The contract is scheduled to be executed by 12 June 2026 and requires a performance bank guarantee of 4% of the contract value. The order has been awarded by a domestic entity, and neither the promoters nor the promoter group companies have any interest in the awarding entity. The transaction does not fall under related-party transactions.
Avantel is engaged in the business of designing, developing, and maintaining wireless and satellite communication products, defence electronics, radar systems, and the development of network management software applications for its customers, majorly from the aerospace and defence sectors. The company’s consolidated net profit tanked 81.39% to Rs 4.26 crore in Q2 FY26, compared with Rs 22.89 crore in Q2 FY25. Revenue from operations declined 28.42% year on year to Rs 55.41 crore in Q2 FY26.
Shares of Avantel rose 3.43% to close at Rs 152.40 on the BSE.