Agnikul Cosmos Private Limited
Agnikul Cosmos Private Limited
INE1E0I01016
Incorporation Date: 01-Dec-2017
Listing Status: DRHP Not Filed
About Agnikul Cosmos Private Limited
Overview of Agnikul Cosmos Private Limited
Agnikul Cosmos Private Limited
Agnikul Cosmos Private Limited is an Indian space-tech company focused on designing and manufacturing orbital-class launch vehicles and rocket propulsion systems. Founded in Chennai, the company was established to address the growing demand for flexible and dedicated launch services for small satellites. Its technology platform combines indigenous rocket engines, additive manufacturing, modular launch-vehicle architecture and mobile launch infrastructure, with the objective of providing customised and cost-effective access to low Earth orbit.
🏢 Introduction & Infrastructure
Established: 2017.
Headquarters: Chennai, Tamil Nadu, with operations at IIT Madras Research Park.
Core Focus: Orbital launch vehicles, rocket engines, propulsion systems and launch infrastructure.
Rocket Factory-01: Dedicated facility for manufacturing 3D-printed rocket engines and launch-vehicle components.
Agnikul Launchpad-01: India's first private launchpad, established at SDSC-SHAR, Sriharikota, in collaboration with the Indian space ecosystem.
Large-Format Additive Manufacturing: Facility housing India's largest 3D printer and an indigenously developed depowdering system.
Certifications: Achieved AS9100D aerospace-quality certification.
International Presence: Maintains an international presence including an office in Denver, USA.
⚙️ Business Model & Operational Verticals
Agnikul follows a space-as-a-service and launch-technology model, developing launch vehicles and propulsion systems while offering customers greater flexibility in payload configuration, launch timing and orbital requirements.
1. Orbital Launch Services — Core Vertical
Dedicated launch services for small satellites.
Customisable launch-vehicle configurations based on payload requirements.
Designed primarily for deployment into Low Earth Orbit (LEO).
Flexible mission planning with the ability to configure the vehicle around the customer's satellite.
2. Rocket Propulsion Systems
Indigenous liquid-engine technology.
Development and manufacturing of semi-cryogenic rocket engines.
Modular engine architecture enabling different engine-clustering configurations.
In-house development of propulsion hardware and associated systems.
3. Launch Vehicle Development
Design and manufacturing of the Agnibaan orbital launch vehicle.
Development of multiple configurations depending on payload and mission requirements.
Reusable-launch-vehicle technology development for future missions.
4. Sub-Orbital Launch Services
Agnibaan SOrTeD provides sub-orbital launch capability for technology demonstrations, experiments and near-space payloads.
Designed to carry payloads of up to approximately 30 kg.
Provides a platform for customers seeking sub-orbital testing and validation.
5. Launch Infrastructure
Development and operation of dedicated launch infrastructure.
Mobile launchpad architecture.
Transportable mission-control infrastructure.
Ability to adapt launch infrastructure to mission and geographical requirements.
👥 Management Structure
Agnikul was founded by Srinath Ravichandran and Moin SPM, bringing together expertise across finance, engineering, aerospace technology and entrepreneurship.
Srinath Ravichandran — Co-founder & Chief Executive Officer
Moin SPM — Co-founder & Chief Technology Officer
Supported by multidisciplinary teams across aerospace engineering, propulsion, avionics, software, manufacturing, mission operations and business development.
The company has also strengthened its institutional and technical ecosystem through partnerships with IIT Madras, ISRO and other space-sector organisations.
📦 Key Product & Program Portfolio
| Product / Program | Key Application |
|---|---|
| Agnibaan | Customisable orbital launch vehicle for small satellites |
| Agnibaan SOrTeD | Sub-orbital launch vehicle for technology demonstrations |
| Agnilet | Single-piece 3D-printed semi-cryogenic rocket engine |
| Agnite | Larger semi-cryogenic engine platform for Agnibaan |
| Dhanush | Mobile launchpad and launch infrastructure concept |
| Agnikul Launchpad-01 | Dedicated private launch infrastructure at Sriharikota |
| Rocket Factory-01 | Additive manufacturing and rocket-engine production facility |
| Mission Control Systems | Transportable launch and mission-control infrastructure |
🚀 Technology & Engineering Capabilities
Single-piece 3D-printed rocket engines, reducing component count and manufacturing complexity.
