For missile accessory contract, defence PSU picks only one firm, set up by its ex-CMD, wife

The locked office of Aindri Defence Advisory Pvt Ltd at the National Small Industries Corporation (NSIC) campus in Kushaiguda, Hyderabad. (Photo credit: Nikhila Henry)

For the first time in three years, Bharat Dynamics Ltd (BDL) has turned to a private company to supply optical sights for its missiles and it has done so raising questions of conflict of interest and propriety.

Citing “urgency,” the Hyderabad-based defence PSU issued a “single tender” — without competition — for the optical sights to a company that its former Chairman and Managing Director Siddharth Mishra and his wife set up after he retired. Today, that company is 95 per cent owned by Mishra’s wife Shambhavi Mishra.

In May this year, BDL issued a “single tender” to Aindri Defence Advisory Private Limited for the supply of 300 optical sights within seven months following the completion of acceptance and validation tests of five sample units supplied by the company. These five units are to be supplied within a month of BDL placing a purchase order.

Aindri Defence Advisory has cleared the technical evaluation stage, according to the Government e-Marketplace portal. It has quoted a price of Rs 56.8 crore for the tender, and financial evaluation of its bid is underway.

The locked office of Aindri Defence Advisory Pvt Ltd at the National Small Industries Corporation (NSIC) campus in Kushaiguda, Hyderabad. (Photo credit: Nikhila Henry)

A “single tender” is a non-competitive route in which only one vendor is invited to bid. Norms allow it only when just one supplier can meet the requirement, or when the need is urgent. This tender also requires the supplier to provide technical support for at least 15 years for maintenance, repair and overhaul of the sights.

Optical sights are a critical part of the aiming and target-acquisition system of an anti-tank guided missile. The operator uses the sight to locate and track the target and to align the missile with it.

Company records show that Aindri Defence Advisory was incorporated in May 2024 by Siddharth Mishra and his wife. Each held 50 per cent. Mishra retired from BDL in March 2023 after four years as its CMD. He was a director and shareholder of the company from its incorporation until January 2025. He left when he was appointed Member (Technical) at the National Company Law Tribunal, Kolkata. Shambhavi now holds 95 per cent and is a director. The other director, Kaushiki Nandan Vatsyayana, holds the remaining 5 per cent. Mishra and Shambhavi did not respond to text messages or calls from The Indian Express seeking comment. The company did not respond to questions emailed to the address provided in its filings with the Registrar of Companies. Vatsyayana said he could not share information about the BDL tender. BDL did not reply to queries from this newspaper.

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The locked office of Aindri Defence Advisory Pvt Ltd at the National Small Industries Corporation (NSIC) campus in Kushaiguda, Hyderabad. (Photo credit: Nikhila Henry)

The 2026 tender marks a major commercial shift. BDL bought the same type of optical sights in 2024 and 2025, but both purchases were competitive and limited to the public sector. The 2024 tender was open only to Central Public Sector Enterprises (CPSEs). The 2025 tender was open to CPSEs and Defence Public Sector Undertakings. Data from the GeM portal shows that India Optel Limited, a Mini Ratna PSU under the Ministry of Defence, won both.

The 2026 tender drops both competition and the public-sector restriction. It is addressed only to Aindri Defence Advisory, making this the first time in the three years of these procurements that the order may go to a private firm.

Explained

Optical sights in anti-tank missiles

Optical sights form a critical component of Anti-Tank Guided Missile (ATGM) systems, enabling operators to detect, identify and track targets. These sights receive infrared radiation from missiles, convert the inputs into electrical signals and transmit them to coordinator units on the ground. An optical sight in this context typically comprises lenses, an eyepiece, a sighting reticle and a housing with protective components, mostly manufactured in India. Bharat Dynamics Ltd's portfolio includes Konkurs-M, a mechanised infantry ATGM manufactured under licence from a Russian company. In 2022, the PSU signed a Rs 3,131.82-crore contract with the Indian Army for the manufacture and supply of Konkurs-M, which can be fired from a specialised infantry combat vehicle or a ground launcher.

BDL cites urgency as its reason for choosing this route: “The competent authority in the Ministry or Department has certified that the demand is urgent, and any additional expenditure involved by not procuring through advertised tender enquiry is justified in view of urgency. The Ministry or Department has placed on record the nature of the urgency and reasons why the procurement could not be anticipated,” the tender states. The reasons, however, are not spelled out.

The shift also shows how the tenders treat Micro and Small Enterprises (MSEs). The 2024 and 2025 tenders were formally exempted from the MSE purchase preference through approvals from the competent authority. The 2026 tender applies it. Under the preference, eligible MSEs and original equipment manufacturers quoting within 15 per cent of the lowest price (L1) can be offered the chance to match L1. If they do, they can win up to 25 per cent of the order quantity.

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An engineer, Mishra served in the Indian Navy for more than three decades until 2016. He then spent three years as a General Manager at Electronics Corporation of India Ltd before joining BDL as CMD in 2019.