1. Phase 1 integrated capex commissioning - The ₹150 Cr expansion, which lifts forging capacity from 18,000 to 40,000 MT/yr, machining from 8,400 to 33,000 MT/yr, and adds 48,000 MT/yr of in-house ingot, is on track for commissioning on 15 June 2026. This removes the near-100% utilisation bottleneck that capped volumes through FY26, and management expects triple-digit growth over the next 2-3 years once the capex becomes fully operational.
2. In-house ingot backward integration - Phase 1 adds 48,000 MT/yr of ingot capacity from a standing start, eliminating dependence on external ingot supply. Captive ingot is a prerequisite for customer approvals in aerospace and defence, and it protects margins that were previously shared with third-party suppliers.
3. Order book secured ahead of Phase 1 - Order booking has already been secured ahead of the 15 June 2026 commissioning, providing headroom for volume-led growth from FY27. Revenue contribution from the new capacity is expected from Q4 FY 2025-26, meaning the ramp-up is de-risked by confirmed demand rather than aspirational targets.
4. Boiler steel approval and premium pricing - The company received recognition under the Indian Boiler Regulations, 1950 on 9 July 2025, enabling it to manufacture forged items for boiler applications. This approval, received during FY26, unlocks premium pricing in a regulated segment with limited qualified suppliers.
5. Mitsubishi Heavy Industries JV supply order - On 16 July 2025, the company received an order of approximately ₹5.46 Cr from a reputed customer, which is a joint venture of Mitsubishi Heavy Industries and Partners, for high-performance roller segments. The order validates Amic's technical capability to serve demanding Japanese-origin supply chains and opens a recurring revenue stream with a blue-chip counterparty.
6. Phase 2 open-die forging press - A proposed Phase 2 expansion anchored by a 5,000-ton open-die hydraulic forging press and 40-ton manipulator carries an expected capex of approximately ₹165 Cr and targets aerospace, nuclear, advanced defence, and heavy oil & gas. Execution readiness is on the FY27 agenda, and the press size signals a move into large, high-margin forgings that few domestic players can produce.
7. Ammunition manufacturing unit - The Board approved construction of an ammunition manufacturing unit at an estimated cost of ₹60 Cr, primarily for cartridge production, along with the purchase of 3.5 bigha of land for ₹2.5 Cr. This diversifies the company into a defence end-product segment with government procurement-driven demand visibility.
8. ₹217 Cr warrant issuance to institutional investors - On 11 May 2026, the Board approved issuance of up to 14.22 lakh warrants at ₹1,525 per warrant (aggregating up to ₹217 Cr) to 11 non-promoter allottees, including Motilal Oswal Financial Services Limited, Mukul Mahavir Agarwal, and Calliope Capital Advisors LLP. The 25% upfront payment brings immediate cash, while the balance 75% payable on conversion within 18 months funds the Phase 2 and ammunition capex pipeline without immediate equity dilution.