
JSR Dynamics Limited
vs. prev. close ₹11,950
52W High
₹13,000
52W Low
₹8,490
Market cap
₹2,692 Cr
IPO stage
No DRHP filed
Risk level
High
CIN
U29113MH2018PTC318834
Price History
52W High
₹13,000
52W Low
₹8,490
About JSR Dynamics Limited
JSR Dynamics Limited, a defence-technology company developing unmanned vehicles, missiles, and glide bombs under Chairman Air Marshal Shirish B. Deo (Retd), swung to a FY26 profit of Rs 230.93 lakh (EPS Rs 11.54, ROE 1.76%) from a Rs 218.03 lakh loss in FY25, while remaining pre-revenue and continuing to rely on non-operating income.
The Short Version :
JSR Dynamics Limited (formerly JSR Dynamics Private Limited), chaired by Air Marshal Shirish B. Deo (Retd), is a defence-technology company engaged in manufacturing and developing unmanned vehicles, unmanned aerial and combat vehicles, missiles, and glide bombs, along with related aerospace software, electronics, and control systems. The company remains pre-revenue; FY26 income was entirely non-operating (Rs 771.82 lakh, up from Rs 364.85 lakh in FY25), but the company swung to a profit of Rs 230.93 lakh from a loss of Rs 218.03 lakh in FY25. EPS came in at Rs 11.54 versus Rs (10.90), with ROE improving to 1.76% from -1.69%, and Total Equity growing modestly to Rs 131.34 crore from Rs 129.03 crore.
Why It Trades Where It Does :
The swing from loss to profit came almost entirely from below the operating line: the core business remains loss-making before tax adjustments (PBT of Rs 198.31 lakh in FY26, down from a much larger operating loss last year, but the FY25 loss was worse), and a deferred tax credit of Rs 32.61 lakh in FY26 (versus a deferred tax charge of Rs 20.18 lakh in FY25) helped tip the year into profit. Finance costs fell sharply to Rs 417.44 lakh from Rs 846.76 lakh, alongside a large reduction in long-term borrowings (Rs 275.58 crore to Rs 188.74 crore... wait, figures in lakh: Rs 2,755.77 lakh to Rs 1,887.45 lakh), even as short-term borrowings rose substantially (Rs 363.28 lakh to Rs 3,287.87 lakh), suggesting a shift toward shorter-tenure financing. Inventories grew to Rs 15,583.09 lakh from Rs 12,318.70 lakh, consistent with a defence-hardware manufacturer building out work-in-progress ahead of deliveries or certification milestones.
Top Risks :
The company remains pre-revenue with no sales from operations in FY26; profitability this year depended on non-operating income and a tax credit rather than a commercial business.
Short-term borrowings rose sharply (Rs 363.28 lakh to Rs 3,287.87 lakh) even as long-term borrowings fell, a shift toward shorter-tenure, potentially less stable financing.
Large and growing inventories (Rs 15,583.09 lakh) tied up in a pre-revenue business represent working capital risk if products remain uncertified or contracts are delayed.
Top Opportunities :
The swing to a full-year profit, even a modest one, is a directional improvement after a loss-making prior year.
Finance costs nearly halved year-on-year, indicating improved capital structure or debt management alongside the reduction in long-term borrowings.
The company's defence-technology focus (unmanned vehicles, glide bombs, missiles) remains aligned with India's continuing push for domestic defence manufacturing.
Disclaimer :
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Company Details
Industry
Defence & Aerospace
Founded
2018
Headquarters
Nagpur, Maharashtra, India
Min Lot Size
1
Face Value
₹10.00
Shares Outstanding
22,52,877
Regulatory Information
Corporate Identity Number (CIN)
U29113MH2018PTC318834
PAN Number
AAECJ4302P
ISIN
INE0JFD01014
Depository
NSDL & CDSL
Key Valuation Ratios
Valuation
Market Cap
₹2,692.19 Cr
P/E Ratio
1,165.80×
P/S Ratio
—
P/B Ratio
20.50×
EV / EBITDA
220.63×
Returns & Per Share
ROE
1.76%
EPS
₹11.54
Book Value / Share
₹656.58
Solvency
Debt / Equity
0.39×
Interest Coverage
1.48×
Company Fundamentals
As of FY2026 Annual · updated 28 Sept 2026Gross Profit
₹-8.14 Cr
EBITDA
₹12.29 Cr
Revenue Growth
—
Profit Margin
—
Performance Trends
5 annual periods · derived from filed statements