In-house design and manufacturing of rocket engines.
Semi-cryogenic propulsion using Liquid Oxygen and aviation turbine fuel.
Electric-pump-fed propulsion architecture.
Modular and clusterable engine configuration.
In-house avionics and flight-control systems.
Large-format metal additive manufacturing.
Carbon-composite structures and lightweight aerospace components.
Mobile launchpad and transportable mission-control systems.
Development of reusable launch-vehicle technologies.
🛰️ Mission & Launch Capabilities
Agnikul successfully conducted Mission-01 of Agnibaan SOrTeD on 30 May 2024 from Agnikul Launchpad-01 at SDSC-SHAR, demonstrating its indigenous propulsion, launch infrastructure and mission-execution capabilities. The company is now progressing toward orbital launch operations, with its current launch schedule targeting missions carrying payloads of up to 100 kg and 300 kg to LEO during 2027.
🔬 R&D & Advanced Manufacturing
Agnikul's competitive differentiation is strongly linked to its additive-manufacturing-led propulsion architecture.
Key capabilities include:
3D-printed combustion chambers and engine components.
Large-format additive metal manufacturing.
Indigenous depowdering technology.
Rapid prototyping and iterative engine development.
Semi-cryogenic engine testing.
Integrated propulsion and launch-vehicle development.
In-house development of avionics and mission systems.
The company has progressively expanded from printing individual rocket-engine components to developing larger, integrated single-piece engine architectures and scalable propulsion systems.
🌐 Customer & Space Ecosystem
Agnikul's platform is designed primarily for:
Small satellite companies
Satellite constellation operators
Space-tech startups
Universities and research institutions
Technology-demonstration missions
Earth-observation companies
Scientific and experimental payload developers
The company's approach is built around providing customers with dedicated and configurable launch opportunities, rather than relying solely on rideshare missions.
🌱 Recent Technology & Infrastructure Development
Development of a reusable Agnibaan architecture and reusable-booster recovery strategy.
Development of a convertible upper-stage concept.
Expansion into large-format additive manufacturing.
Establishment of additional specialised facilities in Chennai for space-technology development and testing.
Development of an approximately ₹400 crore Thoothukudi facility to expand manufacturing and space-sector capabilities.
Collaboration with ICEYE for potential SAR-system development, launch and operation from India.
Continued testing of Agnite semi-cryogenic engines and multi-engine configurations.
⭐ Key Business Highlights
Indian private space-tech company focused on orbital launch vehicles and rocket propulsion.
Developed Agnibaan, a configurable orbital launch vehicle designed around small-satellite requirements.
Developed Agnilet, a single-piece 3D-printed semi-cryogenic rocket engine.
Established Agnikul Launchpad-01, India's first private launchpad at SDSC-SHAR.
Successfully completed Mission-01 of Agnibaan SOrTeD in May 2024.
Strong in-house capabilities across rocket propulsion, additive manufacturing, avionics, software and launch infrastructure.
Building a scalable technology platform for dedicated small-satellite launches.
Expanding into reusable launch vehicles, larger propulsion systems and advanced space infrastructure.
Positioned within India's growing private space and commercial-launch ecosystem, with a focus on making satellite access more flexible and mission-specific.
Insights of Agnikul Cosmos Private Limited
Agnikul Cosmos Private Limited
Financial Highlights
| Particulars | FY25 | FY24 | YoY Change |
|---|---|---|---|
| Revenue from Operations | — | — | — |
| Total Operating Cost | ₹46.45 Cr | ₹45.66 Cr | +1.7% |
| EBITDA | -₹46.45 Cr | -₹45.66 Cr | Loss broadly stable |
| Other Income | ₹7.80 Cr | ₹9.32 Cr | -16.3% |
| Depreciation | ₹6.25 Cr | ₹6.40 Cr | -2.3% |
| Finance Costs | ₹0.19 Cr | ₹0.20 Cr | -5.0% |
| PBT | -₹45.10 Cr | -₹42.94 Cr | Loss increased |
| Exceptional Items | -₹9.67 Cr | — | — |
| PAT | -₹54.77 Cr | -₹42.94 Cr | Loss increased |
Key Financial Insights
Agnikul remains in a pre-commercialisation investment phase, with no meaningful operating revenue reflected in the supplied FY25 financials.
