SHIPBUILDING PSU COMPANY SIGNS AGREEMENT WITH INDIAN AND BRAZILIAN NAVY

Indian shipbuilding PSU company

signs an MoU with the Indian Navy and the Brazilian Navy to strengthen cooperation in the maintenance of Scorpène-class submarines and other naval ships. This step marks a significant milestone in India-Brazil defense ties. This MOU establishes a comprehensive framework for exchange of technical information, maintenance philosophies, industrial practices, spare parts support, and personnel training, aimed at enhancing operational availability and lifecycle support for Scorpène-class platforms operated by both India and Brazil. The company has seen a sales growth of 26% CAGR and profit growth of 57% CAGR over the last 3 years. With such agreements on hand, the company's sales and profits are expected to grow in the coming years.