Aequs Quarterly Revenue Jumps 45.3% to 409.1 Crore Rupees, Order Book Reaches $1.096 Billion

Key Facts

Aequs revenue rose 45.3% year on year to 409.1 crore rupees in the second quarter of fiscal 2027, compared with 281.6 crore rupees in the year-earlier period, according to results data reported by AlphaTribe. Revenue increased 3.4% from the first quarter, when it stood at 395.5 crore rupees. In the first half of the fiscal year, the company posted revenue of 8,046 million rupees, up 50% year on year, according to Business Upturn. This came as aerospace revenue grew 42% in the first half, while consumer revenue more than doubled from a year earlier. The aerospace order book stood at $1.096 billion, giving the company a substantial base of orders to convert into production and revenue.

But sales growth did not translate into improved operating profit during the quarter. Operating profit fell 51.4% year on year to 13.9 crore rupees, while the operating margin contracted 670 basis points to 3.4%, according to AlphaTribe data. For the first half, the company reported earnings before interest, taxes, depreciation and amortization of 460 million rupees, with a margin of 6%. It also recorded a net loss of 1,054 million rupees, with a loss margin of 13%, according to Business Upturn. The figures show a divergence between revenue growth and expanding activity on one hand, and continued weakness in the bottom line on the other. Operating performance remains a key focus as the company expands in aerospace and seeks to increase consumer-sector volumes.

Aerospace was the clearest driver of revenue growth, with segment sales up 42% in the first half, alongside consumer revenue more than doubling year on year, according to Business Upturn. The company, however, faced delays in scaling quarterly consumer-sector volumes because of extended qualification periods and supply-chain constraints. Coverage of the results said the company had reset the segment’s path toward break-even earnings before interest, taxes, depreciation and amortization. Management’s guidance on the first-quarter earnings call had targeted break-even by the fourth quarter of fiscal 2027. But new results coverage indicated that the target had been pushed back, citing slow operational ramp-up, putting execution and production scaling to a further test.

Management had previously forecast 45% to 50% annual growth in total revenue in fiscal 2027, with improvement expected to be concentrated in the second half, according to the first-quarter earnings-call transcript. That follows 50% revenue growth in the first half, while quarterly revenue rose just 3.4% from the previous quarter. The company said first-half capital expenditure totaled 1,597 million rupees. It also announced promoter guarantees worth 6,500 million rupees to support expansion, according to Business Upturn. These investments link the growth trajectory to the company’s ability to increase capacity and fulfill orders, while expansion costs heighten the importance of margin improvement.

In aerospace, the aircraft-wheel supply agreement with Safran runs for more than 15 years, through 2042, and includes manufacturing the wheels entirely in India, according to an Aequs announcement. The company said new agreements with Safran subsidiaries will support the supply chain and ongoing production programs. The CEO described the components Aequs will manufacture as "among the most demanding aerospace-critical products to industrialize," adding that the award reflects the confidence the company has built. The long-term agreement provides context for the $1.096 billion aerospace order book, but requires commitments to be converted into actual production over several years. In the market, data for October 26 showed the stock at 240.85 rupees, up 2.25% during the session, according to Value Research Online.

Aequs is scheduled to hold its earnings call on October 26, 2026, according to an investor-relations notice. The call will be the next opportunity to present details of quarterly and first-half performance, as revenue-growth expectations intersect with falling operating profit and a delay in the consumer segment reaching break-even. Management previously expected fiscal-year growth to be concentrated in the second half, while aerospace expansion is backed by a large order book and long-term supply agreements. Capital expenditure and promoter guarantees also form part of the announced expansion plans’ financing. Investors will therefore focus on execution and margin trends, based on the figures and guidance available from the company.