Operating expenditure increased marginally from ₹45.66 Cr to ₹46.45 Cr, reflecting continued investment in technology, engineering and launch-vehicle development.
EBITDA remained negative at -₹46.45 Cr, broadly in line with FY24.
PAT loss widened to ₹54.77 Cr from ₹42.94 Cr, mainly due to the ₹9.67 Cr exceptional item.
Other income declined from ₹9.32 Cr to ₹7.80 Cr, reducing the offset against operating expenditure.
The current financial profile is therefore more representative of a deep-tech development company preparing for commercialisation than a mature operating business.
Key Company Developments
Agnikul is developing Agnibaan, a modular small-lift launch vehicle designed to provide dedicated launch services for small satellites.
The company's key technological differentiation is its 3D-printed semi-cryogenic rocket-engine technology, which is designed to simplify manufacturing and improve production flexibility.
Agnikul successfully demonstrated its launch capability through the Agnibaan SOrTeD suborbital mission in May 2024.
The company is now focused on progressing from technology demonstration toward commercial orbital launch capability and higher launch frequency.
In March 2026, the Tamil Nadu government, through TIDCO, invested ₹25 Cr in Agnikul.
In May 2026, Agnikul was reportedly exploring a ₹4,200 Cr valuation while discussing a potential ₹420–630 Cr funding round. The reported funding discussions were still ongoing rather than a completed transaction.
The company has also outlined significant expansion plans to increase manufacturing and launch capabilities as it moves toward commercial deployment.
Industry Insights & Trends
India's private space sector is rapidly moving from technology development toward commercialisation.
The sector has attracted substantial private capital, with Indian spacetech companies collectively raising around ₹7,000+ Cr in external funding by mid-2026. Launch vehicles, satellite systems, propulsion, Earth observation and space situational awareness are among the major investment areas.
The biggest opportunity for launch-vehicle companies is the growing demand for small-satellite launches. Satellite constellations, Earth observation, communications and defence applications are increasing the need for reliable and flexible access to low-Earth orbit.
For Agnikul, the critical transition is:
Technology Development → Successful Launches → Commercial Contracts → Repeat Launches → Revenue Scale
The company's future value creation will therefore depend more on launch reliability, production capacity, customer commitments and commercialisation than on near-term profitability.
Peer Comparison – Latest Private Valuation
| Company | Primary Business | Latest Valuation | Approx. Valuation ₹ Cr | Total Funding Raised | Stage |
|---|---|---|---|---|---|
| Agnikul Cosmos | Small Satellite Launch Vehicles | ~$500 Mn | ~₹4,200 Cr | ~₹640 Cr | Pre-Commercial / Scale-up |
| Skyroot Aerospace | Small Satellite Launch Vehicles | ~$1.1 Bn | ~₹9,300 Cr | ~₹1,250 Cr | Commercial Launch Stage |
| EtherealX | Reusable Launch Vehicles | ~$80.5 Mn | ~₹680 Cr | ~₹175 Cr | Development Stage |
| Bellatrix Aerospace | Space Propulsion & In-Space Mobility | — | — | ~₹285 Cr | Development / Commercialisation |
| Digantara | Space Situational Awareness | — | — | ~₹560 Cr | Commercialisation |
Approximate ₹ conversion uses ₹84/USD for consistency across the private-company comparison. Valuation figures represent the latest publicly reported/confirmed valuation where available; a dash is used where a reliable valuation is not publicly established.
Direct Peer – Skyroot Aerospace
Skyroot Aerospace is Agnikul's closest direct peer because both companies are developing Indian launch vehicles aimed at the small-satellite market.
| Parameter | Agnikul Cosmos | Skyroot Aerospace |
|---|---|---|
| Business | Small-lift launch vehicles | Small-lift launch vehicles |
| Key Platform | Agnibaan | Vikram Series |
| Latest Reported Valuation | ~₹4,200 Cr | ~₹9,300 Cr |
| Funding Raised | ~₹640 Cr | ~₹1,250 Cr |
| Commercial Stage | Pre-commercial / scale-up | Commercial launch stage |
| Core Differentiation | 3D-printed semi-cryogenic propulsion | Integrated solid, liquid and cryogenic propulsion |
Skyroot's May 2026 funding round valued the company at around ₹9,300 Cr, making it India's first spacetech unicorn. By July 2026, Skyroot had raised approximately ₹1,250 Cr in total funding.