Revenue
₹ Cr
Net Profit
₹ Cr · losses in red
Earnings Per Share
₹ per share
Return on Equity
ROE %
Return on Capital Employed
ROCE %
Debt-to-Equity
0.39×
Interest Coverage
1.48×
Financial Statements
| Line item | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Total Income | |||||
| Revenue from operationsDisclosed | 0₹ Lakh | 0₹ Lakh | 0₹ Lakh | 0₹ Lakh | 0₹ Lakh |
| Other incomeDisclosed | 114.74₹ Lakh | 98.05₹ Lakh | 107.98₹ Lakh | 364.85₹ Lakh | 771.82₹ Lakh |
| Total IncomeDerived | 114.74₹ Lakh | 98.05₹ Lakh | 107.98₹ Lakh | 364.85₹ Lakh | 771.82₹ Lakh |
| Expenses | |||||
| Cost of goods soldDisclosed | 210.15₹ Lakh | 1,156.63₹ Lakh | 1,414.4₹ Lakh | 80.2₹ Lakh | 813.6₹ Lakh |
| Purchases of stock-in-tradeDisclosed | 0₹ Lakh | 0₹ Lakh | 0₹ Lakh | 0₹ Lakh | 0₹ Lakh |
| Changes in inventoriesDisclosed | -367.88₹ Lakh | -2,596.13₹ Lakh | -3,096.79₹ Lakh | -1,722.82₹ Lakh | -2,574.1₹ Lakh |
| Employee benefits expenseDisclosed | 78.57₹ Lakh | 394.03₹ Lakh | 395.5₹ Lakh | 410.22₹ Lakh | 637.55₹ Lakh |
| Finance costsDisclosed | 14.93₹ Lakh | 293.74₹ Lakh | 474.7₹ Lakh | 846.76₹ Lakh | 417.44₹ Lakh |
| Depreciation and amortization expenseDisclosed | 54.84₹ Lakh | 567.26₹ Lakh | 494.3₹ Lakh | 429.28₹ Lakh | 613.58₹ Lakh |
| Other expensesDisclosed | 73.69₹ Lakh | 277.24₹ Lakh | 417.63₹ Lakh | 519.06₹ Lakh | 665.43₹ Lakh |
| Total ExpensesDerived | 64.3₹ Lakh | 92.77₹ Lakh | 99.74₹ Lakh | 562.7₹ Lakh | 573.5₹ Lakh |
| Profit | |||||
| Exceptional itemsDisclosed | 0₹ Lakh | 0₹ Lakh | 0₹ Lakh | 0₹ Lakh | 0₹ Lakh |
| Profit before taxDerived | 50.44₹ Lakh | 5.28₹ Lakh | 8.24₹ Lakh | -197.85₹ Lakh | 198.32₹ Lakh |
| Tax expenseDisclosed | 41.35₹ Lakh | -62.99₹ Lakh | 1.8₹ Lakh | 20.18₹ Lakh | -32.61₹ Lakh |
| Profit After TaxDerived | 9.09₹ Lakh | 68.27₹ Lakh | 6.44₹ Lakh | -218.03₹ Lakh | 230.93₹ Lakh |
| Other comprehensive incomeDisclosed | 0₹ Lakh | 0₹ Lakh | 0₹ Lakh | 0₹ Lakh | 0₹ Lakh |
| Total Comprehensive IncomeDerived | 9.09₹ Lakh | 68.27₹ Lakh | 6.44₹ Lakh | -218.03₹ Lakh | 230.93₹ Lakh |
Documents Library
Access all financial reports and filings
Annual Report
Document
Shirish Baban Deo
Chairman & MD
30+ Years
Mr. Prafulla Kale
Director
25+ Years
Mr. Gautam Kale
Director
20+ Years
Valuation Report of JSR Dynamic others Valuation Report
Valuation Report of JSR Dynamic others Valuation Report
Valuation Report of JSR Dynamic others Valuation Report
Valuation Report of JSR Dynamic others Valuation Report
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Current Price
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About JSR Dynamics Limited unlisted shares
Indicative · updated dailyJSR Dynamics Limited unlisted share price today
JSR Dynamics Limited unlisted share price today is ₹11,950 as of 12 November 2026.
What drives JSR Dynamics Limited's valuation
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JSR Dynamics Limited — frequently asked questions
- What is the grey market price for JSR Dynamics Limited?
No IPO is currently announced for JSR Dynamics Limited, so no grey market exists; the price above reflects Priveq's own desk valuation.
- Has JSR Dynamics Limited filed for an IPO, and when might it list?
JSR Dynamics Limited has not filed a draft red herring prospectus, so no IPO is currently announced and no listing date has been set.
- How does JSR Dynamics Limited compare to its listed peers?
There is no closely comparable listed company for JSR Dynamics Limited in India today.
- Is JSR Dynamics Limited on the SME or Mainboard IPO track?
JSR Dynamics Limited has not filed a draft red herring prospectus, so no IPO track is set yet.
- What is JSR Dynamics Limited's CIN and registered office?
JSR Dynamics Limited's Corporate Identity Number is U29113MH2018PTC318834, registered at Nagpur, Maharashtra, India.
- What is JSR Dynamics Limited's market capitalisation?
JSR Dynamics Limited's market capitalisation is approximately ₹2,692 crore, based on its current unlisted share price.
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