OBSC Perfection Limited (OBSCP)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, OBSC Perfection's revenue was ₹77.3 Cr (+84.7% year on year, +8.1% on the previous quarter), and net profit ₹9.5 Cr (+88.4% year on year); the operating margin was 17.9%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹77.3 | +84.7% | +8.1% |
| Operating profit | ₹13.8 | +85.1% | +13.2% |
| Net profit | ₹9.5 | +88.4% | +9.4% |
| EPS (₹) | 3.67 | +78.2% | +9.6% |
| Operating margin | 17.9% | — | — |
OBSCP delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 55.56% of the OBSCP shares traded on NSE were taken to delivery, against the stock's own 20-session average of 61.47%. That is close to its usual level.
Delivery in the last 5 sessions: 66.4% · 50.3% · 68.0% · 80.6% · 55.6%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
OBSC Perfection Limited has secured a Letter of Intent (LoI) from an undisclosed domestic components manufacturer valued at ₹17 crores. The contract entails the manufacturing and supply of flange parts utilized in EGR gas pipes. Execution will take place over an estimated period of 5 years from project commencement, averaging approximately ₹3.4 crore annually. This provides steady multi-year revenue visibility, though annualized it represents under 5% of a single quarter's revenue (₹71.52 crore in Mar 2026).
- Received Letter of Intent (LoI) valued at INR 17 crores
- Contract duration is an estimated 5 years from project commencement (approx. ₹3.4 Cr/year)
- Scope covers manufacturing and supply of Flange parts for EGR Gas Pipes
- Awarded by an unrelated domestic components manufacturer (arm's length transaction)
OBSC Perfection Limited submitted its Reconciliation of Share Capital Audit Report under Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The report was issued by Practicing Company Secretary M/s Nitin Bhatia & Co. based on records from Registrar and Share Transfer Agent M/s Bigshare Services Private Limited. Total issued capital confirmed stands at 2,72,85,200 equity shares of face value Rs. 10 each.
- Reconciliation of Share Capital Audit Report filed for quarter ended September 30, 2026
- Total issued share capital stands at 2,72,85,200 equity shares
- Face value of equity shares is Rs. 10/- per share
- Audit certified by M/s Nitin Bhatia & Co., Practicing Company Secretaries
OBSC Perfection Limited has secured in-principle approval from the National Stock Exchange of India (NSE) for listing 14,39,600 equity shares of face value Rs 10 each. These shares were allotted on a preferential basis to non-promoter investors. Final listing and trading will take place after depository confirmation from NSDL and CDSL. This step progresses the company's planned equity infusion to support growth and expansion.
- Received NSE in-principle approval on October 13, 2026, vide letter Ref: NSE/LIST/57639
- Covers 14,39,600 equity shares of face value Rs 10 each allotted to non-promoters
- Distinctive share numbers assigned from 25845601 to 27285200
- NSE in-principle listing approval is valid for 7 working days
OBSC Perfection Limited has secured an additional export nomination letter from Tenneco Automotive Operating Company Inc. valued at approximately ₹77.5 Cr ($1.65 Mn or ~₹15.5 Cr per year) over a 5-year period. This adds to a previously disclosed ₹160 Cr nomination from June 2025, taking the total nomination value under this program to ₹237 Cr. The contract involves manufacturing and supplying Leaf Spring Composite suspension parts to Tenneco's Reynosa plant for an end customer headquartered in Germany. Supplies are scheduled to commence in January 2027.
- Additional export order worth ₹77.5 Cr (USD 1.65 Mn / ~₹15.5 Cr annually) over 5 years
- Total cumulative order value under this Tenneco nomination expands to ₹237 Cr
- Supplies to begin from January 2027 to Tenneco's Reynosa facility for a German OEM
- Execution spans an estimated 5-year period from project commencement
OBSC Perfection Limited has secured its first purchase order for fuze components valued at approximately ₹8.9 crore from Israel-based IMI Systems Limited, an entity of global defense major Elbit Systems. The export contract represents roughly 12.4% of the company's Mar 2026 quarterly revenue (₹71.52 crore). The order is scheduled for execution over the next 6 months. This marks a notable expansion of the company's defense footprint beyond its core automotive component manufacturing base.
