TechPrecision Corporation, along with its associated entities, specializes in the production and supply of highly precise, fabricated, and machined metal structural components ...
TechPrecision Corporation (TPCS) is a holding company that, through its subsidiaries Ranor and Stadco, specializes in the production of highly precise, fabricated, and machined metal structural components and complex systems. The company serves critical applications in naval vessels (ships and submarines), military aviation (helicopters), aerospace equipment, nuclear power facilities, and ...TechPrecision Corporation (TPCS) is a holding company that, through its subsidiaries Ranor and Stadco, specializes in the production of highly precise, fabricated, and machined metal structural components and complex systems. The company serves critical applications in naval vessels (ships and submarines), military aviation (helicopters), aerospace equipment, nuclear power facilities, and advanced medical systems. Its services include manufacturing engineering, quality control, materials procurement, production oversight, and final assembly. Founded in February 2006, TechPrecision acquired Ranor in March 2006, and later Stadco, expanding its capabilities. The company's history traces back to 1956 with the founding of Ranor, and Stadco was founded in 1941. TechPrecision is headquartered in Westminster, Massachusetts, with a 145,000 square foot facility on 65 acres, featuring 100-ton crane capacity. As of the latest data, the company has 160 employees. Financially, TPCS has a market cap of around $48.6 million, with revenue per share of $3.16, but it is currently unprofitable with negative net margins and return on equity. Key financial metrics show a debt-to-equity ratio of 1.375, current ratio of 0.976, and operating cash flow near zero. The company's leadership includes CEO Alexander Shen, who also serves as President of Ranor. TechPrecision aims to leverage its expertise in large-scale fabrication and machining to meet the demands of defense and aerospace sectors, while navigating cost challenges and improving operational efficiency. Its long-term strategy focuses on fulfilling contracts for submarines, military helicopters, and other advanced systems, positioning itself as a reliable supplier in high-stakes industries.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$31.6M
-7.0%
+12.5%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-1.7M
+39.4%
+63.5%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+15.7%
+23.6%
+12.6%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-3.4%
+46.8%
+79.4%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-5.3%
+34.9%
+67.5%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-3.3M
+31.0%
-316.1%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-10.3%
+25.8%
-292.0%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
137.5%
+2.1%
+18.5%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
0.98x
+7.6%
0.0%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Greetings, and welcome to the TechPrecision Corporation Fiscal Year 2027 First Quarter Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr. Brett Maas, Managing Director of Hayden IR. Thank you, sir. You may begin.
Brett Maas: Thank you. On the call today are Alex Shen, Chief Executive Officer; and Phil Podgorski, Chief Financial Officer. Before we begin, I'd like to remind our listeners that management's remarks may contain forward-looking statements which are subject to risks and uncertainties, and management may make additional forward-looking statements in response to your questions. Therefore, the company claims the protection of the safe harbor for forward-looking statements as contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ from those discussed today, and therefore, we refer you to a more detailed discussion of risks and uncertainties in the company's financial filings with the SEC. In addition, projections as to the company's future performance represents management's estimates as of today, August 13, 2026. TechPrecision assumes no obligation to revise or update these forward-looking statements. With that out of the way, I'd like to turn the call over to Alex Shen, Chief Executive Officer, to provide opening remarks. Alex, the floor is yours.
Alexander Shen: Brett, thank you. Hello, and good afternoon to everyone. Thank you for joining us. Fiscal 2027 first quarter consolidated revenue was $9.1 million, 23% higher when compared to $7.4 million in the fiscal 2026 first quarter. Consolidated gross profit totaled $1.4 million or 36% higher when compared to the first quarter of fiscal 2026, primarily due to higher revenue and gross margin. Fiscal 2027 first quarter Ranor revenue was $5.5 million, 27% higher when compared to the prior year first quarter results. Fiscal 2027 first quarter revenue at Stadco increased by 22% to $4.1 million as we executed on our strategy to improve both customer project mix and gross margin expansion. We remain highly focused on aggressive daily cash management, a critical piece of risk mitigation. We continue to manage and control expenses, capital expenditures, customer advances, progress billings and final invoicing at shipment. Our tactical execution focus and success enables us to continuously resecure strategic customer confidence at both subsidiaries. Our Ranor segment continues to execute and install new equipment, funded by the $24 million plus in grants from our U.S. Navy submarine programs-related customers. This sustained cadence of new equipment procurement, delivery and installation is enabling and will continue to enable a reliable, robust and resilient manufacturing capacity dedicated to submarine programs at Ranor. At both Stadco and Ranor, our air defense and submarine defense customers have expressed their strong confidence as we continue to maintain …