Sigma Advanced Systems Completes $15-Million Extrovis Divestment

Hyderabad: Sigma Advanced Systems said it has completed the disposal of its entire 36.52 percent equity stake in Extrovis AG, a Switzerland-based pharmaceutical company.

The transaction generated proceeds of $15 million (approximately Rs 137.61 crore), providing the company with additional financial flexibility while accelerating the expansion of its aerospace and defense businesses.

This divestment forms part of Sigma’s portfolio rationalization strategy and the company has transformed into a pure aerospace and defense platform.

By exiting a non-core pharmaceutical investment, Sigma frees up capital that can now be used to strengthen manufacturing capabilities, make strategic acquisitions, and expand its presence in defense and aerospace supply chains.

“The divestiture of our shares in Extrovis is a step in sharpening Sigma’s focus as a global aerospace and defense manufacturing company. This transaction strengthens our balance sheet and provides us with greater flexibility to invest in new capabilities and pursue strategic opportunities,” said Sunil Kalidindi, CEO of Sigma Advanced Systems.

The company recently acquired Delhi-based AS Strategic, a defense and space-focused firm with roots in Europe.

The company received fresh orders worth Rs 100 crore from the ministry of defense and relevant defense PSUs last month, a statement said.