Aeroflex Enterprises Limited (AEROENTER)
₹127.87 +1.49% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Aeroflex Enterprises' revenue was ₹189 Cr (+40.5% year on year, -5.3% on the previous quarter), and net profit ₹103 Cr (+614.2% year on year); the operating margin was 9.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹189 | +40.5% | -5.3% |
| Operating profit | ₹17.0 | +49.4% | -52.6% |
| Net profit | ₹103 | +614.2% | +301.3% |
| EPS (₹) | 8.54 | — | +302.8% |
| Operating margin | 9.0% | — | — |
AEROENTER delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 42.69% of the AEROENTER shares traded on NSE were taken to delivery, against the stock's own 20-session average of 41.96%. That is close to its usual level.
Delivery in the last 5 sessions: 19.9% · 48.0% · 28.6% · 48.7% · 42.7%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Aeroflex Enterprises' material subsidiary, Aeroflex Neu Limited, has approved the acquisition of a 51.01% majority stake in Stilonn Valves and Controls Private Limited for an aggregate consideration of ₹16,00,21,504. The transaction involves purchasing 7,27,040 equity shares via existing share purchases and fresh subscription. Stilonn operates in precision engineering, manufacturing valves and sanitary fittings targeted at AI infrastructure, data centers, pharma, and healthcare sectors. The deal represents roughly 2.1% of Aeroflex Enterprises' TTM revenue of ₹752 Cr.
- Board approved acquisition of 7,27,040 equity shares of Stilonn Valves and Controls
- Aggregate consideration payable is ₹16,00,21,504 (~₹16.00 Cr)
- Aeroflex Neu will hold 51.01% post-deal, making Stilonn a step-down subsidiary
- Target manufactures precision engineering products catering to AI Infra, Data Centers, and Pharma
Aeroflex Enterprises announced that its material subsidiary, Aeroflex Industries Limited, has approved a ₹202 crore capacity expansion to be completed by March 2028. The board approved expanding SS Hose & Braiding capacity from 20M to 30M meters per annum and setting up a new assemblies plant for ₹124 crore, alongside doubling Liquid Cooling SFN Skid capacity from 15,000 to 30,000 pieces per annum for ₹78 crore. Additionally, the subsidiary noted the completion of previous enhancements reaching 20M meters in hoses and 12,000 pieces in skid assemblies (remaining 3,000 pieces due by December 2026). The total planned capex of ₹202 crore represents ~27% of Aeroflex Enterprises' TTM consolidated revenue of ₹752 crore.
- Approved ₹202 crore total capex to be funded via internal accruals, equity, and bridge loan financing.
- SS Hose & Braiding capacity expanding from 20M to 30M meters/year plus a new plant to convert 70%–75% into assemblies (₹124 crore outlay by March 2028).
- Liquid Cooling SFN Skid Assemblies expanding from 15,000 to 30,000 pieces/year with a new facility (₹78 crore outlay by March 2028).
- Completed SS Hose capacity ramp-up to 20M meters/year and Liquid Cooling Skid capacity to 12,000 pieces/year (balance 3,000 pieces expected by December 2026).
Aeroflex Enterprises Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was provided by the company's Registrar and Share Transfer Agent, MUFG Intime India Private Limited. The RTA confirmed that no requests for dematerialisation were received from shareholders during the quarter ended September 30, 2026. This is a standard quarterly administrative filing with no financial or operational impact.
- Compliance certificate submitted under Regulation 74(5) of SEBI Regulations, 2018
- Covers the quarter ended September 30, 2026
- Issued by RTA MUFG Intime India Private Limited dated October 06, 2026
- Confirmed zero requests received from shareholders for dematerialisation during the quarter
Aeroflex Enterprises Limited announced the voting results and scrutinizer's report for its 41st Annual General Meeting held on September 08, 2026. A total of 7,28,75,831 votes were polled (representing 64.40% of total outstanding shares), with ordinary and special resolutions receiving nearly 100% approval. Key approved resolutions include the adoption of FY26 financial statements, declaration of a final dividend, alteration of the Object Clause of the Memorandum of Association, and an increase in limits under Section 186 of the Companies Act, 2013.
