Aequs Ltd. (MAINBOARD)

IPO Details

Key Performance Indicators (KPI) 

Company Financial (In ₹Crore) 

About Company

Aequs is a leading diversified contract manufacturing company delivering high-precision, complex components to global OEMs across the aerospace and consumer industries. Through its unique, vertically integrated manufacturing ecosystems in India, Aequs provides true one-stop-shop capabilities—from forging and machining to surface treatment and assembly.

With one of India’s largest aerospace product portfolios, advanced metallurgy expertise, and end-to-end manufacturing within a single SEZ, Aequs serves major global programs such as the A320, B737, A350, and B787. Its integrated operations enable superior quality control, reduced lead times, improved cost efficiencies, and a lower carbon footprint.

Beyond aerospace, Aequs also manufactures consumer durables, electronics components, and engineered plastic products. Backed by strong engineering talent and world-class quality certifications (ISO 9001:2015, AS9100D, NADCAP), Aequs supports global clients with scale, reliability, and manufacturing excellence.

Strength

Advanced & Vertically Integrated Manufacturing Capabilities: The company offers end-to-end aerospace manufacturing within a single SEZ—covering machining, forging, surface treatment, and assembly. With over 2.9 million annual machining/molding hours, 200+ CNC machines, and 161 molding machines, Aequs produces complex components at scale and with high precision.

Unique Engineering-Led Ecosystems: Aequs operates specialized, vertically integrated precision manufacturing ecosystems built over two decades of collaboration with customers and suppliers. These ecosystems create high entry barriers for competitors and provide strong advantages in quality, cost efficiency, and timely delivery.

Long-Standing Global Customer Relationships: The company has long-established relationships with leading global OEMs such as Airbus, Boeing, Safran, Collins Aerospace, Hasbro, and Tramontina. Its top customer groups have an average 15-year association and contribute a major share of revenue, offering stable demand and access to large end markets.

Weakness

Requirement-Based Customer Contracts: Contracts with OEM customers do not guarantee fixed order quantities, and orders can be reduced, amended, or cancelled at any time. Any decline in customer production needs or cancellation of purchase orders may negatively affect the company’s revenue, operations, and cash flows.

High Capital Expenditure Requirements: The business requires continuous and significant investment in equipment, machinery, and production lines. Limited access to capital or inability to fund these upgrades may impact manufacturing capabilities and adversely affect financial performance.

Capacity Utilization and Operational Disruption Risks: The company operates multiple manufacturing clusters in India and facilities abroad. It may not always maintain current levels of capacity utilization, and any slowdown or shutdown in operations could adversely impact results, financial condition, and cash flows.