Aequs Ltd.
AEQUSNSECapital GoodsDefenceSmall Cap
₹222.13
▲ 9.39%
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26
Composite
The company, along with its subsidiaries and its associates and joint ventures, is engaged in the business of contract manufacturing catering to various industries. These units are registered to carry on the operations relating to manufacture of machined parts used in aerospace and products related to consumer market.
Q-DITS fundamental score
26Composite
Growth
33
Profitability
0
Valuation
21
Quality
14
Solvency
27
Earnings
58
Key metrics
MCap
₹14.9K Cr
TTM PE
0x
Industry PE
47.3x
TTM EPS
₹-1.69
Book Value
₹22.16
Face Value
₹10
Div Yield
0%
PEG
—
PB
0x
ROE
-18.4%
ROCE
-2.6%
EBITDA mgn
12.3%
D/E
0.61
Int. Cover
-0.5x
Curr. Ratio
1.1x
EPS
₹-1.76
Growth — CAGR across horizons
| Metric | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|
| Net Sales | 33.1% | — | — | — |
| EBITDA | 21.4% | — | — | — |
| Net Profit | -102.7% | — | — | — |
Score snapshot
Piotroski
1/9
Altman Z
0.93
Quality
13.9
Growth
33.3
Valuation
21
Earn. Qual
58
PEAD
0
SURGE
-1
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Revenue, profitability & returns
Revenue & Net Profit (₹ Cr)
RevenueNet Profit
Margins (%)
EBITDA%PAT%
Return ratios (%)
ROEROCEROA
Annual financials — last 6 years
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| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| ›RevenueCr | 549 | 402 | 529 | 812 | 965 | 925 | |
| ›EBITDACr | 76 | 5 | 10 | 66 | 170 | 65 | |
| ›EBITDA margin | 14% | 1.3% | 4.3% | 8.3% | 15.6% | 12.3% | |
| ›Net profitCr | -12 | -114 | -103 | -109 | -12 | -102 | |
| ›PAT margin | -2.1% | -28.4% | -19.4% | -13.4% | -1.3% | -11.1% | |
| ›EPS₹ | ₹-3.35 | ₹-3.01 | ₹-2.68 | ₹-2.33 | ₹-0.26 | ₹-1.76 | |
| ›Revenue growth | 0% | -26.9% | 31.8% | 53.5% | 18.8% | -4.2% | |
| ›PAT growth | 0% | -881.9% | 9.7% | -5.7% | 88.8% | -743.2% | |
| ›ROE | -15.3% | -97.8% | -48% | -41.2% | -3.7% | -18.4% | |
| ›ROCE | 4.5% | -17.5% | -12.7% | -5.8% | 7.8% | -2.6% | |
| ›ROA | -1.3% | -13.3% | -10.7% | -9.1% | -0.8% | -5.7% | |
| ›P/E | 0x | 0x | 0x | 0x | 0x | 0x | |
| ›P/B | 0x | 0x | 0x | 0x | 0x | 0x | |
| ›D/E | 4 | 1.8 | 1.1 | 1.3 | 0.4 | 0.6 | |
| ›Current ratio | 0.7x | 0.9x | 0.9x | 0.9x | 1.5x | 1.1x | |
| ›Interest cover | 0.4x | -1.4x | -1.5x | -0.5x | 1x | -0.5x |
Quarterly results
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| Metric | Trend | 2024-12 | 2025-03 | 2025-12 | 2026-03 |
|---|---|---|---|---|---|
| ›RevenueCr | 216 | 249 | 326 | 367 | |
| ›Rev growth YoY | — | — | 50.8% | 47.3% | |
| ›EBITDACr | 7 | 25 | 29 | 4 | |
| ›EBITDA margin | 3.4% | 9.8% | 8.9% | 1.1% | |
| ›Net profitCr | -41 | 7 | -44 | -61 | |
| ›PAT growth YoY | — | — | -6.6% | -942.1% | |
| ›EPS₹ | ₹-0.94 | ₹0.15 | ₹-0.64 | ₹-0.8 |
Balance sheet — last 7 years (₹ Cr)
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| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| ›Shareholders' equityCr | 95 | 177 | 292 | 279 | 817 | 717 | 1,486 | |
