RRP Group, led by visionary entrepreneur Rajendra Chodankar, has undergone a major transformation in 2024–2025. Once a niche defense technology firm, it is now evolving into a key force in India’s drone and semiconductor manufacturing ecosystem. This journey reflects not just business growth but also deep alignment with the government’s Atmanirbhar Bharat (self-reliant India) mission.
From Vision to Execution: A Quick Timeline
- 2018 – RRP S4E Innovation founded
- Feb 2024 – Launch of RRP Electronics for semiconductor manufacturing
- Apr 2024 – 74% stake acquired in RRP Semiconductor
- May 2024 – Acquisition of RRP Drones Innovation
- May 2025 – Euro Asia Exports renamed RRP Defense
- July 2025 – JV signed with CYGR (France-USA) for advanced drones
RRP S4E Innovation: The Core Engine
Established in 2018, RRP S4E Innovation laid the foundation for the group’s defense technology efforts. The company specializes in electro-optics—thermal imaging systems, night vision devices, and precision-engineered components. Its nano-machining facility is one of India’s most advanced, with 1-micron precision and 3-nanometer optical finish capabilities.
In FY25, RRP S4E reported a turnover of ₹61.75 crore and a PAT of ₹19 crore, with a healthy order book of ₹220 crore (firm + executable). With demand accelerating, the company aims for ₹100 crore in revenue and ₹25 crore PAT in FY26.
Scaling Through Drones: RRP Drones Innovation
In May 2024, RRP S4E acquired RRP Drones Innovation for ₹175 crore via a share swap. This company brings to the table India’s first “drone-in-a-box” system, built using licensed technology from Microavia. These drones are designed for autonomous patrolling and rapid emergency deployment.
FY25 performance was strong: ₹14.09 crore in revenue, ₹6.72 crore profit, and a ₹30 crore order book. The company manufactures everything in-house—from autopilots to payload systems—creating a vertically integrated drone business.
Semiconductor Expansion: Two-Pronged Strategy
In 2024, RRP made bold moves into semiconductors—one of India’s most strategic and underdeveloped sectors.
- RRP Electronics Limited (est. Feb 2024): Plans to invest ₹5,000 crore in Maharashtra’s first OSAT facility (Outsourced Semiconductor Assembly and Testing). It has already signed MOUs with Deca Technologies (USA) and HorngCom (Taiwan) for advanced packaging and tech.
- RRP Semiconductor Limited: Acquired through a 74% stake in 2024, the firm—formerly known as G.D. Trading—has shown 180% CAGR in profits over 5 years and has become a stock market multibagger. The stock hit a 52-week high of ₹2,466 with ROE of 196%.
Defense Consolidation: RRP Defense Limited
In May 2025, RRP acquired over 70% of Euro Asia Exports, later renaming it to RRP Defense Limited. This move consolidated RRP’s defense capabilities under one umbrella. Earlier a trading firm, RRP Defense is now focused on manufacturing drones and defense systems.
Its stock has been a star performer, rising 1,147% in 12 months, with 65 upper circuits and a 93-day winning streak. A ₹1 lakh investment a year ago would be worth ₹12.47 lakh today.
Going Global: JV with CYGR (France-USA)
In July 2025, RRP Defense signed a strategic joint venture with CYGR, a Franco-American drone technology firm. The JV, with RRP holding 90%, will set up a manufacturing and R&D facility in Navi Mumbai, focusing on next-gen defense drones. The project aligns perfectly with Make in India and strengthens India’s position in global drone tech.
Why the Market is Watching RRP Closely
India’s drone market is booming—expected to grow from $654 million in 2024 to $1.43 billion by 2029. Defense spending is also rising, driven by recent operations like Operation Sindoor, highlighting the need for indigenous drone solutions.
RRP is strategically positioned to benefit from:
- Government PLI incentives
- Indigenous manufacturing policies
- A sharp rise in defense tech demand
- High investor confidence and stock returns
What’s Ahead: Integration and Synergy
RRP’s acquisitions and expansions may lead to reverse mergers between group entities like RRP S4E, RRP Defense, and RRP Semiconductor. This would streamline operations and create a unified defense-tech giant.
With strengths across optics, semiconductors, drones, and manufacturing, RRP is building full-stack capability in defense tech—a rare achievement in India’s private sector.
Investor Outlook
RRP’s journey is a case study in strategic execution and vision. Strong financials, futuristic sectors, and government-aligned growth make it a compelling story for long-term investors.
While regulatory and tech development challenges remain, RRP has shown it’s ready to meet them with innovation, capital, and partnerships.
