Submission Details

Financial Performance - FY26

Revenue: ₹319.6 crores, representing 66% YoY growth from FY25

EBITDA: ₹64.2 crores with margins at 20.1%

PAT: ₹39.1 crores, growing 52% YoY with margins at 12.2%

Order Book & Pipeline

Unexecuted Order Book: ₹469 crore as of March-end 2026

Active Bid Pipeline: ₹1,200 crore with historic win ratio of 20-25%

Joint Venture Announcement

Board approved proposed JV with Big Bang Boom Solutions for industrialization of next-generation defense technologies. Intellectual property resides with the JV, targeting commercialization by mid-FY27. The JV will focus on Electronic Warfare (EW) systems, AI-driven autonomous defense platforms, high-precision defense components, advanced materials, and nanotechnology products.

Receivables Update

20% of FY26 receivables have been collected, with 50-60% of outstanding balance expected to be received by end of June 2026.

Forward Guidance

FY27 Revenue Guidance: ₹500 crores

FY27 PAT Margin Guidance: 12-13%

Strategic Focus Areas

  • Deliver high-quality products at competitive prices
  • Increase wallet share with Indian Railways, metro projects, and OEMs
  • Expand production capacity through new 14-acre facility (50,000-1,00,000 sq.ft.)
  • Operationalize defense JV and strengthen qualification for strategic programs
  • Transition to turnkey interior systems provider
  • Plan to launch at least 2 new railway products annually

Manufacturing Facilities

Company operates 5 manufacturing units across Chennai with total area of approximately 141,638 sq. ft.:

  • Unit 1: 6,179 sq. ft. (Keelkattalai, Chennai)
  • Unit 3: 7,200 sq. ft. (Panrutti Village, Sriperumbudur Taluk)
  • Unit 5: 52,259 sq. ft. (Kilkattalai, Kancheepuram)
  • Unit 6A: 32,000 sq. ft. (Aymichert Village, Kancheepuram)
  • Unit 6B: 44,000 sq. ft. (Nathanallur Village, Walajabad Taluk)

Certifications & Approvals

AS91000 & ISO 9001:2015, IRIS Certification ISO/TS 22163:2017, Approved Vendor for HAL, Defence Avionics Research, CVRDE, and Approved Supplier for Indian Railways (IREPS).

Key Management

Chairman & Managing Director: Mr. Venkatesan Dakshinamoorthy (20+ years experience)

Joint Managing Director: Mr. Manikandan Dakshinamoorthy (20+ years experience)

Non-Executive Director: Ms. Nandhini Manikandan

Independent Directors: Mr. Sudhanshu Mani (38+ years Indian railways, led Vande Bharat project), Mr. Tilak Raj Seth (35+ years Siemens Limited)

Whole-Time Director: Mr. Sathishkumar Venkatesan

Historical Financial Trends

FY24 to FY26 Revenue: ₹107.3 crores → ₹229.1 crores → ₹319.6 crores

FY24 to FY26 PAT: ₹16.0 crores → ₹27.1 crores → ₹39.1 crores

Balance Sheet Growth: Total assets increased from ₹190.9 crores (FY24) to ₹402.7 crores (FY26)

Top Order Wins

1. Turnkey interior furnishing - Amrit Bharat LWSCN coaches (ICF, Chennai): ₹73.9 crores

2. Supply of items used in coaches (ACME India Industries Ltd): ₹62.4 crores

3. Interior furnishing - Amrit Bharat coaches (ICF, Chennai): ₹23.9 crores

4. Lighting system for Chennai Metro Rail project (BEML Limited): ₹22.9 crores

5. Roller blind in LHB AC Amrit Bharat version 3.0 coaches (ICF, Chennai): ₹11.8 crores

Project Execution Track Record

Company has executed projects for Vande Bharat (T18), Mozambique Mainline Coaches, Agra-Kanpur Metro, Kolkata Metro, RRTS (NCRTC), Sri Lankan Mainline and DEMU exports (97 coaches' turnkey execution), AC EMU, and various defense projects including AMCA, Hull Assembly for T90, and Medium Ballistic Missile Railway Wagon for DRDO.