Aequs CEO, MD, chairman, board of directors and AGM
NSE: AEQUSBSE: 544634Aerospace & DefenseSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹245.75.
- Next results date: the board meets on 26 Oct 2026 to consider: financial results.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹15,798 Cr528th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit.
- No full year
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 26 May 2026
- 10.6
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonesince listing in Dec 2025
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026. The filing of 26 May 2026
- 0.27
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 47,98,59444.9% delivered
Aequs board of directors
At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- Chairperson and chief executiveAravind S MelligeriRelated to the promoter
- Managing directorRajeev Kaul
- Company Secretary and Compliance OfficerRavi Mallikarjun Hugar
6 directors3 independent2 executive1 non-executive
- Aravind S Melligeri · Chairperson and chief executiveExecutive · joined Mar 2000 · reappointed May 2025 · 1 listed board · 1 committee seat
- Rajeev Kaul · Managing directorExecutive · joined Nov 2011 · reappointed Apr 2024 · 1 listed board · 2 committee seats
- Ajay Aravind PrabhuNon-executive · joined Jul 2003 · 1 listed board
- Eberhard Klaus RichterIndependent · joined Jun 2021 · reappointed Apr 2025 · 14 months as independent · 1 listed board · 1 as independent
- Anup WadhawanIndependent · joined Apr 2025 · reappointed Apr 2025 · 14 months as independent · 4 listed boards · 4 as independent · 6 committee seats, 3 as chair
- Vidya SarathyIndependent · joined Jan 2025 · reappointed Apr 2025 · 14 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 26 May 20266 of 6 present3 independent · 32 days in between
- 23 Apr 20266 of 6 present3 independent · 29 days in between
- 24 Mar 20266 of 6 present3 independent · 28 days in between
- 23 Feb 20266 of 6 present3 independent · 24 days in between
2 earlier meetings
- 29 Jan 20266 of 6 present3 independent · 18 days in between
- 10 Jan 20265 of 6 present3 independent
Audit Committee
Chair Vidya Sarathy
Anup Wadhawan, Rajeev Kaul
- 26 May 20263 of 3 present2 independent · 18 days in between
- 7 May 20263 of 3 present2 independent · 13 days in between
- 23 Apr 20263 of 3 present2 independent · 29 days in between
- 24 Mar 20263 of 3 present2 independent · 5 days in between
4 earlier meetings
- 18 Mar 20263 of 3 present2 independent · 22 days in between
- 23 Feb 20263 of 3 present2 independent · 24 days in between
- 29 Jan 20263 of 3 present2 independent · 18 days in between
- 10 Jan 20263 of 3 present2 independent
Nomination and remuneration committee
Chair Eberhard Klaus Richter
Ajay Aravind Prabhu, Anup Wadhawan
- 26 May 20263 of 3 present2 independent · 91 days in between
- 23 Feb 20263 of 3 present2 independent · 43 days in between
- 10 Jan 20263 of 3 present2 independent
Stakeholders Relationship Committee
Chair Anup Wadhawan
Aravind S Melligeri, Rajeev Kaul
- 12 Feb 20263 of 3 present1 independent
Risk Management Committee
Chair Vidya Sarathy
Eberhard Klaus Richter, Rajeev Kaul
- 18 Mar 20263 of 3 present2 independent
Corporate Social Responsibility Committee
Chair Ajay Aravind Prabhu
Rajeev Kaul, Anup Wadhawan
- 26 May 20263 of 3 present1 independent
Independent Director Committee
Chair Vidya Sarathy
Eberhard Klaus Richter, Anup Wadhawan
- 18 Mar 20263 of 3 present3 independent
IPO Committee
Chair Aravind S Melligeri
Rajeev Kaul, Vidya Sarathy
No meeting listed in the filing.
Administrative Committee
Ajay Aravind Prabhu, Rajeev Kaul
No meeting listed in the filing.
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Statutory auditor
Named in the results for the quarter to Jun 2026.
