Uravi Defence & Technology Ltd (URAVIDEF)

Automobile and Auto Components · Auto Ancillaries · NSE · Updated 3 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹124.05 ↓ 68.18% (1Y)

🎯 Key Takeaways

Uravi Defence & Technology Ltd is undergoing a strategic transition marked by financial volatility and structural changes, shifting from a subsidiary model to a focused defence technology entity following the disinvestment of its stake in SKL India. The company remains in a nascent growth phase with high valuation multiples and negative returns over the past year, reflecting market skepticism about near-term profitability and execution clarity.
Revenue grew 4.8% QoQ to ₹10 in Q1FY27.
⚠️ Persistent auditor qualification on consolidated financials due to unaudited associate reporting introduces material uncertainty in consolidated resul

Market Cap

₹141

P/E Ratio

106.9

P/B Ratio

3.05

ROE

5.0%

ROCE

4.5%

Debt/Equity

0.55

Promoter

45.0%

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📖 The Story

Uravi Defence & Technology Ltd is undergoing a strategic transition marked by financial volatility and structural changes, shifting from a subsidiary model to a focused defence technology entity following the disinvestment of its stake in SKL India. The company remains in a nascent growth phase with high valuation multiples and negative returns over the past year, reflecting market skepticism about near-term profitability and execution clarity.

📰 What's Happening

Management has been actively restructuring the business, including the completion of the 50.01% stake sale in SKL India on March 18, 2026, which ended its subsidiary status. The company has also initiated governance upgrades, reappointing Naina Lal Kidwai as Independent Director and launching a postal ballot for shareholder approval. However, operational transparency remains challenged by auditor qualifications on consolidated results due to unaudited financials of key associates like Spafax International Holding, limiting confidence in consolidated figures despite unqualified standalone audits.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	12	10	10	10	10
Operating Profit	0	1	0	-0	0
OPM %	2.7%	5.1%	1.1%	-4.0%	2.3%
Net Profit	1	-0	0	2	1
EPS	₹0.38	₹0.07	₹-0.05	₹0.52	₹0.62

Recent quarterly performance shows mixed trends: revenue stabilized around ₹10-12 lakhs per quarter with minimal operating profit, while net income swung from a ₹87.22 crore profit in Q3 FY26 to a ₹1.25 crore loss in the prior fiscal year, indicating high volatility. The latest quarter (June 2026) reported ₹10 lakhs revenue and ₹1 crore net profit, but this follows a pattern of erratic profitability, including a ₹1.25 crore loss in FY26, suggesting limited operational leverage and sensitivity to execution or contract cycles.

🔮 Management Outlook & What's Next

Management has not provided explicit forward guidance in the latest filings, but implicitly emphasized improving governance and working with associates to obtain audited financials to resolve the current qualification on consolidated results. The focus appears to be on stabilizing reporting integrity and compliance post-regulatory fine, with no stated targets for revenue growth or margin improvement in the disclosed narrative.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	11	11	11	11
Reserves	28	35	39	39
Borrowings	25	26	26	24
Total Liabilities	69	89	90	78
Fixed Assets	14	15	14	13
Investments	11	0	9	19
Total Assets	69	89	90	78

The balance sheet reflects a stable but modest capital structure: equity and reserves remain flat at ₹50 lakhs (₹11 + ₹39), while borrowings increased slightly from ₹26 to ₹24 lakhs in short-term liabilities, indicating minimal capital expenditure or debt-driven expansion. Total assets declined slightly from ₹90 to ₹78 lakhs, suggesting asset reduction post-disinvestment rather than reinvestment, consistent with a non-expansionary phase.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2025
Operating	-2
Investing	-14
Financing	+18
Net Cash Flow	+2

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	58.4%	54.2%	58.0%	45.0%
FII	8.2%	7.9%	6.7%	6.7%
DII	0.0%	0.0%	0.0%	0.0%
Public	26.2%	29.3%	26.9%	35.8%
# Shareholders	3,133	3,850	4,280	4,748

Promoter holding has declined sharply from 58.39% in Q2FY26 to 45.01% in Q1FY27, while FII ownership remains flat at 6.74% and DII at 0%. Public shareholding rose from 26.16% to 35.82%, indicating retail investor interest amid promoter dilution. The growing number of shareholders (4,748) may reflect broader retail participation, but the sustained FII presence without accumulation suggests limited institutional confidence in near-term recovery.

⚖️ Peer Comparison — Auto Ancillaries

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
MOTHERSON	1.72 L Cr	39.3	13.9%	11.0%	0.39
BOSCHLTD	1.39 L Cr	58.9	21.7%	15.9%	0.00
UNOMINDA	71,470	59.4	19.3%	18.9%	0.37
SONACOMS	48,705	69.9	15.2%	11.5%	0.04
ENDURANCE	38,755	40.0	17.3%	14.2%	0.15
EXIDEIND	36,176	38.8	9.8%	6.7%	0.08
ZFCVINDIA	29,265	11.8	18.3%	13.5%	0.00
CRAFTSMAN	28,773	54.7	14.7%	14.2%	1.02
SUNDRMFAST	25,224	41.3	17.4%	14.3%	0.14
GABRIEL	24,528	64.8	32.0%	25.6%	0.06

🔗 Peer Stock Analyses

MOTHERSON BOSCHLTD UNOMINDA SONACOMS ENDURANCE

⚠️ Risk Factors

1. Persistent auditor qualification on consolidated financials due to unaudited associate reporting introduces material uncertainty in consolidated results, undermining transparency. 2. High volatility in profitability, with sharp swings between profit and loss across quarters, reflects execution or contract execution risks. 3. Declining promoter stake and lack of institutional accumulation suggest weakening confidence among key investor groups. 4. Heavy reliance on a few associates with unreported financials exposes the company to unquantifiable financial and compliance risks.

📋 Recent Filings

🧠 Analyst's Read

Uravi Defence & Technology is in a fragile transitional phase where governance improvements and financial clarity are critical for rebuilding investor trust. The near-term trajectory hinges on resolving audit qualifications and stabilizing operational performance, making transparency and execution consistency the key watchpoints for the next few quarters.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-03.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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