SAHASRA
Aeroflex Neu financials
- Market cap
- ₹743 Cr
- Sector
- Capital Goods
- Calls analysed
- 3
Sahasra Electro. Q4 FY26
What went well
- Consolidated revenue for FY26 reached ₹138 Crores, marking a 45% YoY growth from ₹95 Crores in FY25.
- H2 FY26 consolidated revenue showed strong momentum, growing to ₹78.1 Crores from ₹49.5 Crores in H2 FY25.
- EBITDA for FY26 significantly increased to ₹18.2 Crores (up 142.7% YoY from ₹7.5 Crores in FY25), with margins improving to 13.1% from 7.9%.
What to watch
- Strategic initiatives progressed slower than anticipated due to customer qualification and commercialization cycles.
- The company experienced tough supply chain challenges during H2 FY26.
Guidance record · Q4 FY26
what the last two calls moved 13 tracked 2 delivered 2 missed 9 open- Combined Revenue delivered, diluted said Q4 FY25 Promised: INR 180 crores in the next fiscal year Q4 FY26: Achieved INR 138 crores in consolidated revenue for FY26, exceeding the revised guidance of INR 130 crores but falling significantly short of the original INR 180 crores target.
- Standalone Profit Margin missed said Q4 FY25 Promised: Profit margins will hover around 15% Q4 FY26: Consolidated PAT margin for FY26 was 8.77%. H2 PAT margin was significantly lower at ~3.95%, indicating a sharp drop from H1 and a clear miss on the guidance to sustain ~15%.
- Combined EBITDA Margin diluted said Q4 FY25 Promised: Forecasting an EBITDA margin of about 30% Q4 FY26: Achieved 13.1% for FY26, but H2 margin dropped to 9.7%. The original 30% target remains abandoned, with new guidance for the merged entity focusing on a 15% PBT margin.
All 13 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q4 FY26: revenue up 56.0%, net profit up 250.0% against the same quarter last year.
| Line item | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 29 | 46 | 32 | 50 | 30 +2% | 61 +33% | 31 −4% | 78 +56% |
| EBITDA | 2 | 8 | 1 | -1 | 1 −55% | 11 +38% | 2 +43% | 8 +900% |
| Net profit | 0 | 2 | 0 | -4 | 1 +170% | 6 +200% | 1 | 6 +250% |
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 −13.8% 1Y
1Y: ₹344.8 on 10 Sept 2025 → ₹297.1. High ₹353.65 (26 May 2026), low ₹194.1 (30 Mar 2026).
How the price took the results
close before → close after
- Q4 FY26
- −2.9%
- 29 May
- Q2 FY26
- −4.4%
- 18 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.
Financials, as filed
Revenue grew 35.2% a year over 2 years, FY24 to FY26. Operating margin widened to 10.9%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹109 Cr | ₹157 Cr | ₹200 Cr |
| Operating profit | ₹5 Cr | ₹10 Cr | ₹22 Cr |
| Operating margin | 4.3% | 6.3% | 10.9% |
| Interest | ₹3 Cr | ₹9 Cr | ₹7 Cr |
| Depreciation | ₹2 Cr | ₹7 Cr | ₹11 Cr |
| Net profit | ₹1 Cr | ₹-2 Cr | ₹14 Cr |
| Net margin | 0.8% | -1.1% | 6.8% |
| Cash from operations | — | ₹-6 Cr | ₹-10 Cr |
| Free cash flow | — | ₹-70 Cr | ₹-19 Cr |
| ROCE | — | — | 6.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY25 | FY26 |
|---|---|---|
| Equity capital | ₹25 Cr | ₹25 Cr |
| Reserves | ₹200 Cr | ₹210 Cr |
| Borrowings | ₹57 Cr | ₹67 Cr |
| Other liabilities | ₹58 Cr | ₹75 Cr |
| Total liabilities | ₹340 Cr | ₹377 Cr |
| Fixed assets | ₹154 Cr | ₹151 Cr |
| Capital work in progress | ₹0 Cr | ₹2 Cr |
| Investments | ₹0 Cr | ₹0 Cr |
| Other assets | ₹185 Cr | ₹224 Cr |
| Total assets | ₹340 Cr | ₹377 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 Mar 2026
Since Mar 2025, the public added +2.50 pp while DIIs trimmed −2.15 pp. The shareholder count shrank 3% to 5,928.
- Promoters
- 69.9%
- FIIs
- 0.1%
- DIIs
- 0.9%
- Public
- 29.1%
Since Mar 2025
- Public +2.50 pp
- DIIs −2.15 pp
- FIIs −0.35 pp
How it drifted, 4 quarters
Over this window the public went from 18.2% to 29.1% — +10.9 pp.
Ownership split by quarter, oldest first. Oct '24: Promoters 69.9%, FIIs 3.5%, DIIs 8.4%, Public 18.2%.Mar '25: Promoters 69.9%, FIIs 0.5%, DIIs 3.0%, Public 26.6%.Sep '25: Promoters 69.9%, DIIs 1.9%, Public 28.2%.Mar '26: Promoters 69.9%, FIIs 0.1%, DIIs 0.9%, Public 29.1%.
Who bought this quarter
since Sep 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Mukul Mahavir Agrawal +0.28 pp 2.76% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of Aeroflex Neu Limited above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| Amrit Lal Manwani | 69.88% | unchanged |
| Mukul Mahavir Agrawal | 2.76% | +0.28 pp |
| Varsha B P Manwani | 0.00% | unchanged |
| Akshay Manwani | 0.00% | unchanged |
| Arunima Manwani | 0.00% | unchanged |
| Varun Manwani | 0.00% | 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.
All earnings calls (3)
Read the Q4 FY26 call →Learn to analyse Aeroflex Neu Limited
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