Company Overview

Aeroflex Neu Limited (formerly Sah Polymers Limited, Scrip Code: 543743) filed its annual report for FY 2025-26 pursuant to SEBI Regulation 34(1), reporting significant financial improvement and strategic corporate actions.

Financial Performance Highlights

Consolidated Financials (₹ in lakhs)

  • Revenue from Operations: ₹12,916.50 (FY25: ₹12,923.53)
  • EBITDA: ₹851.38 (FY25: ₹622.11) with margin improvement to 6.59% from 4.81%
  • Profit Before Tax: ₹302.73 (FY25: ₹38.05)
  • Profit After Tax: ₹175.13 (FY25: ₹23.03), representing 575% YoY growth
  • Earnings Per Share (Basic): ₹0.68 (FY25: ₹0.09)

Standalone Financials (₹ in lakhs)

  • Revenue from Operations: ₹10,125.09 (FY25: ₹11,366.74)
  • Other Income: ₹432.08 (including foreign exchange gain of ₹292.55 lakh)
  • Finance Costs: Reduced to ₹193.43 lakh from ₹288.57 lakh
  • Profit After Tax: ₹117.03 (FY25: ₹17.32)

Key Financial Ratios & Position

| Ratio | FY26 | FY25 | Change |

| Debt Equity Ratio | 0.17 | 0.31 | Improved due to 40% borrowing reduction |

| Return on Equity | 1.27% | 0.21% | Significant profit improvement |

| Current Ratio | 3.10 | 2.07 | Enhanced liquidity position |

| Net Profit Ratio | 1.11% | 0.15% | Margin expansion |

Balance Sheet Strength: Total borrowings decreased to ₹1,712.87 lakh, inventory reduced 18% to ₹2,156.25 lakh, and cash equivalents increased to ₹1,669.04 lakh from ₹475.81 lakh.

Corporate Actions & Strategic Moves

Capital Raising

  • Issued 72,00,000 convertible warrants at ₹90 per warrant
  • Received ₹1,620 lakh upfront (25% payment)
  • Funds allocated for real estate development (₹4,000 lakh), working capital (₹1,200 lakh), and corporate purposes

Investments & Divestments

  • Acquisition: Purchased 19.58% stake in Stilonn Valves and Controls for ₹300.11 lakh
  • Divestment: Entered agreement to sell entire 51.01% stake in subsidiary Fibcorp Polyweave for ₹192.12 lakh

Capital Structure

  • Authorized Share Capital increased from ₹30 crore to ₹34 crore
  • Paid-up Equity Share Capital unchanged at ₹25.79 crore
  • No dividend recommended to conserve resources for growth

Subsidiary Performance

Fibcorp Polyweave Private Limited (51.01% subsidiary until divestment)

  • Total Revenue: ₹4,217.01 lakh
  • Export Revenue: ₹2,660.81 lakh (63.10% of total)
  • Profit After Tax: ₹13.41 lakh
  • Exports to more than 7 countries

Governance & Compliance

Board Composition

  • 6 Directors (3 Independent, 1 Woman Independent Director)
  • Whole-Time Director: Mr. Hakim Sadiq Ali Tidiwala
  • Key Managerial Personnel: Mr. Lalit Kumar Bolia (CFO), Ms. Alka Premkumar Gupta (Company Secretary)

Regulatory Status

  • All audit reports unmodified without qualifications
  • No material regulatory orders affecting going concern
  • No pending litigations impacting financial position
  • Compliance with SEBI regulations and Companies Act provisions

Future Outlook & Market Context

The global FIBC market is projected to grow from USD 6.4 billion in 2026 to USD 11.87 billion by 2036 at 6.4% CAGR. The company aims to leverage its BRC Packaging Certification, ISO Certifications, and expand export footprint while focusing on operational excellence and product innovation.

Important Dates

  • Annual General Meeting: August 25, 2026
  • Financial Year: April 1 - March 31
  • Book Closure: As per AGM notice