Bharat Dynamics Limited (BDL) is one of the leading defence PSUs in India engaged in the manufacture of Surface to Air missiles (SAMs) Anti-Tank Guided Missiles (ATGMs) underwater weapons launchers countermeasures and test equipment. It is the sole manufacturer in India for SAMs torpedoes ATGMs. It is also the sole supplier of SAMs and ATGMs to the Indian armed forces. Additionally it is also engaged in the business of refurbishment and life extension of missiles manufactured. It is also the co-development partner with the DRDO for the next generation of ATGMs and SAMs.The President of India acting through the Ministry of Defence granted the Company the status of `Category I Miniratna Company'. As a Miniratna Company the Company is eligible to some enhanced delegation of powers to the Board including having greater autonomy to incur capital expenditure for its projects without the GoI approval. Founded in 1970 Bharat Dynamics has over four decades of experience in manufacturing missiles and countermeasures and its allied equipments.The Company currently has three manufacturing facilities located in Hyderabad Bhanur and Vishakhapatnam. The Hyderabad manufacturing unit is engaged in the manufacture of SAMs Milan 2T ATGMs countermeasures launchers and test equipment. The Bhanur unit is engaged in the manufacture of the Konkurs - M ATGMs the INVAR (3 UBK 20) ATGMs launchers and spares. The Vishakapatnam unit is engaged in the manufacture of light weight torpedoes the C-303 anti torpedo system countermeasures and spares. All manufacturing facilities have ISO 14001:2004 certifications from TUV India Private Limited. The Hyderabad (Akash Division) and Bhanur manufacturing units have AS 9100C certifications (based on and including ISO 9001:2008) from NVT Quality Certification Private Limited. The Quality management systems and management system for the Hyderabad manufacturing have been certified ISO 9001:2008 and ISO 9001: 2015 compliant by the IRClass Systems and Solutions Private Limited and TUV India Private Limited respectively. The Company is also in the process of setting up two additional manufacturing facilities at Ibrahimpatnam (near Hyderabad) and Amravati in Maharashtra which shall be used to manufacture SAMs and Very Short Range Air Defence Missiles (VSHORADMs) respectively. It is the nominated production agency for VSHORADMs.Bharat Dynamics Limited was incorporated as a private limited company on July 16 1970 as 'Bharat Dynamics Private Limited'. The Board of Directors in their meeting held on October 07 1970 passed a resolution for deleting the word `private' from the name of the Company and the name of the Company was changed to 'Bharat Dynamics Limited' and became a deemed public limited company with effect from July 01 1975.In 1986 the company was upgraded from Schedule D public sector undertaking (PSU) to Schedule C PSU. In 1992 the company was upgraded from Schedule C PSU to Schedule B PSU.Subsequent to the abolition of Section 43A of the Companies Act 1956 with effect from December 13 2000 the Company again became a private limited company.The Indian Army placed orders worth Rs 14180 crore on Bharat Dynamics (BDL) during the year 2011 for the supply of the Akash Weapon System.In 2013 the company's gross sales crossed Rs 1000 crore mark. In 2015 the company's gross sales crossed Rs 2000 crore.The Company has been awarded various prestigious awards such as Raksha Mantri's institutional award for 'Excellence' in performance for the year 2014-15 and the group/individual award in the 'Innovation Category' for the year 2014-15 in recognition of its consistent growth and adaptation and the PSE Excellence Award - 2015 by the Indian Chamber of Commerce in the Miniratna category for operational performance excellence.In 2017 the company's gross sales crossed Rs 4000 crore. The company was converted to a public limited company on 27 October 2017.The Government of India offloaded 2.24 crore shares of Bharat Dynamics via an initial public offer (IPO) during the period from 13 March 2018 to 15 March 2018. There was no fresh issue of shares from the company. The IPO was priced at Rs 428 per share. The stock made its debut on BSE at Rs 360 per share on 23 March 2018 a discount of 15.88% to the IPO price of Rs 428 per share. After the successful completion of the IPO the Government of India's stake in the company came down to 87.75% from 100%.On 18 April 2018 Bharat Dynamics announced that it has signed Licensing Agreement with Defence Research Development Organisation (DROO) for ASTRA MK-1 Weapon System. Limited scale of production will commence shortly on suitable arrangements from DRDO.On 18 September 2018 the Ministry of Defence announced that the Defence Acquisition Council (DAC) accorded approval for the procurement of equipment for the Defence Forces valued at over Rs 9100 crore. Pursuing the goal of indigenisation and self-reliance the DAC approved procurement of two Regiments of Akash Missile Systems under 'Buy (lndian)' category from Bharat Dynamics. The Missile to be procured is an upgraded version of the previously inducted Akash missiles and will include seeker technology possess 360 degree coverage and will be of compact configuration with reduced signature. The upgraded Akash Weapon System is operationally critical equipment which will provide protection to vital assets.