However, net loss rose to Rs 42.6 crore from Rs 39.9 crore year-on-year, which company executives attributed to continued investments in the business, employee gratuities and stock exchange-related costs. The company was listed on NSE and BSE on December 10.
A company statement attributed the robust sales growth to strong performance in aerospace and continued demand in the consumer segment.
Aequs chairman Aravind Melligeri said the order book for the aerospace sector stood at $814 million. Previously won consumer electronics contracts have been fully industrialized and revenues are now starting to flow.
The company, he added, has partnered with Accel India and Vagus Defense to engage in the design and manufacturing of unmanned aerial vehicles (UAV), primarily for India’s defense needs. Aequs has received approval from MeitY for PLI under the Electronics Components Manufacturing Scheme (ECMS).
The business, Melligeri, continued to deliver robust quarterly performance, supported by disciplined execution of our aerospace and consumer programs and a well-scaled operational footprint. “In the third quarter, coordinated planning and execution on the floor supported stable operations at our facilities, with revenue growing 51% year over year.”
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