Aeroflex Industries Ltd

- There is no specific mention of any current or planned fundraising through debt or equity in the provided transcript. - The company discusses capacity expansions and growth plans primarily funded through operational performance and redeployment of existing capital. - For instance, capital previously allocated to miniature metal bellows has been redirected towards the liquid cooling vertical, implying internal resource utilization rather than new fundraising. - No explicit reference is made to raising funds via equity or debt instruments in the near future during the Q&A or closing remarks.

- 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.

- 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.

- 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. - FY26 PAT margin stood at 12.5%; Q4 FY26 PAT margin was nearly 14%. - Skid assemblies, a new segment contributing 5% of FY26 sales, expected to scale significantly and drive future growth. - Significant capacity expansions planned, e.g., increasing skid assembly capacity from 6,000 to 15,000 units per annum by next two quarters, targeting 60% utilization by March 2027. - Metal bellows business expected to grow strongly, aiming for 50-60% capacity utilization in 2 to 3 years, with better margins than other products. - Overall, a robust order pipeline, ongoing investments in technology, capacity, and inorganic opportunities are expected to sustain growth momentum and improve profitability. - Focus on high-value products in data centers and AI infrastructure expected to support margin expansion and earnings growth.

- 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)