Hosur plant will set the stage for Aequs 2.0: Aequs CEO 

“We have (Aequs) version 2.0 getting launched in Hosur,” Aravind Melligeri, Executive Chairman and Chief Executive Officer, Aequs Ltd, told FE. The company plans to operationalise the first plant in Hosur during the second half of FY27-28, with revenue expected to start flowing in FY29.

Aequs last year signed an MoU with the Tamil Nadu government to set up a ₹1,900-crore facility in Hosur focused on aero-engine and complex landing-gear components. Unlike aerostructures, the company sees engine and landing-system components as offering more recurring aftermarket revenue.

Typically, an aircraft is designed to operate for around 30 years. In contrast, Melligeri said engines go through a complete overhaul five to six times during that lifetime since they run for 18 hours a day. “Aircraft engines require complete overhauls every 10,000 to 12,000 hours,” he noted.

Similarly, components such as landing-gear wheels require regular replacement. “80% of the production of the wheels today go towards the aftermarket. Only 20% goes towards OEM. That means, more aircraft out there, more demand will continue to happen,” Melligeri said.

Melligeri said the choice of Hosur is to capitalise on the ecosystem advantage. Rolls-Royce and Hindustan Aeronautics already operate a joint venture manufacturing facility in Hosur focused on producing advanced jet-engine compressor and turbine components for domestic and international aerospace programmes.

While Aequs’s Belagavi facility processes aluminium, steel and titanium, its Hosur facility will focus on harder metal superalloys like Inconel, which require different capabilities and manufacturing processes.

Aequs’ vertically integrated precision manufacturing facility in Belagavi today offers forging, precision machining, surface treatment and assembly, enabling end-to-end manufacturing of complex, high-precision components. Aequs has a portfolio of 5,740 qualified parts across engine systems, structures, actuation systems, landing systems and assemblies for global aerospace OEMs and system integrators, including Airbus, Boeing, Safran and Collins Aerospace.

The company is already expanding its presence in landing systems. Last month, Aequs signed a 15-year contract with French aerospace major Safran Landing Systems to manufacture fully integrated Airbus A320 aircraft wheels. The long-term contract came at a time when Aequs’ order book crossed $1 billion in Q1 FY27.

The global aerospace supply chain is estimated at $90 billion, with India accounting for around 2% of the market. The country is a 10% share in the global aviation supply chain. Melligeri believes the sector’s long gestation period, regulatory requirements, and stringent quality standards give Aequs an advantage, given its 15-year head start.

“It’s a long gestation capital so the ability to hit your ROCs and everything in the short run is challenging,” Melligeri says, adding that if a machining press is set up today, it takes five years to complete installation and qualification and another five years to ramp up. Customer transitions and qualifications also take time, with each part requiring qualification.

With FY26 revenue at approximately ₹1,230 crore, Aequs is targeting 4–6x revenue growth by FY31, with an 18–22% EBITDA margin target as the business scales.

Aequs has committed another ₹2,856 crore to expand aerospace and consumer manufacturing capacity across Belagavi and Hubballi. Consumer electronics accounted for approximately 19% of Q1FY27 revenue, while aerospace continued to account for the majority of revenue.

“While Aerospace will remain a core growth engine, with continued focus on scaling existing programmes and moving into higher-value and more complex components and assemblies, Consumer is expected to grow faster albeit on a smaller current base,” Melligeri says.

(The writer was in Belagavi at the invitation of Aequs)