• EBITDA margin expansion: Strong Q4 growth—with revenue up 82% and EBITDA up 91%—is expected to sustain, with room for margins to expand beyond the current 22–23% range as high-margin production orders and varied product mixes ramp up.
• IDL turnaround timeline: Following its acquisition on November 15 for backward integration, IDL is undergoing organizational restructuring and is expected to show operational and profitability recovery starting in Q2.
• Order book pipeline: The order book stood at over ₹1,400 crore as of March 31, backed by a robust pipeline from the Ministry of Defence, DRDO, and subcontracts with large-cap system integrators.
• Manufacturing capacity expansion: The company is developing a 5.5 to 6 lakh square foot facility on a 10.6-acre site, targeting Phase 1 possession between June and August and full completion within the current financial year.
• Supply chain resilience: There are no immediate supply chain bottlenecks, and the company’s in-house design and technology development capabilities enable it to resolve any component shortages internally.