Aeroflex Industries Ltd

Key investment highlights

• Total capex outlay of Rs 202 crore to fund capacity expansion.
• Expansion covers SS Hose & Braiding, Hose Assemblies, and Liquid Cooling Skid Assemblies.
• SS Hose & Braiding capacity to 30 million metres per annum from 20.
• Liquid Cooling Skid Assemblies capacity to 30,000 pieces per annum.
• Funding through equity, bridge loan, and internal accruals; phased rollout by March 2028.
• Expansion includes brownfield work at Taloja and a new Hose Assemblies facility.
• Projected incremental revenue at peak capacity: Rs 500-550 crore.

Timeline

• Expansion to be completed by March 2028.

Capacity expansion and investment

• Board notes SS Hose & Braiding capacity raised to 20 million meters per year.
• Liquid cooling SFN Skid Assemblies capacity up to 12,000 pieces per year; 3,000 more by December 2026.
• SS Hose & Braiding expansion to 30 million meters per year, up from 20 million.
• New Assemblies Plant to convert 70–75% of hoses and braid into assemblies.
• Total investment estimated at ₹202 crores, funded by internal accruals, equity and bridge loan.
• Projects to be completed in phased manner by March 2028.

Aeroflex Industries Ltd — Trading Window closed from Oct 1, 2026 until 48 hours after the declaration of Un-audited Financial Results for the quarter and half year ended September 30, 2026.

Meeting Details

• Date and time: 23 September 2026, 09:00–10:00 IST, in Mumbai.
• Type: Group meeting, physical; organized by Nomura India Power, Data Centers & AI Infrastructure Tour 2026.

Participants

• Company officials will attend the investor conference.
• Key participant: Company Secretary & Compliance Officer.

Purpose

• Investor conference discussion; references publicly available documents; no UPSI discussed.

Meeting Details

• 21 September 2026, 10:00 am onwards.
• 1x1/Group Meeting, physical (Mumbai).
• Organised by Anand Rathi Annual Flagship Conference, G-200 Summit 2026.
• Key participants: company officials (roles not specified).
• Purpose: investor conference participation and discussions.
• Notes: discussions will reference publicly available documents; UPSI not intended.

Meeting Details

• Date: September 10, 2026, 09:00 IST onwards
• Type/Mode: 1x1 and group meetings; Location: Mumbai
• Organised by: Axis Capital Consumer & Tech Conference

Participants

• Key company participant: Company Secretary & Compliance Officer

Purpose

• Purpose: Interaction with investors and analysts
• Publicly available documents will be referred during discussions

Additional Notes

• No UPSI expected to be discussed

Meeting Details

• Date and time: August 19, 2026, 10:00 AM IST onwards
• Type/Mode: 1x1 and group meeting, virtual
• Organised by: Axis Capital's India Corporate Day 2026
• Location: Singapore

Participants

• Key participants: company officials (management)

Purpose

• Purpose: investor/analyst interaction during Axis Capital India Corporate Day 2026

Meeting Details

• Date and time: August 18, 2026, 10:00 AM IST onwards.
• Type of interaction: 1x1 and group meetings; mode: physical in Mumbai.
• Organised by: Motilal Oswal 22nd Annual Global Investor Conference.
• Location: Mumbai.

Participants

• Key company participants: management officials, including Company Secretary & Compliance Officer.

Purpose

• Purpose: investor and analyst interactions during the conference.

Additional Notes

• Public documents will be referred to during discussions.
• No UPSI is intended to be discussed.

Financial Performance

• Q1 FY27 consolidated revenue was INR 145.97 crores, up 72.4% YoY.
• EBITDA was INR 33.5 crores; margin 23.04%, up 116% YoY, 468 bps expansion.
• PAT was INR 18.79 crores; PAT margin ~13% (440 bps higher).
• Cash profit INR 26.64 crores; cash profit margin 18.25%.
• Exports grew 43% YoY; domestic demand driven by liquid cooling skid assemblies.

Operating Update

• Skid assemblies capacity expanded to 9,000 units per annum; plan to reach 15,000 by start of Q3.
• Flexible hoses capacity to 20 million meters per annum; completion by Q3 FY27.
• Fire hose assemblies for data centres nearing commercialization; commercialized end of this quarter or start of next.
• Hyd-Air revenue last quarter INR 7 crores; metal bellows INR 3 crores; uptick expected.
• Margins in flexible hose form 16-20%; assemblies 22-26%.
• Q1 revenue mix: ~63% fittings/assembly; ~37% flexible hose.
• SFN skid revenue in Q1: INR 32.4 crores; volume 1,040.
• West Asia logistics costs rose; impacted Q1.
• Q2 margins expected around 23%.
• 15,000 skid capacity expected by Oct–Nov; exact month uncertain.
• Q4 exit run-rate guidance: ~750 skids per month; remains intact.
• FY28 target: 80% utilization for the expanded capacity.

Capex and Projects

• Capex for skid capacity expansion INR 48 crores.
• Capex for flexible hoses expansion INR 54 crores; remaining in FY27.
• Some expenditure incurred in FY25/26; remaining to complete in FY27.
• Some skid equipment reusable for bellows and other flow-control applications.

Outlook and Guidance

• 15,000 skid capacity available by start of Q3.
• FY28 target: 80% utilization for the expanded capacity.
• Target EBITDA margin of 25% over the next few years.
• Fire hose commercialization timeline and international orders remain in progress.

Q&A Highlights

• Q3 timing for 15,000 skid capacity due Oct–Nov; month uncertain.
• International skid opportunities exist; designs vary; some orders expected in Europe/USA.
• Skid margins are blended with company-wide margins; exact numbers not disclosed.
• SFN skid value in Q1 was INR 32.4 crores; volume 1,040.
• Hyd-Air components used for hose assemblies; not supplied to third parties.