Published On:December 9 2023
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Saankhya Labs Secures Provisional Purchase Order Valued at Rs. 96.42 Crores

Saankhya Labs, a subsidiary of Tejas Networks [BSE: 540595, NSE: TEJASNET], has announced a significant development with the receipt of a Provisional Purchase Order valued at Rs. 96.42 Crores (excluding GST) from NSIL (NewSpace India Limited). NSIL is a wholly-owned Government of India undertaking and Central Public Sector Enterprise (CPSE) under the administrative control of the Department of Space. The order is specifically for the Supply, Installation, and Commissioning of Two-Way MSS Terminals (Xponders) intended for vessel communication and support systems in Marine Fishing Vessels, focusing on Monitoring, Control, and Surveillance (MCS) along the coastal states of India.

Under the terms of the contract, Saankhya Labs, in collaboration with NSIL, ISRO, and the Department of Fisheries, will deploy its indigenously designed and developed satellite terminals (Xponders) on motorized and mechanized fishing vessels. Once operational, this network is expected to enhance vessel communication and support systems, thereby improving the safety and security of fishermen. The implementation of Xponders is designed to address sea-borne threats from a national security perspective. Furthermore, the Xponders will facilitate navigational assistance, automatic boundary crossing alarms, and emergency weather alerts for fishermen.

Mr. Parag Naik, CEO and Co-founder of Saankhya Labs, expressed delight at winning this prestigious contract from NSIL. He highlighted the company's experience in operationalizing a similar project for mechanized vessels in Tamil Nadu in partnership with ISRO. Mr. Naik emphasized Saankhya Labs' readiness to support the Government of India's efforts in deploying this network across coastal states, emphasizing the company's pride in contributing to one of the largest Satellite-IoT deployments globally.

This project not only serves the objective of improving the livelihood and safety of fishermen but also aligns with the promotion of indigenous satcom solutions operating on ISRO satellites, showcasing a commitment to self-reliance (Atmanirbhar Bharat) in the Satcom domain. The deployment of Saankhya's Made in India Satcom Xponders, powered by Saankhya's SDR chipsets, represents a noteworthy milestone in satellite communications technology and reinforces the company's position as a key player in the global space industry.

EQUITYBULLS





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