Aequs Ltd. · NSE:AEQUS
Aequs — Q3 FY26 Earnings Presentation
39 slides from Aequs's earnings presentation, Jan 29, 2026
Slide 1: Regulation 30 cover letter to stock exchanges
January 29, 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 - 400001. NSE Scrip Symbol: AEQUS BSE Scrip Code: 544634 Subject: Investor Presentation Ref.: Regul
Slide 2: Investor Presentation Q3 & 9M FY26
Investor P resenta tio n Q3 & 9M FY26
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 About Us 2 Industry Overview 3 Why Aequs 4 Growth Strategies 5 Q3 & 9M FY26 Financial Highlights 6 Annexure 3
Slide 5: About Us
01 About Us 4
Slide 6: 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 2 100% 15 years ₹9,246 Mn ₹8,633 Mn Business segments In-country value addition for Avg. R
Slide 7: History and evolution of the company
History and evolution of the company ▪ Expansion into Europe through acquisition of SIRA Group ▪ Delivered first consignment of plastic ▪ Establishment of unit in toys and commenced sector specific SEZ for operations of consumer ▪ Commencement of precision engineering at manufacturing facilities in
Slide 8: Key business segments - Aerospace
Key business segments - Aerospace Aerospace Segment One of the largest portfolios of aerospace products in India 86% Revenue Contribution (9M FY26) Interiors & Cargo Structures Turnings We have deep exposure to long-cycle, recurring aerospace programs 670 SKUs 4,093 SKUs 17 SKUs Assemblies Key Highl
Slide 9: 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 10: Key business segments - Consumer
Key business segments - Consumer Consumer Segment Our Diverse Consumer Portfolio Application Product Portfolio 14% Revenue Contribution (9M FY26) Consumer Segment Consumer Components for portable Scaling a diversified consumer portfolio leveraging Electronic Components Electronics computers and smar
Slide 11: 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 Process Ultrasonic Welding Hydraulic Press – 400T Anodizing Blow Molding Pneumatic Press 3 Axis and
Slide 12: Industry Overview
02 Industry Overview 11
Slide 13: Favourable global industry dynamics fuelled by India’s push to mfg.
Favourable global industry dynamics fuelled by India’s push to mfg. High Growth in the Global Aerospace Manufacturing Market (USD Bn) CY2024 CY2030F 272.56 188.04 118.51 81.76 50.37 34.75 24.53 35.55 Aircraft Sub-system Market Aerostructures Engine Landing Systems Global Fleet Replacement (in units)
Slide 14: Favourable global industry dynamics fuelled by India’s push to mfg.
Favourable global industry dynamics fuelled by India’s push to mfg. Strong Demand in the Global Consumer Manufacturing Market (USD Bn) CY2024 CY2030F 52.09 43.55 31.2 24.28 17.73 18.87 9.68 11.55 7.05 8.05 2.01 2.89 Laptop Enclosure Wearables Tablet Toy Cookware Non-stick Cookware Driven by multi de
Slide 15: Why Aequs?
03 Why Aequs? 14
Slide 16: 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 17: Mfg. presence across continents with strategic proximity customers
Mfg. presence across 3 continents with strategic proximity 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 Manufacturing
Slide 18: Ecosystem benchmark - Belagavi Aerospace Cluster
Ecosystem benchmark - Belagavi Aerospace Cluster built Grounds up Largest Aerospace Machining Capacity in India with 1.83M hours annually* Unit 2 Unit 1 Forging & Heat Treatment Warehouse & Tooling Precision Machining Aerostructures Assemblies FG Stores Engineering Services Raw Material Surface Fini
Slide 19: Long-standing relationships with high entry barrier global customers
Long-standing relationships with high entry barrier global customers 15 15 YRS 73.17% 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 cont
Slide 20: 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 Over 25 years of experience in the aerospace sector and has been associated with our Company since its incorporation in 2000 Rajeev Kaul Ravi Guttal Co-founder & Managing
Slide 21: Board of Directors
Board of Directors Aravind Melligeri Executive Chairman and Chief Executive Officer Over 25 years of experience in the aerospace sector and has been associated with our Company since its incorporation in 2000 Rajeev Kaul Co-founder & Managing Director Responsible for the overall operations and perfo
Slide 22: Growth Strategies
04 Growth Strategies 21
Slide 23: Strategies
Strategies Continue to increase wallet share with existing customers 1 2 Grow our portfolio of consumer products and diversify customer base in the Aerospace Segment Expanding our portfolio of consumer electronics products Moving up the value chain and increasing the manufacturing of more critical a
Slide 24: Strategies
Strategies Improve our margins through higher value manufacturing Leverage existing capabilities to increase our market share 3 and measures for operational efficiencies 4 in current operating segments and sector adjacencies AEROSPACE SEGMENT Global PEC Market (USD Bn) 23.04% 24.30% Enhance profitab
Slide 25: Q3 & 9M FY26 Financial Highlights
05 Q3 & 9M FY26 Financial Highlights 24
Slide 26: Performance Highlights
Performance Highlights “The business continues to deliver robust quarter-on-quarter performance, supported by Q3 FY26 Highlights (₹ Mn.) disciplined execution across our aerospace and consumer programs and well scaled operating footprint. In Q3, coordinated planning and shop-floor execution supporte
Slide 27: Performance Highlights
Performance Highlights Key updates Strong Aerospace orderbook stands at USD 814 Mn 64% 31% • Steady ramp up in Consumer business resulting in strong revenue momentum Aerospace Capacity Consumer Capacity Consumer(>70%)electronics programs awarded earlier have been Order visibility strengthened with t
Slide 28: Result Snapshot (Q3 FY26)
Result Snapshot (Q3 FY26) (₹ Mn.) Revenue Revenue EBITDA & EBITDA Margins PAT & PAT Margins 51% YoY 4% 16% 12% -18% -7% -13% 353% YoY Q3 FY25 Q2 FY26 Q3 FY26 16% QoQ 3,262 443 381 -426 2,816 -206 14% QoQ 2,163 107% QoQ 84 -399 Q3 FY25 Q2 FY26 Q3 FY26 Q3 FY25 Q2 FY26 Q3 FY26 7% YoY Highlights ▪ Q3 de
Slide 29: Result Snapshot (9M FY26)
Result Snapshot (9M FY26) (₹ Mn.) Revenue EBITDA & EBITDA Margins PAT & PAT Margins 10% 14% -17% -7% 28% 8,633 9M FY25 9M FY26 85% 1,222 6,753 -593 662 9M FY25 9M FY26 9M FY25 9M FY26 -1,115 47% Highlights ▪ Revenue grew 28% YoY, led by strong momentum in the aerospace segment and Consumer segment.
