Aesthetik Engineers Limited (AESTHETIK)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Aesthetik Engineers' revenue was ₹80.0 Cr (+100.0% year on year, +110.5% on the previous half-year), and net profit ₹4.0 Cr (-20.0% year on year); the operating margin was 7.5%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹80.0 | +100.0% | +110.5% |
| Operating profit | ₹6.0 | -14.3% | +0.0% |
| Net profit | ₹4.0 | -20.0% | +0.0% |
| EPS (₹) | 2.10 | -26.8% | +3.4% |
| Operating margin | 7.5% | — | — |
📢 Recent Corporate Announcements
Aesthetik Engineers Limited announced significant board changes effective September 18-19, 2026. Mr. Abhishek Sawaria (Whole Time Director) and Ms. Priyanka Jalan (Non-Executive Director) have resigned to pursue outside opportunities. Concurrently, Ms. Vaani Agarwal, daughter of Managing Director Avinash Agarwal and Executive Director Sreeti Agarwal, was appointed as an Additional Director (Non-Executive). Additionally, the company scheduled its Annual General Meeting for November 28, 2026.
- Whole Time Director Abhishek Sawaria resigned effective close of business on September 18, 2026.
- Non-Executive Director Priyanka Jalan resigned effective close of business on September 18, 2026.
- Ms. Vaani Agarwal appointed as Additional Director (Non-Executive) effective September 19, 2026.
- Annual General Meeting (AGM) scheduled for November 28, 2026.
Aesthetik Engineers has announced key board changes effective from the close of business on September 18, 2026. Whole Time Director Mr. Abhishek Sawaria and Non-Executive Director Ms. Priyanka Jalan have resigned to pursue external opportunities. Concurrently, Ms. Vaani Agarwal, daughter of Managing Director Avinash Agarwal and Executive Director Sreeti Agarwal, has been appointed as an Additional Non-Executive Director effective September 19, 2026. The company has also scheduled its Annual General Meeting for November 28, 2026.
- Resignation of Whole Time Director Abhishek Sawaria effective closing hours of 18th September, 2026
- Resignation of Non-Executive Director Priyanka Jalan effective closing hours of 18th September, 2026
- Appointment of Ms. Vaani Agarwal as Additional Non-Executive Director effective 19.09.2026
- Annual General Meeting (AGM) scheduled for 28th November, 2026
Aesthetik Engineers announced significant board changes following its board meeting on September 19, 2026. Mr. Abhishek Sawaria (Whole Time Director) and Ms. Priyanka Jalan (Non-Executive Director) resigned effective September 18, 2026, to pursue outside opportunities. Concurrently, Ms. Vaani Agarwal was appointed as an Additional Non-Executive Director effective September 19, 2026; she is the daughter of Managing Director Avinash Agarwal and Executive Director Sreeti Agarwal. Additionally, the AGM date was fixed for November 28, 2026.
- Whole Time Director Abhishek Sawaria resigned effective closing hours of September 18, 2026
- Non-Executive Director Priyanka Jalan resigned effective closing hours of September 18, 2026
- Ms. Vaani Agarwal appointed as Additional Director (Non-Executive) effective September 19, 2026
- Annual General Meeting scheduled for November 28, 2026
Aesthetik Engineers announced key boardroom changes following its September 19, 2026 board meeting. The company appointed Ms. Vaani Agarwal (daughter of MD Avinash Agarwal and ED Sreeti Agarwal) as an Additional Non-Executive Director. Concurrently, Whole Time Director Mr. Abhishek Sawaria and Non-Executive Director Ms. Priyanka Jalan have resigned to pursue external opportunities, effective September 18, 2026. The board also approved the FY26 Director's Report and scheduled its Annual General Meeting for November 28, 2026.
- Appointment of Ms. Vaani Agarwal as Additional Non-Executive Director effective September 19, 2026
- Resignation of Whole Time Director Abhishek Sawaria effective September 18, 2026
- Resignation of Non-Executive Director Priyanka Jalan effective September 18, 2026
- Annual General Meeting scheduled for November 28, 2026 via OAVM
Aesthetik Engineers announced leadership changes following its board meeting on September 19, 2026. The board approved the appointment of Ms. Vaani Agarwal (promoter family member) as an Additional Non-Executive Director. Concurrently, Ms. Priyanka Jalan (Non-Executive Director) and Mr. Abhishek Sawaria (Whole Time Director) resigned effective September 18, 2026. Additionally, the company scheduled its Annual General Meeting for November 28, 2026.
- Appointment of Ms. Vaani Agarwal as Additional Non-Executive Director effective September 19, 2026
- Resignation of Whole Time Director Abhishek Sawaria effective closing hours of September 18, 2026
- Resignation of Non-Executive Director Priyanka Jalan effective closing hours of September 18, 2026
- Annual General Meeting (AGM) scheduled for November 28, 2026
Aesthetik Engineers Limited has received approval from the Registrar of Companies (ROC), Kolkata, for a 2-month extension to hold its Annual General Meeting (AGM) for the financial year ended March 31, 2026. The AGM was originally due to be held by September 30, 2026, under Section 96(1) of the Companies Act, 2013. The company submitted its application on September 4, 2026, and the order was issued on September 7, 2026, with an advisory from the ROC to maintain future compliance.
