Aeroflex
Aeroflex Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q4 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
FY26 sales growth expected around 35%, driven by new capacity commissioning and skid assemblies expansion. FY26 EBITDA margin was 22.6%; the full-year FY27 target is around 23%, with a goal to reach 25% over the next couple of years.
From Aeroflex's Q4 FY26 earnings-call transcript · updated 24 Aug 2026.
Revenue & Sales Performance
- FY26 sales growth expected around 35%, driven by new capacity commissioning and skid assemblies expansion.
- Base business growth anticipated between 15% and 20%.
- Skid assemblies contributed 5% in FY26, targeted to reach 20-22% of total business soon.
- Metal bellows business at INR8 crores ARR in FY26, targeting 50-60% capacity utilization in 2-3 years, with peak revenue potential of INR80 crores.
- Skid assembly volumes projected to scale from 617 units last year to 6,000 units and ultimately 15,000 units by FY27, with 60% utilization targeted by March 2027.
- EBITDA margin aimed to improve from 22.5% to 23% in FY27 and reach 25% in the next few years.
- Growth fueled by expanding product portfolio in high-growth areas like data centers and AI infrastructure, along with capacity expansions and potential inorganic growth.
Profitability & Margins
See what Aeroflex said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Aeroflex is expanding capacity significantly in skid assemblies, aiming for 15,000 capacity utilization by March next year, targeting a peak utilization of 75%-80%.
- No major capex planned for miniature metal bellows; only minor ancillary equipment additions expected this financial year.
- Capital initially allocated to miniature metal bellows expansion was redeployed to the liquid cooling vertical.
- Company is open to inorganic opportunities but has not finalized any acquisitions yet, especially in data center-related products.
- Plans to scale metal bellows business over the next two to three years to achieve 50%-60% capacity utilization, requiring corresponding investments.
- Ongoing investments in technology and capacity expansion are part of the strategic initiatives to strengthen market leadership and sustain growth.
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Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Aeroflex said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Liquid cooling skid assemblies work on long-term contracts with quarterly POs from an exclusive supplier; exact order book details are confidential due to agreements. (Page 6)
- Capacity expansion is aligned with the supplier's pipeline for the year. (Page 6)
- For the 15,000 capacity full year, planned peak utilization is 75%-80%, with 6,000 capacity usable at 75% in the current year. (Page 6)
- No specific total order book number disclosed for liquid cooling skids, but a strong pipeline exists. (Page 6)
- Metal bellows had INR8 crores revenue in FY26 with expectations of significant growth and capacity utilization aiming for 50%-60% in two to three years. (Pages 17-18)
- Skid assemblies contributed 5% to FY26 top-line, expected to rise to 20%-22% in the current year. (Page 17)
- Base business and excluding skid assemblies show expected growth of 15%-20%. (Page 19)
Aeroflex — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹126 Cr, net profit ₹18 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Aeroflex Industries Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Aeroflex Q4 FY26 results?
FY26 sales growth expected around 35%, driven by new capacity commissioning and skid assemblies expansion. FY26 EBITDA margin was 22.6%; the full-year FY27 target is around 23%, with a goal to reach 25% over the next couple of years.
What is Aeroflex share price analysis?
Aeroflex currently shows a neutral. The stock trades at a P/E of 99.1 with a market cap of ₹6,656 Cr. Investors should review the full earnings analysis for detailed insights.
Is Aeroflex planning capital expenditure?
Aeroflex is expanding capacity significantly in skid assemblies, aiming for 15,000 capacity utilization by March next year, targeting a peak utilization of 75%-80%.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.