Indian Defence QRSAM Systems: BEL, BDL and Other Defence Stocks to Reap Benefits

In a significant development for India's defence sector, reports indicate that the Indian Army has floated a ₹30,000 crore tender to state-owned defence PSU Bharat Electronics Ltd. (BEL) for the procurement of Quick Reaction Surface-to-Air Missile (QRSAM) systems.

The Army is looking to induct five to six regiments of the homegrown ‘Anant Shastra’ missile system, a sophisticated and mobile surface-to-air platform designed for rapid deployment and interception of aerial threats.

Bharat Electronics (BEL) to Lead the Project

BEL is expected to act as the lead system integrator for the QRSAM systems. As per reports, the execution of this massive order is likely to begin in financial year 2027, with significant implications for BEL’s long-term growth trajectory. The ₹30,000 crore order could take BEL’s order book beyond ₹1 lakh crore for the first time.

Bharat Dynamics (BDL) to Manufacture the Missiles

While BEL will lead the system integration, Bharat Dynamics Ltd. (BDL) is expected to be responsible for missile manufacturing under this project. Sources suggest that BDL could receive orders worth anywhere between ₹10,500 crore and ₹12,000 crore.

This involvement will further strengthen BDL's position as a critical supplier of missile systems in India's defence ecosystem and contribute significantly to its revenue pipeline.

Apollo Micro Systems: Navigation and Computing Role

Apollo Micro Systems is another key player expected to benefit from the QRSAM deal. The company is expected to provide the complete navigation system and onboard computing solutions for the missile systems. Apollo Micro is likely to receive orders in the range of ₹800 crore to ₹1,000 crore. Its current order book stands at ₹735 crore. 

Astra Microwave: Supplying Critical Subsystems

Astra Microwave Products is likely to contribute by supplying key subsystems, including Transmit-Receive (TR) Modules, which are essential for radar and missile systems. Expected order size ranges between ₹1,800 crore and ₹2,000 crore. Astra Microwave’s current order book stands at ₹1,891 crore. 

Also Read: Best EV Stocks in India in October 2025 Based on 5Y CAGR: BEL, Himadri, Tata Motors and More

Axiscades, Data Patterns & Paras Defence

Several other domestic defence players could also play supporting roles in fulfilling the QRSAM order. These include:

• Axiscades Technologies
• Data Patterns
• Paras Defence and Space Technologies

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