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
- Book Value ₹ 22.2
- Dividend Yield 0.00 %
- ROCE 1.55 %
- ROE -9.99 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 8.34 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of -9.45% over last 3 years.
- Earnings include an other income of Rs.69.5 Cr.
- Debtor days have increased from 64.0 to 78.5 days.
* 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 812 | 965 | 925 | 1,230 | |
| 773 | 836 | 845 | 1,141 | |
| Operating Profit | 40 | 129 | 79 | 89 |
| OPM % | 5% | 13% | 9% | 7% |
| 25 | 44 | -6 | 69 | |
| Interest | 69 | 69 | 64 | 92 |
| Depreciation | 100 | 108 | 103 | 138 |
| Profit before tax | -103 | -4 | -94 | -71 |
| Tax % | 6% | 233% | 9% | 58% |
| -110 | -14 | -102 | -113 | |
| EPS in Rs | -2.33 | -0.26 | -1.76 | -1.69 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 15% |
| TTM: | 33% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -5% |
| TTM: | -74% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -9% |
| Last Year: | -10% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 425 | 425 | 582 | 671 |
| Reserves | -146 | -15 | 135 | 816 |
| 664 | 1,106 | 785 | 701 | |
| 410 | 337 | 401 | 503 | |
| Total Liabilities | 1,352 | 1,852 | 1,903 | 2,690 |
| 686 | 660 | 525 | 1,070 | |
| CWIP | 0 | 175 | 395 | 79 |
| Investments | 58 | 92 | 77 | 106 |
| 609 | 924 | 906 | 1,436 | |
| Total Assets | 1,352 | 1,852 | 1,903 | 2,690 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 10 | -19 | 26 | -99 | |
| -95 | -346 | -70 | -371 | |
| 54 | 393 | 25 | 704 | |
| Net Cash Flow | -31 | 28 | -18 | 235 |
| Free Cash Flow | -76 | -175 | -239 | -440 |
| CFO/OP | 27% | -12% | 48% | -83% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 48 | 52 | 62 | 78 |
| Inventory Days | 313 | 336 | 420 | 419 |
| Days Payable | 215 | 177 | 215 | 238 |
| Cash Conversion Cycle | 146 | 210 | 267 | 259 |
| Working Capital Days | -45 | 10 | 12 | 37 |
| ROCE % | 4% | 1% | 2% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Aerospace Capacity Utilization (India) % ・Standalone data |
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| Consolidated Annual Installed Capacity (Annualized) Million Hours |
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| Consumer Capacity Utilization (India) % ・Standalone data |
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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.