🟢 At a Glance:
Uravi Defence & Technology Ltd (URAVI) has reported FY25 revenue of ₹44.60 crore with a net profit of ₹1.95 crore — a margin of ~4.37%. But here’s the plot twist: their defence vertical, a recent pivot, contributed ₹2.23 crore, i.e., just 5% of total revenue. So, is this a real transformation or just putting a “missile” label on a tail lamp?
🏢 About the Company
- Formerly: Uravi T and Wedge Lamps Ltd
- Founded: 2004
- Products: Wedge-based automotive lamps for instrument clusters, taillights, indicators
- Brand: UVAL
- Largest player in India for cluster lamps
- Second-largest in India for signalling/parking lamps (OEM segment)
- Recently entered the defence tech sector through acquisitions
🧑‍💼
Key Managerial Personnel (KMP)
| Name | Role |
|---|---|
| Niraj Gada | MD & CEO |
| Kaushik Damji Gada | Whole-time Director & CFO |
đź“Š FY25 Financials Breakdown
🔹 Consolidated (FY25)
| Metric | Value |
|---|---|
| Total Income | â‚ą44.60 Cr |
| EBITDA | â‚ą6.75 Cr |
| EBITDA Margin | 15.13% |
| Net Profit (PAT) | â‚ą1.95 Cr |
| PAT Margin | 4.37% |
| EPS (Basic) | â‚ą2.31 |
🔸 Q4 FY25 Consolidated
| Metric | Value |
|---|---|
| Total Income | â‚ą11.73 Cr |
| EBITDA | â‚ą2.08 Cr |
| Net Profit (PAT) | â‚ą0.81 Cr |
| PAT Margin | 7.11% |
| EPS (Basic) | â‚ą0.84 |
🔍 Segment-Wise Revenue (FY25)
| Segment | Revenue (â‚ą Cr) | Share of Total |
|---|---|---|
| Automotive | â‚ą41.27 Cr | 92.6% |
| Defence | â‚ą2.23 Cr | 5.0% |
| Others | â‚ą1.10 Cr est. | ~2.4% |
đź”® Forward-Looking Fair Value (FV) Estimate
Let’s assume:
- Expected Revenue Growth: 20% CAGR
- Target PAT Margin: 6–7%
- Sector P/E (Auto Components + Defence Pivoted): 22–25x
- FY26E PAT: ₹2.5–2.8 Cr
- FV
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