PEG

Petards Group PLC

Industrial Goods and Services First-pass screen £6.37m

420/1000 Overall fit

AI beneficiary 35% 25

Operating leverage 25% 65

Valuation 25% 30

Downside protection 15% 62

First-pass take

Strong financial turnaround: gross margins 49.7% (up 400bps), adjusted EBITDA up 144%, record £9.2m order book. However, zero AI positioning despite tech focus; still operating losses (£435k). Defensive government/infrastructure customers offset cyclical procurement risk, but micro-cap scale limits opportunity.

Flags

no-ai-exposureloss-makingnet-debtmicro-capcyclicaldefensivestrong-order-bookno-valuation-data