Sigma Advanced Systems Completes $15-Million Extrovis Divestment

Hyderabad: Sigma Advanced Systems said it completed divestment of its entire 36.52 per cent equity stake in Extrovis AG, a Switzerland-based pharmaceutical company.

The transaction generated $15 million (about ₹137.61 crore), providing the company with additional financial flexibility as it accelerates expansion of its aerospace and defence business.

The divestment forms part of Sigma’s portfolio rationalisation strategy, and the company has transformed into a pureplay aerospace and defence platform.

By exiting a non-core pharmaceutical investment, Sigma is freeing up capital that can now be deployed toward strengthening manufacturing capabilities, pursuing strategic acquisitions, and expanding its presence across defence and aerospace supply chains.

"The divestment of our stake in Extrovis is a step in sharpening Sigma’s focus as a global aerospace and defence manufacturing company. This transaction strengthens our balance sheet and gives us greater flexibility to invest in new capabilities, pursue strategic opportunities,” said Sunil Kalidindi, CEO, Sigma Advanced Systems.

Recently, the company acquired Delhi-based AS Strategic, a defence and space-focused firm with roots in Europe.

Last month, the company secured new orders worth ₹100 crore from ministry of defence and associated defence PSUs, a release said.