- Received initial export purchase order valued at approximately ₹8.9 crore
- Awarded by international client IMI Systems Limited, an entity of Elbit Systems
- Scope entails manufacturing and supply of fuze components
- Execution timeline set within the next 6 months
OBSC Perfection Limited conducted its 10th Annual General Meeting, disclosing key operational updates. The company reported an order book exceeding ₹1,200 Cr, which represents over 5.3x its TTM revenue of ₹224 Cr, providing substantial revenue visibility. Management also highlighted FY26 revenue of ₹219.5 Cr with ₹27 Cr PAT, alongside securing the AS9100D certification to enter the Aerospace & Defence sector. Additionally, the company recently raised ₹86 Cr following an earlier ₹43 Cr preferential issue, deploying proceeds toward capabilities and working capital.
- Order book stands at over ₹1,200 Cr, providing strong long-term revenue visibility
- Reported FY26 performance of ₹219.5 Cr revenue, ₹43.6 Cr EBITDA, and ₹27 Cr PAT
- Raised ₹86 Cr recently, following a ₹43 Cr preferential fundraise during FY26
- Secured AS9100D aerospace certification to target the Aerospace & Defence sector
OBSC Perfection Limited reported an insider trading disclosure under Regulation 7(2) of SEBI PIT Regulations. Mr. Uday Narang, belonging to the promoter group, acquired 1,200 equity shares via open market purchase on September 17, 2026. The total transaction value was Rs 10,90,860, representing approximately 0.004% of the shareholding. Given the company's TTM revenue of Rs 224 Cr, this transaction is minuscule in financial magnitude.
- Purchase of 1,200 equity shares by promoter group member Uday Narang
- Total transaction value of Rs 10,90,860 executed on September 17, 2026
- Post-acquisition holding reported at 1,200 equity shares (0.004%)
- Shares purchased through open market mode while trading window was open
OBSC Perfection Limited has appointed Ms. Heena Arora as its Company Secretary and Compliance Officer (Key Managerial Personnel) effective September 16, 2026. Ms. Arora is an ICSI member with 6 years of post-qualification experience across Corporate, SEBI, and FEMA laws, previously serving at Napino Auto and Electronic Limited since May 2024. This is a routine statutory management appointment that satisfies listing compliance requirements with no direct financial impact.
- Appointment effective date: September 16, 2026
- Appointed official: Ms. Heena Arora as Company Secretary and Compliance Officer
- Experience: 6 years of post-qualification experience in Corporate, SEBI, and FEMA laws
- Previous position: Company Secretary at Napino Auto and Electronic Limited since May 2024
OBSC Perfection Limited has disclosed the resignation of its Company Secretary and Compliance Officer, Mr. Mudit Johri. The resignation letter was submitted on August 14, 2026, and took effect on September 14, 2026. The departure is attributed to pursuing an alternate career opportunity outside the organization. The company will need to appoint a successor to manage listing and secretarial compliances.
- Resignation of CS and Compliance Officer Mr. Mudit Johri effective September 14, 2026
- Resignation letter previously tendered on August 14, 2026
- Reason stated is to pursue an alternate career opportunity outside the organization
- Company reported TTM revenue of Rs 224 Cr and net profit of Rs 28 Cr
OBSC Perfection has approved the allotment of 14,39,600 equity shares at an issue price of ₹601 each (face value ₹10 with a premium of ₹591), raising ₹86.52 crore on a preferential basis. The capital raised represents approximately 38.6% of the company's TTM revenue (₹224 crore) and about 50.3% of its net worth (₹172 crore). The shares were allotted to non-promoter institutional/corporate investors, Sixteenth Street Asian Gems Fund (11,64,800 shares) and Mirasol Finance Pvt Ltd (2,74,800 shares). Following this allotment, the paid-up capital increases to ₹27.29 crore consisting of 2,72,85,200 equity shares.
