Company Background

Millworks Technologies Limited (BSE: 544826) is a Bengaluru-based precision engineering manufacturer providing machined components, sheet metal parts, and integrated assemblies for mission-critical applications across railways, aerospace, defence, and semiconductor sectors. Founded in 2021 by Mr. Sridhar Acharya (MD) and Mr. Madhu HK (Whole-Time Director). The company operates under both Build-to-Print (BTP) and Build-to-Spec (BTS) models, offering full-scope manufacturing and job-work services primarily to OEM customers.

Center of Excellence Details

Location: Company's facility in Bengaluru

Equipment: Seven machines in total including:

  • Markforged FX10 industrial composite printer
  • Markforged Mark Two (Gen 2) continuous fibre printer
  • Formlabs Form 4L and Form 4 resin printers with complete post-processing packages
  • MetaForm 700 FDM large-format printer
  • 3DeVOK MT 3D scanner for reverse engineering and dimensional inspection

Technology Platform: Runs on Markforged's Digital Forge platform connecting industrial 3D printers, engineering-grade materials and enterprise software

Capabilities

  • Composite materials: Continuous Carbon Fibre, Kevlar, Fiberglass and High-Temperature Fiberglass
  • Resin printing: high-resolution and large-format parts on Formlabs Form 4 and Form 4L
  • End-to-end workflow: design, printing, post-processing and 3D scanning, all in-house
  • Applications: functional prototypes, development parts, fixtures and tooling for aerospace and defence programmes

Management Commentary

Mr. Sridhar Acharya, Managing Director, stated: "The Markforged Centre of Excellence adds a strong new capability to Millworks. Customers increasingly expect development parts within short timelines. With industrial 3D printers and in-house composite and resin printing capability, we can now produce functional prototypes faster than conventional routes allow."

Strategic Rationale

For shareholders, the Centre is described as a strategic investment in the quality and visibility of future revenue. Aerospace and defence programmes typically run for many years, so each qualification can support long-term, recurring business for precision machining operations. The company remains focused on disciplined growth that creates sustainable, long-term value for all stakeholders.

Financial Context

The Company reported for FY26:

  • Total income: ₹153.40 crore
  • EBITDA: ₹56.65 crore
  • Net profit: ₹37.06 crores
  • Export revenue: 27.47% from customers across twelve countries

Operational Details

The company has four manufacturing facilities in Bengaluru with capabilities in precision CNC machining, sheet metal fabrication, welding, EDM, laser cutting, assembly, and inspection. Operations are supported by AS9100D and ISO 9001:2015 certified quality systems.

Corporate History

Millworks Technologies was listed on the BSE SME platform on 21 July 2026.