Interim report
Page 1
Aequs Limited (formerly known as Aequs Private Limited) Corporate Identity Number: L30305KA2000PLC026760 Registered Office: Aequs Tower, No. 55, Whitefield Main Road, Mahadevapura Post, Bengaluru - 560048, Karnataka, India T: + 91 080 61348000 Corporate Office: Aequs SEZ, No. 437/A, Hattargi Village, Hukkeri Taluk, Bel agavi – 591243, Karnataka, India T: +91 0831 4222500 Website: www.aequs.com Email: investor.relations@aequs.com October 26, 2026 To, National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, C-1, Block G, 20th Floor, P.J. Towers, Bandra Kurla Complex, Bandra (E), Dalal Street, Mumbai – 400 051 Mumbai – 400 001 NSE Scrip Symbol: AEQUS BSE Scrip Code: 544634 Subject: Outcome of the Board Meeting of Aequs Limited (“the Company”) held on October 26, 2026 Ref.: Disclosure under Regulation 33 and Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dear Sir/ Madam, Pursuant to Regulation 33 and Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), we wish to inform you that the Board of Directors of the Company at their meeting held today, i.e., Monday, October 26, 2026, which commenced at 14:50 HRS IST and concluded at 15:35 HRS IST, inter-alia, have considered and approved the following: ▪ Approval of Un-audited Financial Results The Board of Directors, at its meeting held today, approved the Unaudited financial results (both standalone and consolidated) of the Company for the quarter and half year ended September 30, 2026 along with Limited Review Report issued by the Statutory Auditors of Company. Copies of the same are enclosed herewith. This intimation will also be made available on the website of the Company and can be accessed using the below link: https://www.aequs.com/investor/ Thanking You, For Aequs Limited __________________________ Ravi Mallikarjun Hugar Company Secretary & Compliance Officer Membership Number: A20823 Encl.: as above
Page 6
B S R & Co. LLP Chartered Accountants Embassy Golf Links Business Park Pebble Beach, B Block, 3rd Floor No. 13/2, off Intermediate Ring Road Bengaluru - 560 071, India Telephone: +91 80 4682 3000 Fax: +91 80 4682 3999 Registered Office: B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063 Page 1 of 2 Limited Review Report on unaudited standalone financial results of Aequs Limited (formerly known as Aequs Private Limited) for the quarter ended 30 September 2026 and year to date results for the period from 1 April 2026 to 30 September 2026 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of Aequs Limited (formerly known as Aequs Private Limited) 1. We have reviewed the accompanying Statement of unaudited standalone financial results of Aequs Limited (formerly known as Aequs Private Limited) (hereinafter referred to as “the Company”) for the quarter ended 30 September 2026 and year to date results for the period from 1 April 2026 to 30 September 2026 (“the Statement”) (in which is included interim financial information of Aequs Stock Option Plan Trust). Attention is drawn to the fact that the figures for the corresponding quarter ended 30 September 2025 and the corresponding period from 1 April 2025 to 30 September 2025, as reported in the Statement have been approved by the Company’s Board of Directors, but have not been subjected to review. 2. This Statement, which is the responsibility of the Company’s management and approved by its Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”). Our responsibility is to issue a report on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it
Page 7
B S R & Co. LLP Limited Review Report (Continued) Aequs Limited (formerly known as Aequs Private Limited) Page 2 of 2 contains any material misstatement. For B S R & Co. LLP Chartered Accountants Firm’s Registration No.:101248W/W-100022 Sampad Guha Thakurta Partner Chennai Membership No.: 060573 26 October 2026 UDIN:26060573JYKDQR9325
Page 13
B S R & Co. LLP Chartered Accountants Embassy Golf Links Business Park Pebble Beach, B Block, 3rd Floor No. 13/2, off Intermediate Ring Road Bengaluru - 560 071, India Telephone: +91 80 4682 3000 Fax: +91 80 4682 3999 Registered Office: B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063 Page 1 of 4 Limited Review Report on unaudited consolidated financial results of Aequs Limited (formerly known as Aequs Private Limited) for the quarter ended 30 September 2026 and year to date results for the period from 1 April 2026 to 30 September 2026 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of Aequs Limited (formerly known as Aequs Private Limited) 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Aequs Limited (formerly known as Aequs Private Limited) (hereinafter referred to as “the Parent”), and its subsidiaries (the Parent and its subsidiaries together referred to as “the Group”) and its share of the profit/(loss) after tax and total comprehensive income/(loss) of its associate and joint ventures for the quarter ended 30 September 2026 and year to date results for the period from 1 April 2026 to 30 September 2026 (“the Statement”), being submitted by the Parent pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). Attention is drawn to the fact that the figures for the corresponding quarter ended 30 September 2025, as reported in the Statement have been approved by the Parent’s Board of Directors, but have not been subjected to review. 2. This Statement, which is the responsibility of the Parent’s management and approved by the Parent’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “ Interim Financial Reporting ” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the entities mentioned in Annexure I to the Statement. 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review report of the other auditor referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
Page 14
B S R & Co. LLP Limited Review Report (Continued) Aequs Limited (formerly known as Aequs Private Limited) Page 2 of 4 6. We did not review the interim financial information of a subsidiary included in the Statement, whose interim financial information reflects total assets (before consolidation adjustments) of INR 1,293.62 million as at 30 September 2026 and total revenues (before consolidation adjustments) of INR 324.99 million and INR 712.44 million, total net loss after tax (before consolidation adjustments) of INR 30.81 million and INR 73.86 million and total comprehensive loss (before consolidation adjustments) of INR 30.81 million and INR 73.86 million, for the quarter ended 30 September 2026 and for the period from 1 April 2026 to 30 September 2026 respectively, and cash outflows (net) (before consolidation adjustments) of Rs. 5.98 million for the period from 1 April 2026 to 30 September 2026. as considered in the Statement. These interim financial information has been reviewed by other auditor whose report has been furnished to us by the Parent’s management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary, is based solely on the report of the other auditor and the procedures performed by us as stated in paragraph 3 above. Our conclusion is not modified in respect of this matter. For B S R & Co. LLP Chartered Accountants Firm’s Registration No.:101248W/W-100022 Sampad Guha Thakurta Partner Chennai Membership No.: 060573 26 October 2026 UDIN:26060573PSWXHT1975
Page 15
B S R & Co. LLP Limited Review Report (Continued) Aequs Limited (formerly known as Aequs Private Limited) Page 3 of 4 Annexure I List of entities included in unaudited consolidated financial results. Sr. No Name of component Relationship 1 Aequs Limited (formerly known as Aequs Private Limited) (includes Aequs Stock Option Plan Trust) Parent 2 AeroStructures Manufacturing India Private Limited Subsidiary 3 Aerospace Manufacturing Holdings Private Limited Subsidiary 4 Aequs Engineered Plastics Private Limited Subsidiary 5 Aequs Consumer Products Private Limited Subsidiary 6 Aequs Manufacturing Private Limited (formerly known as Aequs Toys Private Limited) Subsidiary 7 Aerostructures Assemblies India Private Limited Subsidiary 8 Aequs Force Consumer Products Private Limited Subsidiary 9 Aequs Aerospace BV Subsidiary 10 Aequs Oil and Gas LLC Subsidiary 11 Aequs Aerospace LLC Subsidiary of AeroStructures Manufacturing India Private Limited 12 Aequs Aero Machine Inc Subsidiary of Aequs Aerospace LLC 13 Aequs Holdings France SAS Subsidiary of Aequs Aerospace BV 14 Aequs Aerospace France SAS Subsidiary of Aequs Aerospace BV 15 Aequs Toys Hong Kong Private Limited (Liquidated with effect from 17 September 2026) Subsidiary of Aequs Engineered Plastics Private Limited
Page 16
B S R & Co. LLP Limited Review Report (Continued) Aequs Limited (formerly known as Aequs Private Limited) Page 4 of 4 16 Koppal Toys Molding COE Private Limited Subsidiary of Aequs Manufacturing Private Limited (formerly known as Aequs Toys Private Limited) 17 Aequs Rajas Extrusion Private Limited Subsidiary of Aequs Manufacturing Private Limited (formerly known as Aequs Toys Private Limited) 18 Aerospace Processing India Private Limited Joint venture 19 SQuAD Forging India Private Limited Joint venture 20 Aequs Cookware Private Limited Joint venture 21 Ajna Aerospace & Defence Private Limited Joint venture 22 Aequs Foundation Associate