NSE: SIGMAADV · BSE: 532408
SIGMA ADVANCED SYSTEM LTD
Manufactures high-precision aerospace and defence components for global customers, with 85% of revenue coming from international markets. The aerospace arm, built around UK subsidiaries Nasmyth Group and the recently acquired Bromford Precision Solutions, supplies aeroengine rings and precision parts to OEMs including Rolls-Royce and Siemens. The defence arm makes munitions; in July 2026 it secured a USD 104.9 million (about INR 1,013 crore) export order for 147,000 units of 155mm base bleed artillery shell bodies from a North American customer, to be delivered over 6 to 12 months. The orderbook is 90% defence and 10% commercial, with long-term contracts running up to 8 years. Manufacturing is being shifted from the UK to a new Sri City facility in India to expand margins. FY26 revenue stood at Rs 491.88 crore with net profit of Rs 268.04 crore; materials at 43% of revenue and employee costs at 29.4% are the largest operating costs. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Aerospace precision components, Defence manufacturing and munitions. Cyclical, asset-heavy precision engineering for aerospace and defence
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 52 | 2 | 0 | 0 | 492 |
| EBITDA (ex other income) | (15) | (17) | (9) | (10) | 37 |
| margin % | (28.4) | (849.9) | — | — | 7.6 |
| Owners' profit | 0 | 9 | (13) | 0 | 268 |
| EPS, as reported (₹) | 0.74 | 1.20 | (1.73) | (4.06) | 15.21 |
| ROE % · ROCE % | 2.5 · 3.5 | 4.6 · 6.3 | (7.1) · 7.4 | (20.8) · 9.0 | 57.2 · 52.8 |
| Debt / equity (x) | 0.14 | 0.75 | 0.80 | 0.95 | 0.64 |
| Cash from operations | 16 | 13 | 42 | 40 | 34 |
| Capex | 0 | (2) | (11) | (17) | (69) |
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 | 0 | 0 | 0 | 0 | 0 | 146 | 323 | 374 |
| Profit before tax | 1 | 4 | 3 | 167 | 1 | 0 | 127 | 49 |
| Net profit | (14) | 6 | (5) | 136 | 1 | (1) | 128 | 35 |
| EPS (₹) | (1.93) | 0.79 | (0.65) | 18.47 | 0.08 | (0.14) | 7.29 | 2.01 |
Exhibit 3: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Sigma Advanced Systems to hold investor meetings on October 30, 2026 | board shareholder meetings | low | — | — |
| 26 Oct 2026 · Sigma wins INR 973 crore order for 155 mm artillery components | compliance | low | — | — |
| 21 Oct 2026 · Sigma secures $19.7M order from North American NATO customer for 155mm ammo subsystems | compliance | low | — | — |
| 14 Oct 2026 · Sigma signs MoU with Munitions India for 155mm artillery tech | strategic transactions | high | — | — |
| 7 Oct 2026 · Quarterly Compliance Certificate for Share Dematerialisation - Sep 2026 | compliance | minimal | — | — |
| 30 Sept 2026 · 26th AGM: All resolutions passed; strong aerospace-defence growth update | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Trading window closure intimation by Sigma Advanced Systems | compliance | minimal | — | — |
| 30 Sept 2026 · 26th AGM Concluded: PAT of Rs 268 Crore, Three Acquisitions, Rolls-Royce Contracts | board shareholder meetings | medium | — | — |
| 11 Sept 2026 · Investors to visit Sigma Advanced Systems Sri City plant on Sept 11 | board shareholder meetings | low | — | — |
| 10 Sept 2026 · Notice of 26th AGM on September 30, 2026; FY 25-26 annual report filed | board shareholder meetings | medium | — | — |
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.