Aequs Limited has informed the Exchange about Transcript of Earnings Conference Call held on Wednesday, July 29, 2026, pertaining to the Un-audited Financial Results of the Company for ....

August 04, 2026 National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, C-1, Block G, 20th Floor, P.J. Towers, Bandra Kurla Complex, Bandra (E), Dalal Street, Mumbai – 400 051 Mumbai – 400 001 NSE Scrip Symbol: AEQUS BSE Scrip Code: 544634 Subject: Transcript of Earnings Conference Call pertaining to the Un-audited Financial Results of the Company for the quarter ended June 30, 2026 Dear Sir/ Ma’am, Pursuant to Regulation 30 and 46 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), enclosed herewith is the transcript of audio recording of the Earnings Conference Call held on Wednesday, July 29, 2026, pertaining to Un-audited Financial Results (Consolidated and Standalone) of the Company for the quarter ended June 30, 2026. The transcript of the said Earnings Conference Call is uploaded and available on the Company’s website at https://www.aequs.com/wp-content/uploads/2026/08/Transcript-Q1-FY-27.pdf Thanking You, For Aequs Limited Ravi Mallikarjun Hugar Company Secretary & Compliance Officer Membership Number: A20823 Encl.: As above Aequs Limited (formerly known as Aequs Private Limited) Corporate Identity Number: L80302KA2000PLC026760 Registered Office: Aequs Tower, No. 55, Whitefield Main Road, Mahadevapura Post, Bengaluru - 560048, Karnataka, India T: + 91 080 61348000 Corporate Office: Aequs SEZ, No. 437/A, Hattargi Village, Hukkeri Taluk, Belagavi – 591243, Karnataka, India T: +91 0831 4222500 Website: www.aequs.com Email: investor.relations@aequs.com “Aequs Limited Q1 FY27 Earnings Conference Call” July 29, 2026 MANAGEMENT: MR. ARAVIND MELLIGERI – EXECUTIVE CHAIRMAN AND CHIEF EXECUTIVE OFFICER – AEQUS LIMITED MR. RAJEEV KAUL – CO-FOUNDER AND MANAGING DIRECTOR – AEQUS LIMITED MR. HARISH BANG – VICE PRESIDENT-FINANCE – AEQUS LIMITED MODERATOR: MR. MANAV POAL – EY Aequs Limited July 29, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Q1 FY27 Earnings Call for Aequs Limited. As a reminder, all participants' lines will be in listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star, then zero on your touchtone phone. I now hand over the conference to Mr. Manav Poal from EY. Thank you, and over to you, sir. Manav Poal: Thank you. Good evening to all the participants on the call and thank you for joining in. We welcome you to the Q1 FY27 Earnings Call of Aequs Limited. Before we proceed, let me remind you that the discussion may contain forward-looking statements that may involve known or unknown uncertainties and other factors. These statements should be viewed together with our business risks, which may lead to actual results and performance differing materially from what is expressed or implied. To take us through the results and answer your questions today, we have the management of Aequs Limited represented by Mr. Aravind Melligeri, Executive Chairman and CEO; Mr. Rajeev Kaul, Co-founder and Managing Director; Mr. Harish Bang, Vice President of Finance. We will start the call with a brief overview of the previous quarter and then conduct the Q&A session. With that said, I'll now hand the call over to Aravind sir. Aravind Melligeri: Good evening, everyone and thank you for joining us. Q1 FY27 marks a strong start to the year we described in our Investor Day, a year about translating our expanded capacity into the financial returns. This quarter demonstrated exactly the beginning of that translation. Consolidated revenue grew 55% year-on-year to INR3,955 million, up 8% sequentially on what was already the strongest quarter in our history. Growth was broad-based, aerospace grew 40% year-on-year and our consumer segment nearly tripled, reflecting the consumer electronics ramp at Hubballi. Consumer contributed 19% of our revenue this quarter, up from 10% the year ago. I want to address the profitability picture directly because the headline and the substance point in different directions this quarter. Reported EBITDA at INR215 million is lower than the Q4, but that movement is mainly due to other income, foreign exchange, which was unusually high in the Q4. On the operational basis, excluding the other income, EBITDA improved from INR42 million in Q4 to INR148 million, a more than three-fold sequential improvement, driven by narrowing consumer loss. That operational trajectory, not the currency line, is the measure of execution and it's moving exactly as we committed. Our consumer segment EBITDA loss narrowed by INR112 million sequentially. The path to consumer EBITDA breakeven by Q4 '27 now has its first quarterly proof point. Let me share the highlights from Farnborough, which just came back from there last week, from which our strongest airshow yet. We signed long-term agreements with two new aerostructure Page 2 of 19 Aequs Limited July 29, 2026 Tier-1 customers, expanding our global base. And we signed our first contract for fully integrated Airbus A320 wheels with Safran Landing Systems. Aequs will deliver completely assembled wheels built from India-sourced aerospace-qualified aluminum with forging, machining, surface treatment, and assembly, all within the Belagavi Aerospace ecosystem. That is 100% Make in India for a flight-critical product. Notably, these wins come after a quarter-end order book of over USD1 billion. You should see these new wins reflect in the next quarter’s order book. Given the scale and the delivery of requirements of these new wins, we are evaluating acceleration of aerospace capex plan to ensure that required capacity is available in line with our customer timelines. Our FY27 priorities are unchanged from what we set out in May. First, grow aerospace revenue profitably 25% to 30% with a segment EBITDA margins above 20%. Q1 delivered 40% growth at a 23% segment margin. Second, drive consumer utilization to unlock the operating leverage embedded in our existing asset base. Third, move our consumer EBITDA breakeven by Q4 FY27, which will be a major inflection point in our consolidated profitability. At a consolidated level, we continue to expect approximately 45% to 50% top-line revenue growth for the full year with the doubling of our operational EBITDA, a target that is weighted to the second half as consumer utilization builds through the year. Since our listing, we have seen exceptional broadening of our shareholder base and a rapid deepening of our investor engagement with our long-term manufacturing story. In a remarkable short period, we have achieved a breadth of shareholder participation that the manufacturing companies typically take several years to build, an acknowledgment of our strength and our differentiated platform and the magnitude of the opportunity before us. On the CFO transition, as communicated in May, Dinesh Iyer has stepped down at the end of June and our search for a full-time CFO is progressing well. In the interim, Harish Bang is leading our finance function and he will take you through the financials shortly. With that, I'll hand over to Rajeev Kaul, Co-founder and Managing Director, to take you through the operating performance. Rajeev Kaul: Thank you, Aravind, and good evening everyone. I'll begin with our aerospace performance. Aerospace revenue increased by 40% year-on-year and 6% sequentially to INR3,222 million. The growth was supported by higher customer build, rates and the progression of additional parts into production. During the quarter, we added 86 new parts, further expanding one of India's most extensive aerospace manufacturing portfolio to 5,740 parts. The defining achievement of the quarter was our aerospace order book crossing the USD1 billion mark, following a 13% sequential increase from USD889 million. This milestone is a powerful validation of the trust placed in Aequs by leading [Showing first 8,000 characters — download PDF for full document]