30.20 (0.97%) Mahindra & Mahindra’s (M&M) wholly owned subsidiary--- Mahindra Defence Systems has received a major contract from The Ministry of Defence (MoD) worth Rs 1349.95 crore for the manufacturing of Integrated Anti-Submarine Warfare Defence Suite (IADS) for modern warships of Indian Navy. Competitive bids from Indian companies were invited by MoD through open tender wherein the systems fielded were put through detailed trials at sea to prove their capability.
IADS is a high-end underwater equipment that uses latest technology. It is designed to detect and protect warships from underwater threats. It is a versatile system capable of operations from all sizes of warships - small, medium, and large. The complex array of sensors in water undertakes surveillance and provides inputs for signal processing and analysis. The warship then employs methods to neutralize the underwater threats.
M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.