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We hosted Mr. Rajeev Kaul, Co-founder & MD of Aequs, as part of our CEO Track session at AGIC 2026. Here are the key takeaways of the session:

* About Aequs: In 2006-07, Mr. Aravind Melligeri entered the manufacturing segment in aerospace ecosystem and started QuEST Global Manufacturing (QGM) in Bengaluru. In 2014, QGM was rebranded as ‘Aequs’. Aequs is a diversified contract manufacturing company, operating manufacturing facilities in India, France, and the US. The company provides vertically integrated product solutions for aerospace, toys and consumer durables industries. It specializes in precision machining for aerosystems, aerostructures, landing gear and engine components, forging, surface treatment, aerostructure assembly, testing and prototyping of components at its Belagavi unit. Apart from this, the company has also set up consumer durable and toy manufacturing clusters in Hubbali and Koppal, Karnataka.

* Portfolio expansion: Aequs added 86 new parts in 1QFY27 to take the total portfolio SKU count to 5,740 parts.

* The MD reiterated robust growth guidance across its aerospace and consumer segments. For FY27, aerospace revenue growth is pegged at 25-30% with its EBITDA margin sustaining above 20% (vs. 40% revenue growth and 23% EBITDA margin reported in 1QFY27).

* Aerospace revenue growth will be driven by higher customer build rates as more parts move into serial production. A strong USD1b+ order book (up 13% QoQ) in the aerospace segment supports 25-30% revenue CAGR potential for the next five years. Moreover, management expects regular additions to the order book.

* Aequs bagged a landmark contract from Safran Landing Systems to supply fully integrated wheels for Airbus A320. It is a fully indigenous manufactured product, for which Aequs is a single source supplier with a 15-year contract, the longest in the company’s history.

* Consumer segment is expected to see an exponential growth and narrow its EBITDA loss. Management sees segment revenue to grow 10-18x over the next five years, driven by volume ramp-up. It expects EBITDA breakeven by 4QFY27 on ramp-up in capacity utilization to 40-50%, and a positive PAT in FY28/FY29.

* Capex: A USD350-400m capex is planned in the next five years to set up a mega integrated greenfield plant in Hosur for the aerospace segment and capacity augmentation in the consumer segment. Management considers accelerating aerospace capex due to the scale and timelines of new wins.

* By 2031, Aequs aims to become a co-development partner for its customers from being a build-to-print manufacturer currently

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