Agnikul's reported valuation of around ₹4,200 Cr therefore remains below Skyroot's latest confirmed valuation, but both companies are operating in the same emerging private orbital-launch ecosystem.
Competitive Positioning
Agnikul's competitive positioning is centred around launch flexibility, propulsion technology and manufacturing efficiency.
Key Strengths
3D-printed rocket-engine technology can potentially reduce manufacturing complexity and production time.
Semi-cryogenic propulsion provides a differentiated technology platform for small-lift launch applications.
Modular launch-vehicle architecture can support different payload requirements.
Focus on dedicated small-satellite launches, addressing a growing commercial market.
Early positioning within India's rapidly developing private orbital-launch ecosystem.
Increasing access to institutional and private funding can support the transition from development to commercial operations.
Key Risks / Watchpoints
The company is still loss-making and pre-commercial, making future funding requirements important.
Successful technology demonstration needs to translate into repeatable orbital launches.
Launch reliability will be critical for building customer confidence.
Scaling manufacturing while maintaining quality and launch cadence will be a major execution challenge.
The company will need to convert planned/soft customer commitments into actual commercial contracts and recurring revenue.
Competition from Skyroot and other global small-launch providers is likely to increase as the market develops.
Key Takeaways
Agnikul is a technology-led, pre-commercial space company, with FY25 operating expenditure of ₹46.45 Cr and PAT loss of ₹54.77 Cr.
Skyroot Aerospace is the closest direct peer, given the similarity in launch-vehicle focus and target small-satellite market.
Agnikul's latest reported valuation is approximately ₹4,200 Cr, compared with around ₹9,300 Cr for Skyroot Aerospace.
The company's key differentiation is its 3D-printed semi-cryogenic propulsion and modular launch-vehicle architecture.
India's private spacetech ecosystem is attracting increasing institutional capital, creating a favourable funding environment for companies with demonstrated technology and commercial potential.
The key investment trigger is not current profitability but the company's ability to move from technology development to successful orbital launches and recurring commercial revenue.
The most important milestones to monitor are launch success, customer contracts, production scale-up, launch frequency, funding visibility and revenue conversion.
Financial Charts of Agnikul Cosmos Private Limited
Balance Sheet of Agnikul Cosmos Private Limited
Profit and Loss of Agnikul Cosmos Private Limited
Ancillary of Agnikul Cosmos Private Limited
Ratio Analysis
Peers
Industry Benchmarking
Segment Revenue
Subsidaries
Security Allotment
Corporate Governance
Team Management Details
FAQs of Agnikul Cosmos Private Limited
-
How to buy Agnikul Cosmos Private Limited?
Below are three ways through which you can purchase Agnikul Cosmos Private Limited:
- We at Altius Investech have many actively traded scripts and are market makers of unlisted shares. To check out all the unlisted shares traded. (Click on link). To submit a request to buy Agnikul Cosmos Private Limited, please click on the trade button at the top of this page
- Additionally, you can download our app from your play store or app store, register on our application, and engage in active trading there.
Download the Altius App here https://onelink.to/hf4m72 - You can also reach out to us at : +91 8240614850 / +91 8240861716
-
How to sell Agnikul Cosmos Private Limited?
Below are three ways through which you can sell Agnikul Cosmos Private Limited:
- We at Altius Investech have many actively traded scripts and are market makers of unlisted shares. To check out all the unlisted shares traded. (Click on link). To submit a request to sell Agnikul Cosmos Private Limited, please click on the trade button at the top of this page
- Additionally, you can download our app from your play store or app store, register on our application, and engage in active trading there.
Download the Altius App here https://onelink.to/hf4m72 - You can also reach out to us at : +91 8240614850 / +91 8240861716
-
What is the price of Agnikul Cosmos Private Limited?
We provide a two way quote on all the shares we deal in. Your buy price for Agnikul Cosmos Private Limited is ₹N/A and your sell price for Agnikul Cosmos Private Limited is ₹N/A. The price is based on our estimates and market conditions.
