Aequs Ltd

Aequs will hold a meeting of the Board of Directors of the Company on 29 July 2026.

A domestic brokerage initiated coverage with a target price of Rs 320, implying an upside of 24.04% from the prevailing market price. It cited Aequs' position as India's only vertically integrated precision manufacturer of aerospace components, its long-standing relationships with global aerospace OEMs and its expansion into consumer electronics. A foreign brokerage also initiated coverage with a target price of Rs 444, implying an upside of 72.10%. It highlighted the company's vertically integrated aerospace manufacturing ecosystem, robust order book and growing presence in aero-engine components as key growth drivers. The buying interest lifted Aequs to a record high of Rs 271 during the session, taking its market capitalisation to about Rs 17,291.77 crore. The stock has rallied 127.71% from its record low of Rs 113.30 touched on 16 March 2026. Aequs made its stock market debut on 10 December 2025 at Rs 140, a premium of 12.9% over its IPO price of Rs 124. The IPO, which was open for subscription from 3 December to 5 December 2025, was subscribed 101.63 times. Aequs is a vertically integrated precision manufacturing company focused primarily on the aerospace sector. It provides end-to-end solutions spanning machining, forging, surface treatment and assembly, with expertise in machining high-end alloys such as titanium. Aerospace contributed about 89% of its FY25 revenue, while its consumer business comprises cookware, appliances, toys and electronics components. For the six months ended 31 March 2025, the company reported a consolidated net loss of Rs 20.07 crore on revenue from operations of Rs 537.16 crore. Powered by Capital Market - Live

Revenue from operations jumped 47.26% YoY to Rs 367.10 crore in Q4 FY26, driven by continued strength in aerospace and scaling of consumer segment. The company reported a pre-tax loss of Rs 33.27 crore in Q4 FY26 compared with pre-tax profit of Rs 5.87 crore in Q4 FY25. EBITDA fell 23% YoY to Rs 321 crore in Q4 FY26 from Rs 416 crore in Q4 FY25. EBITDA margin narrowed to 9% in Q4 FY26 compared with 17% in Q4 FY25, mainly due to commencement of commercial operations in consumer electronics in Q3, resulting in full operating costs being charged to the P&L while utilisation remained low. During the quarter, revenue from aerospace segment grew 29% YoY to Rs 3,040 crore while the consumer segment recorded a sharp 374.44% YoY growth to Rs 631 crore. On annual basis, the company reported consolidated net loss of Rs 113.25 crore in FY26 compared with net profit of Rs 102.34 crore in FY25. Revenue from operations jumped 33.08% to Rs 1,230.43 crore in FY26 from Rs 924.60 crore in previous fiscal. Aravind Melligeri, executive chairman and chief executive officer, Aequs, said, 'Our aerospace segment, backed by a strong orderbook of $889 million continued its steady growth, while our consumer segment posted 84% YoY growth as programs scale up, move into full production and revenue recognition. This year, we made significant strides in laying the foundation for our next phase of growth by signing MoUs with the Government s of Tamil Nadu and Karnataka for large- scale investments in both aerospace and consumer segments reinforcing our long- term commitment to manufacturing in India. With this we are deepening our manufacturing presence across key geographies, strengthening our capabilities, and advancing our aerospace portfolio toward higher margins and more complex programs.' Aequs operates a unique ecosystem with co -located capabilities spanning forging, precision machining, surface treatment, and assembly, enabling end - to-end manufacturing of complex, high-precision components. Alongside aerospace, the company operates a diversified consumer manufacturing ecosystem spanning consumer electronics, plastics and durables, leveraging its advanced engineering, tooling, and large- scale manufacturing capabilities to serve leading global brands. Powered by Capital Market - Live

Net loss of Aequs reported to Rs 53.72 crore in the quarter ended March 2026 as against net profit of Rs 8.92 crore during the previous quarter ended March 2025. Sales rose 47.26% to Rs 367.10 crore in the quarter ended March 2026 as against Rs 249.29 crore during the previous quarter ended March 2025. For the full year,net loss reported to Rs 113.25 crore in the year ended March 2026 as against net loss of Rs 102.35 crore during the previous year ended March 2025. Sales rose 33.08% to Rs 1230.44 crore in the year ended March 2026 as against Rs 924.61 crore during the previous year ended March 2025. ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var. Sales367.10249.29 47 1230.44924.61 33 OPM %1.149.84 -7.247.93 - PBDT3.2330.07 -89 73.8557.59 28 PBT-42.275.88 PL -63.84-45.82 -39 NP-53.728.92 PL -113.25-102.35 -11 Powered by Capital Market - Live

Aequs will hold a meeting of the Board of Directors of the Company on 26 May 2026.

The board of Aequs has approved the appointment of Ravi Kumar Assudani, as Head of Engineering - Consumer Business and designated as Senior Management Personnel (SMP) of the Company, with effect from 11 May 2026.

The estimated cumulative investment (including investments already made and proposed) in these projects is approximately Rs 2,856 crore over five years from FY2026. The Karnataka government will assist with approvals, permissions, and incentives, supporting Aequs' production of aerospace precision engineering products and consumer electronics enclosures. The MoU is not a related party transaction and is expected to facilitate priority approvals, better coordination, and access to incentives. Aequs is a vertically integrated precision manufacturer operating within a single SEZ in India, with operations across the aerospace and consumer segments. The company operates a unique ecosystem with co-located capabilities spanning forging, precision machining, surface treatment, and assembly, enabling end-to-end manufacturing of complex, high-precision components. The company reported a consolidated net loss of Rs 42.68 crore in Q3 FY26 compared with a net loss of Rs 39.81 crore in Q3 FY25. Revenue from operations jumped 50.8% YoY to Rs 326.17 crore in Q3 FY26.Powered by Capital Market - Live

Aequs is a vertically integrated precision manufacturer operating within a single SEZ in India, with operations across the aerospace and consumer segments. The company operates a unique ecosystem with co-located capabilities spanning forging, precision machining, surface treatment, and assembly, enabling end-to-end manufacturing of complex, high-precision components. The company reported a consolidated net loss of Rs 42.68 crore in Q3 FY26 compared with a net loss of Rs 39.81 crore in Q3 FY25. Revenue from operations jumped 50.8% YoY to Rs 326.17 crore in Q3 FY26.Powered by Capital Market - Live

ASMIPL is engaged in the business of manufacturing of aerostructure parts. As on 31st March 2025, the company reported a turnover of Rs 508.2 crore. This investment is a part of utilization of the IPO proceeds as specified in Aequs' prospectus dated December 5, 2025. These funds will be utilised to repay the bank loan and to meet CAPEX requirements. Aequs has subscribed 79,89,750 shares at a price of Rs 288.76 per equity share, aggregating to a total consideration of Rs 2,307,120,210. Aequs is a vertically integrated precision manufacturer operating within a single SEZ in India, with operations across the aerospace and consumer segments. The company operates a unique ecosystem with co-located capabilities spanning forging, precision machining, surface treatment, and assembly, enabling end -to-end manufacturing of complex, high-precision components. The company reported consolidated net loss of Rs 42.68 crore in Q3 FY26 compared with net loss of Rs 39.81 crore in Q3 FY25. Revenue from operations jumped 50.8% YoY to Rs 326.17 crore in Q3 FY26.Powered by Capital Market - Live

Aequs has made a further investment of Rs 230.71 crore in AeroStructures Manufacturing India, a wholly owned subsidiary of the Company, through a rights issuePowered by Capital Market - Live