Aequs (AEQUS) Q4 25/26 earnings summary

Executive summary

• FY 2026 marked a transformative year with 33% YoY revenue growth to ₹12,304 million and a 43% YoY increase in EBITDA, driven by business expansion, a successful IPO, and robust performance in both aerospace and consumer segments.

• Major MoUs were signed for aerospace and consumer manufacturing expansion in Tamil Nadu (₹1,900 crore) and Karnataka (₹2,856 crore), anchoring long-term ambitions.

• Leadership was strengthened with key hires, including a new head for the Consumer segment, and an R&D partnership with IIT Dharwad was established.

• The company completed an IPO, raising ₹6,700 million, and a pre-IPO round raising ₹1,440 million, with IPO expenses totaling ₹476.22 million.

• Board approved audited standalone and consolidated financial results for the year ended March 31, 2026, with unmodified opinions from statutory auditors.

Financial highlights

• Consolidated revenue for FY26 was ₹12,304 million, up 33% YoY, with EBITDA up 43% to ₹1,545 million and margin expansion to 13%.

• Q4 FY26 revenue reached a record ₹3,671 million, up 47% YoY; Q4 EBITDA margin was 9%.

• Full-year PAT was a loss of ₹1,133 million, with negative PAT margin improving from -11% to -9%, impacted by higher depreciation, taxation, and one-time expenses.

• Including JV share, FY26 revenue was ₹13,466 million (+34% YoY), EBITDA ₹1,830 million (+42% YoY, 14% margin).

• Total assets on a consolidated basis increased to ₹26,904.70 million as of March 31, 2026.

Outlook and guidance

• Aerospace segment guided for 25%-30% revenue growth in FY27, maintaining 20% EBITDA margin.

• Consumer segment expected to grow revenue by 125%-150% in FY27, targeting EBITDA breakeven by Q4.

• Consolidated revenue growth projected at 45%-50% for FY27, with operational EBITDA expected to double.

• The company is monitoring regulatory changes, including new labor codes, and plans for amalgamation of certain wholly owned subsidiaries are underway.