Date: October 26, 2026 (Board Meeting), November 11, 2026 (Submission Date)

Board Meeting Outcomes

The Board of Directors of Aequs Limited at their meeting held on October 26, 2026 (14:50 HRS IST to 15:35 HRS IST) approved the following:

  • Unaudited financial results (both standalone and consolidated) of the Company for the quarter and half year ended September 30, 2026
  • Limited Review Report issued by the Statutory Auditors of the Company

Financial Results (Standalone)

Quarter Ended September 30, 2026 (₹ millions)

  • Revenue from operations: 355.46 (vs 278.23 in Q2 FY26)
  • Other income: 103.13
  • Total income: 458.59
  • Total expenses: 399.04
  • Profit before tax: 14.79 (vs 19.50 in Q2 FY26)
  • Total tax expense: (3.12) [Current tax: 0.11, Deferred tax: (3.23)]
  • Profit for the period: 17.91 (vs 1.68 in Q2 FY26)
  • Other comprehensive income: 0.18
  • Total comprehensive income: 18.09
  • Basic EPS: ₹0.03 (vs ₹0.00 in Q2 FY26)

Half Year Ended September 30, 2026 (₹ millions)

  • Revenue from operations: 740.66 (vs 562.54 in H1 FY26)
  • Other income: 196.43
  • Total income: 937.11
  • Total expenses: 791.26
  • Profit before tax: 66.80 (vs 57.99 in H1 FY26)
  • Total tax expense: 8.23
  • Profit for the period: 58.57 (vs 40.17 in H1 FY26)
  • Other comprehensive income: 0.18
  • Total comprehensive income: 58.75
  • Basic EPS: ₹0.09 (vs ₹0.07 in H1 FY26)

Standalone Balance Sheet (as at September 30, 2026, ₹ millions)

  • Total assets: 20,516.21 (vs 19,968.17 as at March 31, 2026)
  • Investments in subsidiaries, associates and joint ventures: 15,832.39
  • Loans: 2,096.02
  • Cash and cash equivalents: 712.48 (vs 998.82 as at March 31, 2026)
  • Total equity: 18,757.57
  • Borrowings (current + non-current): 300.00

Financial Results (Consolidated)

Quarter Ended September 30, 2026 (₹ millions)

  • Revenue from operations: 4,090.79 (vs 2,815.90 in Q2 FY26)
  • Other income: 106.13
  • Total income: 4,196.92
  • Total expenses: 3,952.24
  • Loss before tax from continuing operations: (408.51) (vs (119.53) in Q2 FY26)
  • Loss from discontinued operations: (1.96)
  • Total tax expense: 113.45
  • Loss for the period: (523.92) (vs (205.93) in Q2 FY26)
  • Other comprehensive loss: (8.04)
  • Total comprehensive loss: (531.96)
  • Basic EPS: ₹(0.80) (vs ₹(0.35) in Q2 FY26)

Half Year Ended September 30, 2026 (₹ millions)

  • Revenue from operations: 8,046.24 (vs 5,371.59 in H1 FY26)
  • Other income: 173.35
  • Total income: 8,219.59
  • Total expenses: 7,760.05
  • Loss before tax from continuing operations: (806.56) (vs (54.17) in H1 FY26)
  • Loss from discontinued operations: (1.96)
  • Total tax expense: 247.68
  • Loss for the period: (1,056.20) (vs (169.77) in H1 FY26)
  • Other comprehensive income: 18.63
  • Total comprehensive loss: (1,037.57)
  • Basic EPS: ₹(1.61) (vs ₹(0.30) in H1 FY26)

Consolidated Balance Sheet (as at September 30, 2026, ₹ millions)

  • Total assets: 27,739.36 (vs 26,904.70 as at March 31, 2026)
  • Property, plant and equipment: 7,972.19
  • Right of use assets: 2,414.38
  • Cash and cash equivalents: 1,709.70 (vs 3,014.89 as at March 31, 2026)
  • Total equity: 13,921.31
  • Borrowings (current + non-current): 5,611.90

Segment Performance (Q2 FY27, ₹ millions)

  • Aerospace segment revenue: 3,514.11
  • Aerospace segment result: 783.24
  • Consumer segment revenue: 576.68
  • Consumer segment result: (401.41)

Notes to Financial Results

1. The financial results have been prepared in accordance with Ind AS and SEBI Listing Regulations.

2. The figures for the corresponding quarter and six months ended September 30, 2025 have been approved by the Board but have not been audited or reviewed by statutory auditors.

3. During FY26, the Company reversed past impairment of ₹234.39 million on investment in joint venture SQuAD Forging India Private Limited.

4. During FY26, the Company incurred ₹476.22 million towards IPO expenses (including Pre-IPO). ₹39.02 million was expensed as exceptional loss and ₹437.20 million was reduced from Securities Premium.

5. The incremental impact of Labour Code changes on gratuity of ₹7.92 million (standalone) and ₹37.93 million (consolidated) was presented under 'Exceptional items' for FY26.

6. The Scheme of Amalgamation of AeroStructures Manufacturing India Private Limited, Aequs Engineered Plastics Private Limited and Aequs Force Consumer Products Private Limited with the Company was rejected by the Office of the Regional Director, South Western Region, Ministry of Corporate Affairs vide order dated October 12, 2026.

7. On September 25, 2026, the Board approved a preferential issue of up to 28,071,690 warrants to Melligeri Private Family Foundation (a Promoter) for aggregate consideration of ₹6,500 million, subject to regulatory approvals. This was approved by shareholders at the EGM held on October 22, 2026. The warrants are convertible into equity shares by December 31, 2027.

8. The Group has two reportable segments: Aerospace and Consumer.

9. The consolidated results include the Company, its Aequs Stock Option Plan Trust, 16 subsidiaries, 4 joint ventures, and 1 associate.

Other Operational Disclosures

The document represents a regulatory filing submitted to National Stock Exchange of India Limited and BSE Limited pursuant to Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.