Financial Performance (Consolidated)

Q2 FY27 (YoY Comparison):

  • Revenue from Operations: ₹3,881.5 Mn, up 72.3% from ₹2,252.6 Mn in Q2 FY26.
  • EBITDA (excl. Other Income): ₹1,111.8 Mn, up 87.8% from ₹591.9 Mn in Q2 FY26.
  • EBITDA Margin: 28.6%, up from 26.3% in Q2 FY26.
  • PAT: ₹461.5 Mn, up 53.7% from ₹300.3 Mn in Q2 FY26.
  • PAT Margin: 11.9%, down from 13.3% in Q2 FY26.
  • Diluted EPS: ₹1.3, up from ₹0.9 in Q2 FY26.

H1 FY27 (YoY Comparison):

  • Revenue from Operations: ₹6,394.4 Mn, up 78.2% from ₹3,588.5 Mn in H1 FY26.
  • EBITDA (excl. Other Income): ₹1,649.1 Mn, up 64.7% from ₹1,001.3 Mn in H1 FY26.
  • EBITDA Margin: 25.8%, down from 27.9% in H1 FY26.
  • PAT: ₹713.7 Mn, up 49.6% from ₹477.1 Mn in H1 FY26.
  • PAT Margin: 11.2%, down from 13.3% in H1 FY26.
  • Diluted EPS: ₹2.1, up from ₹1.5 in H1 FY26.

Financial Performance (Standalone)

Q2 FY27 (YoY Comparison):

  • Revenue from Operations: ₹3,062.9 Mn, up 36.0% from ₹2,252.6 Mn in Q2 FY26.
  • PAT: ₹477.3 Mn, up 44.4% from ₹330.5 Mn in Q2 FY26.
  • PAT Margin: 15.6%, up from 14.7% in Q2 FY26.

H1 FY27 (YoY Comparison):

  • Revenue from Operations: ₹4,621.8 Mn, up 28.8% from ₹3,588.5 Mn in H1 FY26.
  • PAT: ₹755.6 Mn, up 44.0% from ₹524.7 Mn in H1 FY26.
  • PAT Margin: 16.3%, up from 14.6% in H1 FY26.

Historical Financials (Consolidated)

FY26 Performance:

  • Revenue from Operations: ₹9,043.2 Mn
  • EBITDA: ₹2,181.6 Mn (24.1% margin)
  • PAT: ₹1,073.8 Mn (11.9% margin)
  • Total Assets: ₹23,685.1 Mn
  • Borrowings: ₹5,432.6 Mn
  • Cash and Cash Equivalents: ₹1,561.1 Mn

Order Book & Operational Highlights

The presentation highlights a strong order book as of 30th September 2026, though a specific value is not quantified.

Strategic Updates & Business Overview

Vision 2036: The company aims to become a recognized Global Original Equipment Manufacturer (OEM) across Land, Air, and Sea domains.

Key Capabilities & Uniqueness:

  • Described as a pure-play defence company with end-to-end capabilities in explosives, platforms, weapons, and weapon integration.
  • Holds a license from the Government of India to manufacture high strategic value weapons systems and ammunition.
  • Claims to be the only private listed company with the highest participation in indigenous missile programmes of DRDO.

Acquisitions & Integration:

  • The acquisition of Premier Explosives Ltd and IDL Explosives Ltd is presented as a strategy for backward integration into defence explosives and propellants.

Programme Updates:

  • Multi-Influence Ground Mine (MIGM): DAC approval accorded on 3rd July 2026. The company is the Development cum Production Partner (DcPP).
  • Moored Mines: AoN (Acceptance of Necessity) has been accorded. Programme is entering the production phase.
  • Limpet Mines: Successful trials completed. An embargo on these mines has been imposed by the GOI.
  • Smart Bomb: Awarded a Make-II prototype sanction order by the Indian Air Force for a 500 Kg Smart Bomb in July 2026.
  • Autonomous Systems: Make-II Prototype Sanction Order (PSO) awarded by the Indian Navy for the SAVIOR-ASW semi-submersible autonomous vessel.
  • Directed Energy Weapon (DEW): Entered into agreements for Transfer of Technology for a 10 kW Laser DEW system and an EO Tracking System from DRDO.

Market Context & Tailwinds

The presentation includes extensive data on the global defence landscape, highlighting:

  • A global military expenditure of $2887 billion in 2025.
  • India's Union Budget allocation of ₹7.8 Lakh crore for the Ministry of Defence in FY27, with 75% of the capital acquisition budget reserved for domestic industries.
  • The growing demand for missiles and explosives driven by geopolitical conflicts and inventory replenishment.

Ownership & Leadership

  • Promoters hold approximately 50% of the company.
  • The presentation lists several institutional investors, including Vanguard, State Street, and Motilal Oswal funds.
  • Key leadership includes Mr. Chandrapati Venkata Siva Prasad (Whole Time Director - Technical).

Disclaimer

The document concludes with a standard safe harbor statement, clarifying that it contains forward-looking statements and is for informational purposes only, not constituting an offer to sell securities.