Aequs Ltd. · NSE:AEQUS
Aequs — Q2 & H1 FY27 Earnings Presentation
33 slides from Aequs's earnings presentation, Oct 26, 2026
Slide 1: Exchange filing cover letter: Investor Presentation
October 26, 2026 To, National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, C-1, Block G, 20th Floor, P.J. Towers, Bandra Kurla Complex, Bandra (E), Dalal Street, Mumbai – 400 051 Mumbai – 400 001 NSE Scrip Symbol: AEQUS BSE Scrip Code: 544634 Subject: Investor Presentation Ref: Regu
Slide 2: Investor Presentation Q2 & H1 FY27
Investor Presenta tion Q2 & H1 FY27
Slide 3: Safe Harbor Statement
Safe Harbor Statement This presentation by Aequs Limited (“Company”) may contain statements related to the future business prospects, financial performance, strategies, and have been prepared solely for information purposes and nothing in it shall be construed as an invitation, offer, solicitation,
Slide 4: Table of Contents
Table of Contents 1 Aequs – A Snapshot 2 Q2 & H1 FY27 Highlights 3 About Us 4 Why Aequs 3
Slide 5: Aequs Limited – A snapshot
Aequs Limited – A snapshot We are the only engineering-led, vertically integrated precision manufacturer within a single SEZ Business Manufacturing What sets us Robust Operations Capabilities apart? Financials ₹8,046 Mn ₹4,091 Mn 2 100% 15 years Revenue Revenue Business segments In-country value add
Slide 6: Q2 & H1 FY27 Financial Highlights
02 Q2 & H1 FY27 Financial Highlights 5
Slide 7: Performance Highlights
Performance Highlights The first half of FY27 marked continued progress in expanding our business and H1 FY27 Highlights strengthening our long-term growth opportunities. Revenue grew 50% YoY to ₹8,046 Mn, (₹ Mn) driven by 42% growth in Aerospace and more than doubling of Consumer revenue on a YoY b
Slide 8: Business Highlights
Business Highlights Key updates 69% Strengthening the capital foundation for long-term growth: ₹6,500 Mn promoter-group investment through preferential warrants reinforces promoter commitment and supports the Company's next 17% phase of capacity expansion, strategic JV investments and working capita
Slide 9: From Belagavi to Hosur – Replicating the Ecosystem
From Belagavi to Hosur – Replicating the Ecosystem Proven aerostructures ecosystem at Belagavi is the blueprint for a new aero-engine & landing gear ecosystem at Hosur BELAGAVI AEROSPACE CLUSTER OPERATIONAL HOSUR AEROSPACE CLUSTER UNDER DEVELOPMENT Focus: Aerostructures & Actuations Focus: Aero-engi
Slide 10: Consumer: ramp delayed, underlying opportunity intact
Consumer: ramp delayed, underlying opportunity intact Start-up and customer-transition factors slowed the Q2 FY27 ramp; we are recalibrating the path to Consumer EBITDA breakeven WHAT HAPPENED IN Q2 Way forward Learning curve Product cycle time • Volume ramp slower than anticipated Advanced Recalibr
Slide 11: Result Snapshot (Q2 FY27)
Result Snapshot (Q2 FY27) (₹ Mn.) Revenue Revenue EBITDA & EBITDA Margins PAT & PAT Margins 45% YoY 16% 5% 6% -7% -13% -12% 45% YoY Q2 FY26 Q1 FY27 Q2 FY27 3% QoQ 4,091 3,955 443 -206 2,816 14% QoQ 2% QoQ 245 215 -532 -522 Q2 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q1 FY27 Q2 FY27 >100% YoY INCLUDING JV SHARE
Slide 12: Result Snapshot (H1 FY27)
