Aerpace Industries Ltd (534733)
Q2 FY27 results
📅 Next results: 19 Oct 2026 (board meeting)Aerpace Industries Ltd's board meets on 19 Oct 2026 to consider its Q2 FY27 results (July-September 2026).
In its latest reported quarter, Q1 FY27, Aerpace Industries' revenue was ₹0.0 Cr, and net profit ₹-4.2 Cr (a bigger loss than a year earlier).
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹0.0 | — | — |
| Operating profit | ₹-3.0 | loss widened | loss narrowed |
| Net profit | ₹-4.2 | loss widened | loss narrowed |
| EPS (₹) | -0.27 | loss widened | loss narrowed |
📢 Recent Corporate Announcements
Aerpace Industries has allotted 1,50,00,000 convertible warrants at an issue price of ₹32.55 per warrant on a preferential basis to N.K. Family Private Trust (promoter group). The total fundraise aggregates up to ₹48.83 crore, representing ~8.2% of its current market cap of ₹595 crore and exceeding its current net worth of ₹42 crore. The company has received 25% upfront application money amounting to ₹12.21 crore. This capital infusion supports the company's ongoing pivot toward aerospace technology and R&D development.
- Allotted 1,50,00,000 convertible warrants at ₹32.55 per warrant
- Total transaction size aggregates to ₹48,82,50,000 (₹48.83 crore)
- Received initial subscription money of ₹12,20,62,500 (25% upfront)
- Allotment made on a preferential basis to promoter group entity N.K. Family Private Trust
Aerpace Industries appointed former Defence Secretary Mr. Giridhar Aramane as an Additional Non-Executive Director and retired Air Vice Marshal Rajesh Bhandari to its Advisory Board, effective September 24, 2026. Concurrently, Non-Executive Director Mr. Milan Bhupendra Shah resigned due to pre-occupation. The induction of senior defence administration veterans aligns with the company's stated pivot from steel into aerospace technologies, an ambitious shift given its TTM revenue of just ₹1 Cr and net losses of ₹18 Cr.
- Former Defence Secretary of India (2022–2024) Mr. Giridhar Aramane appointed as Additional Non-Executive Director effective September 24, 2026
- Air Vice Marshal Rajesh Bhandari VSM (Retd.) appointed as Member of the Advisory Board effective September 24, 2026
- Non-Executive Director Milan Bhupendra Shah resigned citing pre-occupation, effective close of business hours on September 24, 2026
- Neither appointee holds any equity shares in the company as of the appointment date
Aerpace Industries appointed former Defence Secretary Mr. Giridhar Aramane as an Additional Non-Executive Director and retired Air Vice Marshal Rajesh Bhandari to its Advisory Board, effective September 24, 2026. Concurrently, Non-Executive Director Mr. Milan Bhupendra Shah resigned due to pre-occupation. The induction of senior defence administration veterans aligns with the company's stated pivot from steel into aerospace technologies, an ambitious shift given its TTM revenue of just ₹1 Cr and net losses of ₹18 Cr.
- Former Defence Secretary of India (2022–2024) Mr. Giridhar Aramane appointed as Additional Non-Executive Director effective September 24, 2026
- Air Vice Marshal Rajesh Bhandari VSM (Retd.) appointed as Member of the Advisory Board effective September 24, 2026
- Non-Executive Director Milan Bhupendra Shah resigned citing pre-occupation, effective close of business hours on September 24, 2026
- Neither appointee holds any equity shares in the company as of the appointment date
Aerpace Industries reported a consolidated net loss of ₹8.15 crore for the quarter ended June 30, 2026, compared to a loss of ₹8.93 crore in the preceding quarter. Total income remains minimal at ₹28.35 lakhs, as the company is in a development phase pivoting from steel to aerospace technology. Expenses surged to ₹8.45 crore, primarily driven by ₹5.48 crore in other expenses and ₹1.73 crore in employee costs. The company capitalized ₹0.45 crore into Capital Work-in-Progress (CWIP) for machinery imports, indicating ongoing infrastructure setup.
- Consolidated Net Loss of ₹8.15 crore for Q1 FY27, reflecting high R&D and operational burn.
- Total income stood at only ₹28.35 lakhs, highlighting the pre-revenue nature of the aerospace pivot.
- Capitalized ₹0.45 crore in machinery costs under Capital Work-in-Progress (CWIP) during the quarter.
- Recognized ₹89.36 lakhs as employee compensation expense related to Restricted Stock Units (RSUs).