- Allotment of 14,39,600 equity shares at ₹601 per share (including ₹591 premium)
- Total capital raised stands at ₹86,51,99,600 (approx. ₹86.52 crore)
- Sixteenth Street Asian Gems Fund allotted 11,64,800 shares; Mirasol Finance Pvt Ltd allotted 2,74,800 shares
- Paid-up equity share capital increases to ₹27,28,52,000 comprising 2,72,85,200 shares of ₹10 each
OBSC Perfection Limited has signed a preliminary, non-binding Memorandum of Understanding (MoU) dated September 9, 2026, with Aethrone Aerospace to explore setting up a joint precision manufacturing facility in New Mexico, USA. The collaboration aims to address Tier-1 to Tier-3 aerospace and defence supply chains across North America. The MoU has a tenure of 36 months, with financial terms, capex commitment, and equity structures yet to be determined in definitive agreements. This aligns with OBSCP's broader strategy to expand export presence beyond its current 20.1% share and diversify away from its 82.4% automotive concentration.
- MoU signed on September 9, 2026, valid for a duration of 36 months
- Exploration of a joint precision manufacturing facility in New Mexico, USA
- Partner Aethrone Aerospace has completed 160+ aerospace and defence projects since 2015
- Targeting Tier-1, Tier-2, and Tier-3 aerospace and defence supply chains
- MoU is currently non-binding; capex and financial arrangements are not disclosed
OBSC Perfection Limited has dispatched letters to shareholders without registered email addresses providing web links to the FY2025-26 Annual Report and Notice of the 10th AGM. The 10th Annual General Meeting is scheduled for September 29, 2026, at 02:30 PM IST via Video Conferencing. The cut-off date for e-voting eligibility is September 22, 2026, with remote e-voting running from September 26 to September 28, 2026. This is a routine administrative compliance filing under SEBI LODR Regulation 36(1)(b).
- 10th Annual General Meeting scheduled for Tuesday, September 29, 2026, at 02:30 PM IST via VC/OAVM
- E-voting cut-off date fixed as Tuesday, September 22, 2026
- Remote e-voting period runs from September 26, 2026 (09:00 AM IST) to September 28, 2026 (05:00 PM IST)
- Letter dispatched per Regulation 36(1)(b) to shareowners without registered email IDs
OBSC Perfection Limited has issued the notice for its 10th Annual General Meeting (AGM) scheduled for September 29, 2026, through video conferencing. The company also announced the dispatch of its Annual Report for FY26 to shareholders. The cut-off date to determine remote e-voting and AGM voting eligibility has been set as September 22, 2026. This is a standard statutory corporate filing without any operational or financial updates.
- 10th Annual General Meeting to be held on Tuesday, September 29, 2026
- Meeting to be conducted via Video Conferencing / Other Audio-Visual Means (VC/OAVM)
- Cut-off date fixed as Tuesday, September 22, 2026, for e-voting eligibility
- Electronic copies of the FY26 Annual Report dispatched to registered email addresses
OBSC Perfection Limited has issued the notice and annual report for its 10th Annual General Meeting scheduled for September 29, 2026. The record/cut-off date to determine e-voting eligibility has been set for September 22, 2026. Key agenda items include adopting FY26 audited accounts, re-appointing retiring Director Ashwani Leekha, and approving material related-party transactions with Omega Bright Steel & Components Pvt Ltd for FY27. Annual report commentary also noted that ROCE settled at 17.08% in FY26 following a Rs 43.3 crore preferential equity infusion and ongoing capital expansion.
