Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 28 Aug
Source: Bse
Dynamatic Technologies Limited (DYNAMATECH)
Micro CapIndustrials stocks · Micro cap · NSE
Dynamatic Technologies Limited is an Indian manufacturer of highly engineered products for the aerospace, hydraulics, and metallurgy industries. It serves as a Tier I supplier to global OEMs like Airbus and Boeing, holds a 70% share in India's organized tractor hydraulics market, and operates facilities in India, UK, and Germany.
Data qualityFresh enough for analysisQuote updated 21 Oct, 05:57 pm ISTDetails
Quote21 Oct, 05:57 pm IST
Base fundamentals21 Oct 2026 · screener
Latest result16 Aug, 12:51 am IST
Score21 Oct, 06:09 pm IST · v4.3-runtime-valuation
Tags04 Oct 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
55NeutralSMA20 +15.0% / mo · MACD −
Stock trend: 61
Sector RS: 46
Sector 3M: -7.1% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
DYNAMATECHD candles · FIT view+3.0%Latest close ₹12787.00 on 2026-10-21
Bar
-6.1%
RSI
46
MACD hist
-132.74
52W pos
75%
2026-10-21O ₹13621.00H ₹13691.00L ₹12561.00C ₹12787.00Vol 28,393 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
DYNAMATECHNifty India ManufacturingNifty 500
- DYNAMATECH
- +23.5%
- Nifty 500
- -6.5%
- Nifty India Manufacturing
- -7.7%
- Vs Nifty 500
- +30.0 pp
Chart stats
21 Oct 2026- From 52W high
- -11.8%
- 52W range position
- 75%
- ATR (14)
- 4.7%
- Volume vs 20D
- 0.97x
- Avg traded value
- ₹40.5 Cr
- 20D price channel
- ₹12,102 - ₹14,498
₹14,498
₹7,610 - ₹14,498
₹600.1
Latest completed session
20-session average
51.5% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · OVERVALUED25
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent80
Revenue +14.6% · PAT +90.9% YoY
Technical
Neutral55
Price trend and sector-relative-strength timing.
Valuation
Legacy model-386.3%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence70
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 80/100Rev +15% YoY · PAT +91% YoY · margin expansion · operating leverage
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹425 Cr | +14.6% | -1.9% |
| EBITDA | ₹55 Cr | +44.7% | +12.2% |
| Operating margin | 13.0% | +300 bps | +200 bps |
| PAT | ₹21 Cr | +90.9% | +61.5% |
| PAT margin | 4.9% | +198 bps | +194 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 149.00
- P/B
- 10.24
- EV/EBITDA
- 33.67
- Market Cap
- 8721.00Cr
Profitability
- ROE
- 6.67%
- ROCE
- 10.20%
- ROA
- 2.27%
- Dividend Y
- 0.07%
Growth (CAGR)
- Revenue 5Y
- 8.00%
- EPS 5Y
- 34.00%
- Revenue 3Y
- 7.00%
- EPS 3Y
- 6.00%
Balance Sheet
- Debt/Equity
- 0.80
- Interest Coverage
- 3.39×
- Altman Z
- 6.97
- Book Value
- 1251.00
Cash Flow
- FCF Yield
- 0.38%
- FCF Positive Y
- 11/5
- OCF
- 95.00 Cr
- EPS TTM
- 66.91
Shareholding
- Promoter Hold
- 41.50%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 75%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 1,621+15.5% vs prev
Net Profit
₹ CrLatest: 32.0-25.6% vs prev
Return on Equity
%Latest: 4.0-32.7% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 46. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~13.1% over last month) — short-term momentum positive.
