Financial Performance Summary

Consolidated Financial Results (₹ Millions)

| Particulars | Q1FY2027 | Q1FY2026 | YoY Change | Q4FY2026 | QoQ Change |

| Revenue from Operations | 3,955 | 2,556 | 55% | 3,671 | 8% |

| EBITDA | 215 | 399 | (46)% | 321 | (33)% |

| EBITDA Margin % | 5% | 16% | >(100)bps | 9% | >(100)bps |

| PAT | (532) | 39 | >(100)% | (541) | 2% |

| PAT Margin % | (13)% | 1% | >(100)bps | (14)% | 100bps |

Key Financial Highlights

  • Revenue grew 55% YoY and 8% QoQ to ₹3,955 million, driven by continued Aerospace momentum and scale-up of Consumer programmes
  • EBITDA stood at ₹215 million with margin of 5%
  • Underlying operating performance improved sequentially with Operational EBITDA (excluding other income) increasing from ₹42 million in Q4 FY26 to ₹148 million in Q1 FY27 (3.5x improvement)
  • Aerospace EBITDA stood at ₹731 million, representing 35% YoY growth
  • PAT loss stood at ₹532 million in Q1 FY27, improving sequentially
  • Consumer contribution increased to 19% of consolidated revenue from 10% in Q1 FY26

Segment Performance

Aerospace Segment

  • Revenue grew 40% YoY and 6% QoQ to ₹3,222 million
  • Order book crossed USD 1 billion, increasing 13% sequentially from USD 889 million to USD 1,004 million
  • Capacity utilization stood at 70% (78% in India)
  • Strengthened growth pipeline through long-term agreements with two new Aerostructures Tier-1 customers
  • Secured first contract for fully assembled Airbus A320 wheels with Safran Landing Systems with 100% in-country manufacturing value addition

Consumer Segment

  • Revenue nearly tripled YoY, increasing 190% YoY and 16% QoQ to ₹734 million
  • EBITDA loss narrowed by ₹112 million (24%) sequentially from ₹473 million in Q4 FY26 to ₹361 million in Q1 FY27
  • Capacity utilization stood at 22%

Capital Expenditure and Investments

  • Incurred capital expenditure of ₹830 million during the quarter to support future growth
  • Annual machining and molding capacity of 4.78 million hours (annualized based on Q1 FY27)

Management Commentary

Mr. Aravind Melligeri, Executive Chairman and Chief Executive Officer, stated:

  • Q1 marks strong start to FY27, the year committed to translating expanded capacity into financial returns
  • Customer confidence reflected in order book crossing USD 1 billion, up 13% sequentially
  • Operating leverage now visible with operational EBITDA improving 3.5x sequentially
  • Reaffirmed milestones: Consumer EBITDA breakeven by Q4 FY27 and consolidated PAT breakeven by H1 FY28
  • Reinforced Vision 2031 roadmap of 4–6x revenue growth, 18–22% EBITDA margin and 20% steady-state RoCE

Business Overview

Aequs Limited is an engineering-led, vertically integrated precision manufacturer operating within a single SEZ in India with operations across aerospace and consumer segments. The company operates ecosystem with co-located capabilities spanning forging, precision machining, surface treatment, and assembly. In aerospace, Aequs has portfolio of 5,740 qualified parts across engine systems, structures, actuation systems, landing systems, and assemblies. The company is Tier-1 supplier to leading global aerospace OEMs including Airbus, Boeing, Safran, and Collins Aerospace. Operates manufacturing clusters in Belagavi, Hubballi, and Koppal (Karnataka) with international operations in United States and France.