Aequs Limited reported a 33% year-on-year increase in consolidated revenue to ₹12,304 million for the financial year ended March 31, 2026. The growth was driven by strong momentum in the aerospace segment and the scaling of the consumer business. For the quarter ended March 31, 2026, the company achieved record quarterly revenue of ₹3,671 million, a 47% increase from the same period last year. The Board of Directors approved the audited financial results on May 26, 2026. M/s. B S R & Co. LLP, Statutory Auditors, issued an audit report with an unmodified opinion on the standalone and consolidated results.

Financial Performance

Consolidated EBITDA for FY26 grew 43% to ₹1,545 million, with margins expanding to 13% from 12% in the previous year. The company reported a consolidated net loss of ₹1,133 million for the year, compared to a loss of ₹1,024 million in FY25. The net loss for Q4 FY26 stood at ₹541 million, impacted by the commencement of commercial operations in Consumer Electronics in Q3, which incurred full operating costs while utilisation remained low. The company completed its initial public offering (IPO) during the year, raising ₹6,700 million.

The table below summarises the key financial metrics across periods:

Business Highlights

The Aerospace segment generated revenue of ₹10,464 million in FY26, growing 27% year-on-year. The order book strengthened to USD 889 million, with 433 new aerospace parts added in Q4, bringing the total portfolio to 5,654 SKUs. The Consumer segment revenue grew 84% YoY, contributing 17% of total revenues in Q4. Capacity utilisation stood at 62% for aerospace and 23% for the consumer segment.

Strategic Developments

Aequs announced strategic investments totalling ₹4,756 crore through MoUs with state governments. This includes ₹1,900 crore for an integrated aerospace ecosystem in Tamil Nadu and ₹2,856 crore for expansion across segments in Karnataka. The Board also approved the Scheme of Amalgamation of certain wholly owned subsidiaries—AeroStructures Manufacturing India Private Limited, Aequs Engineered Plastics Private Limited and Aequs Force Consumer Products Private Limited—with the company, pending requisite approvals.

The Aequs group and the Indian Institute of Technology Dharwad (IIT-D) have jointly established an advanced research and development ecosystem for materials science and manufacturing innovation at the IIT-D campus. The collaboration, announced on May 15, 2026, from Dharwad, Karnataka, represents a significant step in deepening industry-academia engagement within India's precision manufacturing landscape.

Facility Capabilities and Objectives

The newly operationalized facility is equipped to support a range of advanced scientific and industrial functions. Key capabilities of the R&D ecosystem include:

• Advanced material characterization
• Failure analysis
• Manufacturing process simulation and optimization
• Enabling deeper industry-academia collaboration in precision-driven manufacturing domains

The initiative lays the foundation for a dedicated "IIT Dharwad – Aequs Research and Development Center" to be established in the coming days, aimed at accelerating applied research, fostering innovation, and bridging the gap between laboratory science and industrial application.

Leadership Perspectives

Senior leadership from both organizations highlighted the strategic significance of the partnership.

Melligeri further noted that the collaboration will enhance IIT Dharwad's applied research capabilities and industry engagement, while enabling Aequs to deliver cutting-edge products to its customers. Prof. Desai described the initiative as "a model for deep academia-industry integration in emerging areas of materials science and advanced manufacturing," emphasizing the direct exposure it provides to students and researchers facing real-world manufacturing challenges.

Impact on Manufacturing Quality and Training

The center is enabling detailed insights into material behavior and failure mechanisms, contributing to measurable improvements across critical manufacturing parameters:

• Improved product quality
• Enhanced reliability
• Reduced failure rates
• More efficient manufacturing processes

These outcomes are particularly significant for high-precision industries where material performance is critical. Beyond research, the facility is actively conducting hands-on training programs for engineers, researchers, and students, strengthening capabilities in advanced analysis of metals and non-metals.

Operational Support and Oversight

Aequs continues to support the center through technical assessments, equipment performance monitoring, and maintenance oversight, ensuring high standards of scientific rigor and operational excellence. This ongoing involvement underscores the company's commitment to sustaining the quality and relevance of the research conducted at the facility.

Aequs is a vertically integrated precision component manufacturer with capabilities across the aerospace and consumer sectors, operating through engineering-led manufacturing ecosystems for global OEM customers. IIT Dharwad is one of India's premier institutions for engineering education and research, committed to advancing innovation, scientific discovery, and industry collaboration across key technology domains.