-
What is the lock-in period of Agnikul Cosmos Private Limited?
The lock-in period for Agnikul Cosmos Private Limited varies depending on the category of investors:
- For retail Investors, HNIs, or Body Corporates, the lock-in period is 6 months from the date of the listing of Agnikul Cosmos Private Limited
- For Venture Capital Funds or Foreign Venture Capital Investors, there is a lock-in period of 6 months from the date of acquisition of Agnikul Cosmos Private Limited
- For AIF-II (Alternative Investment Funds - Category II), there is no lock-in period
August 2021 saw the introduction of this regulation by SEBI. The purpose of the regulation change, which lowered the lock-in period from a year to six months, was to incentivize additional investments in firms getting ready for initial public offerings, or IPOs. Since its introduction, a number of Portfolio Management Services (PMS) have advised their clients to purchase Pre-IPO shares in order to take advantage of the advantages associated with early-stage investments. This reduction in the lock-in period is considered as a significant step forward.
-
How is the Agnikul Cosmos Private Limited price calculated?
Fundamental & Comparative valuation models and the forces of demand and supply in the market for unlisted shares dictate the price. These prices are based on our estimates and transaction history of Agnikul Cosmos Private Limited. The price is also determined from the most recent funding round for Agnikul Cosmos Private Limited. This provides us with a benchmark valuation, offering a clear indication of the company's current market value as perceived by investors and industry experts.
-
What are the lot sizes of Agnikul Cosmos Private Limited?
We can generally arrange lot sizes starting with an investment of INR 20,000. To confirm the lot sizes of Agnikul Cosmos Private Limited with us kindly click here.
-
What are the financials of Agnikul Cosmos Private Limited?
The financials of Agnikul Cosmos Private Limited which includes the P/L of Agnikul Cosmos Private Limited and the Balance Sheet of Agnikul Cosmos Private Limited is in the financials section (Click on link).
-
Where can I find the annual report of Agnikul Cosmos Private Limited?
The annual report of Agnikul Cosmos Private Limited is available in the annual report section (Click on link).
-
Is buying Agnikul Cosmos Private Limited legal in India?
Yes, buying and selling unlisted shares in India is indeed 100% legal. This activity is regulated and governed under the guidelines provided by the Securities and Exchange Board of India (SEBI). Investors and traders must adhere to these regulations and guidelines to ensure compliance with legal and financial standards. It's important for participants in the unlisted share market to be aware of and understand these regulations to engage in transactions legally and securely.
-
Short-term Capital Gain taxes to be paid on Agnikul Cosmos Private Limited?
When you sell unlisted shares within a period of two years from the date of acquisition, any profit earned from the sale is classified as Short-term Capital Gain (STCG). This gain is then added to your total income for that financial year. The tax on this short-term capital gain is calculated based on your applicable individual income tax slab rates. Therefore, the rate at which you will pay tax on the STCG from unlisted shares depends on your total income, including this gain, and the tax slab it falls under as per the prevailing income tax laws in India. It's important for investors to consider these tax implications when engaging in transactions involving unlisted shares.
-
Long-term Capital Gain taxes to be paid on Agnikul Cosmos Private Limited and how are They Taxed?
Long-term Capital Gains (LTCG) on unlisted shares in India refer to the profits earned from the sale of unlisted shares that have been held for more than two years. The key aspects of LTCG on unlisted shares include:
- Tax Rate: LTCG on unlisted shares is taxed at a rate of 20%.
- Indexation Benefit: This is a significant advantage for investors. Indexation allows for adjusting the purchase price of the shares for inflation, which can reduce the taxable gain.
- Importance for Investors: Understanding LTCG is crucial, especially for High Net-worth Individuals (HNIs) and retail investors, as it impacts their investment strategy and tax planning. Knowing these details helps in making informed investment decisions.
- Calculation: LTCG is calculated by subtracting the indexed cost of acquisition (the purchase price adjusted for inflation) from the sale price of the shares. The profit thus calculated is subject to a 20% tax.
- Applicability: LTCG tax is applicable to profits from the sale of unlisted shares held for more than two years.
- Relevance: This tax is particularly relevant to investors in the unlisted share market, including those considering selling their holdings after a period of more than two years.
