Avantel Secures ₹9.94 Crore DRDO Contract; Shares Decline Over 5%

Mumbai, June 8: Avantel has received a contract worth ₹9.94 crore from the Defence Research and Development Organisation (DRDO), Ministry of Defence, Government of India.

According to the company’s exchange filing submitted under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, the contract relates to development and testing of satellite terminals for GSAT.

The order carries a total contract value of ₹9.94 crore inclusive of applicable taxes.

As per the disclosure, the project falls under the manufacturing and services category and is scheduled for execution by December 2028. The agreement also includes a warranty period of 24 months.

The company clarified that the contract has been awarded by a domestic entity and does not involve related party transactions.

Stock Market Snapshot

Avantel share price remained under pressure on June 8, 2026, even after the defence contract announcement.

Shares of the company closed at ₹161.20, down 5.14% as of 3:30 PM IST, compared with the previous close of ₹169.94.

The stock witnessed broad selling pressure through the session, slipping from levels near ₹168 during early trade to around ₹161 by market close. The decline came amid weakness across several defence and technology counters after recent rallies in the sector.

Even with the correction, investors continue monitoring fresh defence order inflows and execution visibility for companies operating in satellite communications and strategic electronics.

Defence Electronics Pipeline Continues To Expand

The latest order further strengthens Avantel’s positioning within India’s defence communications and satellite systems ecosystem.

The company has built a presence in wireless communication, radar subsystems, satellite communication products and network management solutions catering primarily to defence and aerospace applications.

The GSAT-linked project aligns with India’s ongoing focus on indigenous defence technology development and strategic communication infrastructure under government-backed modernisation programmes.

Market participants are also tracking execution timelines and additional defence procurement opportunities in the coming quarters.

Company Background

Avantel Limited operates in the defence electronics and communication systems segment with a focus on satellite communications, RF systems and embedded networking technologies.

The company supplies products and solutions to defence agencies, space programmes and strategic sectors, with increasing participation in indigenous technology-driven projects.

Conclusion

The ₹9.94 crore DRDO contract adds to Avantel’s defence order pipeline and reinforces its role in India’s satellite communication and strategic electronics ecosystem.

While the stock witnessed selling pressure during the session, the order highlights continued business momentum in defence technology and government-backed communication infrastructure projects.

Source:

• https://www.nseindia.com/get-quote/equity/AVANTEL/Avantel-Limited
• https://nsearchives.nseindia.com/corporate/AVANTEL_08062026155951_OrderIntimation08062026.pdf