Quarterly & Annual Financial Results
Aequs Limited Reports Strong FY26 Performance; Achieves Record Quarterly Revenue
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Aequs Limited reported strong FY26 performance with consolidated revenue growing 33% YoY to ₹12,304 million, supported by aerospace momentum and accelerated consumer segment ramp-up. The company also strengthened order visibility, expanded aerospace product portfolio, and announced strategic investment MoUs with Karnataka and Tamil Nadu governments.
PRICE-SENSITIVE TRIGGER
Event: Announcement of Q4 FY26 and FY26 audited financial results along with operational and strategic expansion updates.
Type: Quarterly & Annual Financial Results
Impact: Positive
Immediate Effect: Strong revenue growth, expanding aerospace order visibility, and accelerating consumer segment scale-up improve long-term growth visibility and strengthen Aequs’ manufacturing expansion narrative.
Key Metrics:
- FY26 Revenue from Operations: ₹12,304 million | +33% YoY
- FY26 EBITDA: ₹1,545 million | +43% YoY
- FY26 EBITDA Margin: 13% | +100 bps YoY
- FY26 PAT: Loss of ₹1,133 million vs loss of ₹1,024 million in FY25
- FY26 PAT Margin: -9% vs -11% in FY25
- Q4 FY26 Revenue: ₹3,671 million | +47% YoY
- Q4 FY26 EBITDA: ₹321 million
- Q4 FY26 EBITDA Margin: 9%
- Q4 FY26 PAT: Loss of ₹541 million
- Q4 FY26 Consumer Segment Contribution: 17% of revenues
- FY26 Aerospace Revenue: ₹10,464 million | +27% YoY
- Consumer Business Revenue Growth FY26: +84% YoY
- Aerospace Order Book: USD 889 million
- Total Aerospace SKU Portfolio: 5,654 SKUs
- New Aerospace Parts Added in Q4: 433
- Annualized Machining & Molding Capacity: 4.70 million hours
Highlight:
- Highlight Label: Strong FY26 Revenue & EBITDA Growth
- Highlight Value: Consolidated revenue increased 33% YoY to ₹12,304 million while EBITDA grew 43% YoY, driven by aerospace strength and consumer manufacturing scale-up.
What Happened ?
Aequs Limited announced strong FY26 operational and financial performance led by sustained aerospace growth and accelerated ramp-up in the consumer manufacturing segment.
The company recorded:
- Record quarterly revenue in Q4 FY26
- Strong aerospace execution momentum
- Improved operational leverage
- Expansion in aerospace SKU portfolio
- Capacity utilization improvement
The company also announced large-scale strategic investment plans through:
- ₹1,900 crore MoU with Tamil Nadu
- ₹2,856 crore MoU with Karnataka
Management highlighted that FY26 marked a transformational year due to:
- Strong business execution
- Consumer business scale-up
- IPO completion
- Manufacturing expansion across geographies
Key Details
Operational Momentum, Aerospace Expansion & Strategic Investments:
- Aerospace order book strengthened to:
- USD 889 million
- Aerospace segment revenue grew:
- 27% YoY during FY26
- Consumer segment revenue increased:
- 84% YoY during FY26
- Consumer segment contribution rose to:
- 17% of total revenues in Q4 FY26
- Capacity utilization improved:
- Aerospace: 62%
- India aerospace operations: 70%
- Consumer segment: 23%
- Total aerospace SKU portfolio increased:
- 26% YoY to 5,654 SKUs
- New aerospace parts added during Q4:
- 433 SKUs
- Strategic investment announcements included:
- ₹1,900 crore Tamil Nadu aerospace ecosystem MoU
- ₹2,856 crore Karnataka expansion MoU
- Consumer electronics operations continued scaling toward full production and revenue recognition.
- The company operates integrated manufacturing clusters across:
- Belagavi
- Hubballi
- Koppal
- Aequs maintains global aerospace relationships with:
- Airbus
- Boeing
- Safran
- Collins Aerospace
- End-to-end manufacturing ecosystem includes:
- Forging
- Precision machining
- Surface treatment
- Assembly
Note:
- Management indicated that strategic manufacturing expansion and higher-value aerospace programs are expected to strengthen long-term margin profile and operational scale.
Risk Analysis
Summary:
- Despite strong revenue momentum, profitability remains impacted by consumer business ramp-up costs and operating leverage transition during scaling phase.
Key Risks:
- PAT remained negative despite revenue growth.
- Consumer electronics operations continue to absorb initial operating costs.
- Margin pressure may persist until higher capacity utilization is achieved.
- Aerospace sector execution depends on global OEM demand cycles.
- Large-scale expansion projects may involve execution and capital allocation risks.
Worst Case Scenario:
- Delays in consumer segment scale-up, weaker aerospace demand or slower utilization improvement could pressure margins and delay profitability normalization.
Risk Level: Medium
Company Commentary
- Executive Chairman & CEO Aravind Melligeri stated FY26 was a landmark year marked by strong execution, business expansion and IPO completion.
- Management highlighted:
- Revenue growth of 33% YoY
- EBITDA growth of 43% YoY
- Continued aerospace momentum
- Strong consumer segment scale-up
- The company stated that strategic MoUs with Karnataka and Tamil Nadu strengthen long-term manufacturing commitment in India.
- Management emphasized improving aerospace portfolio quality toward:
- Higher margins
- More complex programs
- Aequs indicated confidence in sustaining FY27 growth momentum through:
- Manufacturing capability expansion
- Geographic diversification
- Strong OEM relationships
- Capacity scale-up
Official Exchange Filing: Aequs Limited