• Event Type: Q2 FY27 Earnings Conference Call for discussion of quarterly results and business updates.
  • Date and Time: The call was held on Thursday, October 29, 2026 at 11:00 A.M. IST.
  • Management Participants: Mr. Asad Daud, Managing Director, along with members of the senior management team and representatives from Strategic Growth Advisors, their Investor Relations Partner.
  • Presentation Availability: The financial results and investor presentation were available on stock exchanges and the company's website at https://www.aeroflexindia.com. The audio recording and transcript of the call were also made available on the company website.
  • Financial Period Discussed: Q2 FY27 (Quarter ended September 2026) and H1 FY27 (Six months ended September 2026).
  • Financial Highlights:
  • Q2 FY27 Total Income: INR 207.68 crores (87% YoY growth)
  • Q2 FY27 EBITDA: INR 50.34 crores (94% YoY growth)
  • Q2 FY27 EBITDA Margin: 24.27%
  • Q2 FY27 PAT: INR 36.56 crores (157% YoY growth)
  • Q2 FY27 PAT Margin: 17.6%
  • H1 FY27 Total Income: INR 353.66 crores (81% YoY growth)
  • H1 FY27 EBITDA: INR 83.83 crores (103% YoY growth)
  • H1 FY27 EBITDA Margin: 23.77%
  • H1 FY27 PAT: INR 55.35 crores
  • H1 FY27 PAT Margin: 15.65%
  • Depreciation Method Change: The company changed depreciation method from WDV to straight-line method effective April 1, 2026, resulting in reduction of depreciation expense by INR 8.41 crores for both Q2 and H1 FY27.
  • Business Segment Performance:
  • Metal flexible hose business grew 40% YoY in H1 FY27
  • Assemblies and value-added products grew 44% YoY in H1 FY27
  • Liquid cooling vertical contributed 24% to H1 FY27 revenue
  • Bellows business: Q2 FY27 INR 6 crores, H1 FY27 INR 9 crores
  • Hyd-Air Engineering: H1 FY27 revenue INR 11.5 crores
  • Strategic Updates:
  • Merger of wholly-owned subsidiary Hyd-Air Engineering with Aeroflex to streamline operations
  • INR 202 crores capacity expansion plan announced
  • Stainless steel flexible hose capacity expansion from 20 to 30 million meters per annum by March 2028 (INR 124 crores investment)
  • Liquid cooling skid assembly capacity expansion from 15,000 to 30,000 units per annum by March 2028 (INR 78 crores investment)
  • Current skid capacity: 12,000 units commissioned, 15,000 units expected by December 2026
  • Peak capacity utilization expected to generate incremental revenue of INR 500-550 crores annually
  • Market Opportunity:
  • Working exclusively with a major US multinational company for liquid cooling solutions in India
  • Global liquid cooling market size: $4-5 billion growing at >30% YoY
  • Advanced discussions for international expansion with same customer
  • Preliminary discussions with other international customers
  • Guidance and Outlook:
  • FY27 revenue guidance: INR 715-725 crores (60% growth)
  • FY30 revenue target: ~INR 1,500 crores
  • Margin outlook: Maintain 25%+ EBITDA margins
  • Skid business FY27 target: INR 150-200 crores (up from initial INR 125 crores)
  • Current capacity utilization: 80% for hose business
  • Expected skid capacity utilization: 40-50% for FY27, peak utilization by FY28
  • Technology Innovation: Granted patent for automated 3D CAD model generation for braided hose assemblies

Additional Notes Section

  • The document includes the full transcript of the earnings conference call with detailed Q&A session covering operational metrics, market strategy, and financial performance.
  • The company clarified that no unpublished price sensitive information (UPSI) was shared during the call.
  • Financial data was extensively disclosed including segment-wise performance, capacity utilization, and future guidance.
  • The transcript contains detailed discussions on customer relationships, market size estimates, and competitive landscape.