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RRP S4E innovation Unlisted Shares
DRHP Status : Not Filed
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Fundamentals About RRP S4E innovation
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Key Financials of RRP S4E innovation
| P&L Statement | 2022 | 2023 | 2024 |
|---|---|---|---|
| Revenue | 3831 | 3120 | 4057 |
| Cost of Material Consumed | 1914 | 1983 | 1877 |
| Change in Inventory | 68 | -978 | -300 |
| Gross Margins | 48.26 | 67.79 | 61.13 |
| Employee Benefit Expenses | 237 | 253 | 213 |
| Other Expenses | 385 | 273 | 204 |
| EBITDA | 1227 | 1589 | 2063 |
| OPM | 32.03 | 50.93 | 50.85 |
| Other Income | 4 | 57 | 20 |
| Finance Cost | 92 | 195 | 254 |
| D&A | 277 | 320 | 203 |
| EBIT | 950 | 1269 | 1860 |
| EBIT Margins | 24.8 | 40.67 | 45.85 |
| PBT | 862 | 1131 | 1627 |
| PBT Margins | 22.5 | 36.25 | 40.1 |
| Tax | 240 | 278 | 342 |
| PAT | 622 | 853 | 1285 |
| NPM | 16.24 | 27.34 | 31.67 |
| EPS | 13.07 | 11.89 | 15.08 |
Financial Ratios |
2022 | 2023 | 2024 |
|---|---|---|---|
| Operating Profit Margin | 32.03 | 50.93 | 50.85 |
| Net Profit Margin | 16.24 | 27.34 | 31.67 |
| Earning Per Share (Diluted) | 13.07 | 11.89 | 15.08 |
| Assets | 2022 | 2023 | 2024 |
|---|---|---|---|
| Fixed Assets | 2257 | 3342 | 3402 |
| CWIP | 0 | 366 | 684 |
| Investments | 0 | 0 | 0 |
| Trade Receivables | 2830 | 2984 | 3438 |
| Inventory | 1287 | 2265 | 2565 |
| Other Assets | 844 | 784 | 3244 |
| Total Assets | 7218 | 9741 | 13333 |
| Liabilities | 2022 | 2023 | 2024 |
|---|---|---|---|
| Share Capital | 476 | 717.7 | 852.14 |
| FV | 10 | 10 | 10 |
| Reserves | 3785 | 5569 | 9965 |
| Borrowings | 535 | 1706 | 1107 |
| Trade Payables | 720 | 731 | 583 |
| Other Liabilities | 1702 | 1017.3 | 825.86 |
| Total Liabilities | 7218 | 9741 | 13333 |
About Company
RRP S4E Innovation Private Limited (RSIPL), founded in 2018 in Mumbai, is a high-growth, debt-light Indian defence-tech company specializing in electro-optics, thermal imaging, and AI-based surveillance systems. Operating in the Make in India space, it offers critical, indigenous technology to the Indian Armed Forces, with 50%+ EBITDA margins
The following table shows a 10-point analysis of RRP S4E Innovation Limited. We will discuss each point in detail after this table.
| Parameter | Key Numbers | Insights |
|---|---|---|
| Business Overview | Incorporated 2018 | A defence-focused electro-optics technology company |
| Industry | Defence · Electro-optics · Surveillance | Operates in defence technology and advanced imaging systems |
| Core Services | Thermal imaging · night vision · surveillance · repair | Offers manufacturing, maintenance, and upgrade solutions |
| Client Base | Defence & security clients | Primarily serves the Indian Army and strategic sectors |
| Revenue | ₹61.75 Cr (FY25) | Strong growth driven by defense orders |
| Profitability | Profitable | PAT stood at ₹19 Cr in FY25 |
| Order Book | ₹120 Cr+ | Strong pipeline with ₹100 Cr executable orders |
| Business Model | Product + contracts | Revenue from manufacturing and defense contracts |
| Global Presence | India + international orders | Exports to regions like USA and UK |
| Outlook | High-growth defence tech | Driven by Make in India and rising defence spend |
Company Overview
(i) RRP S4E Innovation Limited is a defense technology company specializing in electro-optic systems such as thermal imaging, night vision devices, and long-range surveillance equipment.
(ii) Incorporated in 2018 and based in Navi Mumbai, the company focuses on both manufacturing and maintenance of advanced optical systems for defense and security applications.
(iii) Its product portfolio includes reflex sights, telescopic sights, thermal imaging systems, long-range cameras, and image intensification devices.
(iv) The company also operates a dedicated electro-optics repair centre, providing upgrade and lifecycle support services for defense equipment.
(v) RRP S4E has established partnerships with global defense technology firms and is expanding its footprint through exports and international collaborations.
Challenges in RRP S4E Innovation Limited’s Business
- Client concentration: Revenue depends heavily on large defence contracts.
- Working capital pressure: High receivables compared to revenue impact cash flows.
- Negative operating cash flow: Core operations consume cash despite profitability.
- Capital intensive business: High R&D and manufacturing costs required.
Financial Review of RRP S4E Innovation Limited
Here are some highlights of the financial performance of RRP S4E Innovation Limited over the past few years.
FY25 Performance
• Revenue from operations stood at ₹61.75 crore
• Profit after tax reported at ₹19 crore
• Strong growth supported by defence orders
• Order book remained strong at ₹120 crore
FY24 Performance
• Revenue from operations stood at ₹41 crore
• Profit before tax stood at ₹16 crore
• Profit after tax stood at ₹13 crore
• Growth driven by scale and improved efficiency
FY23 Performance
• Revenue from operations stood at ₹31 crore
• Profit after tax stood at ₹9 crore
• Early stage growth with improving profitability
• Increasing adoption of electro-optic solutions
Quick Summary
RRP S4E Innovation Limited is a fast-growing defence technology company operating in the electro-optics segment. The company has demonstrated strong revenue growth and profitability backed by defence contracts and a solid order book. However, challenges such as working capital pressure and reliance on large contracts make it a high-growth but moderately risky unlisted investment.
Click here to visit the official website of RRP S4E innovation
Promoters of RRP S4E Innovation Limited
The following are the active promoters of the company:
| Name | Designation | Promoter Group |
|---|---|---|
| Rajendra Kamalakant Chodankar | Founder & Chairman | Founders & Promoters |
Shareholding Pattern of RRP S4E innovation
| Name | Holding |
|---|---|
| Rajendra Kamalakant Chodankar | 23.47% |
| Priyanka Rajendra Chodankar | 19% |
| Maharashtra Defence & ASF | 9.76% |
| Mantaraj Paliwal | 4.47% |
| OTHERS | 43.3% |
Promoters of RRP S4E innovation
| Name | Designation | Experience | Linkedin Profile |
|---|---|---|---|
| Rajendra Kamalakant Chodankar | Founder & Chariman | 30+ |  |
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Frequently Asked Questions
RRP S4E Innovation Limited unlisted shares are equity shares of the company that are not listed on NSE or BSE and are traded privately.
Yes, RRP S4E Innovation Limited unlisted shares can be purchased through private market platforms, subject to availability.
Yes, a demat account is required to hold RRP S4E Innovation Limited unlisted shares.
The company operates in a high-growth defence sector with strong profitability, but risks like contract dependency and cash flow issues remain.
Yes, RRP S4E Innovation Limited unlisted shares can be sold in the secondary market, depending on buyer availability.
Yes, as per SEBI regulations, pre-IPO investors are subject to a six-month lock-in period after listing.
If held for more than two years, gains are taxed at 20% with indexation; otherwise, taxed as per the income slab.
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