Millworks Technologies Limited announced two key developments through a regulatory filing pursuant to Regulation 30 of SEBI LODR Regulations, 2015.

Purchase Orders from HAL

The company received two developmental purchase orders from Hindustan Aeronautics Limited (HAL):

  • First order from HAL's Overhaul Division for manufacture and supply of Oxygen Valve Assemblies for HAWK aircraft, which form part of the onboard oxygen system of the HAWK advanced jet trainer
  • Second developmental order from HAL's Engine Division, Koraput for Surge Warning Sensor Assemblies for MiG-29 aircraft, which the company is developing for the RD-33 engine that powers the MiG-29 fighter as part of its engine monitoring system

Both assemblies are described as flight-critical, demanding high precision, stringent quality assurance and complete traceability.

MoU with TridenTech Engineering

Millworks signed a Memorandum of Understanding with TridenTech Engineering Private Limited, a Chennai-based engine design and development company located at IIT Madras Research Park. The MoU establishes a framework for:

  • Co-development, manufacturing and marketing of Internal Combustion engines for Unmanned Aerial Vehicles (UAVs)
  • Intended applications include defence, commercial, surveillance, logistics, agricultural and special-mission applications
  • Target markets include both domestic and overseas

Under the arrangement:

  • TridenTech will lead engine design, development, assembly and testing
  • Millworks will lead manufacturing engineering, production and export marketing under a revenue-share arrangement
  • Millworks will retain exclusive rights to the manufacturing processes it develops for engine castings, seals and key components

Company Background

Millworks Technologies Limited 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. The company operates under both Build-to-Print (BTP) and Build-to-Spec (BTS) models, offering full-scope manufacturing as well as job-work services primarily to OEM customers.

Key operational details:

  • Founded in 2021 by Mr. Sridhar Acharya (MD) and Mr. Madhu HK (Whole-Time Director)
  • Four manufacturing facilities in Bengaluru
  • Capabilities include precision CNC machining, sheet metal fabrication, welding, EDM, laser cutting, assembly, and inspection
  • AS9100D and ISO 9001:2015 certified quality systems
  • Listed on BSE SME platform on 21 July 2026

Financial Performance

FY26 financial results disclosed:

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

Management Commentary

Mr. Sridhar Acharya, Managing Director, commented that the HAL orders represent "a significant endorsement of our precision manufacturing capabilities, quality systems and execution track record." Regarding the TridenTech partnership, he stated it "gives us a pathway to take Indian-engineered engines to global markets" and that the company remains "focused on the timely execution of the HAL orders" and looks forward to "working with TridenTech towards developing the first engine prototype."