- BSR & Co. LLPPeer-review certificate valid to Jul 2028
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Aequs AGM and shareholder votes
Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Aequs share news and announcements
Annual general meeting, 4 Sep 2026
95,584 shareholders on the register on 28 Aug 2026; present: 3 promoters and 38 others; votes counted by Pramod S M / BMP & Co. LLP.The company's voting result (opens in a new tab)
- ADOPTION OF THE AUDITED STANDALONE AND CONSOLIDATED FINANCIAL STATEMENTS OF THE COMPANY FOR THE FINANCIAL YEAR ENDED MARCH 31, 2026 AND THE REPORTS OF THE BOARD OF DIRECTORS AND AUDITORS THEREON.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 81.75% · promoters 99.98% · institutions 79.47% · other public 4.92%
- APPOINTMENT OF MR. RAJEEV KAUL (DIN: 01468590) AS A MANAGING DIRECTOR LIABLE TO RETIRE BY ROTATION.Ordinary98.70% for1.30% against
Against: promoters 0.00% · institutions 4.84% · other public 0.01%
Turnout: all 81.75% · promoters 99.98% · institutions 79.47% · other public 4.92%
- APPOINTMENT OF M/S. BMP & CO. LLP, PRACTICISING COMPANY SECRETARIES, AS SECRETARIAL AUDITORS OF THE COMPANYOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 81.75% · promoters 99.98% · institutions 79.47% · other public 4.92%
- APPROVAL FOR ADOPTION OF AEQUS RESTRICTED STOCK UNIT PLAN 2026 AND ITS IMPLEMENTATION THROUGH TRUSTSpecial97.31% for2.69% against
Against: promoters 0.00% · institutions 9.97% · other public 0.23%
Turnout: all 81.75% · promoters 99.98% · institutions 79.47% · other public 4.92%
- APPROVAL FOR GRANT OF RESTRICTED STOCK UNITS TO THE EMPLOYEES OF THE SUBSIDIARY COMPANY(IES) OF THE COMPANY UNDER AEQUS RESTRICTED STOCK UNIT PLAN 2026Special97.31% for2.69% against
Against: promoters 0.00% · institutions 9.97% · other public 0.23%
Turnout: all 81.75% · promoters 99.98% · institutions 79.47% · other public 4.92%
- APPROVAL FOR GRANT OF RESTRICTED STOCK UNITS TO THE EMPLOYEES OF THE ASSOCIATE COMPANY(IES) OF THE COMPANY UNDER AEQUS RESTRICTED STOCK UNIT PLAN 2026Special97.31% for2.69% against
Against: promoters 0.00% · institutions 9.97% · other public 0.23%
Turnout: all 81.75% · promoters 99.98% · institutions 79.47% · other public 4.92%
- APPROVAL FOR UTILIZING THE SHARES ALREADY ACQUIRED AND HELD BY THE AEQUS STOCK OPTION PLAN TRUST FOR THE PURPOSE OF IMPLEMENTATION OF THE AEQUS RESTRICTED STOCK UNIT PLAN 2026Special97.31% for2.69% against
Against: promoters 0.00% · institutions 9.97% · other public 0.23%
Turnout: all 81.75% · promoters 99.98% · institutions 79.47% · other public 4.92%
- APPROVAL FOR PROVISION OF MONEY BY THE COMPANY TO AEQUS STOCK OPTION PLAN TRUST FOR THE PURPOSE OF IMPLEMENTATION OF ‘AEQUS RESTRICTED STOCK UNIT PLAN 2026’Special97.31% for2.69% against
Against: promoters 0.00% · institutions 9.97% · other public 0.23%
Turnout: all 81.75% · promoters 99.98% · institutions 79.47% · other public 4.92%
- APPROVAL FOR AMENDMENT OF AEQUS EMPLOYEE STOCK OPTION PLAN 2025 (ESOP 2025)Special99.08% for0.92% against
Against: promoters 0.00% · institutions 3.41% · other public 0.23%
Turnout: all 81.75% · promoters 99.98% · institutions 79.47% · other public 4.92%
- APPROVAL FOR EXTENSION OF BENEFITS OF AEQUS EMPLOYEE STOCK OPTION PLAN 2025 (ESOP 2025) TO THE EMPLOYEES OF ASSOCIATE COMPANIES OF THE COMPANYSpecial98.24% for1.76% against
Against: promoters 0.00% · institutions 6.51% · other public 0.23%
Turnout: all 81.75% · promoters 99.98% · institutions 79.47% · other public 4.92%
- APPROVAL FOR CHANGE IN THE MAIN OBJECT CLAUSE OF MEMORANDUM OF ASSOCIATION OF THE COMPANYSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 81.75% · promoters 99.98% · institutions 79.47% · other public 4.92%
- APPROVAL OF MATERIAL RELATED PARTY TRANSACTIONS WITH AEQUS SEZ PRIVATE LIMITEDOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 22.65% · promoters 0.00% · institutions 79.47% · other public 4.79%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 31 Jul 2026, 1 resolution
