Nibe secures Rs 10.52 crore defence order from Elbit Systems
Nibe Limited has announced that it has received a purchase order from Israel-based Elbit Systems Land Ltd, valued at USD 1.2 million (approximately Rs 10.52 crore). The announcement was made after market hours on Friday, August 8.
According to the company's exchange filing, the order is for the manufacturing and supply of ship-mounted universal rocket launcher mechanical and hydraulic kits. The execution period for the order extends until September 2026.
Elbit Systems is a leading global defence technology company, and this contract marks a key addition to Nibe's growing international portfolio. The company also clarified that the order is from an unrelated party and does not fall under related-party transactions.
The deal underscores Nibe's strengthening position in the global defence manufacturing space and is expected to contribute to its revenue in the coming quarters.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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