Aeroflex Enterprises Ltd

AGM & dividend updates

• AGM scheduled for 08-Sep-2026 via VC/OAVM; notice and annual report emailed to members.
• E-voting from Sep 4–7, 2026; entitlement cutoff Sep 1, 2026.
• Dividend of Re 0.40 per share; record date Sep 1, 2026; subject to AGM approval.
• Dividends taxable; TDS applies; update KYC to receive and avoid IEPF transfer.
• Web-links to Annual Report and AGM Notice shared for members without registered emails.

Record date and entitlement

• Record date 01 Sep 2026; final dividend Rs 0.40 per share, payable 07 Oct 2026, subject to AGM.

Book closure details

• Book closure for equity shares: 02 Sep 2026 to 08 Sep 2026 (inclusive) for the 41st AGM.

Headline financials

• Consolidated total income FY26: ₹726.10 cr.
• EBITDA ₹149.81 cr; margin 20.63%.
• PAT ₹85.33 cr; PAT margin 11.75%.
• Standalone revenue ₹2,010.97 lakh; standalone PAT ₹1,102.86 lakh.
• Diluted EPS: ₹5.68; dividend ₹0.40 per share.
• Net cash from operations (consolidated): ₹1,829.87 lakh.
• Gearing ratio: 2.75x.
• MRO divestment value ₹227.42 cr; ~3x return; ~107% XIRR.
• Data-centre liquid cooling contract valued at USD ~130B.

Strategic divestment and big-ticket opportunities

• MRO divestment completed on 30 Apr 2026; MRO ceased to be a subsidiary.
• Strategic exit validates incubator model and value-creation playbook.
• Long-term USD 130B data-centre cooling contract expansion opportunity.
• Additional MRO stake built earlier in FY25; acquisition activity supported growth.

Core business momentum – Aeroflex Industries

• FY26 EBITDA ~₹100 cr; cash profit ₹82 cr; 26% YoY EBITDA growth.
• Hose capacity expanded to 17.5 million metres; automation added (2 robotic lines).
• Long-term data-centre cooling contract with a US-listed firm valued ~USD 130B.
• Hyd-Air Engineering strengthened with capabilities in hydraulic fittings and flow assemblies.
• Skid assemblies capacity expanded; target 15,000 units by FY27.

Aeroflex Neu and packaging axis

• Aeroflex Neu Total Income ₹134.18 cr; PAT ₹1.75 cr.
• BRC certification achieved; expanding into food/pharma-grade high-end FIBC market.
• Exports ~67% of revenue; serve 30+ countries; operations in 14 states.

Engineering services and MRO footprint

• M.R. Organisation (MRO) growth: 48% YoY total income; PAT ₹20 cr; EBITDA 26%.
• MRO divestment to Ingersoll-Rand completed; strategic exit highlights governance and value.

Aeroflex Finance – fintech lending

• 33,769 borrowers; disbursements ₹407.13 cr; collections ₹385.96 cr.
• Loan book ₹44.49 cr; NIM 22.02%; ROA 5.82%; ROE 16.04%; CAR 33.50%.

Portfolio and exits – startup ecosystem

• Portfolio expanded to 168 investments across 35+ sectors; 7 new in FY26.
• 3 exits in FY26: Pee Safe (9.39x), PensionBox (1.2x), EMO Energy (9.28x).
• Investments backed by India Quotient, Artha Venture Fund, Beams FinTech Fund.

Governance, board and CSR

• Board of 6 directors; 3 independent; Parthasarathi Sarkar reappointed Aug 2025.
• Audit Committee: 3 members; CSR Committee chaired by Parthasarathi Sarkar from Aug 2025.
• CSR spend FY26: ₹15.82 lakh; SAT Foundation as CSR arm; no unspent CSR funds.

Dividend, capital structure and shareholder info

• Final dividend proposed ₹0.40 per share; record date 1 Sep 2026; AGM approval required.
• Authorized capital ₹29 crore; issued ₹22.62 crore; 11.3085 million shares.
• Employee stock options: 264,000 granted; cost ₹65.61 lakh; vesting over one year.
• Promoters Sat Invest Pvt Ltd (44.95%) and A Flex Invest Pvt Ltd (6.38%).

Risks and outlook

• Global growth moderated; India remains fastest-growing large economy; energy and trade volatility risk.
• Execution risk in scaling data-centre cooling, ongoing regulatory shifts, and technology transitions.

Business Overview

• Aeroflex is a diversified engineering group with Neu packaging and liquid cooling.
• Formerly Sat Industries; pursuing strategic exits and acquisitions to build an engineering ecosystem.
• FY26 total income ₹726.1 Cr; EBITDA ₹149.8 Cr; PAT ₹85.3 Cr; EBITDA 21%.
• PAT margin about 12%; Cash PAT ₹118.3 Cr; Cash PAT margin 16%.
• 5-year CAGR: revenue 29%, EBITDA 42%, PAT 55%.

Strategic Transactions & Investments

• On Apr 30, 2026, divested 68% of MRO to Ingersoll-Rand US for ₹227.42 Cr.
• On May 22, 2026, Aeroflex Neu acquired 19.58% stake in Stilonn Valves.
• Stilonn Valves & Controls supplies sanitary valves to dairy, pharma, and food sectors.
• Neu to sell 51.01% stake in Fibcorp Polyweave Private Limited under SPA.
• Liquid cooling: long-term data-centre agreement; ASME certification; World Data Center exhibition.
• Export reach: Neu exports to 30+ countries; consolidated capacity 9,120 MTPA.
• Exports 62% of revenue; domestic 38%.
• Investments: 169 total; notable exits include Pee Safe and EMO Energy.
• Fibcorp Polyweave: exports to 18+ countries; Star Export House.
• Brisil Technologies investment: Rs 3 Cr pre-seed with Momentum Capital.

Financial Performance

• FY26: Total Income ₹726.10 Cr; EBITDA ₹149.81 Cr; PAT ₹85.33 Cr.
• EBITDA margin 21%; PAT margin 12%; Cash PAT ₹118.29 Cr.
• 5-year CAGR: total income 29%; EBITDA 42%; PAT 55%.
• Consolidated capacity: 9,120 MTPA (Neu 7,920; Fibcorp 1,200).
• Exports accounted for 62% of revenue; domestic 38%.

Capital Structure & Liquidity

• Sale of MRO stake improved liquidity; no new debt noted.
• Neu stake purchase in Stilonn; Fibcorp stake sale in SPA.

Strategic Outlook & Priorities

• Focus on creating critical engineering ecosystem via inorganic growth.
• Aim to expand data-centre cooling and packaging businesses.
• Pursue investments in India and abroad; upgrade processes; BRC certification.

Governance & Leadership

• MRO exit and Stilonn investment indicate governance and portfolio strategy.

Financial results approved

• Board approved unaudited consolidated and standalone results for the quarter ended 30 June 2026, with limited review reports.

Subsidiary divestment

• MR Organisation Limited ceased to be a subsidiary with effect 30 April 2026 after divestment of its stake.

Audit and board endorsement

• Results reviewed by the Audit Committee and approved by the Board on August 11, 2026.

Standalone details

• Standalone results summarized; detailed results available on the company's website.

Regulatory and reporting notes

• Results are subject to Limited Review by statutory auditors.

Meeting Details

• Date and time: August 11, 2026 at 03:30 p.m.; location not disclosed.

Key Agenda Items

• Consider unaudited standalone and consolidated results for quarter ended June 30, 2026; Limited Review Reports thereon.
• Any other business with permission of the Chair.

Other Notes

• Trading window closed since July 01, 2026 and remains closed till August 13, 2026.