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Aequs (AEQUS)₹236.20+4.49%Aerospace & Defense
In the Sep 2026 quarter (consolidated), Aequs reported sales of ₹408 Cr, up 45.1% from Sep 2025, and net profit of −₹52.09 Cr. For the year to Mar 2026, sales were ₹1,226 Cr and net profit −₹113 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 215 | 248 | 255 | 281 | 325 | 366 | 395 | 408 |
| Expenses | 210 | 226 | 229 | 254 | 298 | 364 | 382 | 396 |
| Operating Profit | 7.02 | 25.10 | 27.08 | 29.08 | 29.10 | 4.02 | 15.06 | 14.05 |
| OPM % | 3.4% | 10.0% | 11.0% | 10.0% | 9.0% | 1.1% | 3.7% | 3.4% |
| Other Income | 2.99 | 18.98 | 14.01 | 17.98 | −5.99 | 43.98 | 10.01 | 12.01 |
| Interest | 17.97 | 12.98 | 9.98 | 25.95 | 20.94 | 35.92 | 18.95 | 20.94 |
| Depreciation | 26.02 | 24.03 | 25.04 | 33.04 | 35.06 | 46.07 | 45.01 | 47.04 |
| Profit before tax | −33.85 | 5.98 | 5.98 | −11.96 | −32.87 | −32.89 | −39.87 | −40.85 |
| Tax % | 17.0% | −54.0% | 42.0% | 72.0% | 29.0% | 63.0% | 34.0% | 28.0% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | −9.99 | 3.99 | 0.00 | 0.00 |
| Net Profit | −40.08 | 9.02 | 4.01 | −21.03 | −43.10 | −54.05 | −53.07 | −52.09 |
| EPS (Rs) | −0.93 | 0.16 | 0.07 | −0.33 | −0.65 | −0.81 | −0.80 | −0.79 |
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|
| Sales | 809 | 962 | 922 | 1,226 | 1,494 |
| Expenses | 776 | 839 | 847 | 1,142 | 1,440 |
| Operating Profit | 40.15 | 129 | 79.30 | 92.36 | 62.23 |
| OPM % | 4.9% | 13.0% | 9.0% | 7.0% | 4.2% |
| Other Income | 24.98 | 43.96 | −5.99 | 68.98 | 60.01 |
| Interest | 68.82 | 68.87 | 63.91 | 93.79 | 96.75 |
| Depreciation | 100 | 108 | 103 | 138 | 173 |
| Profit before tax | −103 | −3.99 | −93.70 | −70.76 | −146 |
| Tax % | 6.0% | 233.0% | 9.0% | 58.0% | — |
| Exceptional items | −1.99 | 6.99 | −38.98 | −2.99 | −6.00 |
| Net Profit | −110 | −14.02 | −102 | −113 | −202 |
| EPS (Rs) | −2.34 | −0.27 | −1.77 | −1.70 | −3.05 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 423 | 424 | 580 | 669 |
| Reserves | −147 | −15.05 | 136 | 818 |
| Borrowings | 665 | 1,108 | 787 | 702 |
| Other Liabilities | 410 | 335 | 400 | 542 |
| Total Liabilities | 1,351 | 1,851 | 1,903 | 2,731 |
| Fixed Assets | 685 | 659 | 524 | 1,068 |
| CWIP | 0.00 | 175 | 396 | 79.14 |
| Investments | 58.23 | 92.36 | 77.28 | 106 |
| Other Assets | 609 | 923 | 906 | 1,478 |
| Inventories | 329 | 383 | 451 | 610 |
| Trade receivables | 107 | 137 | 157 | 264 |
| Cash & equivalents | 57.08 | 252 | 79.99 | 357 |
| Total Assets | 1,351 | 1,851 | 1,903 | 2,731 |
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Cash from operating activity | 10.01 | −19.01 | 26.01 | −99.14 |
| Cash from investing activity | −95.43 | −348 | −70.33 | −366 |
| Cash from financing activity | 54.12 | 394 | 25.05 | 706 |
| Net cash flow | −31.04 | 28.02 | −18.02 | 241 |
| Capex | 85.89 | 182 | 265 | 343 |
| Free cash flow | −75.80 | −174 | −238 | −439 |
| CFO / OP % | 27.1% | −12.0% | 48.1% | −79.9% |
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor days | 48 | 52 | 62 | 78 |
| Inventory days | 314 | 337 | 421 | 451 |
| Days payable | 215 | 177 | 215 | 238 |
| Cash conversion cycle | 146 | 210 | 267 | 290 |
| Working capital days | −45 | 10 | 12 | 49 |
| ROCE % | — | 4.0% | 1.0% | 2.0% |
For the Sep 2026 quarter, Aequs reported sales of ₹408 Cr, up 45.1% year on year and net profit of −₹52.09 Cr. The operating margin was 3.4%.
Aequs' sales for the year to Mar 2026 were ₹1,226 Cr; over the last twelve months they were ₹1,494 Cr.
Net profit for the year to Mar 2026 was −₹113 Cr, and −₹202 Cr over the last twelve months. Earnings per share over the same trailing period were ₹−3.05.
Aequs reported borrowings of ₹702 Cr at Mar 2026, against cash and equivalents of ₹357 Cr.
Cash from operations was −₹99.14 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹439 Cr.