Synopsis:
Euro Asia Exports Limited, now operating as RRP Defense Limited, received an LOI from CYGR to manufacture Drone Command Modules in India, valued at USD 20–30 million.
This micro-cap defence stock, engaged in the design, development, and manufacturing of advanced defence systems, including drones, command modules, and related aerospace technologies, hit a 2 percent upper circuit after receiving an order worth $30 million from CYGR for drone technology.
With a market capitalization of Rs. 35.13 crores, the shares of Euro Asia Exports Limited hit a 2 percent upper circuit of Rs. 223.90 per share on Friday, up from its previous closing price of Rs. 219.55 per share.
Euro Asia Exports Limited, now operating under the name RRP Defense Limited, has received a strategic Letter of Intent (LOI) from CYGR, a France-based leader in drone technologies. The LOI outlines plans to allocate the production, assembly, and testing of Drone Command Modules (DCMs) to its Indian manufacturing facility.
The estimated contract value ranges between USD 20–30 million for up to 1000 units. This order signifies a major growth milestone for RRP Defense Limited and aligns with the Make in India. The company’s transition from Euro Asia Exports to RRP Defence Limited reflects its evolving focus towards high-tech defense manufacturing and international collaboration, reinforcing its commitment to indigenous capabilities and global defence partnerships.
RRP Defense Limited is an Indian listed company that has rapidly transformed into a prominent player in the country’s defense and drone technology sector. Previously known as Euro Asia Exports Limited, the company rebranded in 2025 as it shifted its strategic focus from textiles and trading to advanced defence manufacturing, especially unmanned aerial systems (UAS) and related technologies.
Euro Asia Exports Limited (RRP Defense Limited) has entered into a strategic joint venture with CYGR, a France/USA based drone technology company. The partnership focuses on manufacturing and R&D of tactical and industrial drones. RRP Defense holds a majority 90 percent stake in the venture, while CYGR holds the remaining 10 percent, strengthening RRP’s position in the global drone industry.
Coming into financial highlights, Euro Asia Exports Limited’s revenue has increased from Rs. 0.09 crore in Q3 FY24 to Rs. 3.45 crore in Q3 FY25, which has grown by 3,733.33 percent. The net profit has also grown by 2,000 percent from Rs. 0.01 crore in Q3 FY24 to Rs. 0.21 crore in Q3 FY25.
In terms of return ratios, the company’s ROCE and ROE stand at 7.27 percent and 4.21 percent, respectively. Euro Asia Exports Limited has an earnings per share (EPS) of Rs. 1.53, and its debt-to-equity ratio is 0.38x.
Written By – Nikhil Naik
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