KAVDEFENCE

Kavveri Defence & Wireless Technologies Limited

Radio-frequency products and antennas for defence and wireless technologies

Industrials›Capital Goods›Aerospace & Defense›Aerospace & Defense

kavveridefence.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹93.92
Market cap
565 Cr
Stock P/E
Loss (TTM EPS ₹-0.20)
P/B
5.05
ROE (FY26)
1.1%
ROCE (FY26)
1.1%
Operating margin (FY26)
-18.8%
Debt / equity (FY26)
0.04
OCF / EBITDA (FY25)
31.1%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Kavveri Defence (Kavveri Defence & Wireless Technologies, formerly Kavveri Telecom Products) makes radio-frequency (RF) products and antennas, selling antennas, filters, switches and RF components to defence customers in India and overseas.

Company snapshot

25thBy market cap

Ranked among 25 companies in Aerospace & Defense.

What we see

Positives
  • ✓Debt-to-equity of 0.04x — the company is largely funded by its own money, not borrowed funds.
Concerns
  • ✗Operating cash flow is negative even though the company shows a profit — the business may not be generating real cash yet.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales0.39 Cr0.74 Cr0 Cr0.62 Cr1 Cr7 Cr8 Cr4 Cr2 Cr1 Cr0.92 Cr1 Cr
Operating expenses (approx.)0.82 Cr0.98 Cr0.62 Cr0.59 Cr0.88 Cr5 Cr9 Cr3 Cr2 Cr2 Cr3 Cr3 Cr
EBITDA-0.43 Cr-0.24 Cr-0.62 Cr0.03 Cr0.41 Cr2 Cr-0.60 Cr1 Cr-0.01 Cr-0.63 Cr-2 Cr-1 Cr
OPM %-111.7%-32.9%—4.4%31.9%32.0%-7.3%26.6%-0.7%-42.2%-190.2%-103.1%
Other income0.11 Cr0.0002 Cr0.25 Cr0.05 Cr0.12 Cr0.09 Cr4 Cr0.07 Cr0.54 Cr0.09 Cr2 Cr0.37 Cr
Interest0.0004 Cr0.0002 Cr0.03 Cr0.0004 Cr0.0004 Cr0 Cr0.04 Cr0.0017 Cr0.0078 Cr0.0006 Cr0.01 Cr0.0058 Cr
Depreciation0.05 Cr0.06 Cr0.05 Cr0.05 Cr0.05 Cr0.12 Cr0.10 Cr0.03 Cr0.04 Cr0.06 Cr0.06 Cr0.09 Cr
Profit before tax-0.37 Cr-0.30 Cr-0.46 Cr0.03 Cr0.48 Cr2 Cr4 Cr1 Cr0.47 Cr-0.60 Cr0.28 Cr-1 Cr
Tax %0.0%0.0%1.8%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Net profit-0.37 Cr-0.30 Cr-0.45 Cr0.03 Cr0.48 Cr2 Cr4 Cr1 Cr0.47 Cr-0.60 Cr0.28 Cr-1 Cr
EPS (₹)₹0.19—₹-0.27₹0.02₹0.24₹1.10₹1.83₹0.31₹0.03₹-0.17₹0.08₹-0.20