-
Applicability of Taxes on Agnikul Cosmos Private Limited once it is listed?
When shares initially bought in the unlisted market become listed, the taxation rules change significantly if these shares are sold through a stock exchange. Here's what investors need to know:
Transition to Listed Market Tax Rates: Once unlisted shares are listed on the stock exchange and subsequently sold, the tax rates applicable to listed securities come into effect. This shift means that the favourable tax treatments for listed shares, as per the prevailing tax laws, will apply.
Taxation Based on Holding Period: The crucial factor in determining the type of capital gains tax (Long-term or Short-term) is the holding period of the shares. Importantly, this period is calculated from the original purchase date when the shares were unlisted.
Long-term vs. Short-term Capital Gains: If the shares are sold after being held for more than one year from the date of purchase (including the period when they were unlisted), they are subject to Long-term Capital Gains (LTCG) tax.
Conversely, if sold within one-year, Short-term Capital Gains (STCG) tax rates apply.
Significance for Investors: This information is vital for investors in the unlisted market, as it impacts their tax planning and decision-making process. Understanding these nuances ensures that investors can strategically plan the sale of their shares post-listing to optimize tax implications.
Advice for Investors: It's advisable for investors to keep a record of their purchase dates and monitor the listing dates closely. Additionally, staying updated with the latest tax regulations or consulting with a financial advisor is recommended for accurate tax calculations and compliance. -
How does Altius Investech source Agnikul Cosmos Private Limited?
At Altius Investech, our approach to sourcing Agnikul Cosmos Private Limited unlisted shares involves a strategic and direct method. Primarily, we acquire these shares from the below key groups:
Employees of the Company: Employee stock option plans (ESOPs) or other compensation packages frequently include shares for firm employees. For a various reasons, such as including portfolio diversification or financial considerations, some of these employees may eventually choose to sell their shares. We engage with these employees, providing them a platform to sell their shares.
Initial Investors: These are the angel or early-stage investors who provided capital to the business in its early stages. These original investors may look to sell all or part of their ownership position in the company as it develops and flourishes. This might be done for various reasons such as in order to maximise their investment, reallocate resources, or make other calculated financial decisions.
Funding rounds and VC funds: Altius Investech sources the shares from private placement rounds in which private companies seek to obtain capital from the market. Through our platform, venture capital funds can liquidate their shares and we receive the inventory from them when they decide to sell a portion of their ownership through block trades.
By establishing connections with these groups, Altius Investech guarantees our clients a steady and dependable supply of Agnikul Cosmos Private Limitedunlisted shares. This process not only makes it easier for employees and initial investors in liquidating their assets, but it also gives our clients access to shares that aren't often found on the open market. Our platform effectively facilitates a win-win situation for both buyers and sellers. -
How to trust Altius Investech before buying Agnikul Cosmos Private Limited from its platform?
Altius Investech stands at being India's fastest growing and leading marketplace for buying and selling unlisted shares. We believe in enabling access to alternative sources of investments at lower entry barriers to private equity investments.
With more than 25 years of experience, Altius Investech has carved a niche in the financial market by serving more than 8000 clients. The incredible journey is further highlighted by the vast number of transactions that Altius Investech has facilitated transactions that have already exceeded 300 crores.
For investors Altius Investech curates investment opportunities in companies at reasonable valuations which are on the verge of an IPO leading to massive value unlocking. Investments are backed by thorough research and sound investment thesis, with a time bound exit plan.
For ESOP Shareholder and existing Investors, we assist them to liquidate their shares even if they are not publicly traded by creating a platform where we find the right buyers and sellers for the best prices.
Altius Investech have been featured in top media news outlets like Economic Times, Financial Express, Money control. Check out about us on these - leading publications (Click on link) Our journey over these years has not just been about numbers; it's been about building trust and reliability.
We at Altius Investech are dedicated to upholding the greatest levels of ethics and transparency, making sure that your investment experience is not only profitable but also safe and reliable.
Press of Agnikul Cosmos Private Limited
Featured Blogs of Agnikul Cosmos Private Limited
Annual Report of Agnikul Cosmos Private Limited
Company Information of Agnikul Cosmos Private Limited
Featured Companies