- RSI(14) at 46 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 12% off 52W high · 68% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
89
RS percentile
Stage 2 UptrendEstablished S2
1M return
+5.1%
3M return
+23.5%
6M return
+9.5%
1Y return
+65.1%
RS 1D
-1
RS 20D
+2
Sector rank
#2
Industry rank
#1
Stage evidence
- Price is 14.5% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +4.3%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
31 Jul 2026
S2 age
56 trading sessions
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 197.06-5.25%
RS vs Nifty 500197
Valuation & peers
U-Score 25 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 25 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth11/25
Quality0/20
Balance Sheet5/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
25
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
25/100 · legacy band OVERVALUED
Positive drivers
- Piotroski is strong at 8/9.
- Growth contributes 11/25 to the score.
- Cash flow contributes 4/10 to the score.
Main drags
- Fair-value margin of safety is negative at -386.3%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
149.0
PB
10.2
EV/EBITDA
33.7
ROE
6.7%
ROCE
10.2%
FCF Yield
0.4%
Debt/Equity
0.8
MoS
-386.3%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
25
Previous: 25
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-386.3%
Previous: -386.3%
Score history
12 stored score snapshots. Latest stored move: +1 points.
21 Oct 2026
v4.3-runtime-valuation
24
24
24
24
24
24
24
24
24
24
24
25
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹1,372.35
-831.8% MoS
Growth-justified P/E
39.3
Growth-justified Value
₹2,629.56
-386.3% MoS
PEG
6.54
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
SIKA
Micro
Sika Interplant Systems Limited
Aerospace & Defence
match 133
61
62.6
25.1%
-43%
UNDERVALUED
AEQUS
Micro
Aequs Limited
Aerospace & Defence
match 125
9
—
-10.0%
—
OVERVALUED
APSISAERO
Micro
Apsis Aerocom Ltd.
Aerospace & Defence
match 124
58
84.4
25.5%
-142%
FAIR VALUE
IDEAFORGE
Small
Ideaforge Technology Limited
Aerospace & Defence
match 123
13
888.0
-3.3%
-19506%
OVERVALUED
AXISCADES
Micro
AXISCADES Technologies Limited
Engineering R&D Services
match 101
32
271.0
11.5%
-524%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-09T07:23:04.258Z
Management commentary snapshot
FY26 revenue grew 15.5% YoY to Rs. 16,213.4 mn, driven by Aerospace (+27.6%). Q4FY26 revenue rose 13.8% YoY to Rs. 4,331.6 mn. FY26 EBITDA up 15.4% YoY, with margins stable at 11.3%. Q4 EBITDA up 28.1% YoY, margin improved to 11.2%. PAT (ex-exceptional) up 39.4% for FY26 and 17.9% for Q4.
The Aerospace segment continues to be the primary growth driver, anchoring overall performance with robust revenue growth and strategic partnerships. Hydraulics India shows stable demand, while UK restructuring aims for margin recovery. Metallurgy faces significant headwinds, but management is diversifying. Overall, the core thesis of aerospace-led growth appears intact, though European operations remain a drag.
Current business mix
FY2026 Revenue Breakup
Latest issuer-disclosed distribution across 3 reported categories.
Aerospace48.0%
Hydraulics30.0%
Metallurgy22.0%
Growth engines
Aerospace Segment Performance
Aerospace segment revenue up by 27.6% for FY26, anchoring company performance and remaining largest contributor to revenues and profitability.
Global Aerospace Supply Chain Position
Strengthened position in global aerospace supply chain through deeper OEM engagement and advanced manufacturing expansion.
India Hydraulics Demand
India business benefited from improving mechanisation trends and infrastructure activity, supporting stable Hydraulics performance.
Capacity and execution
Airbus A220 Doors Delivery Readiness
Successful delivery readiness of the first complete ship-set of all eight Airbus A220 doors from Bengaluru facility, completed ahead of schedule.
Tailwinds
Strong Global Aerospace Demand
Aerospace segment remains well positioned for strong growth, supported by strong demand across commercial and defence aerospace programs.
Increasing India's Role in Aerospace
India's growing role in the global aerospace supply chain and emergence as a competitive manufacturing hub.