Result Snapshot (H1 FY27) (₹ Mn.) Revenue EBITDA & EBITDA Margins PAT & PAT Margins 16% 6% -3% -13% 50% 8,046 H1 FY26 H1 FY27 841 -167 5,372 45% 460 -1,054 >100% H1 FY26 H1 FY27 H1 FY26 H1 FY27 INCLUDING JV SHARE ↑ 48% YoY INCLUDING JV SHARE ↓ 34% YoY PAT and PAT margin include share of profit/(loss
Slide 13: Revenue Profile
Revenue Profile Business Segments Revenue (%) Exports Profile (%) H1 FY27 Q2 FY27 H1 FY27 14% 13% 16% 84% 87% 86% Aerospace Consumer Exports Domestic H1 FY26 Q2 FY26 H1 FY26 12% 13% 11% 88% 87% 89% 12
Slide 14: Segment Update: (Q2 FY27)
Segment Update: (Q2 FY27) (₹ Mn) YoY 44% Aerospace YoY 24% QoQ 9% QoQ 7% 3,514 783 3,222 731 Revenue EBITDA 630 2,437 Q2 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q1 FY27 Q2 FY27 Consumer Q2 FY26 Q1 FY27 Q2 FY27 YoY 52% 0 -100 734 QoQ 21% -77 -200 Revenue 577 EBITDA -300 -361 379 -401 -400 QoQ 11% -500 YoY >100%
Slide 15: Segment Update: (H1 FY27)
Segment Update: (H1 FY27) (₹ Mn) Aerospace YoY 42% 6,736 YoY 29% 1,514 Revenue 4,740 EBITDA 1,170 H1 FY26 H1 FY27 H1 FY26 H1 FY27 Consumer H1 FY26 H1 FY27 YoY >100% 1,310 Revenue EBITDA -151 632 H1 FY26 H1 FY27 -763 YoY >100% 14 Note: EBITDA includes Other Income and excludes unallocated cost prior
Slide 16: Consolidated P/L Statement
Consolidated P/L Statement (₹ Mn) Particulars Q2 FY27 Q2 FY26 YoY Change Q1 FY27 H1 FY27 H1 FY26 YoY Change Revenue from operations 4,091 2,816 45% 3,955 8,046 5,372 50% Other income 106 157 67 173 284 Total income 4,197 2,973 41% 4,023 8,220 5,655 45% Consumption 1,621 1,110 1,685 3,306 2,175 Emplo
Slide 17: Consolidated Balance Sheet
Consolidated Balance Sheet (₹ Mn) As at As at As at As at Particulars th st Particulars 30 Sep 2026 31 Mar 2026 30th Sep 2026 31st Mar 2026 EQUITY AND LIABILITIES ASSETS EQUITY Non-current assets Equity share capital 6,707 6,707 Property, plant and equipment 9,442 8,755 Reserves and surplus 7,215 8,
Slide 18: Cash Flow Statement
Cash Flow Statement (₹ Mn) Particulars H1 FY27 H1 FY26 Profit/(loss) before tax (807) (54) Depreciation 919 572 Finance cost 381 351 Change in working capital (1,302) (390) Cash flow from operations (A) (808) 479 Capital expenditures (1,597) (1,993) Other 101 (44) Investing activities (B) (1,496) (2
Slide 19: Key Metrics
Key Metrics Net Debt/Equity (x) Fixed Asset Turnover (x) (1) Net Working Capital Days 1.5 151 1.2 136 0.5 0.2 FY26 H1 FY27 FY26 H1 FY27 FY26 H1 FY27 ROE (%) ROCE (%) (2) Segment ROCE (%) FY26 H1 FY27 FY26 H1 FY27 Period FY26 H1 FY27 Aerospace 20 22 2 -8 Consumer -15 -25 -15 -5 (1) Fixed Asset Turnov
Slide 20: About Us
03 About Us 19
Slide 21: History and evolution of the company
History and evolution of the company ▪ Entered JV with Accel India Fund, Vagus to set up Ajna Aerospace to focus on UAV ▪ Expansion into Europe manufacturing. through acquisition of SIRA Group ▪ Entered into MoU with TN Govt. for India’s ▪ Began manufacturing ▪ Delivered first first Aero Engine oper
Slide 22: Key business segments - Aerospace
Key business segments - Aerospace Aerospace Segment One of the largest portfolios of aerospace products in India 84% Revenue Contribution (H1 FY27) Interiors & Cargo Structures Turnings We have deep exposure to long-cycle, recurring aerospace programs 601 SKUs 4,467 SKUs 121 SKUs Assemblies Key High
Slide 23: Our Manufacturing Excellence – Aerospace
