The company signed an MoU with CYGR to manufacture advanced drones in India. With rising revenues and profit, the firm is pivoting from textiles to cutting-edge defense and aerospace technologies under the Make in India initiative.
The shares of this micro-cap company hit 2 percent upper circuit in today’s trading session after the company signed a Memorandum of Understanding (MoU) to manufacture advanced drone systems in India. With a market capitalization of Rs 32.47 crore, the shares of Euro Asia Exports Ltd were trading at Rs 206.95 per share, increasing around 2 percent as compared to the previous closing price of Rs 202.90 apiece.
The shares of Euro Asia Exports Ltd (RRP Defense Ltd) have seen bullish movement after it signed an MoU with CYGR, a Franco-American drone tech firm, to form a joint venture for manufacturing advanced drones in India. This strategic move aligns with the Make in India initiative and boosts the company’s presence in the growing defense technology sector.
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Furthermore, RRP Defense Ltd will hold a 90% stake in a joint venture with CYGR, which will retain 10%. The partnership aims to establish a cutting-edge drone manufacturing unit and R&D center in Navi Mumbai, reinforcing RRP’s commitment to indigenous defense technology and advancing India’s aerospace capabilities.
Additionally, the collaboration focuses on developing advanced drone systems for defense, surveillance, and strategic uses. Emphasizing local manufacturing, technology transfer, and skill development, the partnership aims to strengthen India’s self-reliance in aerospace and defense sectors while fostering innovation and technical expertise through next-generation UAV solutions tailored for national security needs.
Looking forward to the company’s financial performance, revenue increased by 40 percent from Rs 12.30 crore in Q4FY24 to Rs 10.44 crore in Q4FY25. Further, during the same time frame, net profit increased by 23,650 percent from Rs 48 thousand to Rs 1.14 crore.
RRP Defense Ltd, formerly known as Euro Asia Exports Limited, is involved in the trading of clothes and other materials, including textiles and apparel. They also trade in sponge iron. More recently, the company, under its new name RRP Defense Limited, has been recognized for its work in the defense sector, particularly in electro-optics, through its subsidiary RRP S4E Innovation Ltd.
Written by Abhishek Singh
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