AMS earnings call transcript

AI summary - Q1 FY27 standalone revenue 156cr +17% y-y; PAT 28cr +43% with 18% margin - Consolidated Q1 revenue 251cr +88% y-y; EBITDA 54cr +31%; PAT 25cr +43% - Acquisition of 41.33% stake in Premier Explosives for ~1550cr to integrate missile propulsion - Order book: standalone 1224cr, consolidated 1704cr including Ideal Explosives - Guidance: 40-45% revenue CAGR from FY27 onwards; EBITDA margin momentum to continue - Major orders expected: QRSAM (~1000 units, >1cr component each), MIGM (3500cr over 3 years), Pinaka (2000 units) - Autonomous systems and smart bombs progressing; Make-II projects underway with trials pending - Export orders expected post Unit III commissioning in next quarters - R&D spend ~9.5% of revenue in FY26; no export revenue yet - Premier and Ideal integration plans to be announced post acquisition completion - Moored mine trials complete; orders expected next FY; limpet mine orders expected Q4 FY27 - Promoter pledge expected to be cleared by Q1 FY28 - Company focused on indigenization, technology leadership, and long-term defense sector growth