Two ratios in this release matter more than the headline. First, the DPSUs' Rs 1.29 lakh crore out of Rs 1.8 lakh crore is about 72% of India's defence production — so despite years of opening the sector to private industry, the public sector still supplies roughly three-quarters of it. Second, profit grew slightly faster than production (15.6% against 15.4%), which means margins held rather than being bought with volume. The standout figure is the 151.2% jump in DPSU defence exports, coming off a small base but pointing at the direction the government has set: India targets Rs 3 lakh crore of annual defence production and Rs 50,000 crore of defence exports by 2029. Behind those targets sits a defence industrial base of 16 DPSUs, over 430 licensed companies and roughly 16,000 MSMEs.