Maverick Simulation Solutions Ltd
Indigenous maker of driving, gunnery and flight simulators for the armed forces – a small, profitable defence-indigenisation play with a very small share count.
Market cap
₹238.8 Cr
0.10 Cr shares
P/E ratio
25.68
Sector average 50
Book value
₹375.00
P/B 6.37
1-year return
+0.49%
52w ₹1,800 – ₹3,000
Currently 49% of the way through its 52-week range.
Indicative price history
1Y change
+1.76% ₹2,347 → ₹2,388
52-week band in this window: ₹2,094.22 – ₹2,388.00. Weekly indicative marks, not exchange-traded prices.
Key highlights
- Indigenous driving, gunnery and flight simulators for the armed forces.
- Revenue roughly ₹48 Cr in FY25 with about 20% net margin (approximate).
- Tiny share count; price rose sharply in the 2024–25 defence rally.
About Maverick Simulation
Maverick Simulation Solutions Ltd designs and builds training simulators for the Indian armed forces and paramilitary: driving simulators for tanks, armoured vehicles and trucks, gunnery and weapon-firing simulators, flight and mission trainers, and virtual-reality maintenance and tactical training systems. It supplies through Ministry of Defence tenders and as a sub-vendor to larger defence integrators, and maintains installed simulators under AMC contracts.
The company benefits from the government's positive-indigenisation lists, which restrict simulator imports and steer procurement towards Indian vendors, and from rising training budgets. Revenue is lumpy and tender-driven, in the tens of crores, with healthy margins on proprietary software and long-tail maintenance income. The share count is tiny, so the per-share price is high; the stock moved sharply during the 2024–25 defence rally.
Financial figures, the incorporation date and board names here are approximate and were not re-verified against registry filings at the time of writing.
This profile was compiled from public information already known to the research desk; live registry and dealer pages could not be re-checked at the time of writing, so identifiers that could not be confirmed are left blank and dates of appointment are indicative. Line items are reconstructed around reported totals; treat them as approximate.
Where the revenue comes from
- Driving & gunnery simulators50%
Tank, armoured-vehicle and weapon simulators
- Flight & mission trainers25%
Fixed- and rotary-wing training devices
- AMC & upgrades20%
Maintenance and software upgrades on the installed base
- VR / other training systems5%
Virtual-reality maintenance trainers
Products & services
Driving simulators
Tank, armoured-vehicle and heavy-truck driver trainers.
Gunnery simulators
Weapon-firing and crew gunnery trainers.
Flight trainers
Fixed- and rotary-wing procedure and mission trainers.
What works
- • Protected market: simulators feature on the MoD's positive-indigenisation lists.
- • High-margin proprietary software with recurring AMC revenue on the installed base.
- • Small, profitable and debt-light balance sheet.
What to watch
- • Tender-driven revenue is lumpy and depends on a handful of MoD orders.
- • Zen Technologies and larger integrators compete aggressively for the same programmes.
- • Tiny float and high per-share price; the quote can swing on single trades and figures are approximate.