- 10th AGM to be held virtually on Tuesday, September 29, 2026, at 02:30 PM IST
- Cut-off date fixed as Tuesday, September 22, 2026, to determine remote e-voting eligibility
- Special resolution proposed to approve material Related Party Transactions with Omega Bright Steel & Components Private Limited for FY 2026-27
- Company reported 190 permanent employees on roll as of March 31, 2026, with an average non-managerial salary hike of 17.06%
OBSC Perfection Limited announced that it has been recommended for AS9100D Certification by TUV India Private Limited on September 7, 2026, following a successful audit. The certification covers the manufacture of precision machined metal components, with formal certificate issuance expected shortly. This quality milestone is designed to fast-track the company's entry into the aerospace segment and facilitate customer qualification, supporting its strategic diversification beyond the core automotive base (which contributes 82.4% of revenue).
- Received recommendation letter for AS9100D Certification on 7th September, 2026.
- Certification scope covers 'Manufacture of Precision Machined Metal Components' audited by TUV India Private Limited.
- Positions the company to qualify as a supplier for aerospace segment clients and reduce concentration in automotive (82.4% of revenue).
Financial Performance
Revenue Growth by Segment
The Automotive segment remains the primary driver, contributing 82.4% (INR 72.99 Cr) of revenue in H1 FY26, though its share decreased from 91.1% in FY25 as the company diversified. The Defense segment showed explosive growth, with H1 FY26 revenue of INR 5.46 Cr nearly matching the entire FY25 revenue of INR 5.55 Cr, now representing 6.2% of total sales. Marine revenue contributed 6.5% (INR 5.80 Cr) in H1 FY26, while new segments like Renewables (0.7%) and Telecom (0.1%) remain nascent.
Geographic Revenue Split
Domestic sales account for 79.9% of total revenue as of FY25. Exports contribute 20.1% (INR 17.91 Cr), with the company expanding its international footprint from 10 countries in FY24 to 13 countries in FY25, reducing dependence on the Indian market.
Profitability Margins
Net Profit Margin (PAT %) has seen a significant upward trend, rising from 4.7% in FY23 to 10.5% in FY24, 11.5% in FY25, and reaching 11.6% in H1 FY26. This improvement is driven by a shift toward high-value precision components in the Defense and Marine sectors.
EBITDA Margin
EBITDA margin improved to 19.5% in H1 FY26, an 80 bps increase compared to 18.7% in H1 FY25. Absolute EBITDA for H1 FY26 stood at INR 17.65 Cr, representing a 37.7% YoY growth, reflecting better operational leverage and product mix.
Capital Expenditure
The company has aggressively expanded its asset base, with fixed asset purchases of INR 33.27 Cr in FY25 and INR 17.52 Cr in H1 FY26. Total Gross Block reached INR 88.15 Cr by September 2025 to support the establishment of Unit 5 for Forging and capacity increases in Machining.
Credit Rating & Borrowing
The company maintains a conservative leverage profile with a Debt-Equity ratio of 0.37x as of H1 FY26, down significantly from 1.87x in FY23. Finance costs for H1 FY26 were INR 1.57 Cr, representing 1.7% of total revenue.
Operational Drivers
Raw Materials
The primary raw materials are High Carbon Steel Bars and Low Carbon Steel Bars, which are essential for the production of precision machined and forged components.
Import Sources
Raw materials are primarily sourced domestically within India, leveraging the ecosystem of the promoter group's existing steel manufacturing facilities.
Key Suppliers
A key strategic supplier is the Anglian Omega Group, a corporate promoter of OBSCP that specializes in manufacturing High/Low Carbon Steel Bars, ensuring supply chain integration.
Capacity Expansion
The company operates 5 manufacturing units. Recent expansions include the 2025 establishment of Unit 5 in Pune dedicated to Forging and the 2023 commencement of Unit 3 in Tamil Nadu for Machining to serve southern Indian clients.
