AEQUS2026-07-012026-09-30AEQUS2026-09-30AEQUS2026-03-31AEQUS2026-04-012026-09-30AEQUS2026-07-012026-09-30in-capmkt:OtherExpenses1MemberAEQUS2026-07-012026-09-30in-capmkt:OtherExpenses2MemberAEQUS2026-04-012026-09-30in-capmkt:OtherExpenses1MemberAEQUS2026-04-012026-09-30in-capmkt:OtherExpenses2MemberAEQUS2026-09-30OtherNoncurrentFinancialAssetsDomain1AEQUS2026-09-30OtherNoncurrentAssetsDomain1AEQUS2026-09-30OtherNoncurrentAssetsDomain2AEQUS2026-09-30OtherNoncurrentAssetsDomain3AEQUS2026-09-30OtherNoncurrentAssetsDomain4AEQUS2026-09-30OtherNoncurrentAssetsDomain5AEQUS2026-09-30OtherCurrentFinancialAssetsDomain1AEQUS2026-09-30OtherCurrentAssetsDomain1AEQUS2026-09-30OtherCurrentAssetsDomain2AEQUS2026-09-30OtherNoncurrentFinancialLiabilitiesDomain1AEQUS2026-09-30OtherNoncurrentLiabilitiesDomain1AEQUS2026-09-30OtherNoncurrentLiabilitiesDomain2AEQUS2026-09-30OtherNoncurrentLiabilitiesDomain3AEQUS2026-09-30OtherNoncurrentLiabilitiesDomain4AEQUS2026-09-30OtherCurrentFinancialLiabilitiesDomain1AEQUS2026-09-30OtherCurrentLiabilitiesDomain1AEQUS2026-09-30OtherCurrentLiabilitiesDomain2AEQUS2026-09-30OtherCurrentLiabilitiesDomain3AEQUS2026-09-30OtherCurrentLiabilitiesDomain4AEQUS2026-07-012026-09-30in-capmkt:ReportableSegments1MemberAEQUS2026-07-012026-09-30in-capmkt:ReportableSegments2MemberAEQUS2026-04-012026-09-30in-capmkt:ReportableSegments1MemberAEQUS2026-04-012026-09-30in-capmkt:ReportableSegments2MemberAEQUS2026-07-012026-09-30in-capmkt:ReportableSegments1MemberAEQUS2026-07-012026-09-30in-capmkt:ReportableSegments2MemberAEQUS2026-04-012026-09-30in-capmkt:ReportableSegments1MemberAEQUS2026-04-012026-09-30in-capmkt:ReportableSegments2MemberAEQUS2026-07-012026-09-30in-capmkt:ReportableSegments1MemberAEQUS2026-09-30in-capmkt:ReportableSegments1MemberAEQUS2026-07-012026-09-30in-capmkt:ReportableSegments2MemberAEQUS2026-09-30in-capmkt:ReportableSegments2MemberAEQUS2026-07-012026-09-30in-capmkt:ReportableSegments1MemberAEQUS2026-09-30in-capmkt:ReportableSegments1MemberAEQUS2026-07-012026-09-30in-capmkt:ReportableSegments2MemberAEQUS2026-09-30in-capmkt:ReportableSegments2MemberAEQUS2026-07-012026-09-30ItemsThatWillBeReclassifiedToProfitAndLoss1AEQUS2026-07-012026-09-30ItemsThatWillBeReclassifiedToProfitAndLoss2AEQUS2026-04-012026-09-30ItemsThatWillBeReclassifiedToProfitAndLoss1AEQUS2026-04-012026-09-30ItemsThatWillBeReclassifiedToProfitAndLoss2iso4217:INRiso4217:INRxbrli:shares544634AEQUSNOTLISTEDINE947N01017AEQUS LIMITEDMain BoardEquity2026-04-012027-03-312026-10-262026-10-21INRMillionsQuarterlySecond quarterMulti segment2026-10-2614:50:002026-10-2615:35:00trueCash Flow IndirectNot applicable2026-07-012026-09-30UnauditedConsolidated4090790000106130000419692000018462400000-22534000075789000020598000046532000015734500004623540000-4266200000-426620000120790000-73400001134500000-540070000-19600000-196000018110000-523920000-8040000-531960000-5239200000-80400000670666000010-0.8-0.800-0.8-0.8Notes to unaudited consolidated financial results for the quarter and six months ended September 30, 2026 <br /> <br /> 1. The above consolidated financial results of Aequs Limited (referred to as the 'Parent' or the 'Company'), its Aequs Stock Option Plan Trust and its subsidiaries (Company, its Aequs Stock Option Plan Trust and its subsidiaries together referred to as “the Group”) and its associate and joint ventures for the quarter and six months ended September 30, 2026, have been prepared in accordance with the Indian Accounting Standard (referred to as 'Ind AS') prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2015, as amended from time to time and in terms of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. <br /> 2. These consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on October 26, 2026. The Statutory auditors of the Company have conducted a 'Limited Review' of the consolidated financial results in accordance with Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations') and have issued an unmodified review report thereon. <br /> 3. The figures for the corresponding quarter ended September 30, 