The Dark Horse Hiding Inside Precision Engineering

While PTC Industries, MTAR, and Azad Engineering get most of the attention, one much smaller name has been posting some of the sector's strongest recent growth, Unimech Aerospace and Manufacturing. What they do: A global aero-tooling manufacturer supplying engine lifting tools, ground support equipment, and precision assemblies to Airbus, Boeing, Dassault, GE, and Rolls-Royce. Recently expanding into defense, power generation, and semiconductors. The numbers that stand out: Q1 FY27 revenue up 71% YoY, EBITDA up 98% YoY, net profit up 46% YoY Management guiding for 65% gross margins and 34-35% EBITDA margins in FY27 Promoter holding is high at 79.8%, meaningful skin in the game But read the growth carefully. FY26 was a disrupted year, US tariff imposition delayed export order pick-up and dragged revenue through the middle quarters. So part of that 71% jump is recovery off a weak base, not purely fresh demand. Strong, but not as clean as the headline number suggests. Why it's still under the radar: market cap is only ~₹8,200 Cr, a fraction of PTC or Sansera and it listed via IPO only in December 2024, so institutional coverage is still thin. The honest caveats: Trades at a P/E of ~113x and 11x book value, richly priced even by this sector's standards No dividend implies everything is being reinvested into growth Export-heavy revenue means tariff and currency policy remain live risks, not one-off events The takeaway: "Dark horse" means a name with real fundamentals that hasn't got mainstream attention yet, not a guaranteed winner. At 113x earnings, the market is already pricing in years of execution.