Trident Aerospace
Trident Aerospace Systems Limited
- CIN
- U35990TG2010PLC069114
- ISIN
- —
- Incorporated
- 24 May 2010
- Registered state
- Telangana
Prices shown are indicative, dealer-quoted and updated periodically — they are not exchange-traded prices and may differ from the price at which a transaction is finally executed.
Business overview
Trident Aerospace Systems Limited builds airframe sub-assemblies, landing-gear components and ground-support systems for defence platforms, from a campus near Hyderabad with a second unit under commissioning in Karnataka, holding a confirmed order book of about ₹9,400 crore, roughly 3.8 times FY2026 revenue. Offset obligations placed by foreign primes give the company a multi-year visible order book that most industrial businesses of this size do not have. The company is currently in the pre-IPO stage, with a listing under active consideration, and shares change hands only through negotiated off-market transfers.
Key highlights
- Order book to revenue of 3.8x
- Second unit expected to add 40% capacity in FY2028
- Export revenue share of 31%
- Working capital cycle of 148 days — heavy but improving
Financial snapshot
FY2026 · Audited · Source: Audited annual report
- Revenue FY2026
- ₹2,480.00 Cr
- EBITDA
- ₹612.00 Cr
- PAT
- ₹368.00 Cr
- Net worth
- ₹2,260.00 Cr
- Total debt
- ₹420.00 Cr
- Cash & equivalents
- ₹540.00 Cr
- Operating cash flow
- ₹286.00 Cr
- EPS
- ₹16.43
Management & board
- SNSince 2017
Sanjana Nair
Managing Director & CEO
Has led Trident Aerospace since 2017 and previously held senior operating roles in the same sector.
- MRSince 2012
Mohan Reddy
Chief Financial Officer
- SRSince 2011
Sameer Reddy
Executive Director — Operations
- NPSince 2017
Neha Pillai
Company Secretary & Compliance Officer
Reported financials · FY2024–FY2026
Figures in ₹ crore unless stated. Every column carries its own source and audit status.
| Particulars | FY2026Audited | FY2025Audited | FY2024Audited | YoY |
|---|---|---|---|---|
| Profit & loss | ||||
| Revenue | ₹2,480 Cr | ₹1,840 Cr | ₹1,420 Cr | +34.8% |
| EBITDA | ₹612 Cr | ₹428 Cr | ₹312 Cr | +43.0% |
| Profit after tax | ₹368 Cr | ₹246 Cr | ₹168 Cr | +49.6% |
| Earnings per share | ₹16.43 | ₹10.98 | ₹7.50 | — |
| Balance sheet | ||||
| Net worth | ₹2,260 Cr | ₹1,880 Cr | ₹1,620 Cr | +20.2% |
| Total debt | ₹420 Cr | ₹460 Cr | ₹490 Cr | — |
| Cash & equivalents | ₹540 Cr | ₹412 Cr | ₹328 Cr | — |
| Total assets | ₹4,120 Cr | ₹3,480 Cr | ₹2,940 Cr | — |
| Book value per share | ₹101 | ₹83.93 | ₹72.32 | — |
| Cash flow | ||||
| Operating cash flow | ₹286 Cr | ₹198 Cr | ₹142 Cr | — |
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- FY2026 · Audited annual report · period ended 31 Mar 2026 · last updated in the back office 20 Sep 2026
- FY2025 · Audited annual report · period ended 31 Mar 2025
- FY2024 · Audited annual report · period ended 31 Mar 2024
Revenue, EBITDA and PAT
₹ crore. A year with no reported figure is left out rather than drawn as zero.
- Revenue
- EBITDA
- PAT
Every ratio on this tab is derived from the reported figures in the Financials tab and the indicative price in the header — nothing here is a stored value. A ratio that cannot be justified is shown as — with the reason, rather than as a negative or a zero. Ratios move when the indicative price moves.