2025, as reported in these consolidated financial results, have been approved by the Company's Board of Directors but have not been audited or reviewed by the statutory auditors. This statement of consolidated financial results is being prepared and submitted in compliance with Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended. <br /> 4. The results of the corresponding six months ended September 30, 2025 are extracted from the audited special purpose interim financial statements. The audit of special purpose interim financial statements for the six months ended September 30, 2025 was conducted for the purpose of Initial Public Offering ("IPO"). <br /> 5. The consolidated financial results include the results of the following entities: <br /> Holding Company <br /> Aequs Limited (Formerly known as Aequs Private Limited) <br /> Indian Subsidiaries <br /> Aerostructures Manufacturing India Private Limited (ASMIPL) <br /> Aerospace Manufacturing Holdings Private Limited (AMHPL) <br /> Aequs Force Consumer Products Private Limited (AFCPPL) <br /> Aequs Engineered Plastics Private Limited (AEPPL) <br /> Aequs Consumer Products Private Limited (ACPPL) <br /> Aequs Manufacturing Private Limited (AMPL) (Formerly known as Aequs Toys Private Limited) <br /> Koppal Toys Moulding COE Private Limited (KTMCPL) <br /> Aerostructures Assemblies India Private Limited (AAIPL) <br /> Aequs Rajas Extrusion Private Limited (AREPL) <br /> <br /> Foreign Subsidiaries <br /> Aequs Aerospace France SAS (AAF SAS) <br /> Aequs Aerospace BV (AABV) <br /> Aequs Holdings France, SAS (AHF) <br /> Aequs Aero Machine Inc. (AAM) <br /> Aequs Oil and Gas LLC (AOGLLC) <br /> Aequs Toys Hong Kong Private Limited (ATHPL) (Dissolved w.e.f. September 17, 2026) <br /> <br /> Indian Joint Ventures <br /> SQuAD Forging India Private Limited (SQuAD) <br /> Aerospace Processing India Private Limited (API) <br /> Aequs Cookware Private Limited (ACPL) <br /> Ajna Aerospace & Defence Private Limited (Ajna) <br /> <br /> Indian Associate <br /> Aequs Foundation <br /> <br /> 6. During the year ended March 31, 2026, the Company has incurred Rs. 476.22 Mn towards Initial Public Offer ('IPO') expenses including Pre-IPO. Of this, Rs. 39.02 Mn has been expensed off to Statement of Profit and Loss as an exceptional loss and the balance Rs. 437.20 Mn has been reduced from Securities Premium as cost of fresh issue. <br /> 7. On November 21, 2025, the Government of India notified the four Labour Codes - The Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The Ministry of Labour and Employment published Central Rules and FAQs to enable assessment of the financial impact due to the changes in regulations. The Group has assessed and disclosed the incremental impact of these changes on the basis of actuarial opinion obtained and the best information available, consistent with the guidance provided by the Institute of Chartered Accountants of India. Considering the materiality and regulatory-driven, non-recurring nature of this impact, the Group has presented such incremental impact under 'Exceptional items' in the Statement of consolidated financial results for year ended March 31, 2026. The incremental impact on gratuity of Rs. 37.93 Mn is primarily arising due to change in wage definition. <br /> 8. The Parent, vide its board resolution dated April 23, 2026, had approved the Scheme of Amalgamation of certain wholly owned subsidiaries i.e., AeroStructures Manufacturing India Private Limited, Aequs Engineered Plastics Private Limited and Aequs Force Consumer Products Private Limited with itself. Subsequently, the Office of the Regional Director, South Western Region, Ministry of Corporate Affairs, Government of India, vide its order dated October 12, 2026, rejected the proposed Scheme of Amalgamation. <br /> The Group is evaluating the available course of actions in this regard. As the proposed amalgamation forms part of an internal restructuring exercise involving the parent company and its wholly owned subsidiaries, the rejection of the