Summary of Key Information:

Reporting Period (Quarter/Year): Quarter and Half Year ended 30th September 2026 (Q2 FY27)

Nature of Filing / Announcement: Outcome of Board Meeting pursuant to Regulation 30 and 33 of SEBI (LODR), 2015

Audit Opinion:

Clean / Unmodified opinion. The statutory auditors, CNK & Associates LLP, expressed an unmodified conclusion on both the standalone and consolidated financial results.

Key Financial Highlights [Amounts in ₹ Lakhs]:

Standalone Results:

Revenue from Operations:

  • Q2 FY27: ₹7,529.34
  • Q1 FY27: ₹5,759.93
  • Q2 FY26: ₹4,836.33
  • YoY Growth: 55.7%
  • QoQ Growth: 30.7%

Total Income:

  • Q2 FY27: ₹7,700.15
  • Q1 FY27: ₹5,853.89
  • Q2 FY26: ₹4,900.88

Net Profit:

  • Q2 FY27: ₹1,512.05
  • Q1 FY27: ₹1,166.85
  • Q2 FY26: ₹686.13
  • YoY Growth: 120.4%
  • QoQ Growth: 29.6%

EPS:

  • Basic EPS: ₹10.12 (Q2 FY27), ₹7.81 (Q1 FY27), ₹4.58 (Q2 FY26)
  • Diluted EPS: ₹10.08 (Q2 FY27), ₹7.80 (Q1 FY27), ₹4.54 (Q2 FY26)

Other Equity:

  • As of 30th September 2026: ₹20,056.86 lakhs
  • As of 31st March 2026: ₹17,521.40 lakhs

Cash and Cash Equivalents:

  • As of 30th September 2026: ₹116.93 lakhs
  • As of 31st March 2026: ₹602.91 lakhs

Debt:

  • Short-term borrowings: ₹537.96 lakhs (30th Sep 2026), ₹159.84 lakhs (31st Mar 2026)
  • Long-term borrowings: ₹45.09 lakhs (30th Sep 2026), ₹46.00 lakhs (31st Mar 2026)
  • Total Debt: ₹583.05 lakhs (30th Sep 2026), ₹205.84 lakhs (31st Mar 2026)

Consolidated Results:

Revenue from Operations:

  • Q2 FY27: ₹7,529.34
  • Q1 FY27: ₹5,759.93
  • Q2 FY26: ₹4,836.33

Net Profit attributable to owners:

  • Q2 FY27: ₹1,535.83
  • Q1 FY27: ₹1,144.42
  • Q2 FY26: ₹891.78
  • YoY Growth: 72.2%
  • QoQ Growth: 34.2%

EPS:

  • Basic EPS: ₹10.28 (Q2 FY27), ₹7.66 (Q1 FY27), ₹5.99 (Q2 FY26)
  • Diluted EPS: ₹10.24 (Q2 FY27), ₹7.65 (Q1 FY27), ₹4.54 (Q2 FY26)

Other Equity:

  • As of 30th September 2026: ₹20,390.73 lakhs
  • As of 31st March 2026: ₹17,859.32 lakhs

Cash and Cash Equivalents:

  • As of 30th September 2026: ₹315.71 lakhs
  • As of 31st March 2026: ₹602.91 lakhs

Segment-wise Performance:

The company has only one reportable operating segment: Defence Products Segment. The Other Products Segment does not meet the quantitative thresholds for separate reporting under Ind AS 108.

Corporate Actions:

Dividend:

  • The Board declared an interim dividend of ₹0.75 per equity share of ₹10 each (7.5%) for FY 2026-27.
  • Record date fixed: 5th November 2026

Other Significant Information:

ESOP Details:

  • The company granted 63,356 stock options to employees on 11th November 2024, vesting 25% each year over four years.
  • During the quarter, 14,352 stock options were exercised by employees.
  • Options outstanding as of 30th September 2026: 28,728 options
  • Exercise price: ₹304 per share (Face Value: ₹10 per share)
  • Share-based payment expense recognized: ₹11.42 lakhs for the quarter

Subsidiary Investment:

  • During previous quarter (Q1 FY27), the company subscribed to 51% equity shares of M/s Krishna Vabo Defence Composites Private Limited.
  • As of 30th September 2026, no consideration had been remitted for this share subscription.

Subsidiary and Associate Performance:

  • Includes financial results of one subsidiary (Xsub Robotics Private Limited) and three associates (Waveoptix Defence Solutions Private Limited, Conceptia Software Technologies Private Limited, Taharabadkar Solutions Private Limited).
  • Subsidiary showed net loss of ₹8.17 lakhs for the half year ended 30th September 2026.
  • Associates contributed net loss share of ₹13.56 lakhs for the half year ended 30th September 2026.