• IPO proceeds deployment: The company is raising ₹160 crore through its IPO, allocating ₹60 crore for capacity expansion to install new CNC machines by November–December, with the remainder dedicated to working capital needs.
• Defense sector expansion: Revenue has shifted heavily toward defense, driven by global demand and supply contracts with 12 Israeli customers for aircraft engines, missiles, and drones, alongside domestic work for the Ministry of Defense.
• QuickPay order receivables: Millworks is manufacturing parts and integrated assemblies for loitering munition drones for defense contractor QuickPay, with pending back-to-back Ministry of Defense receivables expected to arrive by late July or early August.
• Financial growth sustainability: Management expects the margin expansion and strong performance from FY26 to sustain over the next 1 to 3 years, supported by long-term 3-to-5-year contracts and strong order backlogs.