Raw Material Costs
Consumption and manufacturing expenses stood at INR 55.81 Cr in H1 FY26, representing approximately 63% of operational revenue. The company utilizes a mix of in-house manufacturing and strategic sourcing to manage costs.
Manufacturing Efficiency
Efficiency is highlighted by the improvement in ROCE, which reached 40.6% in FY25, indicating high productivity from the capital employed in manufacturing assets.
Strategic Growth
Expected Growth Rate
32%
Growth Strategy
Growth is targeted through sector diversification and capital infusion. The company is raising approximately INR 53.21 Cr via a preferential issue of 17,11,200 equity shares at INR 311 each to fund expansion. Strategically, it is moving into the Medical sector (first order of INR 1.77 Cr received in Dec 2025) and scaling its Defense business, which grew to 6.2% of revenue in H1 FY26.
Products & Services
Precision turned parts, machined components, investment castings, forgings, and specialized medical implant parts.
Brand Portfolio
OBSC Perfection
New Products/Services
Entry into the Medical Implants industry with a new product line of implant parts, expected to contribute to revenue starting Q3 FY26 following a INR 1.77 Cr initial order.
Market Expansion
Expansion into the US market is supported by the appointment of a dedicated Advisor for the USA to increase export contributions beyond the current 20.1%.
Strategic Alliances
The company maintains a strong relationship with the Anglian Omega Group for raw material security and technical synergy.
External Factors
Industry Trends
The industry is shifting toward high-precision engineering and localized manufacturing for Defense and Medical sectors. OBSCP is positioning itself as a multi-sector precision player to capture this 15-20% industry-wide growth trend.
Competitive Landscape
Competes with other precision component manufacturers in the SME and mid-cap space, though its multi-process capability (casting and forging) provides a competitive edge.
Competitive Moat
The moat is built on integrated manufacturing (Casting + Forging + Machining) and a diversified sector base (Auto, Defense, Marine, Medical). This 'one-stop-shop' capability for precision parts is sustainable due to high capital requirements and technical certifications (IATF 16949).
Macro Economic Sensitivity
Highly sensitive to the Indian Automotive sector's growth and the government's 'Make in India' initiatives in the Defense sector, which drove a 32% YoY revenue increase.
Consumer Behavior
Increased demand for high-quality medical implants and advanced defense equipment is shifting the company's focus toward non-automotive high-margin segments.
Geopolitical Risks
Trade barriers or shifts in global supply chains could impact the 20.1% export revenue, particularly as the company seeks to expand its US presence.
Regulatory & Governance
Industry Regulations
Operations are subject to stringent IATF standards for automotive components and specific precision standards for the new medical implant segment.
Environmental Compliance
The company holds ISO 9001:2015 and IATF 16949:2016 certifications, ensuring compliance with international quality and manufacturing standards.
Taxation Policy Impact
The effective tax rate for H1 FY26 was approximately 18.4% (INR 2.36 Cr tax on INR 12.87 Cr PBT).
Legal Contingencies
No pending material court cases or litigation values were disclosed in the provided investor and regulatory filings.
Risk Analysis
Key Uncertainties
The primary uncertainty is the successful ramp-up of the new Forging unit (Unit 5) and the absorption of the 17.11 lakh new shares being issued, which could dilute earnings if growth does not materialize.
Geographic Concentration Risk
100% of manufacturing facilities are located in India (Pune and Tamil Nadu), creating a high geographic concentration risk for production.
Third Party Dependencies
Significant dependency on the promoter-linked Anglian Omega Group for raw material supply, though this also provides supply security.
Technology Obsolescence Risk
Risk of shift toward Electric Vehicles (EVs) which require fewer traditional engine/transmission machined parts; the company is mitigating this by diversifying into Defense and Medical sectors.
Credit & Counterparty Risk
Trade receivables stood at INR 42.09 Cr in H1 FY26, representing 46.5% of half-yearly revenue, indicating a significant credit period provided to customers.
