Belagavi: Aequs Limited (Aequs or the Company), an engineering-led, vertically integrated, precision manufacturing company with a strong global footprint across the Aerospace and Consumer segments, January 29 announced its financial results for the quarter and nine months ended December 31, 2025, reporting strong year-on-year growth in revenue and EBITDA.
Key Financial Highlights (Consolidated):
| Particulars (Rs Mn) | Q3FY2026 | Q3FY2025 | YoY | 9MFY2026 | 9MFY2025 | YoY |
| Revenue from Operations | 3,262 | 2,163 | 51% | 8,633 | 6,753 | 28% |
| EBITDA | 381 | 84 | 353% | 1,222 | 662 | 85% |
| EBITDA Margin % | 12% | 4% | 800 bps | 14% | 10% | 400 bps |
| PAT | -426 | -399 | -7% | -593 | -1,115 | 47% |
| PAT Margin % | -13% | -18% | -7% | -17% |
Reported PAT includes one-time expenses related to labour law changes and IPO-related costs of INR 167 Mn.
Key Financial Highlights – Q3 FY26
- Revenue grew 51% YoY to ₹3,262 Mn, driven by strong aerospace performance and continued ramp-up in consumer programmes.
- EBITDA increased 353% YoY to ₹381 Mn, supported by strong revenue growth and operating leverage.
Key Financial Highlights – 9M FY26
- Revenue grew 28% YoY to ₹8,633 Mn, led by strong momentum in aerospace and consumer programmes.
- EBITDA grew 85% YoY to ₹1,222 Mn, with margin expansion driven by revenue growth and operating discipline.
- Losses narrowed materially, supported by improving utilisation, and better absorption.
- Exports accounted for 90% of revenues reflecting strong traction with global OEMs.
Business Highlights:
- Strong Aerospace orderbook stands at USD 814 Mn
- Consumer electronics programs awarded earlier have been fully industrialised, with revenues now beginning to flow
- Partnered with Accel India and Vagus Defence to enter design and manufacturing of Unmanned Aerial Vehicles (UAV), primarily for India defence requirements
- Got approval from MeitY for PLI under Electronics Components Manufacturing Scheme (ECMS)
- Added Mattel as a new customer in Consumer Segment and shipments started during the quarter
Commenting of the performance Aravind Melligeri, Executive Chairman and Chief Executive Officer, Aequs Limited, said, “The business continues to deliver robust quarter-on-quarter performance, supported by disciplined execution across our aerospace and consumer programmes and well scaled operating footprint. In Q3, coordinated planning and shop-floor execution supported stable operations across our facilities, with revenues growing 51% YoY.”
He added, “On an adjusted basis including our share of the JV, revenue and EBITDA growth remained very strong, reflecting the full underlying performance of the business. The Aerospace JV continued to contribute to profitability and cash flows, while the Cookware JV remains in its scale-up phase.”
“Across the portfolio, key programmes advanced through planned production milestones, supported by improving utilisation levels alongside capacity additions,” stated Aravind Melligeri.
Aequs Limited is the only engineering-led, 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.
In aerospace, Aequs is among India’s largest precision component manufacturers, with a portfolio of over 5,000 qualified parts across engine systems, structures, actuation systems, landing systems, and assemblies.
The Company is a Tier-1 supplier to leading global aerospace OEMs and system integrators, including Airbus, Boeing, Safran, and Collins Aerospace, and maintains long-standing relationships with global customers.
Alongside aerospace, Aequs operates a diversified consumer manufacturing ecosystem spanning consumer electronics, plastics, toys, and consumer durables, leveraging its advanced engineering, tooling, and large-scale manufacturing capabilities to serve leading global brands.
It operates within integrated manufacturing clusters in Belagavi, Hubballi, and Koppal (Karnataka), supported by international operations in the United States and France, providing proximity to key global customers. The Company has an annual machining and molding capacity of 3.96 million hours per year and advanced special-process certifications, positioning it as a long-term manufacturing partner for global OEMs.