Our Manufacturing Excellence – Aerospace Only company within a single SEZ with end-to-end manufacturing capabilities for the Aerospace Segment in India Ability to manufacture components from start-to-finish Forging Precision Machining Surface Treatment Aero Assemblies Multi-spindle and Multitasking
Slide 24: Key business segments - Consumer
Key business segments - Consumer Consumer Segment Our Diverse Consumer Portfolio Application Product Portfolio 16% Revenue Contribution (H1 FY27) Consumer Segment Consumer Components for portable Scaling a diversified consumer portfolio leveraging Electronic Components Electronics computers and smar
Slide 25: Our Manufacturing Excellence – Consumer
Our Manufacturing Excellence – Consumer Molding Stamping Machining Secondary Process Chemical Surface Assembly Treatment Mechanical Press – 200T Vertical and Horizontal Injection Molding machining 10 Processes Ultrasonic Welding Hydraulic Press – 400T Anodizing Blow Molding Pneumatic Press 3 Axis an
Slide 26: Why Aequs?
04 Why Aequs? 25
Slide 27: The Aequs Edge
The Aequs Edge A Scaled Cluster Ecosystem Built for Speed, True End-to-End Aerospace Manufacturing A Diversified Manufacturing Engine With Cost & Throughput Platform Capacity to Scale Three India clusters + France & US sites, delivering Co-located machining → forging → surface treatment Our advanced
Slide 28: Manufacturing presence across continents with strategic proximity to customers
Mfg. presence across 3 continents with strategic proximity to customers India Operations Global Operations All Indian facilities are ISO-certified for quality, information security, employee safety and environment Paris, Texas Cholet, France Koppal Manufacturing Belagavi 2015 Cluster 2016 Manufactur
Slide 29: Ecosystem benchmark - Belagavi Aerospace Cluster
Ecosystem benchmark - Belagavi Aerospace Cluster built Grounds up Largest Aerospace Machining Capacity in India with 2.12Mn hours* annually Unit 2 Unit 1 Forging & Heat Treatment Warehouse & Tooling Precision Machining Aerostructures Assemblies FG Stores Engineering Services Raw Material Surface Fin
Slide 30: Long-standing relationships with high entry barrier global customers
Long-standing relationships with high entry barrier global customers 15 15 YRS 63% BOEING AIRBUS 22 Export Markets Total OEMs customer Average tenure of 3 largest Top 5 customer group Tier 1 supplier 6-times D2P award from 2016 to Global presence across North groups globally customer groups contribu
Slide 31: Founder-led business supported by an experienced management team
Founder-led business supported by an experienced management team Aravind Melligeri Executive Chairman and Chief Executive Officer Associated with the Company since its incorporation in 2000. Over 25 years of experience in the aerospace sector. Rajeev Kaul Ravi Guttal Co-founder & Managing Director C
Slide 32: Board of Directors
Board of Directors Aravind Melligeri Executive Chairman and Chief Executive Officer Associated with the Company since its incorporation in 2000. Over 25 years of experience in the aerospace sector. Rajeev Kaul Co-founder & Managing Director Associated with the Company since 2007. Eberhard Klaus Rich
Slide 33: Thank You
THANK YOU For further information, Please connect: Ernst & Young LLP Aequs Limited Diwakar Pingle/ Kunal Bhoite /Manav Poal Ashama Rajawat [email protected]/ [email protected]/ [email protected] [email protected] +91 9833904971/ 9833217607/ 9945536258 32