What SMPP does

SMPP Limited is an Indian defence manufacturing company incorporated in 1985 by IIT-alumnus Dr. S.C. Kansal, headquartered in New Delhi with a registered office in Sangrur, Punjab. The company operates across four product verticals: personal protection (bullet-resistant jackets, ballistic helmets, and shields), platform protection (armor kits for military vehicles, naval vessels, and aircraft including a five-year HAL contract to armor 160 Light Combat Helicopter platforms), ammunition (combustible cartridge cases for 120mm/125mm tank calibers, 105mm/130mm/155mm artillery, and mortar augmenting cartridges — including 155mm BMCS/UMCS variants for which SMPP is the only private Indian manufacturer to clear DGQA evaluations), and drone/unmanned systems (turbojet-powered Peacekeeper/Agniveg kamikaze drones, loitering munitions, surveillance, and cargo UAVs). Underlying technology centres on what the company describes as the world's largest integrated boron carbide ceramic manufacturing facility, enabling lightweight multi-hit ballistic protection for high-velocity and armor-piercing threats.

The business model is exclusively Business-to-Government (B2G), with revenue generated through competitive defence tenders, emergency procurement frameworks, and long-term platform contracts with the Indian Ministry of Defence, Ministry of Home Affairs, state police forces, and state-owned defence OEMs such as HAL. There is no public consumer pricing. The customer base spans the Indian Army, Air Force, Navy, Marcos, CAPFs (BSF, CRPF, CISF, SSB, NSG, ITBP), state police forces across multiple states, and a growing international footprint (Philippines JV with ADFC, technology-transfer partnerships with KNDS for KATANA precision-guided artillery and VELOCE/RODEUR loitering munitions). Visible contract wins include a ₹639 crore bulletproof jacket contract, ₹300+ crore emergency BPJ/helmet procurement, ₹2,000 crore ammunition order book, and over ₹1,000 crore in drone system orders, supporting an estimated current annual revenue in the $100M-$250M band. The company filed a Draft Red Herring Prospectus with SEBI in October 2024 to support an IPO and is building an ammunition manufacturing facility in Nalagarh, Himachal Pradesh, operational from March 2026.

Name

SMPP

Legal name

SMPP Limited

Website

https://smgroupindia.com

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

501–1,000 employees

Short description

SMPP Limited is an Indian defence manufacturer (founded 1985) producing bullet-resistant jackets, boron carbide ceramic armor, combustible cartridge cases and artillery ammunition, and loitering munitions/drones. It supplies exclusively to Indian government defence, paramilitary, state police, and HAL, with emerging international exports via a Philippines JV.

Ownership category

akta.pro rank

Product category

Defense Manufacturing (Ballistic Protection & Ammunition)

NAICS

Small Arms Ammunition Manufacturing (332992), Military Armored Vehicle, Tank, and Tank Component Manufacturing (336992), Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing (334511)

SIC

Ordnance & Accessories, (No Vehicles/Guided Missiles) (3480), Search, Detection, Navagation, Guidance, Aeronautical Sys (3812)

akta.pro primary industry

Ammunition Manufacturing (Small-, Medium- & Large-Caliber) (IMABAHAG)

akta.pro secondary industries

Artillery, Mortar & Tank Munitions (IMABAHAH), Military Weapons Integration & Stores Management (IMABAMAG)

Keywords

• Defence manufacturing
• Ballistic protection
• Military ammunition
• Unmanned aerial systems
• Ceramic armor plates

Headquarters

HQ city

Sangrur

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Technology or R&D, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Ballistic Protection Products: Sale of bullet-resistant jackets, armor plates, ballistic helmets, and shields to armed forces, police, and paramilitary personnel. Revenue generated through government defense contracts and emergency procurement orders.
2. Platform Protection: Armor solutions for vehicles, patrol boats, aircraft, and helicopters including five-year contract with HAL to armor 160 Light Combat Helicopter platforms.
3. Ammunition: Manufacturing and supply of combustible cartridge cases for tanks and artillery. Order book of approximately ₹2,000 crore. First export order executed in 2025.
4. Drone and Unmanned Systems: Sale of surveillance drones, loitering munitions (kamikaze), and multipurpose drones. Major orders exceeding ₹1,000 crore secured for drone systems.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

SMPP Limited manufactures and supplies defense products including bullet-resistant jackets, ballistic helmets and shields, boron carbide ceramic plates, combustible cartridge cases for tanks and artillery, 155mm artillery ammunition, Bi-Modular Charge Systems, and drone/unmanned systems such as loitering munitions (Peacekeeper/Agniveg), surveillance drones, and cargo drones. The company also provides platform armor solutions for military vehicles, aircraft, and naval vessels. Customers are primarily Indian Armed Forces, paramilitary forces, state police, and international defense organizations.

Product overview

SMPP Limited is a defence and aerospace company offering an integrated portfolio of ballistic protection, ammunition, and unmanned systems products. The product portfolio spans personal protection (bullet-resistant jackets, helmets, and shields), platform protection (vehicle, aircraft, and naval armour systems using advanced ceramics and composites), and a comprehensive ammunition range (combustible cartridge cases for tanks and artillery, 155mm artillery ammunition, and mortars). The company has expanded into drone and unmanned systems including loitering munitions (Peacekeeper/Agniveg kamikaze drones, multipurpose loitering munitions), surveillance drones, cargo drones, and multipurpose hybrid UAVs. Strategic partnerships with KNDS enable co-development of KATANA artillery ammunition and next-generation loitering munitions (VELOCE, RODEUR, ISTAR) under technology transfer arrangements supporting India's Atmanirbhar Bharat initiative.

