Aequs reported a consolidated net loss of ₹52.2 crore for the September quarter of FY27, even as revenue rose 45 per cent year-on-year to ₹409.1 crore and its aerospace order book expanded to $1.1 billion. The precision engineering company said higher depreciation and finance costs offset stronger operating performance.
The Q2 loss was marginally lower than the ₹53.2 crore loss reported in the preceding quarter. For the first half of FY27, however, Aequs’ consolidated net loss widened sharply to ₹105.4 crore from ₹16.7 crore a year earlier.
Aerospace remained the company’s main growth engine. Revenue from the segment increased 44 per cent year-on-year to ₹351.4 crore in Q2, while first-half revenue rose 42 per cent to ₹673.6 crore. Segment EBITDA grew 24 per cent to ₹78.3 crore during the quarter and 29 per cent to ₹151.4 crore for the first half.
The company’s Consumer business also expanded rapidly, with Q2 revenue rising 52 per cent year-on-year to ₹57.7 crore. First-half Consumer revenue more than doubled to ₹131 crore. The segment’s EBITDA loss, however, widened to ₹40.1 crore in Q2 from ₹36.1 crore in Q1, taking its first-half loss to ₹76.3 crore as the gradual ramp-up of operations continued to weigh on cost absorption.
Including proportionate contributions from joint ventures, Aequs reported Q2 revenue of ₹448 crore, a 44 per cent year-on-year increase and a 4 per cent sequential rise. EBITDA on the same basis stood at ₹33.1 crore, down 36 per cent year-on-year but up 8 per cent from the previous quarter. For the first half, revenue rose 48 per cent to ₹878.1 crore, while EBITDA was ₹63.8 crore, representing a margin of approximately 7 per cent.
The aerospace order book increased 9 per cent sequentially to $1.1 billion, giving the company long-term revenue visibility. Aequs also signed an agreement with Safran for A320 wheels. The company described it as its first serial-production contract with a tenure exceeding 15 years.
During the quarter, Aequs added 238 parts to its aerospace portfolio, taking the total number of stock-keeping units to 5,978. The expansion underlines the scale of manufacturing capability being built around the company’s aerospace business, although the reported losses show that depreciation, financing and operating ramp-up costs remain significant.
The promoter group invested ₹650 crore through preferential warrants. Aequs said the funding would strengthen its position for capacity expansion, strategic joint-venture investments and working-capital requirements. Executive Chairman and Chief Executive Officer Aravind Melligeri said the first half saw continued business expansion and stronger long-term growth prospects. He put the aerospace order book at $1,096 million.
The company also appointed Reenah Joseph as Chief Financial Officer. Joseph has nearly two decades of experience across corporate finance, capital markets, mergers and acquisitions, and investor relations.