- Total voter turnout stood at 64.40% with 7,28,75,831 votes polled out of 11,31,64,200 total shares
- Promoter group polled 100% of their 5,91,82,500 shares entirely in favour across all resolutions
- Special resolution to increase investment/loan limits under Section 186 approved with 7,28,74,416 votes in favour (100%)
- Resolution to alter the Object Clause of the Memorandum of Association passed with 7,28,74,435 votes in favour (100%)
Aeroflex Enterprises Limited announced that shareholders approved the re-appointment of Mrs. Uma Manoj Mandavgane as Non-Executive Independent Woman Director at the 41st AGM held on September 08, 2026. The re-appointment is for a second term of 5 consecutive years, effective from May 31, 2027 to May 30, 2032. Mandavgane has served on the board since May 31, 2024, and brings over three decades of risk advisory and corporate finance experience.
- Shareholder approval granted at the 41st AGM held on September 08, 2026 via Special Resolution
- Re-appointed for a 5-year second term running from May 31, 2027 to May 30, 2032
- Incumbent Independent Director since May 31, 2024 with over 30 years of corporate finance and risk advisory experience
- Confirmed not related to any Director and not debarred by SEBI or other authorities
Aeroflex Enterprises Limited concluded its 41st Annual General Meeting held on September 08, 2026, through video conferencing. Shareholders approved all agenda items, including the adoption of FY26 financial statements, declaration of a final dividend, and the re-appointment of directors. Special resolutions were also passed to alter the Object Clause of the Memorandum of Association and to increase limits under Section 186 of the Companies Act, 2013 for loans and investments. A total of 49 members attended the virtual meeting.
- 41st Annual General Meeting held on September 08, 2026, from 11:00 A.M. to 11:48 A.M. IST
- Total of 49 members attended through VC/OAVM (2 promoter group, 47 public)
- Remote e-voting was active from September 04, 2026, to September 07, 2026, based on cut-off date September 01, 2026
- Special resolutions approved to alter the MOA Object Clause and increase Section 186 investment/loan limits
Aeroflex Enterprises Limited has notified the exchanges regarding the closure of its Register of Members and Share Transfer Books from September 02, 2026, to September 08, 2026 (both days inclusive). The book closure is scheduled for the purpose of conducting the company's 41st Annual General Meeting. This filing is a standard compliance requirement under Regulation 42 of SEBI LODR Regulations and Section 91 of the Companies Act, 2013. There is no operational or financial impact from this administrative filing.
- Register of Members and Share Transfer Books to remain closed from September 02, 2026, to September 08, 2026.
- Book closure conducted for the purpose of the 41st Annual General Meeting.
- Compliance submission under Regulation 42 of SEBI LODR Regulations and Section 91 of Companies Act, 2013.
Aeroflex Enterprises Limited has notified the exchanges regarding the closure of its Register of Members and Share Transfer Books from September 2, 2026, to September 8, 2026 (both days inclusive). The book closure is scheduled for the purpose of conducting the company's 41st Annual General Meeting (AGM). This is a standard statutory notification under SEBI LODR Regulation 42 with no direct impact on business operations or earnings.
- Book closure dates fixed from September 02, 2026, to September 08, 2026 (both days inclusive)
- Closure intended for the company's 41st Annual General Meeting
- Filing submitted under Regulation 42 of SEBI LODR Regulations, 2015
Aeroflex Enterprises Limited has fixed September 01, 2026, as the record date for determining shareholder eligibility for its final dividend of Re. 0.40 per equity share (face value Rs. 2) for FY26. The dividend was previously recommended by the Board on May 13, 2026, and is subject to shareholder approval at the upcoming Annual General Meeting. If approved, the payout will be completed on or before October 07, 2026.
- Record date fixed as Tuesday, September 01, 2026, for FY26 final dividend eligibility
- Final dividend declared at Re. 0.40 per equity share of face value Rs. 2/- (20% of face value)
- Payment to be disbursed on or before October 07, 2026, subject to AGM approval
- Board originally recommended the payout at its meeting on May 13, 2026
Aeroflex Enterprises Limited has issued the notice for its 41st Annual General Meeting scheduled for September 08, 2026, via video conferencing. Key ordinary agenda items include the declaration of a final dividend of Re. 0.40 per equity share (20% on face value of Rs 2) for FY26 and the adoption of audited financial statements. The company also seeks shareholder approval to alter its Memorandum of Association (MoA) to enable new business activities in data centres and hospitality. Remote e-voting is scheduled from September 04 to September 07, 2026, with the record cut-off date set as September 01, 2026.
