Aequs Ltd

Aequs Limited is an Indian precision manufacturing company that produces components and finished products for the aerospace and consumer industries. The company has manufacturing operations in India, France and the United States, serving major global customers across different industries.

Aequs follows a vertically integrated manufacturing model, which means it handles multiple stages of production, including forging, precision machining, surface treatment and assembly. This allows the company to manage product quality, costs and delivery timelines within its manufacturing network.

What Does Aequs Limited Do?

Aequs operates through two major business segments: aerospace manufacturing and consumer manufacturing.

1. Aerospace Manufacturing

Aerospace is Aequs' largest business, contributing approximately 86% of its consolidated revenue in Q2 FY27.

The company manufactures precision-engineered components used in aircraft engines, landing systems, aircraft structures and other aerospace equipment.

Aequs works with major global aerospace companies, including Airbus, Boeing, Safran and Collins Aerospace. Its manufacturing operations are primarily based in Belagavi, Karnataka, with additional facilities in France and the United States.

The company has developed a portfolio of approximately 5,978 qualified aerospace parts, reflecting its ability to manufacture a wide range of components for aircraft programmes.

As of Q2 FY27, Aequs had an aerospace order book of approximately $1.1 billion. These orders provide visibility into future manufacturing demand, although revenue depends on production schedules and order execution.

2. Consumer Manufacturing

Aequs' consumer manufacturing business produces components and finished products across categories such as consumer electronics, toys, plastics and consumer durables.

The company's manufacturing facilities in Karnataka, including Belagavi, Hubballi and Koppal, support its expansion into these industries.

Consumer manufacturing contributed approximately 14% of consolidated revenue in Q2 FY27.

Unlike aerospace, this business is still in its expansion phase. Aequs is investing in manufacturing capacity and increasing production volumes to serve customers across different consumer product categories.

As of Q2 FY27, capacity utilisation in the consumer business was approximately 17%. The company aims to increase utilisation as customer approvals and production ramp-ups progress.

Business Model and Growth Strategy

Aequs generates revenue by manufacturing and supplying components and finished products to business customers. Its aerospace business benefits from long-term customer relationships and aircraft manufacturing programmes, while consumer manufacturing provides exposure to electronics, toys and other consumer product categories.

The company's growth strategy focuses on expanding aerospace manufacturing capacity, securing long-term contracts and increasing the range of products it manufactures.

In consumer manufacturing, Aequs is focused on improving factory utilisation and scaling production to make the business more efficient.

The company's long-term growth will depend on executing its aerospace order book, expanding customer relationships and improving the utilisation and profitability of its consumer manufacturing facilities.