SAHANA

Aeroflex Neu financials

Market cap
₹959 Cr
Sector
Information Technology
Calls analysed
1
Latest concall · Q2 FY26 · call held 17 Nov 2025

Sahana Systems Q2 FY26

Consolidated Revenue ₹114 cr Consolidated EBITDA 33% Consolidated PAT 24%

What went well

  • Consolidated revenue for H1 FY26 was INR 114 crores, demonstrating tremendous growth.
  • Consolidated EBITDA for H1 FY26 was 33%, with PAT increasing to 24%.
  • Acquired a prestigious project with the Indian Navy for RF testing and chip point-of-contact design.

What to watch

  • Ambiguity regarding the revision of long-term revenue projections, with differing figures cited by management and analysts.
  • Lack of specific quantification for the order book, despite management confirming its existence for the next 1.5-2 years.
Read the full call →

Guidance record · Q2 FY26

what the last two calls moved 5 tracked 0 delivered 0 missed 5 open
  • Consolidated Revenue open said Q2 FY26 Promised: >INR 350 crores by next financial year (FY27) Q2 FY26: projecting the overall revenue growth, which will cross more than 400 INR350 crores by next financial year

All 5 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q4 FY26: revenue up 425.0%, net profit up 218.2% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY23Q4 FY23Q2 FY24Q4 FY24Q2 FY25Q4 FY25Q2 FY26Q4 FY26
Revenue7 17 22 32 42 +500%66 +288%69 +214%168 +425%
EBITDA2 8 5 14 13 +550%11 +38%19 +280%48 +243%
Net profit2 4 4 11 10 +400%7 +75%13 +225%35 +218%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −24.7% 1Y

₹0.8k₹1.0k₹1.2kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 17 Nov 2025

1Y: ₹1,200.45 on 10 Sept 2025 → ₹904.45. High ₹1,232.8 (16 Sept 2025), low ₹706.25 (13 Jan 2026).

How the price took the results

close before → close after

Q2 FY26
−1.1%
17 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹0 Cr₹3 Cr₹6 Cr₹8 Cr₹9 Cr₹9 Cr
Reserves₹0 Cr₹1 Cr₹5 Cr₹45 Cr₹193 Cr₹189 Cr
Borrowings₹7 Cr₹5 Cr₹5 Cr₹13 Cr₹14 Cr₹29 Cr
Other liabilities₹0 Cr₹5 Cr₹9 Cr₹22 Cr₹71 Cr₹73 Cr
Total liabilities₹8 Cr₹14 Cr₹24 Cr₹88 Cr₹287 Cr₹301 Cr
Fixed assets₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹51 Cr₹30 Cr
Capital work in progress₹1 Cr₹1 Cr₹1 Cr₹14 Cr₹2 Cr₹21 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹23 Cr₹18 Cr₹73 Cr
Other assets₹7 Cr₹13 Cr₹23 Cr₹50 Cr₹217 Cr₹177 Cr
Total assets₹8 Cr₹14 Cr₹24 Cr₹88 Cr₹287 Cr₹301 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Aug 2026

Since Sep 2025, the public trimmed −0.79 pp while FIIs added +0.53 pp. The shareholder count grew 6% to 3,468.

Promoters
57.3%
FIIs
0.8%
DIIs
0.8%
Public
41.1%

Since Sep 2025

  • Public −0.79 pp
  • FIIs +0.53 pp
  • DIIs +0.25 pp

How it drifted, 12 quarters

Over this window promoters fell from 62.9% to 57.3% — −5.6 pp.

Dec '23Mar '25Aug '26

Ownership split by quarter, oldest first. Dec '23: Promoters 62.9%, DIIs 0.6%, Public 36.5%.Mar '24: Promoters 62.9%, DIIs 0.6%, Public 36.5%.Jun '24: Promoters 62.9%, FIIs 0.0%, DIIs 0.6%, Public 36.5%.Sep '24: Promoters 61.0%, FIIs 0.1%, DIIs 0.6%, Public 38.3%.Dec '24: Promoters 58.0%, FIIs 0.2%, DIIs 0.9%, Public 40.9%.Mar '25: Promoters 57.1%, FIIs 0.2%, DIIs 0.6%, Public 42.1%.Jun '25: Promoters 57.2%, FIIs 0.3%, DIIs 0.5%, Public 42.0%.Sep '25: Promoters 57.3%, FIIs 0.2%, DIIs 0.6%, Public 41.9%.Dec '25: Promoters 57.3%, FIIs 0.2%, DIIs 0.6%, Public 41.9%.Mar '26: Promoters 57.3%, FIIs 0.7%, DIIs 0.6%, Public 41.4%.Jun '26: Promoters 57.3%, FIIs 1.0%, DIIs 0.6%, Public 41.1%.Aug '26: Promoters 57.3%, FIIs 0.8%, DIIs 0.8%, Public 41.1%.

Who was buying across the market this quarter →

Who is on the register

Named in the Aug 2026 filing

Every holder of Aeroflex Neu Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.

HolderStakeChange
Pratik Ramjibhai Kakadia 49.95%unchanged
Dipak Kanaiyalal Patel 6.15%unchanged
Shardaben R Kakadia 3.73%unchanged
Hetal Pratikbhai Kakadiya 2.88%unchanged
G Gunavanth Kumar 2.68%unchanged
Ramajibhai P Kakadia 0.76%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Growth the price implies
4.2% a year
for 7 years, fading to 4%
It has actually compounded at
Not enough history
The gap
—
between what it did and what it must do
Price today ₹904.45

Change the assumptions yourself →

Learn to analyse Aeroflex Neu Limited

Guides on how to read this kind of business and the numbers that matter.