Aeroflex Industries (AEROFLEX) Q2 26/27 earnings summary

Executive summary

• Record Q2 and H1 FY27 results, with consolidated Q2 revenue from operations of INR 207.36 crore and total income of INR 207.68 crore; reported profit includes a benefit from the depreciation-method change.

• Growth plans center on expanded hose and skid capacity, liquid-cooling solutions for data centers, and investment in R&D and advanced manufacturing.

Financial highlights

• Consolidated Q2 revenue from operations was INR 207.36 crore, up 87.01% YoY; total income was INR 207.68 crore, EBITDA INR 50.34 crore and PAT INR 36.56 crore.

• Consolidated H1 revenue was INR 352.74 crore, up 80.70% YoY; EBITDA was INR 83.83 crore and PAT INR 55.35 crore.

• Consolidated Q2 and H1 EBITDA margins were 24.27% and 23.77%; PAT margins were 17.60% and 15.65%, respectively.

• Standalone Q2 revenue was INR 202.06 crore and PAT INR 36.50 crore; H1 revenue was INR 341.07 crore and PAT INR 55.56 crore.

Outlook and guidance

• FY2027 sales target is INR 715–725 crore, implying ~60% annual growth; core-business momentum is expected to continue in H2.

• FY2027 skid-assembly revenue target raised to INR 150–200 crore; the initial INR 125 crore target was expected to be achieved during Q2.

• FY2030 revenue target is near INR 1,500 crore, with operating margin outlook of ~25% or slightly higher as new capacity reaches peak utilization.

• Skid capacity utilization is expected at 40%–50% this year; 15,000-unit capacity is targeted to reach peak utilization the following year.