Aequs, a leading contract manufacturer, is poised to enhance its aerospace manufacturing capabilities, expand its presence in the consumer electronics market, and set up a new Maintenance, Repair, and Overhaul (MRO) facility this year. The company is also planning to add more than 1,000 employees by the end of the financial year 2025.
According to Chairman and CEO Aravind Melligeri, Aequs, which currently generates around $120 million in annual revenue, is seeing strong growth opportunities across various sectors. The company supplies integrated product solutions to industries such as aerospace and consumer goods, including precision electronics components, and counts major players like Airbus, Boeing, Collins, and Safran among its clients. Aequs also operates facilities in France and the U.S.
In its future plans, Aequs is expanding into the consumer electronics market and has formed a partnership with Canada’s Magellan Aerospace Corporation to set up the MRO facility in 2025. The facility will initially focus on turboprop engine repairs. Melligeri also noted that the company plans to shift its consumer durables focus from the domestic market to international exports.
Aequs runs a Special Economic Zone (SEZ) in Belagavi, Karnataka, which is India’s first precision engineering SEZ. The company provides a complete range of manufacturing services, including forging, machining, surface treatment, and aero assemblies. Its aerospace division employs around 1,800 staff, with plans to hire an additional 300-400 employees this year.
Overall, Aequs expects its total workforce, currently around 4,000, to grow by 1,000 people. Melligeri emphasized that precision manufacturing remains the company’s core strength. Additionally, the company is exploring opportunities in the smart ring sector as part of its consumer electronics expansion.
For fiscal year 2023-24, Aequs’ aerospace division generated $100 million in revenue, accounting for a large portion of the company’s total revenue. Looking ahead, the company aims to grow its aerospace revenue to $500 million over the next five years as part of a broader goal to reach $1 billion in total revenue.
Aequs has several joint ventures, including Aerospace Processing India Pvt Ltd (API) with Magellan Aerospace, which provides chemical processing and surface treatments, and SQuAD Forge, a partnership with Aubert & Duval of France that produces forgings in various materials. Regarding funding, Melligeri stated that the company currently has sufficient funds and may consider a rights issue if additional capital is needed.
