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Kavveri Defence & Wireless Technologies Ltd

KAVDEFENCE
NSE
65.24
0.78%
Last Updated:
29 Apr '26, 4:00 PM
Company Overview
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Kavveri Defence & Wireless Technologies Ltd

KAVDEFENCE
NSE
65.24
0.78%
29 Apr '26, 4:00 PM
Company Overview
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6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
392Cr
Close
Close Price
65.24
Industry
Industry
Telecommunications - Equipment
PE
Price To Earnings
27.88
PS
Price To Sales
24.98
Revenue
Revenue
16Cr
Rev Gr TTM
Revenue Growth TTM
74.44%
PAT Gr TTM
PAT Growth TTM
104.41%
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Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
000101178421
Growth YoY
Revenue Growth YoY%
-88.0-80.3-48.0-25.3-80.6106.7233.3847.311,614.3530.661.5-78.7
Expenses
ExpensesCr
20711101159322
Operating Profit
Operating ProfitCr
-2070000002-110-1
OPM
OPM%
-57,483.3-73.3-110.3-32.4-428.63.232.331.9-7.326.6-2.9-41.6
Other Income
Other IncomeCr
24000000004010
Interest Expense
Interest ExpenseCr
000000000000
Depreciation
DepreciationCr
-100000000000
PBT
PBTCr
340000002410-1
Tax
TaxCr
100000000000
PAT
PATCr
330000002410-1
Growth YoY
PAT Growth YoY%
713.274.719.6-3.5-101.4115.0229.7836.7920.03,500.0-2.1-127.2
NPM
NPM%
9,180.6-66.7-94.9-40.5-642.94.836.931.545.027.622.4-40.3
EPS
EPS
16.4-0.1-0.2-0.1-0.20.00.21.11.80.50.1-0.2

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
524125156546321716
Growth
Revenue Growth%
-69.8-21.3-37.3-42.2-62.0-18.6-9.035.5-49.6-43.9979.6-8.3
Expenses
ExpensesCr
393524271056721131516
Operating Profit
Operating ProfitCr
1351-12-5-1-2-1-208-120
OPM
OPM%
24.713.34.0-84.0-81.0-12.2-41.4-21.6-7,371.5-71.912.1-1.5
Other Income
Other IncomeCr
-24611111241055
Interest Expense
Interest ExpenseCr
27252020131313130000
Depreciation
DepreciationCr
2020181743320000
PBT
PBTCr
-37-35-31-47-21-16-17-1532-165
Tax
TaxCr
100-17-211030000
PAT
PATCr
-38-35-32-301-18-16-1831-165
Growth
PAT Growth%
-0.26.710.65.7102.6-2,403.67.0-10.1274.1-104.2580.0-27.6
NPM
NPM%
-73.4-87.0-124.0-202.413.7-388.3-396.9-322.61,114.9-84.237.429.6
EPS
EPS
-18.8-17.5-15.7-14.80.4-8.8-8.2-9.015.6-0.73.22.3

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
202020202020202020202034
Reserves
ReservesCr
935833318-47-932273338
Current Liabilities
Current LiabilitiesCr
39647150139229031222723827383744
Non Current Liabilities
Non Current LiabilitiesCr
76828975252729240000
Total Liabilities
Total LiabilitiesCr
5856326434913533552852757985123132
Current Assets
Current AssetsCr
30036838228123522017216027294727
Non Current Assets
Non Current AssetsCr
285264262210118135113115525676105
Total Assets
Total AssetsCr
5856326434913533552852757985123132

Cash Flow

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
-2-281715-2630-1124-19-111
Investing Cash Flow
Investing Cash FlowCr
-113021-2119-643-5-21
Financing Cash Flow
Financing Cash FlowCr
1423-13-1624-9-11-18-241833
Net Cash Flow
Net Cash FlowCr
2-241-10-300113
Free Cash Flow
Free Cash FlowCr
-31-281717-2730224-19-110
CFO To PAT
CFO To PAT%
4.978.0-53.4-51.2-3,398.5-170.165.5-134.3-59.2849.710.1
CFO To EBITDA
CFO To EBITDA%
-14.4-508.31,654.4-123.3575.7-5,396.1628.7-2,007.49.0995.231.1

