NSE: ROSSTECH · BSE: 544294
ROSSELL TECHSYS LIMITED
Manufactures precision-engineered systems and sub-assemblies for aerospace, defense, space, and semiconductor customers, with FY26 revenue nearly doubling to ₹485.12 crore (+87% YoY) at an EBITDA margin of 13.75%. The cost base is dominated by materials at 64% of revenue, followed by employee costs at 17.1% and other operating expenses at 7.6%. Strategic agreements aggregating ~₹3,000 crore and confirmed POs of ~₹715 crore give three-year revenue visibility, anchored by the Boeing T-7 trainer aircraft program, a ~₹400 crore multi-year space contract, and a semiconductor business that contributed ~20% of FY26 revenue. The company recently secured a domestic MRO (Maintenance, Repair and Overhaul) license, opening a new market. Workforce has expanded from 680 two years ago to ~1,200, supported by a newly-leased 210,000 sq ft adjacent facility, with a further Bengaluru Aerospace Park facility targeted for H2 FY27. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Aerospace and Defense, Space, Semiconductor, MRO (Maintenance, Repair and Overhaul), Electromechanical integrated systems (Phase 2). Asset-heavy precision engineering and manufacturing for aerospace, defense, space and semiconductor applications, scaling rapidly from a low revenue base.
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 260 | 485 |
| EBITDA (ex other income) | 35 | 62 |
| margin % | 13.5 | 12.7 |
| Owners' profit | 0 | 0 |
| EPS, as reported (₹) | 2.10 | 5.81 |
| ROE % · ROCE % | 5.9 · 19.6 | 14.1 · 32.7 |
| Debt / equity (x) | 1.80 | 2.64 |
| Cash from operations | (42) | (83) |
| Capex | (2) | (18) |
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 | 51 | 76 | 164 | 87 | 125 | 130 | 142 | 154 |
| Profit before tax | (0) | 7 | 17 | 4 | 7 | 7 | 10 | 10 |
| Net profit | (0) | 5 | 12 | 3 | 6 | 5 | 8 | 7 |
| EPS (₹) | (0.03) | 1.38 | 3.20 | 0.87 | 1.50 | 1.43 | 2.00 | 1.89 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| HINDUSTAN AERONAUTICS LTD | 3,24,358 | 34.8 | 7.90 | 23.8 | 22.2 | 13.7 | 7.8 | 44.0 |
| BHARAT ELECTRONICS LTD | 2,66,259 | 43.4 | 11.09 | 30.7 | 25.3 | 31.9 | 14.4 | 28.1 |
| BHARAT DYNAMICS LIMITED | 36,381 | 69.8 | 8.58 | — | 9.9 | 7.2 | — | 32.6 |
| DATA PATTERNS INDIA LTD | 22,316 | 83.3 | 12.86 | — | 15.6 | 20.3 | — | 33.3 |
| GARDEN REACH SHIP&ENG LTD | 21,752 | 27.2 | 8.28 | — | 28.5 | 36.2 | — | 13.7 |
| APOLLO MICRO SYSTEMS LTD | 15,340 | 119.3 | 11.73 | 70.3 | 8.2 | 10.4 | 34.8 | 22.3 |
| ASTRA MICROWAVE LTD | 14,940 | 79.0 | 11.36 | 42.7 | 14.7 | 17.2 | 12.7 | 20.1 |
| AEQUS LIMITED | 14,225 | — | 9.58 | 90.4 | (7.6) | (3.8) | — | 5.4 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 210.4 | 69.8 | 21 of 23 | 9% |
| P/B | 34.9 | 9.6 | 23 of 23 | 0% |
| ROCE | 17.7 | 13.6 | 9 of 26 | 68% |
| ROE | 14.1 | 10.9 | 9 of 23 | 64% |
| Debt / Equity | 2.6 | 0.0 | 23 of 23 | 0% |
| EBITDA margin | 15.2 | 22.3 | 16 of 23 | 32% |
| Revenue growth | 77.1 | 24.9 | 4 of 23 | 86% |
| Profit growth | 116.5 | 14.9 | 4 of 21 | 85% |
| Market cap | 5409 | 6504 | 16 of 26 | 40% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · NSE seeks clarifications for Rossell Techsys preferential issue | capital market events | medium | — | — |
| 16 Oct 2026 · EGM approves preferential equity share issue with 99.99% majority | board shareholder meetings | medium | — | — |
| 15 Oct 2026 · Rossell Techsys EGM proposes preferential equity share issue resolution | board shareholder meetings | low | — | — |
| 10 Oct 2026 · Corrigendum to EGM Notice for October 15, 2026 Meeting | compliance | minimal | — | — |
| 10 Oct 2026 · Compliance certificate under SEBI Regulation 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 9 Oct 2026 · Corrigendum to EGM notice for preferential issue of 25.7 lakh shares | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading window closed from Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 26 Sept 2026 · Rossell Techsys AGM: 5 Resolutions Passed, Final Dividend of INR 0.30 Declared | board shareholder meetings | low | — | — |
| 24 Sept 2026 · Rossell Techsys 4th AGM: revenue up 87 percent to Rs 485 crores | board shareholder meetings | medium | — | — |
| 23 Sept 2026 · Rossell Techsys advertises EGM notice in newspapers | 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.