Aequs’ aerospace order book crossed $1 billion, expanding by 13% sequentially
Aequs Ltd saw a drop in profitability for the first quarter of FY27, recording a net loss (PAT) of ₹53.2 crore, compared to a profit of ₹3.9 crore in Q1 FY26. EBITDA also fell 46% year-on-year to ₹21.5 crore, with margins shrinking to 5%. The year-on-year margin drop reflects Consumer Electronics operating costs being expensed following the start of commercial operations, whereas they were capitalized in Q1 FY26.Despite the profit decline, top-line performance remained robust. Revenue from operations grew 55% year-on-year and 8% sequentially to reach ₹395.5 crore, propelled by continued momentum in the aerospace segment and the scale-up of consumer programmes.The aerospace segment led top-line growth with a 40% year-on-year revenue increase to ₹322.2 crore, supported by higher customer build rates and additional parts entering production. The aerospace order book crossed $1 billion, expanding by 13% sequentially. Aerospace EBITDA grew 35% year-on-year to ₹73.1 crore, though it experienced a sequential decline from Q4 FY26 due to an elevated base containing higher other income.
Aravind Melligeri, Executive Chairman and Chief Executive Officer, said, “Q1 marks a strong start to FY27 - the year we committed to translating expanded capacity into financial returns. Customer confidence in our execution is reflected in our order book crossing $1 billion, up 13% sequentially. Consumer revenue nearly tripled YoY as our new facilities moved up the production curve.”The consumer division delivered strong top-line trajectory, nearly tripling its revenue year-on-year by 190% to ₹73.4 crore as production volumes increased across the portfolio. The segment’s revenue contribution rose to 19% of consolidated revenue, compared to 10% in Q1 FY2026.During the quarter the company invested ₹83 crore in capex to support future growth. “Our milestones stand - Consumer EBITDA breakeven by Q4 FY27 and consolidated PAT breakeven by H1 FY28 - and this quarter is the first proof point on that path, reinforcing our Vision 2031 roadmap of 4–6x revenue growth, 18–22% EBITDA margin and 20% steady-state RoCE,” added Melligeri.Capacity utilisation stood at 70% in aerospace (78% for domestic capacity) and 22% in the consumer segment during the quarter. The company strengthened its growth pipeline by securing long-term agreements with two new Aerostructures Tier-1 customers, as well as signing its first contract with Safran Landing Systems for fully assembled Airbus A320 wheels featuring 100% in-country manufacturing value addition.Published on July 29, 2026