Ratios

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
28312621124421102394
Price To Earnings
Price To Earnings
0.00.00.00.015.80.00.00.00.30.014.7
Price To Sales
Price To Sales
0.60.81.01.42.20.80.93.73.514.75.5
Price To Book
Price To Book
0.30.40.50.90.30.20.11.90.20.51.8
EV To EBITDA
EV To EBITDA
15.646.2235.9-22.7-52.6-417.6-122.7-190.2-0.1-18.247.6
Profitability Ratios
Profitability Ratios
GPM
GPM%
85.072.380.886.565.368.945.146.940.438.850.0
OPM
OPM%
24.713.34.0-84.0-81.0-12.2-41.4-21.6-7,371.5-71.912.1
NPM
NPM%
-73.4-87.0-124.0-202.413.7-388.3-396.9-322.61,114.9-84.237.4
ROCE
ROCE%
-3.3-3.4-4.3-9.4-2.8-1.2-1.4-0.960.3-2.88.9
ROE
ROE%
-33.5-45.0-59.4-127.42.0-111.3-59.9-162.660.3-2.812.0
ROA
ROA%
-6.5-5.6-4.9-6.00.2-5.0-5.8-6.639.9-1.65.2
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** Kavveri Defence & Wireless Technologies Ltd (formerly Kavveri Telecom Products Limited) is a leading Indian manufacturer of advanced wireless hardware and RF solutions for mission-critical applications in defence, aerospace, industrial automation, telecommunications, and space. With over 25 years of operational experience and more than 500 R&D man-years, the company has established itself as India’s largest transnational manufacturer of antennas and RF components, serving global clients across four continents. The company is deeply aligned with national initiatives such as *Make in India* and *Atmanirbhar Bharat*, emphasizing indigenous design, development, and manufacturing of high-performance wireless systems. It operates under an engineering-first, customization-led philosophy, differentiating itself from standardized product vendors through tailored, high-reliability solutions. --- ### **Strategic Expansion & Operational Transformation (Oct 2025 Update)** - **New Manufacturing Facility in Bengaluru**: Kavveri is expanding its production footprint at its Surajakkanahalli campus in Bengaluru with a new 10,000 sq. ft. manufacturing facility, scalable up to 50,000 sq. ft. This expansion aims to significantly enhance production capacity, improve supply chain resilience, and meet rising domestic and international demand. - **R&D Center Repurposing**: The company’s current headquarters will be transformed into a dedicated **R&D Centre**, equipped with advanced infrastructure including: - Antenna design labs - RF testing and simulation clusters - Low-volume prototype production lines This strategic shift separates innovation from manufacturing, enabling faster prototyping, improved design agility, and accelerated time-to-market. --- ### **Core Business Segments & Market Focus** Kavveri serves a diversified range of high-growth, performance-critical sectors: #### **Defence & Aerospace** - Designs and manufactures advanced RF solutions including: - **Penta-band and multiband high-gain antennas** (e.g., world-first penta-band antenna for counter-drone systems, Dec 2024) - Naval notch filters, SATCOM-on-the-move antennas, and space-qualified systems - Phased array, counter-UAS, and border surveillance antennas - Key applications: Electronic warfare, satellite communications (SATCOM), lunar exploration, drone detection, and radar support. - Recognized by a major U.S. counter-drone leader for designing the **world’s first complex penta-band high-gain antenna**, reinforcing its leadership in emerging defence technologies. #### **Industrial & Civilian Sectors** - Provides robust RF networks for: - Oil & gas, mining, transport, utilities, and industrial automation - SCADA/AMI networks, railroad transport, airport communications - Fixed Wireless Access (FWA) and telecom modernization in rural/urban infrastructure - Growing focus on high-potential verticals: - **Counter-drone systems** - **Industrial IoT** - **Private wireless networks** - **Critical infrastructure monitoring** #### **Telecom & Connectivity** - Offers turnkey solutions for GSM, CDMA, and 5G network enhancement - Delivers intelligent indoor coverage via repeater systems for enterprises - Recently developed