Financial Performance Summary

Quarterly Results (Q2 FY27)

  • Consolidated Operational Revenue: Rs. 417.07 crore, up 11.43% quarter-on-quarter from Rs. 374.27 crore in Q1 FY27
  • Consolidated Operational EBITDA: Rs. 82.28 crore, representing a margin of 19.73%, up 35.06% quarter-on-quarter from Rs. 61 crore in Q1 FY27
  • Profit After Tax: Rs. 48.60 crore, up 37.24% quarter-on-quarter from Rs. 35.41 crore in Q1 FY27
  • Gross Margin: 66.32%

Half-Yearly Results (H1 FY27)

  • Consolidated Operational Revenue: Rs. 791.34 crore
  • Consolidated Operational EBITDA: Rs. 143.20 crore
  • Profit After Tax: Rs. 84.01 crore

Note: Given significant expansion in scale of operations and changes in business composition throughout FY26, H1 FY27 performance is not directly comparable with H1 FY26.

Business Highlights and Strategic Developments

Acquisitions and Partnerships

  • Bromford Precision Acquisition: Completed acquisition of 100% of Bromford Precision Solutions Limited on July 14, 2026 for Enterprise Value of GBP 11.89 million (approximately Rs. 153 crore)
  • Rolls-Royce Agreements: Secured two long-term agreements with Rolls-Royce totaling nearly GBP 425 million (approximately Rs. 5400 crore)
  • GBP 300 million agreement signed in April 2026 (approximately Rs. 3800 crore)
  • Additional GBP 125 million agreement secured post-acquisition (approximately Rs. 1600 crore)
  • Strategic Collaboration: Signed exclusive MoU with Munitions India Limited on October 14, 2026 for integration, indigenous manufacturing and supply of 155 mm artillery course correction fuses

Manufacturing Expansion

  • Sri City Facility: Commenced operations following successful transfer of work from UK operations
  • First Deliveries: Produced and delivered first batch of aerospace components to Nasmyth's UK customers

Major Order Wins (Aggregating Rs. 3,915 crore since July 2026)

1. Ammunition Export Order (July 27, 2026): USD 104.9 million (approximately Rs. 1,013 crore) from North American customer for manufacture and supply of 155 mm base bleed artillery shell bodies (execution: 6-12 months)

2. Artillery Ammunition Subsystems (October 21, 2026): USD 19.7 million (approximately Rs. 174 crore) from North American NATO customer for 155 mm artillery ammunition subsystems (scheduled execution by Q2 2027)

3. Base Bleed Units (October 26, 2026): USD 102.23 million (approximately Rs. 973.64 crore) from NATO customer for Base Bleed Units (execution: 12 months)

4. Indrajaal Ranger Orders (August 17, 2026): Orders aggregating approximately Rs. 155 crore from Government of India for Indrajaal Ranger anti-drone patrol vehicle

Awards and Recognition

  • Boeing Innovation Award: Nasmyth received Innovation Award at 2026 Global Boeing Supplier Summit in Seattle for R&D work

Fundraising

  • Preferential Allotment: Completed preferential allotment of Rs. 460 crore at Rs. 347 per share in August 2026
  • Participants: Mutual funds and other investors
  • Purpose: Supports growth initiatives including strategic acquisitions

Management Commentary

Sunil Kalidindi, CEO and Executive Director: "This has been a productive quarter for Sigma. The Bromford Precision acquisition gives us a stronger footing with global aerospace OEMs, and the second Rolls-Royce agreement came within weeks of it closing. Our Sri City facility is running and has already turned out its first batch of components and supplied to its aerospace customers. Orders from our NATO customer adds to a growing ammunition business, and it shows that customers come back to us because we deliver on what we commit to. Margins were healthy through August and September, and we go into the second half with a strong order book and the capacity to keep growing."

Company Overview

Sigma Advanced Systems Limited is an Indian aerospace and defence precision engineering company listed on BSE and NSE. The company designs, develops and manufactures mission-critical systems across aerospace, avionics, naval systems, radars, communication systems and ammunition. Through UK subsidiaries Nasmyth and Bromford, Sigma has established a strong presence in the global aerospace supply chain.