Walchandnagar Industries Buys Majority Stake in Defence Startup Aicitta

Walchandnagar Industries Limited (WIL) is a distinguished Indian enterprise specialising in heavy engineering products and Engineering, Procurement, and Construction (EPC) services. Founded in 1908 by the visionary industrialist Walchand Hirachand Doshi, WIL has been instrumental in shaping India’s industrial landscape and driving infrastructure advancements.

WIL Acquisition of Aicitta

WIL announced that its Board of Directors, in a meeting held on Tuesday, March 4, 2025, approved the acquisition of securities in Aicitta Intelligent Technology Private Limited (Aicitta). Aicitta is a pioneering entity engaged in research and development within the defence sector, particularly in unmanned systems.

The acquisition will be executed in multiple tranches over a period of 31 months, with the first tranche expected within 45-60 days, subject to standard conditions. WIL views this investment as a crucial step in fortifying its presence in the defence sector by harnessing synergies with Aicitta’s cutting-edge expertise in autonomous technologies.

About the Project

“The transaction shall be completed in phases over 31 months from the initial investment, with each tranche contingent upon customary conditions, prerequisites, and milestones outlined in the transaction documents,” the company stated.

The deal involves formal agreements with Aicitta’s promoters, Arjun Das and Vikram Sarin, encompassing a share subscription agreement and a shareholders’ agreement, solidifying WIL’s stake in this high-growth venture.

WIL Q3 FY25 Results

WIL reported a resilient performance in Q3 FY25, with total revenue standing at ₹62.39 crore, a marginal decline from ₹62.60 crore year-on-year. Revenue from operations surged to ₹59.07 crore from ₹55.86 crore in Q3 FY24. 

The company’s EBITDA stood at negative ₹2.36 crore, compared to negative ₹1.23 crore last year, with the EBITDA margin at -3.99%. Pre-tax loss improved to ₹17.13 crore from ₹18.66 crore, with the pre-tax loss margin narrowing to -29% from -33% YoY.

Share Price Performance 

At 9:29 AM on March 3, 2025, Walchandnagar Industries Ltd shares traded 3.02% up at ₹158.93 per share on the NSE.

Conclusion

Walchandnagar Industries Limited reinforces its commitment to innovation and expansion within the defence sector. By leveraging Aicitta’s expertise in unmanned systems, WIL aims to strengthen its technological capabilities and enhance its competitive edge in a rapidly evolving industry.

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