Slide 30: Result Snapshot (Q3 FY26) Including JV share
Result Snapshot (Q3 FY26) Including JV share (₹ Mn.) Revenue Revenue EBITDA & EBITDA Margins PAT & PAT Margins 49% YoY 6% 16% 13% -17% -7% -12% 228% YoY 3,554 Q3 FY25 Q2 FY26 Q3 FY26 14% QoQ 3,111 513 -426 449 2,385 -206 12% QoQ 107% QoQ 137 -399 Q3 FY25 Q2 FY26 Q3 FY26 Q3 FY25 Q2 FY26 Q3 FY26 7% Yo
Slide 31: Result Snapshot (9M FY26) Including JV share
Result Snapshot (9M FY26) Including JV share (₹ Mn.) Revenue EBITDA & EBITDA Margins PAT & PAT Margins 29% 11% 15% -15% -6% 9,482 9M FY25 9M FY26 75% 1,410 7,327 -593 808 9M FY25 9M FY26 9M FY25 9M FY26 -1,115 47% Highlights ▪ Revenue grew 29% YoY, led by strong momentum in the aerospace segment and
Slide 32: Revenue Profile
Revenue Profile Business Segments Revenue (INR Mn) Exports Profile (%) Q3 FY26 9M FY26 9M FY26 10% 18% 577 14% 1,210 885 2,685 82% 7,424 86% 7,748 90% Aerospace Consumer Exports Domestic Q3 FY25 9M FY25 9M FY25 10% 13% 12% 224 867 782 90% 5,886 87% 5,971 88% 1,939 31
Slide 33: Segment Update: Aerospace
Segment Update: Aerospace (₹ Mn.) YoY 38% QoQ 10% YoY 26% 2,685 7,424 2,437 Q3 Revenue 9M Revenue 5,886 1,939 Growth Growth Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 YoY 163% QoQ 0.48% YoY 62% 1,803 Q3 EBITDA 630 633 9M EBITDA Growth Growth 1,113 241 Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 32
Slide 34: Segment Update: Consumer
Segment Update: Consumer (₹ Mn.) YoY 157% QoQ 52% YoY 39% 577 1,209 Q3 Revenue 9M Revenue 379 867 Growth Growth 224 Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 -285 Q3 EBITDA -95 -77 9M EBITDA Growth Growth QoQ 107% -159 -310 YoY 9% YoY 68% 33
Slide 35: Key Metrics (9M FY26)
Key Metrics (9M FY26) Net Debt/Equity (x) Fixed Asset Turnover (x) Net Working Capital Days(1) 0.99 0.95 1.84 143 1.3 132 0.11 0.84 120 FY25 9M FY25 9M FY26 FY25 9M FY25 9M FY26 FY25 9M FY25 9M FY26 ROE (%) ROCE (%) (2) Segment ROCE (%) 9M FY25 9M FY26 Period Aerospace Consumer FY25 2.74 FY25 14.27%
Slide 36: Consolidated P/L Statement
Consolidated P/L Statement (₹ Mn.) Particulars Q3 FY26 Q3 FY25 YoY Change 9M FY26 9M FY25 YoY Change Revenue from operations 3,262 2,163 51% 8,633 6,753 28% Other income 91 10 374 175 Total income 3,352 2,173 54% 9,008 6,928 30% Consumption 1,272 867 3,447 2,837 Employee benefit expense 571 444 1,48
Slide 37: Consolidated Balance Sheet
Consolidated Balance Sheet (₹ Mn.) Particulars As at 31st Dec’25 As at 31stMarch’25 Particulars As at 31st Dec’25 As at 31st March’25 EQUITY AND LIABILITIES ASSETS EQUITY Non-current assets Equity share capital 6,707 5,818 Property, plant and equipment 8,169 5,854 Reserves and surplus 8,611 1,351 No
Slide 38: Cash Flow Statement
Cash Flow Statement (₹ Mn.) Particulars Q3 FY26 Q3 FY25 9M FY26 9M FY25 Net Income -330 -341 -387 -1001 Depreciation 350 262 922 792 Finance Cost 203 178 555 447 Change in Working Capital -265 24 -653 -231 Cash flow from operations (A) -42 123 437 7 Capital expenditures -1,093 -695 -3,092 -1,917 Oth
Slide 39: THANK YOU
THANK YOU 38