- Extension of 2 months granted to hold the AGM beyond the September 30, 2026 deadline
- Approval granted by ROC Kolkata under Section 96(1) of the Companies Act, 2013
- Application filed by the company on September 4, 2026 (SRN AC5831690)
- ROC issued an advisory to the company to remain careful regarding statutory compliance in the future
Aesthetik Engineers Limited has informed the stock exchange regarding an application submitted for an extension of time to conduct its Annual General Meeting (AGM). The announcement was filed on September 4, 2026. Against the company's TTM revenue of Rs 184 Cr and net profit of Rs 14 Cr, this represents a procedural compliance update with no direct financial impact.
- Application filed for extension of time to hold the Annual General Meeting (AGM)
- Filing submitted to the exchange on September 4, 2026
- Company reported TTM revenue of Rs 184 Cr and TTM PAT of Rs 14 Cr
Financial Performance
Revenue Growth by Segment
Consolidated revenue from operations grew 45.8% YoY, reaching INR 37.71 Cr in H1 FY26 compared to INR 25.86 Cr in H1 FY25. The growth is driven by the core facade engineering business and the integration of new solar subsidiaries.
Geographic Revenue Split
Not explicitly disclosed, though operations are primarily centered in Kolkata, West Bengal, with a branch office in New Delhi and a presence in Mumbai.
Profitability Margins
Net Profit Margin improved significantly from 2.37% in H1 FY25 to 9.28% in H1 FY26. This expansion is due to better absorption of fixed costs as the company scales post-IPO.
EBITDA Margin
EBITDA margin stood at approximately 15.6% for H1 FY26 (INR 5.89 Cr), reflecting strong core profitability compared to the previous year's lower base.
Capital Expenditure
The company utilized INR 8.00 Cr from IPO proceeds for capital expenditure as of September 30, 2025, to enhance its manufacturing and execution capabilities.
Credit Rating & Borrowing
Total borrowings surged from INR 1.70 Cr in March 2025 to INR 15.30 Cr in September 2025. Finance costs increased by 197% YoY to INR 0.67 Cr, reflecting higher utilization of credit lines for working capital.
Operational Drivers
Raw Materials
Key materials include aluminum sections, architectural glass, and solar components, with Cost of Materials Consumed representing 73.3% of total revenue (INR 27.63 Cr).
Capacity Expansion
Current capacity not quantified in units; however, INR 8.00 Cr was invested in capital assets post-IPO to expand project execution capacity.
Raw Material Costs
Raw material costs stood at INR 27.63 Cr in H1 FY26, a 61% increase from INR 17.17 Cr in H1 FY25, tracking the revenue growth and increased project scale.
Strategic Growth
Expected Growth Rate
45%
Growth Strategy
Growth is being achieved through diversification into the renewable energy sector via subsidiaries Aesthetik Renewables and Solisys Solar, and by utilizing INR 15.00 Cr in IPO proceeds for working capital to take on larger facade engineering contracts.
Products & Services
Architectural facade systems, structural glazing, aluminum doors/windows, and solar power solutions (BIPV and solar installations).
Brand Portfolio
Aesthetik, Solisys Solar, Aesthetik Renewables.
New Products/Services
Expansion into solar energy services through Solisys Solar Private Limited, which contributed INR 7.66 Cr in turnover for FY25.
Market Expansion
Expansion into the solar energy market and strengthening presence in the Mumbai and Delhi regions.
Strategic Alliances
Acquisition of Aesthetik Renewables Private Limited (Sept 2024) and Solisys Solar Private Limited (Feb 2025).
External Factors
Industry Trends
The industry is shifting toward sustainable building envelopes and integrated solar facades (BIPV), which the company is positioning for through its new solar subsidiaries.
Competitive Landscape
Operates in a fragmented market with competition from both unorganized local players and large-scale engineering firms.
Competitive Moat
The company possesses a niche engineering moat in facade design and has established an early-mover advantage in the SME space for integrated solar solutions.
Macro Economic Sensitivity
Highly sensitive to the construction and real estate cycles, as facade engineering is a late-stage construction activity.
Consumer Behavior
Increasing demand for energy-efficient buildings and green certifications is driving demand for high-performance facades.
Geopolitical Risks
Potential impact on the supply chain for specialized glass or aluminum components if trade barriers are imposed.
Regulatory & Governance
Industry Regulations
Compliance with the Companies Act 2013, SEBI (LODR) Regulations 2015, and building safety standards for facade installations.
Environmental Compliance
The company monitors energy conservation and technology absorption as per Section 134(3)(m) of the Companies Act.
Taxation Policy Impact
Effective tax rate for H1 FY26 was approximately 25% (INR 1.17 Cr tax on INR 4.67 Cr PBT).
Legal Contingencies
The Secretarial Auditor (Rawal & Co.) resigned on November 13, 2025, citing other professional commitments; no specific pending court case values were disclosed in the provided audit reports.
Risk Analysis
Key Uncertainties
The sudden resignation of the Secretarial Auditor and the massive 22,000% spike in inventory levels pose risks to governance and liquidity management.
Geographic Concentration Risk
Significant concentration of operations and management in Kolkata, West Bengal.
Third Party Dependencies
High dependency on specialized vendors for glass and aluminum extrusions.
Technology Obsolescence Risk
Risk of falling behind in BIPV (Building Integrated Photovoltaics) technology if R&D is not prioritized.
Credit & Counterparty Risk
Trade receivables stood at INR 16.10 Cr as of September 2025, representing a significant portion of current assets and posing a credit risk if collections are delayed.