- 41st AGM scheduled for Tuesday, September 08, 2026, at 11:00 AM IST via VC/OAVM
- Final dividend of Re. 0.40 per equity share (20% on face value of Rs 2) proposed for FY26
- Remote e-voting window open from September 04, 2026 (9:00 AM) to September 07, 2026 (5:00 PM)
- Cut-off date for e-voting eligibility fixed as September 01, 2026; book closure from September 02 to 08, 2026
- Proposed MoA alteration to add business objects for data centres (Clause 2M) and hospitality/resorts (Clause 2N)
Aeroflex Enterprises (AEL) reported a significant surge in Q1 FY27 consolidated performance, with PAT reaching ₹103.22 Cr, up 615.76% YoY. This growth was primarily driven by the strategic exit from M.R. Organisation (MRO), where AEL sold its 68% stake to Ingersoll-Rand for ₹227.42 Cr, achieving a ~107% XIRR. The company continues its 'incubator' model, recently acquiring a 19.58% stake in Stilonn Valves and Controls to expand its engineering ecosystem. The NBFC arm, Aeroflex Finance, maintains a loan book of ₹44.77 Cr with 0% NNPA as of FY26 end.
- Completed sale of 68% stake in MRO to Ingersoll-Rand for ₹227.42 Cr on April 30, 2026, yielding a ~3x multiple.
- Consolidated Total Income for Q1 FY27 rose 134.55% YoY to ₹333.16 Cr.
- Consolidated PAT for the quarter stood at ₹103.22 Cr, a 615.76% increase compared to Q1 FY26.
- Acquired 19.58% stake in Stilonn Valves and Controls on May 22, 2026, to strengthen the engineering portfolio.
- Aeroflex Finance (NBFC) reported 44,083 unique borrowers and a net interest margin of 25.90% for FY26.
Aeroflex Enterprises reported a massive surge in consolidated PAT to ₹103.22 Cr for Q1 FY27, compared to ₹14.42 Cr in Q1 FY26, primarily driven by the divestment of its subsidiary M.R. Organisation Limited. Operational performance was strong with consolidated revenue growing 40.5% YoY to ₹188.99 Cr, led by the Flexible Flow Solution segment. Standalone 'Other Income' of ₹154.01 Cr reflects the one-time gain from the stake sale completed on April 30, 2026. While the bottom line is inflated by this one-off event, the core business shows robust top-line momentum.
- Consolidated Revenue from operations grew 40.5% YoY to ₹188.99 Cr from ₹134.48 Cr.
- Consolidated PAT surged to ₹103.22 Cr, a significant jump from ₹14.42 Cr in the previous year's quarter.
- Flexible Flow Solution segment contributed ₹144.49 Cr to revenue, accounting for ~76% of total turnover.
- Standalone Other Income stood at ₹154.01 Cr, primarily representing the gain from divesting M.R. Organisation Limited.
- The divestment of the entire stake in M.R. Organisation Limited was effective from April 30, 2026.
Aeroflex Enterprises Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The company's Registrar and Share Transfer Agent, MUFG Intime India Private Limited, confirmed that no requests for dematerialization were received from shareholders during the quarter ended June 30, 2026. This is a standard procedural filing required to maintain the integrity of the share register. The company currently has a market capitalization of Rs 3,717 Cr and reported a TTM revenue of Rs 525 Cr.
- Zero requests for dematerialization were received from shareholders for the quarter ended June 30, 2026
- Compliance certificate issued by MUFG Intime India Private Limited (formerly Link Intime India Private Limited)
- The filing confirms adherence to SEBI timelines for processing security certificates if any had been received
- Company maintains a TTM PAT of Rs 65 Cr and an Operating Profit Margin of 15.0%
Aeroflex Enterprises has approved the re-appointment of Mrs. Uma Mandavgane as an Independent Director for a second five-year term effective from May 2027 to May 2032. The company also strengthened its leadership by promoting Mr. Taikhum Bandookwala and Ms. Bronika Doshi to Senior Management Personnel roles. These executives will lead strategic initiatives, M&A, and corporate strategy, indicating a focus on long-term growth and capital allocation. The re-appointment of the director remains subject to shareholder approval at the upcoming Annual General Meeting.
