval applications manufacturing facility in Chakan, near Pune. MDNS is a wholly owned subsidiary of Mahindra Defence Systems,of Mahindra Group. MDNS has posted revenue of Rs 20 crore in the current financial year and planning to double the revenue by end of next financial year. According to the company the new facility will enhance its advanced manufacturing expertise in the area of naval defence systems. The new plant will support the naval defence business of Mahindra Defence Systems, which already has a land and radar systems business that operates from Prithla, near Faridabad. The company has a order book of Rs 100 crore for the next 18 months. “This project is extremely important for us. We have entered into the critical defence sector for long haul. It signifies our intent to build technology, components and capabilities. Defence system and technologies can not be developed without private sector’s participation. In the western countries, private companies are playing important role for manufacturing defence products,” said Anand Mahindra, chairman, Mahindra Group. Mahindra also elaborated that if required the company may also look joint venture partners. “This is a beginning of a long journey for private players in defence sector. We will do joint venture if necessary, otherwise, Mahindra is very much capable of manufacturing defence products,” he added. “Mahindra Defence Systems now has a three dimensional capability encompassing land, sea and air domains and we are also working to derive synergies between our Defence business and other Mahindra Group companies. Looking ahead, there are a number of new projects that we are developing and we expect to see these come to fruition the near future,” said S P Shukla, president – group strategy & defence sector and chief brand officer, Mahindra Group. MDNS supplies various types of launchers for ships, as well as systems and components to customers other than the Indian Navy. These include the ordnance factories board, atomic energy commission, defence R&D organisation and other private sector companies. MDNS launchers are fitted on board certain front line warships of the Indian Navy. In the next one year the facility MDNS will manufacture products like sea mines, decoy launchers, missile containers, torpedoes components, shells for torpedoes, special carbon fibre products, gun components and spares, torpedoes and sonobuoys.
Posted on: Sun, 09 Mar 2014 04:55:29 +0000
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