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03-Jan-2026     09:56
NIBE bags Rs 293-cr defence order from Indian Army

The order involves the manufacturing and supply of ground equipment, accessories, ESP and ammunition for a Universal Rocket Launcher System capable of integrating multiple rocket types, including long-range rockets with strike capabilities of 150 km and 300 km.

As per the contract terms, the company is required to furnish a performance-cum-warranty bank guarantee equivalent to 10% of the total contract value within 30 days of signing the agreement.

The contract will be executed in tranches over a period of 12 months. The total consideration of Rs 292.69 crore is inclusive of all taxes and duties.

The company clarified that the order has been awarded by a domestic entity and does not fall under related-party transactions. Further, the promoters or promoter group entities do not have any interest in the awarding authority.

NIBE operates in manufacturing critical components for the defence sector, electric vehicles (E-Vehicles), and software development. The company is engaged in fabrication and machining of components used in the defence sector, as well as assembly of components for E-vehicles.

The company reported a consolidated net loss of Rs 8.44 crore in Q2FY26, compared with a net profit of Rs 9.12 crore posted in Q2FY25. Revenue from operations fell 46.04% year-on-year (YoY) to Rs 73.37 crore in the quarter ended 30 September 2025.

Shares of NIBE rallied 9.21% to close at Rs 1,240.25 on the BSE on 2 January 2026.

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