Shriram Industries gets licence to manufacture UAVs, bullet proof vehicles

Stock price rose by 8.61% to Rs 148.25 a piece on the BSE at 1811 hours

DCM Shriram Industries on Thursday said that it has received a licence from the government for manufacturing about 3,500 unmanned aerial vehicles (UAVs), bullet proof vehicles and other products, annually.

In a regulatory filing, the company informed that it has got the 'industrial licence' for the life-time from the Arms Licence Authority under the Department of Industrial Policy and Promotion (DIPP).

The city-based DCM Shriram Industries said it has got the licence to manufacture annually 3,000 bullet-proof vehicles including armoured multi-role vehicles and specialist vehicles.

The company has also got the licence for manufacturing annually 500 UAVs along with ground data terminal, ground control stations and launchers, the filing said.

"Though the fructification of the licences to the product launch would require various steps including trials of proto-types and receipt of firm order, and the materiality of the effect of the projects of the company's operations cannot be determined at this stage," it added.

The company is engaged in the businesses of sugar, industrial fibre and chemicals. Its stock price rose by 8.61 per cent to Rs 148.25 a piece on the BSE at 1811 hours.