NSE: DYNAMATECH · BSE: 505242
DYNAMATIC TECHNOLOGIES
Builds specialised industrial products across three segments — Aerospace, Hydraulics, and Metallurgy. For FY26, Aerospace contributed 48% of revenue, Hydraulics 30%, and Metallurgy 22%, with Aerospace revenue growing 27.6% to ₹7,756.1 million on the back of Airbus programmes and a new composites partnership with Hutchinson. Hydraulics, which makes hydraulic components, grew 6.4% with EBITDA up 48.5% as the company restructured its UK operations (with ₹1,330 lakhs of restructuring costs booked). Metallurgy serves German automotive customers and saw EBITDA fall 71.8% due to weak German automotive demand and high energy costs. Q4 FY26 segment revenue split was Aerospace 50.4% (₹395.05 cr) and Hydraulics 49.6% (₹388.63 cr). The company has also formed Dynauton Systems, partnering with German firm Aerodata to develop the AeroForce X unmanned aerial system with up to 40 hours endurance for surveillance missions. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Aerospace (48%), Hydraulics (30%), Metallurgy (22%). Cyclical, multi-segment industrial manufacturer with aerospace growth offsetting auto and UK restructuring drag
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,253 | 1,316 | 1,429 | 1,404 | 1,621 |
| EBITDA (ex other income) | 169 | 181 | 222 | 158 | 155 |
| margin % | 13.5 | 13.8 | 15.5 | 11.3 | 9.6 |
| Owners' profit | 0 | 0 | 122 | 0 | 0 |
| EPS, as reported (₹) | 24.40 | 67.32 | 179.40 | 63.39 | 47.73 |
| ROE % · ROCE % | 4.1 · 12.2 | 7.9 · 13.2 | 18.2 · 19.9 | 6.0 · 10.9 | 4.1 · 9.2 |
| Debt / equity (x) | 1.42 | 1.14 | 0.69 | 0.63 | 0.67 |
| Cash from operations | 107 | 131 | 97 | 144 | 95 |
| Capex | (58) | (85) | (75) | (67) | (66) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 361 | 315 | 381 | 371 | 392 | 425 | 433 | 425 |
| Profit before tax | 16 | 8 | 19 | 15 | 12 | 8 | 15 | 26 |
| Net profit | 12 | 4 | 16 | 11 | 3 | 6 | 13 | 21 |
| EPS (₹) | 17.72 | 5.20 | 23.70 | 15.86 | 4.87 | 8.50 | 18.50 | 30.62 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Hydraulics | 487 | 30.1 |
| Aerospace | 776 | 47.8 |
| Metallurgy | 358 | 22.1 |
| Others | 0 | 0.0 |
| Total, before eliminations | 1,621 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 46,904 | 97.4 | 24.99 | 80.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,105 | 81.2 | 9.82 | 52.4 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 26,932 | 49.1 | 6.04 | — | 11.8 | 15.5 | — | 18.2 |
| JYOTI CNC AUTOMATION LTD | 21,121 | 65.7 | 10.55 | 37.3 | 16.8 | 19.2 | — | 22.2 |
| KAYNES TECHNOLOGY IND LTD | 20,995 | 60.6 | 4.41 | 29.9 | 7.6 | 9.8 | — | 17.1 |
| LMW LIMITED | 17,483 | 100.1 | 6.10 | 56.6 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 13,085 | 459.6 | 3.84 | 39.1 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,360 | 48.5 | 7.34 | 50.4 | 11.7 | 11.5 | — | 15.0 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 195.6 | 26.7 | 122 of 130 | 6% |
| P/B | 10.5 | 3.1 | 97 of 112 | 14% |
| ROCE | 4.3 | 11.3 | 108 of 142 | 24% |
| ROE | 4.1 | 9.8 | 87 of 113 | 23% |
| Debt / Equity | 0.7 | 0.2 | 92 of 113 | 19% |
| EBITDA margin | 14.4 | 12.4 | 49 of 110 | 56% |
| Revenue growth | 14.5 | 20.6 | 67 of 114 | 42% |
| Profit growth | 93.0 | 17.1 | 31 of 109 | 72% |
| Market cap | 8298 | 273 | 10 of 141 | 94% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 24 Oct 2026 · Dynamatic approves Dynauton share issue and transfer of UAV business | fund raising | high | — | — |
| 15 Oct 2026 · Routine compliance certificate from registrar for Q2 FY27 | compliance | minimal | — | — |
| 15 Oct 2026 · Credit rating affirmed at IND A with Stable outlook | credit debt | medium | — | — |
| 28 Sept 2026 · Trading Window Closure from October 1, 2026 | compliance | minimal | — | — |
| 15 Sept 2026 · 51st AGM: All 5 resolutions passed, dividend declared, CEO re-appointed | board shareholder meetings | medium | — | — |
| 15 Sept 2026 · Dynamatic Technologies 51st AGM: All 5 resolutions approved | board shareholder meetings | medium | — | — |
| 28 Aug 2026 · Special window for physical share transfer and demat till Feb 2027 | compliance | minimal | — | — |
| 28 Aug 2026 · Special window for physical share transfer and demat until Feb 2027 | compliance | minimal | — | — |
| 21 Aug 2026 · Newspaper publication of 51st AGM notice and e-voting information | compliance | minimal | — | — |
| 21 Aug 2026 · Dynamatic Technologies sends annual report weblink to shareholders | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.