Defence & Aerospace

Independent equity research on Indian defence and aerospace stocks. Each Zumedha report values the company with DCF, relative valuation, asset-based (NAV), earnings power (EPV) and sum-of-the-parts methods, then sets a clear Buy Range, Sell Range and risk-and-catalyst view. Coverage spans defence electronics, aircraft and helicopters, ammunition and explosives, simulators, anti-drone systems, and aerospace components. Earnings in this sector depend on order book size and execution, government procurement and indigenisation policy, export growth, long working capital cycles, and the timing of large contract wins, and our reports test each of these against current valuations, which often price in years of growth