Aequs Ltd
Founded in 2000, Aequs focuses on high-precision, high-complexity components and assemblies for global OEMs and Tier-1 suppliers, especially in civil aviation.[1]
- Market Cap ₹ 15,801 Cr.
- Current Price ₹ 236
- High / Low ₹ 295 / 113
- Stock P/E 477
- Book Value ₹ 27.8
- Dividend Yield 0.00 %
- ROCE 3.24 %
- ROE 2.09 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company's working capital requirements have reduced from 79.2 days to 46.1 days
Cons
- Stock is trading at 8.46 times its book value
- Company has a low return on equity of 1.90% over last 3 years.
- Promoters have pledged 25.4% of their holding.
- Earnings include an other income of Rs.75.9 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| 52 | 70 | 74 | 92 | 124 | 134 | |
| 50 | 68 | 65 | 83 | 123 | 135 | |
| Operating Profit | 1 | 2 | 9 | 9 | 1 | -1 |
| OPM % | 2.7% | 2.9% | 12% | 10% | 1.0% | -0.9% |
| -157 | -25 | -120 | -63 | 73 | 76 | |
| Interest | 6 | 9 | 8 | 6 | 9 | 8 |
| Depreciation | 12 | 12 | 11 | 10 | 9 | 10 |
| Profit before tax | -174 | -44 | -130 | -71 | 56 | 57 |
| Tax % | 3% | 0% | 0% | 5% | 11% | |
| -178 | -44 | -130 | -74 | 50 | 50 | |
| EPS in Rs | -4.50 | -1.03 | -3.07 | -1.27 | 0.74 | 0.74 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 21% |
| TTM: | 34% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 190% |
| TTM: | 1041% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 1% |
| 3 Years: | 2% |
| Last Year: | 2% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 396 | 425 | 425 | 582 | 671 |
| Reserves | 100 | 114 | 147 | 328 | 1,197 |
| 63 | 139 | 465 | 52 | 35 | |
| 58 | 46 | 90 | 94 | 97 | |
| Total Liabilities | 616 | 724 | 1,126 | 1,055 | 2,000 |
| 53 | 57 | 49 | 40 | 35 | |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 431 | 586 | 808 | 852 | 1,519 |
| 132 | 80 | 270 | 163 | 446 | |
| Total Assets | 616 | 724 | 1,126 | 1,055 | 2,000 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 17 | 14 | -7 | 0 | -5 | |
| -172 | -169 | -451 | -6 | -793 | |
| 150 | 124 | 483 | -8 | 881 | |
| Net Cash Flow | -6 | -31 | 25 | -13 | 83 |
| Free Cash Flow | 15 | 12 | -9 | -1 | -15 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 1,243% | 755% | -63% | 11% | 126% |
Ratios
Standalone / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 114 | 68 | 58 | 68 | 73 |
| Inventory Days | 581 | 313 | 496 | 420 | 332 |
| Days Payable | 264 | 356 | 282 | 243 | 220 |
| Cash Conversion Cycle | 431 | 25 | 271 | 246 | 184 |
| Working Capital Days | -28 | -150 | -29 | 220 | 46 |
| ROCE % | 1% | 3% | 2% | 3% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Aerospace India Capacity Utilization % |
|
|||
| Aerospace Revenue Share % |
||||
| Consumer Segment Capacity Utilization % |
||||
| Installed Annual Capacity (Machining & Molding Hours) Mn hours |
||||
| Aerospace Order Book USD Mn |
||||
| Aerospace Portfolio (SKUs) Number |
||||
| Manufacturing Footprint Mn sq. ft. |
||||
| Total Equipment (CNC + Molding Machines) Number |
||||
Extracted by Screener AI
Documents
Announcements
- Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
- Shareholder Meeting / Postal Ballot-Outcome of EGM
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Aequs schedules Q2 FY2027 earnings conference call for October 26, 2026 at 6:00 PM IST.
-
Board Meeting Intimation for To Consider And Approve, Inter Alia, The Unaudited Financial Results (Both Standalone And Consolidated) Of The Company Along With The Limited Review Report Of The Statutory Auditors, For The Quarter And Half Year Ended September 30, 2026
- Board to meet on October 26, 2026, to approve Q2 FY2026-27 financial results.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
- Aequs Limited informed about Newspaper Publication regarding circulation of Corrigendum to the Notice of the Extra-Ordinary General Meeting to be held on October 22, 2026.
Concalls
-
Aug 2026Transcript PPT REC
-
Jun 2026Transcript PPT
-
May 2026PPT REC
-
Feb 2026Transcript PPT
-
Jan 2026PPT
Business Profile [1]
Aequs is the only precision component manufacturer in India operating a fully vertically integrated aerospace ecosystem within a single SEZ, covering forging, machining, surface treatment, and assembly. It has produced over 5,000 aerospace products across major global platforms.