scheme does not have any material impact on the business operations of the Group. <br /> 9. On September 25, 2026, the Board of Directors of the Company approved a preferential issue of up to 28,071,690 warrants to Melligeri Private Family Foundation, one of the Promoters, for an aggregate consideration of INR 6,500 million, subject to receipt of requisite regulatory approvals. The proposal was subsequently approved by shareholders at the Extraordinary General Meeting held on October 22, 2026. The warrants are convertible into an equivalent number of equity shares and are proposed to be converted on or before December 31, 2027. <br /> 10. The Group's Chief Operating Decision Maker (CODM) is identified to be the Executive Chairman and Chief Executive Officer of the Parent, who plans the allocation of resources and assess the performance of the segments. The Group has two reportable segments 'Aerospace' and 'Consumer' to be reported in this consolidated financial results. All expenses which are not attributable or allocable to segments or are non-recurring in nature have been disclosed as unallocable expenses. <br /> 11. The consolidated financial results for quarter and six months ended September 30, 2026, are available on the BSE Limited website (URL: www.bseindia.com), the National Stock Exchange of India Limited website (URL: www.nseindia.com) and on the Company's website (URL: www.aequs.com/investors/). <br /> 2026-04-012026-09-30UnauditedConsolidated8046240000173350000821959000035197800000-213490000144780000039449000091874000030059600009073280000-8536900000-85369000024603000016500002476800000-1101370000-19600000-196000047130000-105620000018630000-1037570000-10562000000186300000670666000010-1.61-1.6100-1.61-1.61Impairment (reversals)/ losses on financial assets-510000Other expenses1573960000Impairment (reversals)/ losses on financial assets-880000Other expenses3006840000797219000012356000000172910000608800000011739300009900000079900000079999000033612000001477670000068318100000298749000017097000002888400000238000000522403000090678000012962620000400000277393600006706660000722404000013930700000-9390000139213100002808940000000473400002856280000000239211000052483900002802960000714900003754990000382648000048934000071187800001143860000030702000008569660000001381805000027739360000Other financial assets799000000Contract assets133950000Deferred tax assets (net)315760000Current tax assets17070000Other non-current assets480040000Right of use assets2414380000Other financial assets238000000Contract assets99610000Other current assets807170000Other financial liabilities47340000Lease liabilities2032340000Provision for employee benefits263890000Other non-current liabilities26800000Contract liabilities69080000Other financial liabilities489340000Lease liabilities719980000Provision for employee benefits89550000Other current liabilities201770000Contract liabilities132560000Aerospace3514110000Consumer576680000Aerospace6735700000Consumer1310540000409079000080462400000040907900008046240000Aerospace592160000Consumer-675660000Aerospace1141840000Consumer-1309600000-83500000-167760000-205980000-3944900005309900001033290000-408510000-806560000Aerospace15000890000Consumer124779500002747884000026052000027739360000Aerospace5582250000Consumer80010900001358334000023471000013818050000381310000-1066910000-4205100000-2370000000-1755000005732200000-2158600000918740000-880000795300000641500000499800000735300003916000000-13950000-1960000-984200000172820000-6808700000001274400000-808310000000009300000000513500001648330000000000000073600000000000735300000112650000-1496440000000000162900000237286000035729000025991000004030000000-380240000988710000-131604000010840000-130520000030149000001709700000Exchange differences on translating financial results of foreign operations-10940000Remeasurements of post-employment benefit obligations, net of tax2900000-8040000Exchange differences on translating financial results of foreign operations15730000Remeasurements of post-employment benefit obligations, net of tax29000001863000000-804000018630000