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 ₹ 12,430 Cr.
- Current Price ₹ 185
- High / Low ₹ 224 / 113
- Stock P/E 375
- Book Value ₹ 27.8
- Dividend Yield 0.00 %
- ROCE 3.22 %
- ROE 2.39 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company's working capital requirements have reduced from 75.6 days to 35.2 days
Cons
- Stock is trading at 6.64 times its book value
- Company has a low return on equity of 2.32% over last 3 years.
- Earnings include an other income of Rs.73.3 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 | |
|---|---|---|---|---|---|
| 52 | 70 | 74 | 92 | 124 | |
| 50 | 68 | 65 | 83 | 123 | |
| Operating Profit | 1 | 2 | 9 | 9 | 1 |
| OPM % | 3% | 3% | 12% | 10% | 1% |
| -157 | -25 | -120 | -63 | 73 | |
| Interest | 6 | 9 | 8 | 6 | 9 |
| Depreciation | 12 | 12 | 11 | 10 | 9 |
| Profit before tax | -174 | -44 | -130 | -71 | 56 |
| Tax % | 3% | 0% | 0% | 5% | 11% |
| -178 | -44 | -130 | -74 | 50 | |
| EPS in Rs | -4.50 | -1.03 | -3.07 | -1.27 | 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: | 202% |
| TTM: | 246% |
| 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 | 94 | |
| Total Liabilities | 616 | 724 | 1,126 | 1,055 | 1,997 |
| 53 | 57 | 49 | 40 | 35 | |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 431 | 586 | 808 | 852 | 1,519 |
| 132 | 80 | 270 | 163 | 442 | |
| Total Assets | 616 | 724 | 1,126 | 1,055 | 1,997 |
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/OP | 1,243% | 755% | -63% | 11% | 154% |
Ratios
Standalone Figures in Rs. Crores / 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 | 306 |
| Days Payable | 264 | 356 | 282 | 243 | 220 |
| Cash Conversion Cycle | 431 | 25 | 271 | 246 | 159 |
| Working Capital Days | -28 | -150 | -29 | 220 | 35 |
| ROCE % | 1% | 3% | 2% | 3% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Aerospace Capacity Utilization (India) % |
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| Consolidated Annual Installed Capacity (Annualized) Million Hours |
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| Consumer Capacity Utilization (India) % |
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| Export Revenue Mix % |
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| Workforce - Total Headcount Count |
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| Aerospace Portfolio Size (Number of SKUs) Count |
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Extracted by Screener AI
Documents
Announcements
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Results - Financial Results For The Quarter And Year Ended March 31 2026
2d - Board approved standalone and consolidated FY26 results on May 26, 2026; auditors issued unmodified opinion.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 2d
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 2d
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Compliances-Reg.24(A)-Annual Secretarial Compliance
28 May - Aequs filed its FY26 secretarial compliance report; no non-compliances or penalties reported.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 27 May
Concalls
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May 2026TranscriptAI SummaryPPT
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Feb 2026Transcript PPT
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Jan 2026TranscriptAI SummaryPPT
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.