Core Announcement – Order Details
Awarding Entity: Indian Army, Ministry of Defence, Government of India
Domestic/International Order: Domestic Entity
Nature of Order/Contract: Supply contract for manufacturing and supply of thirty (30) Sets of Loiter Munition System consisting of three hundred (300) Loiter Munitions and Associated Testing Equipment and Accessories under Buy (Indian) category.
Order Value: Total consideration of Rs. 563.35 crore (inclusive of all taxes and duties)
Materiality Context: Not Specified
Execution Timeline: The order will be executed and delivered in tranches within 12 months from date of release of advance payment post signing of contract.
Revenue Recognition / Billing Structure: Not Specified
Key Terms & Payment Milestones:
- The Company shall furnish Performance cum Warranty Bank Guarantee equal to 10% of the Total Contract Price (including taxes and duties) within 45 days of signing of Contract.
- The Company shall furnish Performance Bank Guarantee for AMC equal to 5% of the Total Price of AMC prior to expiry/return of the PWBG of the Main Contract.
Whether Related Party Transaction: No
Promoter Group Involvement: No
Financial Implication: Not Specified