Sunita Tools Ltd

BSE: 544001

₹ 1,059.85-5.00%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 666 crWebsite: www.sunitatools.comUpdated: 24 Oct 2026

About

Sunita Tools Ltd is moving from its industrial capital goods business, which makes moulds and dies, into defence manufacturing, starting with 155mm artillery shells. It reported revenue of Rs 47.31 Cr for FY26. Its Line 1 shell plant at Faridabad is installed, with capacity of 1,20,000 shells per year as of Q1 FY27. Through its US entity, it has also bought New Mould Innovations, a grease cartridge maker in Kentucky.^[1][2][3]

Business and products

In Q1 FY26 the company said it was moving from industrial capital goods (moulds and dies) into defence manufacturing, starting with 155mm artillery shells.^[1]
Future products named in Q1 FY26: explosive-filled shells made with a filling partner, PGK/CCF smart fuzes and extended-range 155mm shells.^[1]
As of Q1 FY27 the company is developing a loitering weapon with a speed of 140 kmph, a 60 km range and a 2.7 kg payload.^[2]

Facilities and capacity

Sites listed in Q1 FY26: the existing Ahmedabad facility, the existing Palghar tools facility and an upcoming defence facility at Faridabad.^[1]
As of Q1 FY27, Line 1 at Faridabad is installed and ready, with capacity of 1,20,000 shells per year (10,000 a month). In Q1 FY26 its capacity was stated as 7,500 shells a month.^[2][1]
As of Q1 FY27, production on Line 1 depends on a DPIIT licence that has not yet been granted.^[2]
Line 1 uses ready-to-use plant and machinery bought from T.S. Kisan & Co., which made artillery shells from 1996 to 2006 (stated in Q1 FY26).^[1]
New Mould Innovations (Kentucky, USA) can make and pack more than 12 million grease cartridges a year at an average selling price above USD 3.2, as of Q1 FY27.^[2]

Customers and markets

In Q1 FY26 the company listed as strengths a letter of intent (LOI) covering its capacity until FY28 and a 30% advance payment from the customer.^[1]
In Q1 FY26 the company said it is focused on exporting shells to friendly nations under Atmanirbhar Bharat.^[1]
In Q1 FY27 the company described the market for NMI's grease cartridges as worth over USD 500 million.^[2]
In Q1 FY27 management cited India's defence production of ₹1.46 lakh crore in FY25, with private companies projected to grow at a 25-40% CAGR against 15-18% for DPSUs.^[2]

Expansion and capex

Capex and machinery installation for artillery shells began in June 2025, and machine running trials succeeded in September 2025.^[1]
Line 2 is planned at 2,40,000 shells per year (20,000 a month), and its procurement was under execution as of Q1 FY27. In Q1 FY26 it was planned to add 10,000 shells a month.^[2][1]
In Q1 FY26 the company said it planned to raise capital to pay for Line 2 capex, working capital and R&D.^[1]
As of Q1 FY27 the company plans to acquire a Polish fire-brigade drone company and a packaging-machine company.^[2]

Management projections

In Q1 FY27 management projected sales of ₹161 cr in FY27, ₹309 cr in FY28 and ₹636 cr in FY29.^[2]
In Q1 FY26 management projected FY27 volume of 130,000 shells at USD 275 each and FY28 volume of 210,000 shells at USD 300 each.^[1]

Recent developments

By Q1 FY27 the company had acquired New Mould Innovations of Kentucky, USA, through its US entity.^[2]
In the FY25 annual report, the company proposed a special resolution to issue up to 5 lakh equity shares (face value Rs 10) through a further public offer, QIP, private placement or rights issue.^[4]
Per the FY25 annual report, promoter and whole-time director Sanjay Kumar Pandey holds 15,86,600 shares. He is also a director of Sunita Leoquip Aerospace and Sunita Imperial Aerospace, which are possible related parties.^[4]

Market Cap

₹666 Cr

High / Low

₹1,331 / 553

Stock P/E

107.6

Price / Book

14.1

Book Value

₹112

EPS

₹9.8

No. of Shares

0.63 Cr

ROCE

10.5%

ROE

10.5%

OPM

18.2%

Debt / Equity

0.61

Sales

₹47 Cr

Net Profit

₹6 Cr

Promoter holding

62.7%

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