the **'8 Port Dual Band Panel Antenna'** (2 GHz & 3 GHz) for the Australian market — a globally first-of-its-kind product aimed at increasing regional footprint. --- ### **Product Portfolio** Kavveri’s comprehensive suite of wireless subsystems includes: #### **Antennas (2 MHz – 20 GHz)** - Omnidirectional, directional, Yagi, dipole, sectoral, flatomni, and custom multiband antennas - Specialized designs for tactical comms, aerospace telemetry, counter-drone arrays, and SATCOM - High gain, wide beamwidth, ruggedized designs for harsh environments #### **RF Filters & Components (up to 18 GHz)** - Bandpass, high-pass, low-pass, multiple-window filters - Duplexers, combiners, tunable dual-cavity filters for military and airband use - High isolation, selectivity in congested RF environments #### **Passive RF Components** - Isolators, circulators, power dividers, RF switches, couplers, splitters - Custom integration for platform-specific and space-constrained applications #### **Performance Attributes** - Wide frequency coverage - Low VSWR, consistent gain across bands - Mechanical ruggedization for mobile and outdoor deployment - Indigenous manufacturing compliant with global standards --- ### **Global Presence & International Strategy** Kavveri leverages a strong international footprint to access key global markets: - **North American Subsidiaries (100% owned):** - **Kavveri Technologies Americas Inc.** (parent) - Owns **Quality Communications Systems** and **New-England Communication Systems** (USA-based, as of 2023–24) - **Til-Tek Antennae Inc.** (Canada), part of Kavveri Technologies Inc., a wholly owned Canadian holding - Won a **major global account worth $2 million (₹17.3 crores)** in Aug 2025 - Approved as a vendor by a major U.S. multinational; products integrated into their network design framework (Jul 2025) - **European Market Access:** - RF products approved by a **major European OEM** (Oct 2024), unlocking growth in EU and North American export channels - **Global Client Engagements:** - **$2 million engagement** secured in July 2025 by replacing an incumbent international supplier — validating competitive edge in cost, innovation, and performance - Positioned to become a **preferred global partner in defence RF supply chains** --- ### **R&D & Innovation Leadership** - **R&D Center in Bengaluru**, recognized by the **Ministry of Science & Technology (since 1996)** - Proprietary technologies in: - Tunable band-pass filters - Antenna coupler units - UHF/VHF/microwave antennas - Heavy and sustained investment in R&D fuels innovation in: - Deep-space communication - Astronaut mobility systems - Compact high-gain antennas for rovers and satellites - Pipeline includes next-generation **modular RF subsystems**, **SATCOM-on-the-move**, and **radar support antennas** --- ### **Corporate & Financial Developments** - **Amalgamation**: Merged with Mega Sonic Telecoms Pvt Ltd in 2003–04, issuing 4.935 million equity shares - **Subsidiary Transactions**: Active financial dealings with subsidiaries (e.g., Kavveri Technologies Americas Inc., Eaicaom India Pvt Ltd) - **Commission Payout**: Settled long-pending commission of ₹1.41 lakh to key managerial personnel (due since 2011–12), paid in FY 2024–25 - **Name Change**: Formerly known as *Kavveri Telecom Products Limited* (renamed to reflect expanded defence & space focus) --- ### **Competitive Advantages** 1. **Engineering-First Culture**: Solves complex, application-specific challenges through deep technical expertise. 2. **Customization-Led Approach**: Tailored solutions for mission profiles, platform constraints, and environmental conditions. 3. **Speed & Responsiveness**: Agile, lean operations enable faster prototyping and shorter turnaround times vs. large OEMs. 4. **Superior Performance-to-Price Ratio**: High-performance products compliant with global standards, yet cost-competitive. 5. **Indigenous Design & Manufacturing**: Fully aligned with Make in India, ensuring supply chain resilience and IP ownership.