- Consolidated results now include Aerpace General Trading LLC (Dubai), a 75% subsidiary incorporated in May 2024.
Aerpace Industries reported a consolidated net loss of Rs 3.41 Cr for the quarter ended June 30, 2026, on a total income of just Rs 0.28 Cr. The company continues its transition from steel to aerospace technology, capitalising Rs 0.45 Cr in machinery imports as Capital Work-in-Progress (CWIP). Employee expenses for the quarter included a non-cash charge of Rs 89.36 lakhs related to Restricted Stock Units (RSUs). The company also appointed a new secretarial auditor for a five-year term starting FY2026-27.
- Consolidated net loss of Rs 3.41 Cr for Q1 FY27 compared to a loss of Rs 6.69 Cr in the preceding quarter.
- Total income remains minimal at Rs 0.28 Cr, reflecting the pre-commercialization stage of the aerospace pivot.
- Capitalized Rs 0.45 Cr towards machinery imports, adding to the existing infrastructure setup.
- Recognized Rs 89.36 lakhs as employee compensation expense under the RSU scheme.
- Appointed M/s. Dipti Nagori & Associates as Secretarial Auditors for a 5-year term ending FY2030-31.
Aerpace Industries has scheduled a board meeting on August 11, 2026, to approve its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The company is currently in a critical transition phase from steel products to aerospace technology, reporting a TTM revenue of only ₹2 Cr against a market cap of ₹498 Cr. Investors will be looking for updates on the commercialization of ₹20.24 Cr worth of intangible assets under development. The trading window for designated persons has been closed since July 1, 2026.
- Board meeting scheduled for August 11, 2026, to approve Q1 FY27 results
- Trading window closed from July 1, 2026, until 48 hours after the result declaration
- Company is managing ₹20.24 Cr in intangible assets under development as of recent filings
- TTM revenue stands at ₹2 Cr with a significant operating loss margin of -505.1%
Aerpace Industries has announced a major leadership and advisory board expansion to support its pivot into the aerospace sector. Mr. Anand M. Shah, previously CFO, has been elevated to Managing Director, bringing 30 years of corporate finance experience. Most notably, the company has added Mr. Rajnish Kumar (former Chairman of State Bank of India) and Mr. Nikunj Kampani (25 years in tech/aerospace) to its Advisory Board. Additionally, Mrs. Anshu Shukla Pandey, a former Principal Commissioner of Income Tax with 31 years of experience, joins as a Non-Executive Independent Director to strengthen governance.
- Appointment of Mr. Anand M. Shah as Managing Director with 30 years of leadership experience in corporate finance.
- Addition of former SBI Chairman Mr. Rajnish Kumar to the Advisory Board to provide strategic guidance on infrastructure and technology.
- Appointment of Mrs. Anshu Shukla Pandey (31 years in IRS) as Non-Executive Independent Director to enhance compliance and governance.
- Mr. Nikunj Kampani joins the Advisory Board with 25 years of experience across robotics, aerospace, and telecommunications.
- The company is currently managing Rs 20.24 Cr in intangible assets under development as it pivots from steel to aerospace.
Aerpace Industries has approved a preferential issuance of 1,50,00,000 convertible warrants to the promoter group (NK Family Private Trust) at ‡32.55 per warrant, totaling ‡48.83 crore. The company is significantly strengthening its strategic oversight by appointing former SBI Chairman Rajnish Kumar and technology entrepreneur Nikunj Kampani as Advisors to the Board. Additionally, Ms. Anshu Shukla Pandey, a former IRS officer with 31 years of experience, has been appointed as an Independent Director. The board has also granted in-principle approval for further debt fundraising from banks and financial institutions.
- Issuance of 1,50,00,000 convertible warrants at ‡32.55 each, aggregating to ‡48,82,50,000
- Promoter group entity NK Family Private Trust to increase stake from 0.01% to 8.89% upon full conversion
- Appointment of former SBI Chairman Rajnish Kumar as Advisor to the Board effective July 10, 2026
- Warrant holders to pay 25% of the issue price upfront, with the remaining 75% due within 18 months
- Appointment of Ms. Anshu Shukla Pandey as Independent Director for a 5-year term
Aerpace Industries has approved a preferential issue of 1.5 crore convertible warrants to a promoter group entity (NK Family Private Trust) at ₹32.55 per warrant, totaling ₹48.83 crore. Simultaneously, the board approved a new ₹70 crore credit facility from Punjab National Bank to meet working capital and business requirements. To strengthen governance and strategy, the company has appointed former SBI Chairman Rajnish Kumar and tech entrepreneur Nikunj Kampani as advisors to the board. These moves represent a significant capital infusion and institutional scaling effort.
