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Under the terms of the agreement, DCX Systems will supply electronic assemblies to Lockheed Martin, with the contract to be fully executed within 12 months. Shares of DCX Systems Ltd ended at ₹337.20, down by ₹3.80, or 1.11%, on the BSE.
DCX Systems Ltd, manufacturer of cables and wire harness assemblies, on Friday (November 8) said it has received an export order valued at approximately $54.8 million (₹460.3 crore) from Lockheed Martin Global Inc, USA.
"...we wish to inform you that the company has received export orders from M/s. Lockheed Martin Global Inc, USA for US$ 54,798,120.00 (Equivalent to about ₹460.30 crores at an exchange rate of 1 USD = INR 84)," the company said in a stock exchange filing.
Under the terms of the agreement, DCX Systems will supply electronic assemblies to Lockheed Martin, with the contract to be fully executed within 12 months.
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In September this year, DCX Systems had informed the exchanges that its wholly-owned subsidiary was granted an industrial licence. The Industrial Licensing Section of the Office of the Development Commissioner of the Cochin Special Economic Zone (CSEZ); SEZ in Karnataka; and the Ministry of Commerce and Industry granted an industrial licence to DCX Systems' wholly-owned subsidiary — Raneal Advanced Systems Pvt Ltd.
DCX Systems has been granted the industrial licence for the production, assembly and testing of microwave submodules for command and guidance units for missile subsystems. This is meant for the integration and manufacturing of avionics & defence electronic equipment and for the production, assembly and testing of radar systems and EW systems.
These types of equipment fall under category A as per the Ministry of Defence Security Manual. The manufacturing of products in this category is classified as sensitive in nature from a security perspective. The industrial licence undertaking to manufacture these items will be located in Bengaluru, DCX Systems said in its exchange filing. The licence is valid for a period of 15 years.
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Shares of DCX Systems Ltd ended at ₹337.20, down by ₹3.80, or 1.11%, on the BSE.
(Edited by : Shoma Bhattacharjee)
