Aequs544634Quarterly results

Q2 revenue rises 45% YoY; net loss widens to ₹522 Mn

Aequs Q2 FY27 results via press release.

By ScoutQuest · Mon 26 Oct 2026, 4:29 PM IST · 3 min read

₹1,054 Mn

Q2 FY27₹522 MnH1 FY27₹1,054 Mn

Consolidated net loss: ₹522 Mn (Q2 FY27) and ₹1,054 Mn (H1 FY27).

Q2 Revenue: ₹4,091 Mn, up 45% YoY
Q2 Net Loss: ₹522 Mn, against ₹206 Mn loss a year ago
Aerospace Order Book: USD 1.1 billion, up 9% QoQ

What the update contains

Aequs Ltd has informed the exchanges of a press release dated 26 October 2026 setting out its consolidated financial results for the quarter ended 30 September 2026, along with business highlights and a management comment.

Topline

Q2 FY27 revenue from operations was ₹4,091 Mn, up 45% year-on-year and 3% quarter-on-quarter (Q1 FY27: ₹3,955 Mn; Q2 FY26: ₹2,816 Mn).
H1 FY27 revenue was ₹8,046 Mn, up 50% year-on-year from ₹5,372 Mn.
Counting proportionate joint venture contributions, Q2 revenue was ₹4,480 Mn, up 44% YoY and 4% QoQ. H1 revenue on that basis was ₹8,781 Mn, up 48% YoY.

Profits

Reported EBITDA was ₹245 Mn in Q2, up 14% sequentially but down 45% YoY. H1 EBITDA was ₹460 Mn, with margin at 6% versus 16% a year earlier.
The company explains the YoY gap by consumer electronics costs now being expensed, against the pre-operative phase in FY26.
Q2 consolidated net loss was ₹522 Mn, narrower than the ₹532 Mn loss in Q1 but wider than the ₹206 Mn loss in Q2 FY26. H1 loss was ₹1,054 Mn, compared with ₹167 Mn a year earlier. Depreciation and finance costs largely offset the sequential EBITDA rise.

Aerospace business

Aerospace revenue grew 44% YoY to ₹3,514 Mn in Q2 and 42% YoY to ₹6,736 Mn in H1. Aerospace EBITDA rose 24% YoY to ₹783 Mn in Q2 and 29% YoY to ₹1,514 Mn in H1.
The Aerospace order book stood at USD 1.1 billion (USD 1,096 Mn), up 9% QoQ.
The Safran A320 wheels agreement is described as the company's first serial-production contract with a tenure exceeding 15 years.
The product portfolio expanded to 5,978 SKUs, with 238 parts added during Q2.

Consumer business

Consumer revenue grew 52% YoY to ₹577 Mn in Q2 and 107% YoY to ₹1,310 Mn in H1.
The Consumer EBITDA loss widened to ₹401 Mn in Q2 from ₹361 Mn in Q1, with an H1 loss of ₹763 Mn, as the ramp affected cost absorption.
The company says Q2 volume ramp progressed slower than anticipated because of extended qualification timelines and supply chain constraints, and it is recalibrating the path to Consumer EBITDA breakeven.

Balance sheet and funding items mentioned

₹6,500 Mn promoter-group investment through preferential warrants is described as supporting capacity expansion, strategic JV investments and working capital.
H1 FY27 capital expenditure stood at ₹1,597 Mn.

Manufacturing scale

Nine Aerospace CNC machines were added in the quarter, taking the segment total to 229.
Annualised machining and moulding capacity across the company rose to 4.93 million hours.

Other items

Reenah Joseph was appointed Chief Financial Officer, with nearly two decades of experience across corporate finance, capital markets, M&A and investor relations.
New long-term supply agreements with Safran expanded the relationship to six Safran entities.

How to read it

The release points to fast revenue growth led by Aerospace, a rising order book and new long-term customer contracts, alongside a Consumer segment still making losses while it ramps up. Reported profitability is lower than a year ago and the company remains loss-making at the net level, so the headline sales growth and the bottom line are moving in different directions.

Also from Aequs