Domestic Hydraulics Demand
Stable domestic demand, increasing farm mechanization, and infrastructure activity in India for Hydraulics segment.
Headwinds
German Automotive Sector Weakness
Metallurgy segment faced challenging market conditions due to weakness in the German automotive sector.
Elevated Energy Costs in Europe
Metallurgy segment impacted by elevated energy costs and geopolitical uncertainties in Europe.
UK Hydraulics Reduced OEM Demand
UK Hydraulics revenue declined due to reduced OEM demand and planned operational rationalization.
Risk radar
European Market Volatility
Metallurgy segment faces cautious demand environment in Europe, particularly across automotive-linked industrial markets, and fierce global competition in Germany.
Margin Pressure in Aerospace
Aerospace profitability was broadly stable in Q4 and grew moderately for the year, indicating some margin normalization amid growth investments.
Foreign Exchange Fluctuations
Foreign exchange impact was favorable YoY, but currency movements can significantly alter reported revenue and EBITDA on a constant currency basis.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
The presentation provides detailed YoY comparisons for both Q4 and FY26, which are crucial for assessing annual performance and seasonal trends. QoQ comparisons are also provided, useful for tracking sequential momentum and recent operational shifts.
Sector KPIs management disclosed
FY26 Revenue Growth
Revenue of Rs. 16,213.4 mn; up by 15.5% from Rs. 14,038.0 mn in FY2025.
FY26 EBITDA Margin
EBITDA margin of 11.3%; down by 1 bps from FY2025.
Q4FY26 EBITDA Margin
Q4FY2026 EBITDA margin of 11.2%; up by 120 bps from Q4FY2025.
FY26 Net Cash Generated from Operating Activities
Net cash generated from operating activities (A) FY26: Rs. 953.4 mn vs FY25: Rs. 1,443.3 mn.
Management forward view
Aerospace Strategic Focus
Focus remains on scaling complex aerostructure programs, deepening OEM relationships, and strengthening advanced manufacturing and engineering capabilities.
Hydraulics Restructuring & Efficiency
UK restructuring program progressed steadily with rationalisation of selected product lines and workforce optimisation to improve long-term competitiveness and margins.
Metallurgy Diversification
Advancing diversification into aerospace, defence, and specialised engineering segments to strengthen margins and reduce dependence on traditional automotive.
New Aerospace Composites Collaboration
Entered collaboration with Hutchinson to expand capabilities across advanced aerospace composites for next-generation platforms.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Aerospace Segment Revenue Growth | FY26: +27.6% YoY; Q4FY26: +21.6% YoY | Sustained high growth rates and new program wins, especially from strategic partnerships and defence initiatives. |
| Metallurgy Segment Profitability | FY26 EBITDA: Rs. 28.3 mn (-71.8% YoY); Q4FY26 EBITDA: Rs. 31.5 mn (-17.3% YoY) | Signs of margin recovery and successful diversification into higher-value aerospace/defence applications to offset automotive weakness. |
| Net Debt/LTM EBITDA | 2.5x as of Mar-26 | Trend in leverage, especially with ongoing investments and potential working capital changes. |
| UK Hydraulics Restructuring Impact | Revenue declined due to reduced OEM demand and planned operational rationalization. | Evidence of margin recovery and improved operational efficiency from restructuring initiatives over the medium term. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
70Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 63rd percentile of the scored universe and 60th percentile within Industrials. Main check: financial discipline is weak at 52/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
39 docs text-extracted · 2 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
63rd percentile
overall median 67 · Industrials: 60th pctile, median 68 · Micro: 43rd pctile, median 73
Evidence depth
Financial-only
39 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
73
acceptable · leverage and solvency
Discipline
52
watch · capital discipline
Results
68
acceptable · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.4%.
- ▸11 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸ROE is low at 6.7%.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Dynamatic Technologies Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 21 Aug - Copy of News paper publication - AGM Notice
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 20 Aug
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.