DIGILOGIC SYSTEMS LIMITED

Designs and builds Test, Measurement and Simulation (TMS) systems for Indian defence and aerospace, with all revenue routed through government buyers — DRDO, the Ministry of Defence and Defence PSUs. The product portfolio covers checkout systems for satellite and weapon sub-systems, static test jigs, over-the-air TRM characterisation facilities for radar, and a 250-unit deployable spectrum monitoring and analysis system. FY26 revenue was Rs. 77.43 cr against a year-end order book of Rs. 31 cr, with Rs. 22 cr of FY26 orders expected to spill into FY27. A new 80%-owned subsidiary Abhedhya, incorporated in May 2026, is being set up for RF and microwave sub-systems (radar, electronic warfare, communications), with first revenue flagged for FY28. A 65,000 sft greenfield manufacturing facility, Project Udaan, planned at Rs. 59.68 cr investment, broke ground in April 2026 and is targeted for completion around December 2027. Materials account for 52.6% of revenue, making imported hardware the biggest cost line.