Aequs Posts Record Quarterly Revenue as Aerospace Order Book Tops USD 1 Billion

Riding on strong aerospace demand and the rapid scale-up of its consumer manufacturing business, Aequs delivered record quarterly revenues while its aerospace order book crossed the landmark USD 1 billion mark, reinforcing the company's emergence as one of India's fastest-growing precision engineering manufacturers.

Precision engineering manufacturer Aequs Limited reported its highest-ever quarterly revenue for the quarter ended June 30, 2026, driven by sustained growth in its aerospace business and rapid expansion of its consumer manufacturing operations. The company posted consolidated revenue of ₹3,955 million in the first quarter of FY27, marking a robust 55% year-on-year (YoY) increase and an 8% sequential rise, as aerospace production gathered momentum and consumer programmes continued to scale.

A major highlight of the quarter was Aequs' aerospace order book crossing the USD 1 billion milestone, rising 13% sequentially from USD 889 million to USD 1.004 billion. The company said the increase reflects growing customer confidence, an expanding portfolio of production programmes, and a strong long-term growth pipeline.

The aerospace business remained the primary growth engine, generating ₹3,222 million in revenue during the quarter, up 40% YoY and 6% quarter-on-quarter (QoQ). Growth was supported by higher customer build rates and the transition of additional aerospace components into production. Aerospace EBITDA reached ₹731 million, representing a 35% YoY increase, although it declined sequentially from the previous quarter due to a higher base that included greater other income.

“Q’1 marks a strong start to FY27 - the year we committed to translating expanded capacity into financial returns. Revenue grew 55% YoY to ₹3,955 Mn, led by Aerospace with higher build rates and an expanding portfolio. Customer confidence in our execution is reflected in our order book crossing USD 1 billion, up 13% sequentially. Consumer revenue nearly tripled YoY as our new facilities moved up the production curve.”

- Aravind Melligeri, Executive Chairman and Chief Executive Officer, Aequs Limited

The consumer segment also delivered a strong performance, with revenue surging 190% YoY and 16% QoQ to ₹734 million as production volumes increased across multiple product categories. Consumer business contribution to consolidated revenue rose to 19%, compared with 10% in the corresponding quarter last year, reflecting the continued scale-up of the company's manufacturing ecosystem.

Despite strong top-line growth, profitability remained under pressure as operating expenses from newly commissioned consumer electronics facilities were fully expensed following the commencement of commercial production, unlike the capitalisation treatment in the year-ago period. Consequently, consolidated EBITDA declined 46% YoY to ₹215 million, with EBITDA margin narrowing to 5% from 16% a year earlier.

However, Aequs reported a significant improvement in its underlying operating performance. Operational EBITDA, excluding other income, increased nearly 3.5 times sequentially to ₹148 million, up from ₹42 million in the previous quarter, supported by improving cost absorption and narrowing losses in the consumer business.

The company's PAT loss stood at ₹532 million, compared with a profit of ₹39 million in the corresponding quarter last year. Sequentially, however, the loss improved from the adjusted Q4 FY26 loss of ₹631 million after excluding an exceptional gain recorded in the previous quarter.

Operational efficiency also improved during the quarter, with the consumer segment's EBITDA loss narrowing by ₹112 million, or approximately 24%, compared with the previous quarter. Capacity utilisation reached 70% in aerospace operations and 22% in consumer manufacturing, while aerospace facilities in India operated at 78% utilisation, indicating healthy demand and room for future capacity expansion.

To support long-term growth, Aequs invested ₹830 million in capital expenditure during the quarter. The company also strengthened its aerospace pipeline by signing long-term agreements with two new aerostructures Tier-1 customers and securing its first contract from Safran Landing Systems for fully assembled Airbus A320 wheels, featuring 100% in-country manufacturing value addition for the flight-critical product.

Commenting on the results, Aravind Melligeri, Executive Chairman and Chief Executive Officer of Aequs Limited, said the first quarter marks a strong beginning to FY27, the year in which the company aims to convert its expanded manufacturing capacity into financial returns. He noted that customer confidence is reflected in the order book surpassing the USD 1 billion mark, while the sharp increase in consumer revenue demonstrates the successful ramp-up of new manufacturing facilities.

Melligeri added that the sequential improvement in operational EBITDA validates the operating leverage outlined during the company's Investor Day and reaffirmed Aequs' milestones of achieving consumer EBITDA breakeven by Q4 FY27 and consolidated PAT breakeven by the first half of FY28. He said these remain key milestones under the company's Vision 2031 strategy, which targets 4–6 times revenue growth, 18–22% EBITDA margins, and 20% steady-state return on capital employed (RoCE).

Aequs, an engineering-led precision manufacturer operating within a single Special Economic Zone (SEZ), serves leading global aerospace companies including Airbus, Boeing, Safran and Collins Aerospace while also expanding its presence across consumer electronics, plastics, toys and consumer durables through integrated manufacturing clusters in Karnataka and international operations in the United States and France.