- Re-appointment of Mrs. Uma Mandavgane as Independent Director for a 5-year term starting May 31, 2027
- Promotion of Mr. Taikhum Bandookwala to AVP - Strategic Initiatives to lead M&A and investor relations
- Elevation of Ms. Bronika Doshi to AVP - Corporate Strategy, leveraging over 6 years of experience in capital allocation
- The board meeting was conducted on June 26, 2026, lasting approximately 72 minutes
Aeroflex Enterprises Limited has approved the allotment of 79,200 equity shares to employees under the SAT Industries Limited Employee Stock Option Plan 2024. The shares were issued at an exercise price of Rs. 42.50 per share, resulting in a total capital realization of Rs. 33.66 lakhs. This allotment increases the company's total paid-up share capital to 11,31,64,200 equity shares. The standalone diluted earnings per share (EPS) following this issue is reported at Rs. 0.97.
- Allotment of 79,200 equity shares of face value Rs. 2 each upon exercise of ESOPs.
- Exercise price fixed at Rs. 42.50 per share, including a premium of Rs. 40.50.
- Total money realized by the company from this exercise is Rs. 33,66,000.
- Total paid-up share capital increased from Rs. 22,61,70,000 to Rs. 22,63,28,400.
- Standalone diluted earnings per share (EPS) stands at Rs. 0.97.
Financial Performance
Revenue Growth by Segment
Consolidated revenue grew 15.56% YoY to INR 578.54 Cr in FY25. Segment performance for H1 FY26 shows Aeroflex Industries at INR 195.21 Cr (+4.90% YoY), M.R. Organisation at INR 48.02 Cr (+27.45% YoY), and Aeroflex Neu at INR 64.22 Cr. Standalone revenue for FY25 was INR 21.92 Cr, a 93.49% decrease from INR 336.93 Cr in FY24 due to the high base effect of the Aeroflex Industries IPO stake sale.
Geographic Revenue Split
The Innovative Packaging segment (Aeroflex Neu) derives 53% of its revenue from exports and 47% from the domestic market, covering 14 states and 1 UT in India.
Profitability Margins
Consolidated PAT margin compressed from 35% in FY24 to 13% in FY25. Standalone Net Profit Ratio decreased from 68.28% to 46.82% YoY. The decline is primarily attributed to the absence of the one-time gain from the Aeroflex Industries IPO stake sale recorded in the previous year.
EBITDA Margin
Consolidated EBITDA margin was 21% in FY25 compared to 45% in FY24. Aeroflex Industries maintained a strong Q2 FY26 EBITDA margin of 23.47% (up 136 bps YoY), while M.R. Organisation's H1 FY26 EBITDA margin was 23.10% (down 1099 bps YoY) due to increased material and employee costs.
Capital Expenditure
The company is executing major capacity enhancements in stainless steel flexible hoses, metal bellows, and composite hoses. It also plans a strategic investment of INR 68.18 Cr to subscribe to 1.50 crore warrants of Dev Information Technology Limited to expand into enterprise technology.
Credit Rating & Borrowing
The Debt Service Coverage Ratio (DSCR) decreased from 2.40 to 0.47 in FY25 due to an increase in the repayment portion of borrowings. Standalone interest costs were INR 0.72 Cr in FY25, down 67.45% from INR 2.21 Cr in FY24.
Operational Drivers
Raw Materials
Stainless steel (SS) billets and coils (primary for flexible flow solutions), polypropylene/polyethylene resins (for FIBC packaging), and specialized fittings. Raw material costs for Aeroflex Industries in H1 FY26 were INR 119.06 Cr, representing 61% of total income.
Import Sources
Not explicitly disclosed, but the company monitors international markets for raw materials and operates a global supply chain with 53% export revenue.
Capacity Expansion
Current consolidated FIBC capacity is 9,120 MTPA (7,920 MTPA at Aeroflex Neu and 1,200 MTPA at Fibcorp). Expansion is underway at Aeroflex Industries for new categories like metal bellows and composite hoses to meet liquid cooling demand.
Raw Material Costs
M.R. Organisation saw material consumption costs rise to INR 33.50 Cr in H1 FY26 from INR 17.26 Cr in H1 FY25, a 94% increase, which squeezed EBITDA margins by 1099 bps.
Manufacturing Efficiency
Aeroflex Neu is upgrading processes and SOPs, recently receiving BRC audit certification to enable supply to high-end food and pharma industries, which typically offer higher margins.