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales25 Cr15 Cr6 Cr5 Cr5 Cr7 Cr3 Cr0 Cr17 Cr8 CrSign in free for the trailing twelve months
Operating expenses (approx.)22 Cr26 Cr10 Cr5 Cr6 Cr7 Cr211 Cr3 Cr15 Cr10 CrSign in free for the trailing twelve months
EBITDA3 Cr-11 Cr-5 Cr-0.58 Cr-0.68 Cr0.10 Cr-208 Cr-3 Cr2 Cr-1 CrSign in free for the trailing twelve months
OPM %11.9%-75.7%-81.0%-12.7%-13.1%1.4%-7371.5%—12.1%-16.5%Sign in free for the trailing twelve months
Other income0.63 Cr0.18 Cr0.89 Cr0.79 Cr0 Cr0 Cr241 Cr2 Cr5 Cr3 CrSign in free for the trailing twelve months
Interest20 Cr20 Cr13 Cr13 Cr13 Cr13 Cr0.04 Cr0.04 Cr0.04 Cr0.03 CrSign in free for the trailing twelve months
Depreciation18 Cr16 Cr4 Cr3 Cr3 Cr2 Cr0.21 Cr0.21 Cr0.32 Cr0.19 CrSign in free for the trailing twelve months
Profit before tax-31 Cr-47 Cr-21 Cr-16 Cr-17 Cr-15 Cr31 Cr-1 Cr6 Cr1 CrSign in free for the trailing twelve months
Tax %-0.3%36.7%103.7%-8.1%2.6%-16.9%0.0%0.6%0.0%0.0%Sign in free for the trailing twelve months
Net profit-32 Cr-30 Cr0.77 Cr-18 Cr-16 Cr-18 Cr31 Cr-1 Cr6 Cr1 CrSign in free for the trailing twelve months
EPS (₹)₹-15.66₹-14.77₹0.38₹-8.78₹-8.16₹-8.99₹15.98₹-0.66₹3.18₹0.35Sign in free for the trailing twelve months
Dividend payout %——————0.0%—0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital20 Cr20 Cr20 Cr20 Cr20 Cr20 Cr20 Cr20 Cr20 Cr60 Cr
Reserves33 Cr3 Cr18 Cr-4 Cr9 Cr-8 Cr32 Cr27 Cr67 Cr52 Cr
Borrowings221 Cr267 Cr230 Cr235 Cr207 Cr210 Cr0.03 Cr5 Cr19 Cr4 Cr
Other liabilities369 Cr201 Cr85 Cr104 Cr49 Cr53 Cr27 Cr33 Cr18 Cr10 Cr
Total liabilities643 Cr491 Cr353 Cr355 Cr285 Cr275 Cr79 Cr85 Cr123 Cr127 Cr
Fixed assets (net)200 Cr182 Cr26 Cr23 Cr7 Cr5 Cr2 Cr2 Cr2 Cr3 Cr
CWIP0.57 Cr0.54 Cr0.54 Cr0.54 Cr0.54 Cr0.54 Cr0 Cr0 Cr0.03 Cr0.0083 Cr
Investments6 Cr6 Cr37 Cr0 Cr0 Cr0 Cr21 Cr21 Cr21 Cr22 Cr
Loans & advances——0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr54 Cr
Inventories77 Cr75 Cr73 Cr74 Cr58 Cr58 Cr2 Cr1 Cr3 Cr4 Cr
Trade receivables93 Cr106 Cr53 Cr54 Cr39 Cr50 Cr2 Cr5 Cr8 Cr7 Cr
Cash & bank7 Cr8 Cr4 Cr4 Cr0.42 Cr0.28 Cr0.23 Cr1 Cr14 Cr18 Cr
Other assets260 Cr114 Cr159 Cr200 Cr180 Cr162 Cr53 Cr55 Cr75 Cr20 Cr
Total assets643 Cr491 Cr353 Cr355 Cr285 Cr275 Cr79 Cr85 Cr123 Cr127 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity17 Cr15 Cr-26 Cr—-5 Cr-3 Cr13 Cr-19 Cr0.65 Cr-23 Cr
Cash from investing0.32 Cr2 Cr0.62 Cr—-8 Cr-6 Cr43 Cr-5 Cr-21 Cr-4 Cr
Cash from financing-13 Cr-16 Cr24 Cr—9 Cr9 Cr-56 Cr18 Cr33 Cr31 Cr
Net cash flow4 Cr1 Cr-1 Cr—-3 Cr-0.14 Cr-0.06 Cr1 Cr13 Cr3 Cr
Free cash flow (OCF − Capex)17 Cr—-27 Cr—-5 Cr-3 Cr13 Cr-19 Cr0.65 Cr-24 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %-4.3%-9.4%-2.8%-1.2%-1.4%-0.9%60.3%-2.5%6.1%1.1%
ROE %-59.2%-126.3%2.0%-111.4%-57.3%-146.2%60.3%-2.8%7.4%1.1%
Debtor days133926203460431227382625217—166316
Inventory days6281138051377019058101747053357—120329
Days payable106921448060878488230618312282—238300
Cash conversion cycle-307219451114414882106057846-1708—48346
OCF / EBITDA %558.4%————n.m.——31.1%—
Debt / equity4.1611.456.1014.837.2116.950.00060.110.220.04
Current ratio0.760.720.960.710.760.671.001.241.295.67
Net debt / EBITDA71.00————2157.07——2.21—