Size
Balance-sheet items as at FY2026
- Market cap
- ₹36,736 Cr
- Enterprise value
- ₹36,616 Cr
- Indicative price
- ₹1,640
- Shares outstanding
- 22,40,00,000
Indicative price × shares outstanding
Market cap + debt − cash
Valuation multiples
- P/E
- 99.8x
- P/B
- 16.3x
- EV / EBITDA
- 59.8x
- EPS
- ₹16.43
- Book value / share
- ₹101
- Debt / equity
- 0.2x
On FY2026 PAT
Returns & margins
- ROE
- 16.3%
- ROCE (EBITDA basis)
- 22.8%
- EBITDA margin
- 24.7%
- PAT margin
- 14.8%
- Revenue growth
- 34.8%
- Cash / market cap
- 1.5%
EBITDA ÷ (net worth + debt)
Indicative price snapshots
Each point is a dated dealer-quote average. There is no continuous trading behind these numbers, so no daily series is drawn.
Prices shown are indicative, dealer-quoted and updated periodically — they are not exchange-traded prices and may differ from the price at which a transaction is finally executed.
Snapshot log
| Date | Indicative price | Change | Source |
|---|---|---|---|
| 20 Sep 2026 | ₹1,640 | +4.21% | Dealer desk average, 6 quotes |
| 20 Aug 2026 | ₹1,574 | +5.98% | Dealer desk average |
| 20 Jul 2026 | ₹1,485 | +3.83% | Dealer desk average |
| 20 Jun 2026 | ₹1,430 | +5.46% | Dealer desk average |
| 20 May 2026 | ₹1,356 | +5.72% | Dealer desk average |
| 20 Apr 2026 | ₹1,283 | +6.72% | Dealer desk average |
| 20 Mar 2026 | ₹1,202 | +2.71% | Dealer desk average |
| 20 Feb 2026 | ₹1,170 | +3.63% | Dealer desk average |
| 20 Jan 2026 | ₹1,129 | +1.76% | Dealer desk average |
| 20 Dec 2025 | ₹1,110 | +4.40% | Dealer desk average |
| 20 Nov 2025 | ₹1,063 | +2.07% | Dealer desk average |
| 20 Oct 2025 | ₹1,041 | +2.54% | Dealer desk average |
| 20 Sep 2025 | ₹1,016 | — | Dealer desk average |
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Change is measured against the previous snapshot, not against a calendar period, because snapshots are not collected on a fixed schedule. The header percentages use fixed windows and may not tie exactly to this column.
Corporate actions & events
Dated events sourced from company filings and registrar records.
- Bonus1 Nov 2025
Bonus issue in the ratio 1:2
Board approved a bonus issue; record date notified to shareholders on file.
Company filing / RoC
- Dividend25 Feb 2024
Final dividend declared
Dividend recommended by the board, subject to shareholder approval at the AGM.
Company filing / RoC
IPO / listing status
- Current stage
- Pre-IPO
- DRHP filed
- —
- RHP filed
- —
- Expected window
- Not announced — under evaluation
- Registrar
- —
- Book-running managers
- —
Listing timelines are indicative and subject to regulatory approval and market conditions. A filing is not a guarantee of listing.
Lock-in applies after listing
Shares acquired before a public issue are typically subject to a statutory lock-in of six months from the date of listing. Confirm the applicable period before transacting.
Read the lock-in explainerResearch
Information currently unavailable
No research has been published on Trident Aerospace yet. Sector notes that mention it will appear here when they are.
Documents
Public documents open directly. Private documents are released to verified clients on request.
| Document | Type | FY / date | Source | Access |
|---|---|---|---|---|
| Annual Report FY20264.2 MB | Annual report | FY2026 | Company | Download |
| Annual Report FY20253.8 MB | Annual report | FY2025 | Company | Download |
| Audited financial statements — three-year summary620 KB | Financials | FY2024–FY2026 | Statutory filings | Download |
| Investor presentation9.1 MB | Presentation | 2026-07-15 | Company | On request |
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Risk assessment
Our own reading of the disclosed information. Treat the levels as judgement, not as fact.
Working capital
HighReceivable days are long and tie up a large share of net worth.
Order timing
MediumDefence orders slip with budget cycles even when awarded.
Single-campus dependence
MediumMost output comes from one location until the second unit runs.
Risks common to every unlisted holding. You may not find a buyer when you want one, at any price. A listing may be delayed indefinitely or may never happen, and shares can list below the price at which they changed hands in the unlisted market. Disclosure by unlisted companies is thinner than by listed ones, and the indicative price is based on infrequent dealer quotes rather than continuous trading.