Logistics & Distribution
The company utilizes M.R. Organisation for tech-enabled last-mile utility and industrial services to enhance distribution efficiency.
Strategic Growth
Expected Growth Rate
21%
Growth Strategy
Growth is driven by a 'diversified incubator' model: 1) Inorganic growth through acquisitions like M.R. Organisation (64% stake) and Hyd-Air Engineering. 2) Scaling Aeroflex Finance (NBFC) through fintech partnerships (LenDenClub, FinAGG) with a H1 FY26 disbursement of INR 170.94 Cr. 3) Capacity expansion in high-demand sectors like liquid cooling for AI data centers.
Products & Services
Braided/unbraided hoses, solar hoses, gas hoses, vacuum hoses, expansion bellows, exhaust connectors, FIBC bulk bags, MSME loans, and tech-enabled engineering services.
Brand Portfolio
Aeroflex, Aeroflex Industries, Aeroflex Neu (formerly Sah Polymers), Fibcorp, Hyd-Air Engineering, Aeroflex Finance.
New Products/Services
Metal bellows, composite hoses, and enterprise technology services (via Dev IT investment). The BRC certification allows entry into the global food/pharma FIBC market, projected to grow at 4.5-5.5% CAGR.
Market Expansion
Expanding presence in the global liquid cooling technology market and high-end FIBC markets in Europe and the USA through subsidiaries like MRO Europe BVBA and MRO USA LLC.
Market Share & Ranking
Aeroflex Industries is a 'distinguished player' in global flexible flow solutions; FIBC market share is part of a USD 7.4 billion global industry.
Strategic Alliances
Partnerships with fintech players LenDenClub and FinAGG for loan origination; strategic investment in Dev Information Technology Limited for cloud and AI infrastructure.
External Factors
Industry Trends
The global FIBC market is expected to reach USD 11.5B-14.8B by 2035. There is a surging demand for advanced liquid cooling technologies in AI data centers, which Aeroflex Industries is ramping up to meet.
Competitive Landscape
Competes in the fragmented global FIBC and flexible hose markets; positioning as a 'tech-enabled' and 'knowledge-based' manufacturer to differentiate from commodity players.
Competitive Moat
The moat is built on 1) High switching costs in critical engineering sectors (aerospace, oil & gas). 2) Regulatory certifications (BRC). 3) A diversified portfolio of 165+ startup investments across 35+ sectors providing a hedge against sector-specific downturns.
Macro Economic Sensitivity
Highly sensitive to global industrialization trends and the 'Make in India' initiative, which supports the company's diversified investment strategy.
Consumer Behavior
Shift toward sustainable bulk packaging and digital-first financial services for MSMEs (Aeroflex Finance).
Geopolitical Risks
Trade barriers and global supply chain shifts affect the FIBC and engineering export markets; the company maintains international subsidiaries to mitigate local market risks.
Regulatory & Governance
Industry Regulations
Subject to RBI regulations for its NBFC (Aeroflex Finance - Type II non-deposit taking) and stringent safety/manufacturing standards for aerospace and oil & gas components.
Environmental Compliance
Maintains a governance framework for sustainability and environment; BRC certification ensures compliance with stringent food and pharma safety standards.
Taxation Policy Impact
Standalone tax expense for FY25 was INR 5.19 Cr on a PBT of INR 15.45 Cr, representing an effective tax rate of approximately 33.6%.
Legal Contingencies
Statutory auditors reported no incidents of fraud or qualifications in the financial statements for FY25.
Risk Analysis
Key Uncertainties
Startup investment risk: 165+ investments carry a risk of capital loss which could impact consolidated profitability. Commodity risk: Fluctuations in stainless steel and polymer prices.
Geographic Concentration Risk
Packaging revenue is 53% export-dependent, creating high sensitivity to international trade relations and global shipping costs.
Third Party Dependencies
Relies on fintech partners (LenDenClub, FinAGG) for loan origination in the financial services vertical.
Technology Obsolescence Risk
Mitigated by active investments in AI, spacetech, and enterprise tech startups to stay ahead of industrial shifts.
Credit & Counterparty Risk
Aeroflex Finance reports a 0.00% Net Non-Performing Asset (NNPA) ratio as of September 30, 2025, indicating high asset quality in its INR 36.13 Cr loan book.