Differentiator

Problem solved

Functional benefit

Products and services

• Bullet-Resistant Jackets BIS Level 6 bullet-resistant jackets capable of withstanding 7.62 x 54 mm API B32 API rounds, designed for armed forces, police, and paramilitary personnel offering 360-degree ballistic protection.
• Ballistic Helmets Advanced ballistic helmets using boron carbide ceramic technology offering protection against lethal HSC/API bullets, including ACH helmets, integrated bands, and removable converter bands for armed forces and security personnel.
• Ballistic Shields NIJ-compliant ballistic shields providing protection against handgun and rifle threats for law enforcement and security personnel.
• Vehicle Armour Lightweight armour solutions for military vehicles providing multi-hit protection against AK47, rifle fire, and IEDs, featuring NIJ Level IIIA through IV standards.
• Aircraft Armour
• Naval Armour
• Armour Kits
• Combustible Cartridge Cases (CCC)
• 155mm Artillery Ammunition
• Bi-Modular Charge System (BMCS)
• Ceramic Plates - Defence Application
• Ceramic Plates - Industrial Application
• Peacekeeper (Agniveg) Kamikaze Drone
• Loitering Munition (Multipurpose)
• Loitering Munition (Kamikaze)
• Multipurpose Drone
• Cargo Drone
• Recce/Surveillance Drones

Quantifiable outcome

• Circular Error Probable (CEP) of less than 5 metres for Peacekeeper drones operating in heavily jammed and spoofed environments
• +4 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered core and strategic.

• KNDS (Franco-German defence group)coreStrategic or Co-development Partner · 18 June 2026Teaming agreement signed at Eurosatory Exhibition in Paris on June 18, 2026, to manufacture advanced loitering munitions (VELOCE and RODEUR systems) and ISTAR family of drones in India through SMPP Ammunition subsidiary. Partnership combines technology transfer with indigenous manufacturing under Atmanirbhar Bharat vision.
• KNDS (Franco-German defence group)coreStrategic or Co-development Partner · 20 November 2025Teaming agreement to offer the Katana family of 155mm precision-guided artillery ammunition to the Indian Army under Make in India policy. The Katana family includes KATANA Ballistic Range (BR), Extended Range (ER) and High Precision (HP) ammunition. Agreement signed at Milipol Exhibition in Paris on November 20, 2025.
• Asia Defence and Firepower Corporation (ADFC), PhilippinesstrategicStrategic or Co-development Partner · 1 August 2025MoU signed to establish a joint venture company (JVC) in the Philippines during President Ferdinand R. Marcos Jr's state visit to India. Proposed JVC to be majority-owned by Filipino stakeholders for assembling and distributing select defence products aligned with Manila's Self-Reliant Defence Posture (SRDP) goals.
• Hindustan Aeronautics Limited (HAL)coreStrategic or Co-development Partner · 1 January 2025Five-year contract awarded to SMPP by HAL to armor 160 Light Combat Helicopter (LCH) platforms. Highlights SMPP's leadership in aerospace-grade armour solutions with precision engineering and weight management requirements.

Scale indicators10 records

Recent moves11 records

Expansion highlights6 records

Emerging players

• Data Patterns (India): Indian defence electronics company building radar, electronic warfare, and avionics systems. Comparable as a smaller-scale listed Indian defence company competing for indigenous defence contracts, though focused on electronics rather than SMPP's munitions/protection portfolio.
• Astra Microwave Products: Indian manufacturer of RF/microwave components and subsystems for defence radars, electronic warfare, and missiles. Comparable in the defence electronics space relevant to SMPP's drone guidance and navigation systems.

Broad incumbents

• Bharat Forge (Kalyani Group): Indian defence supplier of metallurgical components, armoured vehicle platforms, and artillery systems. Comparable as a large-scale private-sector defence manufacturer with overlapping ammunition and armoured vehicle adjacencies.
• Tata Advanced Systems Limited (TASL): Tata Group's defence and aerospace arm producing aerostructures, missiles, unmanned aerial systems, and electronics. Comparable as a diversified Indian private-sector defence manufacturer with broader product range and significantly greater resources than SMPP.
• Bharat Dynamics Limited (BDL): Indian government-owned manufacturer of guided missiles, underwater weapons, and air-borne defence equipment. Most comparable to SMPP's ammunition division, though BDL operates as a much larger defence PSU with missile systems that overlap with SMPP's emerging loitering munitions business.
• Adani Defence & Aerospace: Adani Group's defence arm manufacturing small arms, counter-drone systems, and aerospace components. Competes with SMPP across multiple product lines including ammunition and unmanned systems, with significantly greater corporate backing.
• Larsen & Toubro (Defence): Indian conglomerate's defence division manufacturing naval platforms, armoured systems, artillery, and aerospace components. Competes with SMPP across ammunition (K9 Vajra artillery platforms) and platform armour with significantly larger resources.

Direct peers

• IdeaForge Technology: India's leading indigenous drone manufacturer specialising in surveillance and tactical UAVs. Direct competitor in SMPP's newly entered drone and unmanned systems division, serving overlapping military and paramilitary customers.
• Premier Explosives Limited: Indian manufacturer of solid propellants, explosives, and pyrotechnics for defence and space applications. Comparable as a private-sector Indian ammunition/explosives supplier competing in the same domestic defence procurement market as SMPP.
• Solar Industries India: India's largest private-sector manufacturer of industrial and defence explosives and ammunition. Most comparable to SMPP's combustible cartridge case and ammunition business, with broader munitions portfolio and significantly larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/SMPPDEFENSE
• Facebookfacebook.com/smppdefense
• LinkedInlinkedin.com/company/smppdefense

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SMPP