- Issuance of 1,50,00,000 convertible warrants at a price of ₹32.55 per warrant
- Total fundraise of ₹48,82,50,000 from the promoter group entity NK Family Private Trust
- Approval for a ₹70,00,00,000 credit facility from Punjab National Bank for business requirements
- Promoter group entity stake to increase from 0.01% to 8.89% upon full warrant conversion
- Appointment of former SBI Chairman Rajnish Kumar as an Advisor to the Board
Financial Performance
Revenue Growth by Segment
Revenue from operations remained at INR 0.00 for both FY25 and FY24, indicating the company is in a pre-revenue or development stage. Total income, primarily from interest and other sources, grew 80.9% from INR 32.85 lakhs to INR 59.44 lakhs.
Geographic Revenue Split
Not disclosed in available documents; however, the company and its subsidiary are incorporated in India with operations based in Mumbai.
Profitability Margins
Profitability is currently negative as the company is in a development phase. Net loss widened by 301.9% from INR 183.98 lakhs in FY24 to INR 739.43 lakhs in FY25 due to increased operational and development expenses.
EBITDA Margin
EBITDA is negative due to zero operating revenue and total expenses of INR 811.06 lakhs in FY25, which increased 285.4% YoY from INR 210.45 lakhs.
Capital Expenditure
The company undertook significant capital expenditure of INR 1,691.70 lakhs for Property, Plant and Equipment and Capital Work in Progress (CWIP) in FY25. Additionally, Intangible Assets under Development reached INR 2,024.05 lakhs.
Credit Rating & Borrowing
Credit rating is not disclosed. Current borrowings stood at INR 1,259.65 lakhs as of March 31, 2025, with finance costs increasing from INR 12.98 lakhs to INR 41.04 lakhs YoY.
Operational Drivers
Raw Materials
Not disclosed as the company is currently in a pre-revenue development stage with zero cost of materials consumed reported for FY25.
Capacity Expansion
The company has significant Capital Work in Progress (CWIP) of INR 1,631.82 lakhs as of March 31, 2025, compared to just INR 7.93 lakhs in FY24, indicating massive infrastructure setup for future operations.
Raw Material Costs
Raw material costs were INR 0.00 in FY25, representing 0% of revenue, as the company has not yet commenced commercial production.
Manufacturing Efficiency
Not applicable as the company is in the development phase with zero revenue from operations.
Strategic Growth
Growth Strategy
The company is pivoting its business model (formerly Supremex Shine Steels Limited) toward aerospace and technology. Growth is being pursued through a massive rights issue of INR 4,254.30 lakhs to fund the development of internally generated intangible assets (INR 2,024.05 lakhs) and infrastructure (CWIP INR 1,631.82 lakhs).
Products & Services
Aerospace technology solutions and internally generated intangible assets currently under development.
Brand Portfolio
Aerpace
New Products/Services
New aerospace-related technology projects are currently in the development phase, with capitalization based on technical feasibility and future economic benefit criteria.
External Factors
Industry Trends
The industry is shifting toward advanced aerospace technology and internally developed intellectual property. The company is positioning itself by investing heavily in R&D and infrastructure setup.
Competitive Landscape
Key competitors are not named, but the company operates in the high-tech aerospace development sector.
Competitive Moat
The company's potential moat lies in its internally generated intangible assets and technical feasibility of aerospace projects, though these are currently in the development stage and subject to impairment risks.
Consumer Behavior
Not applicable as the company is in a B2B/technology development phase.
Regulatory & Governance
Industry Regulations
Operations are governed by Ind AS 38 for intangible assets and the Companies Act, 2013. The company maintains an audit trail (edit log) facility in its accounting software as per regulatory requirements.
Taxation Policy Impact
The company recorded a deferred tax credit of INR 12.11 lakhs in FY25, aiding in reducing the net loss for the year.
Risk Analysis
Key Uncertainties
The primary uncertainty is the successful completion and commercialization of intangible assets under development (INR 2,024.05 lakhs). Any failure in technical feasibility could result in a 100% impairment of these assets.
Geographic Concentration Risk
Operations and assets are concentrated in India, specifically Mumbai.
Technology Obsolescence Risk
High risk due to the nature of aerospace technology development; the company must ensure its R&D remains competitive during the long development cycle.
Credit & Counterparty Risk
Trade receivables decreased from INR 75.76 lakhs to INR 0.00, indicating minimal current credit exposure to customers.
