Aequs Q2 FY27: Revenue Rises 45%, Loss Widens to ₹52 Crore

Aequs, (

) a precision manufacturing company with a strong presence in aerospace and consumer businesses, reported robust revenue growth in Q2 FY27. However, a sharp decline in operating profitability and widening losses have raised concerns about the quality and sustainability of its growth. Key Q2 FY27 Highlights - Revenue from operations: ₹409.1 crore, up 45.3% YoY. - Consolidated net loss: ₹52.4 crore versus ₹20.6 crore in Q2 FY26. - EBITDA: ₹24.5 crore, down approximately 45% YoY. - EBITDA margin: 6%, compared with 16% a year ago. - Aerospace revenue: ₹351.4 crore, up 44.2% YoY. - Consumer business revenue: ₹57.7 crore, up 52% YoY. Why Are Investors Worried? The key concern is that revenue growth is not translating into stronger profitability. Operating costs have risen sharply, while the company's consumer business continues to face ramp-up expenses and delays in reaching breakeven. Although aerospace remains the core growth engine, the decline in consolidated EBITDA and the widening net loss indicate that improving operational efficiency remains a challenge. My View Aequs presents an interesting long-term opportunity in precision manufacturing and aerospace, supported by business expansion and a sizeable aerospace order book. However, investors should not evaluate the company solely on revenue growth. The immediate priority is to improve margins, control costs and demonstrate a credible path towards sustainable profitability. I would closely monitor consumer-segment losses, capacity utilisation, operating cash flow and the pace of margin recovery over the coming quarters. For investors, this is a reminder that strong topline growth does not automatically translate into shareholder value. Until profitability improves consistently, execution risk remains an important factor in assessing the stock.