JTL DEFENCE LIMITED

Manufactures non-ferrous metal products, including copper and brass alloy strips, foils, and stainless steel products, from its facility in Baddi, Himachal Pradesh. Output is supplied into defence, electrical, and industrial applications. Revenue in FY26 was ₹19.29 crore, against a net profit of ₹0.27 crore and EBITDA margin of 30.83%. Earnings come from two activities: direct sales of its own manufactured products and job work for third parties. In Q1 FY27, total processing volume was 300 MT, of which 209 MT was sold and 91 MT was processed as job work, a roughly 38% rise from the 217 MT handled in Q4 FY26. The cost structure is dominated by raw materials, reported at 170.5% of FY26 revenue, which points to a thin spread on metal inputs. Depreciation accounts for 24.9% of revenue and capex for 40.8%, indicating an asset-heavy setup with significant reinvestment. Total assets stood at ₹330.47 crore at FY26.