| ›ReservesCr | -128 | -94 | -107 | -151 | -21 | 128 | 816 | |
| ›Total borrowingsCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| ›InvestmentsCr | 92 | 77 | 96 | 102 | 149 | 163 | 0 | |
| ›Total assetsCr | 388 | 461 | 640 | 745 | 1,265 | 1,183 | 2,690 | |
| ›Current assetsCr | 362 | 350 | 445 | 503 | 836 | 744 | 1,303 | |
| ›Current liabilitiesCr | 508 | 406 | 489 | 577 | 558 | 676 | 823 | |
| ›Trade payablesCr | 143 | 114 | 177 | 226 | 203 | 231 | 322 | |
| ›Gross blockCr | 513 | 617 | 872 | 1,081 | 1,149 | 1,119 | 773 |
Cash flow statement (₹ Cr)
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| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| ›Operating CF (CFO)Cr | 44 | 66 | -0 | 10 | -19 | 26 | -99 | |
| ›Investing CF (CFI)Cr | -30 | 44 | -87 | -89 | -343 | -74 | -371 | |
| ›Financing CF (CFF)Cr | -6 | -29 | 84 | 54 | 393 | 25 | 704 | |
| ›Net cash changeCr | 7 | 80 | -3 | -25 | 31 | -22 | 235 | |
| ›Closing cashCr | 15 | 85 | 83 | 51 | 79 | 61 | 301 |
Cash flow components
CFO · CFI · CFF (₹ Cr)
CFOCFICFF
Q-DITS scorecard
Composite score
26
Quality (25%)13.9
Growth (25%)33.3
Valuation (20%)21
Piotroski (15%)11
Earnings Quality (10%)58
Momentum (5%)—
Weighted blend, rescaled to the components available for this stock.
Piotroski F-Score
1/9
✗ROA positiveROA -5.66%
✗CFO positiveCFO ₹-98.75 Cr
✗ROA improving-0.79% → -5.66%
✓CFO > PAT (low accruals)CFO -98.75 vs PAT -102.42
✗Leverage decreasedD/E 0.36 → 0.61
✗Liquidity improvedCR 1.5 → 1.1
✗No share dilutionEPS -0.26 → -1.76
✗Margin improvedEBITDA mgn 15.63% → 12.26%
✗Asset turnover upAsset TO 0.63 → 0.51
Altman Z-Scoredistress
0.93
X1
0.179
X2
0.303
X3
-0.011
X4
0.553
X5
0.344
>2.9 safe · 1.23–2.9 grey · <1.23 distress
Quality
13.9/100
ROE
-18.4%
ROCE
-2.6%
Margin
-11.1%
Debt
0.6
Int. cover
-0.5x
Growth
33.3/100
Revenue 3Y
33.1%
Profit 3Y
-102.7%
EPS
-589.3%
Valuation
21/100
PE
0x
PB
0x
EV/EBITDA
4.8x
vs universe median: PE 25.6x · PB 2.81x · EV 13.41x
Earnings quality
58/100
CFO₹-99 Cr
PAT₹-102 Cr
Accrual ratio-0.001
CFO/PAT0.96x
PEAD · SURGE
0 / -1
Revenue SUE—
EPS SUE-0.71
Latest quarter2026-03
Rev growth YoY47.3%
Documents & filings
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Peer comparison
| Company | MCap (Cr) | Revenue | PAT | PE | PB | ROE% | ROCE% | D/E |
|---|---|---|---|---|---|---|---|---|
| Bharat Electronics Ltd. | 3,12,237 | 27,610 | 6,023 | 51.5x | 13x | 29.1 | 39.2 | 0 |
| Hindustan Aeronautics Ltd. | 2,94,799 | 33,089 | 9,072 | 32.3x | 7.2x | 26.1 | 33.9 | 0 |
| Bharat Dynamics Ltd. | 50,347 | 2,442 | 420 | 119.8x | 11.9x | 14.4 | 19.8 | 0 |
| Data Patterns (India) Ltd. | 26,997 | 925 | 271 | 99.5x | 15.6x | 15.7 | 21.7 | 0 |
| Zen Technologies Ltd. | 18,021 | 688 | 220 | 93.2x | 9.5x | 27.9 | 38.6 | 0.03 |
| Apollo Micro Systems Ltd. | 15,996 | 904 | 107 | 141.7x | 11.1x | 10.1 | 14 | 0.55 |
| Astra Microwave Products Ltd. | 15,977 | 1,163 | 185 | 82.8x | 12.2x | 14.9 | 19.2 | 0.38 |