54,465 shareholders on the register on 26 Jun 2026; votes counted by Pramod S M / BMP & Co. LLP, Practicing Company Secretaries.The company's voting result (opens in a new tab)
To approve Scheme of Amalgamation between the Aequs Limited (“the Company”/ “Transferee Company”) AeroStructures Manufacturing India Private Limited, Aequs Engineered Plastics Private Limited and Aequs Force Consumer Products Private Limited (“Transferor Companies”/ “Wholly Owned Subsidiaries of the Company”) and their respective members and creditors under Section 233 of the Companies Act, 2013MoreLess
Special100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 88.98% · promoters 100.00% · institutions 87.65% · other public 32.26%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 27 Mar 2026, 7 resolutions
40,559 shareholders on the register on 20 Feb 2026; votes counted by Pramod S M / BMP & Co. LLP, Practicing Company Secretaries.The company's voting result (opens in a new tab)
- Ratification and amendment of Aequs Employee Stock Option Plan 2025 (ESOP 2025)Special98.42% for1.58% against
Against: promoters 0.00% · institutions 4.94% · other public 0.11%
Turnout: all 87.22% · promoters 100.00% · institutions 87.01% · other public 2.55%
- Ratification of the extension of the benefits of Aequs Employee Stock Option Plan 2025 (ESOP 2025) to the employees of holding company and subsidiary companies of the CompanySpecial97.65% for2.35% against
Against: promoters 0.00% · institutions 7.35% · other public 0.13%
Turnout: all 87.22% · promoters 100.00% · institutions 87.01% · other public 2.55%
- Approval of secondary acquisition of shares through trust route for the implementation of Aequs Employee Stock Option Plan 2025 (ESOP 2025)Special98.42% for1.58% against
Against: promoters 0.00% · institutions 4.94% · other public 0.12%
Turnout: all 87.22% · promoters 100.00% · institutions 87.01% · other public 2.55%
- Ratification of provision of funds by the Company for the purchase of its own shares by the Aequs Stock Option Plan Trust for the benefit of employees under Aequs Employee Stock Option Plan 2025Special98.42% for1.58% against
Against: promoters 0.00% · institutions 4.94% · other public 0.12%
Turnout: all 87.22% · promoters 100.00% · institutions 87.01% · other public 2.55%
- Approval for the right to nominate directors under the Shareholders Agreement dated October 12, 2023, read with its amendment and termination agreement datedSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.07%
Turnout: all 87.22% · promoters 100.00% · institutions 87.01% · other public 2.55%
- Approval for alteration of Articles of Association of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.10%
Turnout: all 87.22% · promoters 100.00% · institutions 87.01% · other public 2.55%
- Approval for material related party transactions by the Company and its wholly owned subsidiaries with Aequs SEZ Private LimitedOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.29%
Turnout: all 27.98% · promoters 0.00% · institutions 87.01% · other public 0.76%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
How mutual funds voted
Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it
Mutual fund votes, meeting of 4 Sep 2026, 4 fund houses so far (houses' deadline to file 15 Oct 2026)
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- ADOPTION OF THE AUDITED STANDALONE AND CONSOLIDATED FINANCIAL STATEMENTS OF THE COMPANY FOR THE FINANCIAL YEAR ENDED MARCH 31, 2026 AND THE REPORTS OF THE BOARD OF DIRECTORS AND AUDITORS THEREON.4 for0 against
- APPOINTMENT OF MR. RAJEEV KAUL (DIN: 01468590) AS A MANAGING DIRECTOR LIABLE TO RETIRE BY ROTATION.4 for0 against
- APPOINTMENT OF M/S. BMP & CO. LLP, PRACTICISING COMPANY SECRETARIES, AS SECRETARIAL AUDITORS OF THE COMPANY4 for0 against
- APPROVAL FOR ADOPTION OF AEQUS RESTRICTED STOCK UNIT PLAN 2026 AND ITS IMPLEMENTATION THROUGH TRUST4 for0 against
- APPROVAL FOR GRANT OF RESTRICTED STOCK UNITS TO THE EMPLOYEES OF THE SUBSIDIARY COMPANY(IES) OF THE COMPANY UNDER AEQUS RESTRICTED STOCK UNIT PLAN 20264 for0 against
- APPROVAL FOR GRANT OF RESTRICTED STOCK UNITS TO THE EMPLOYEES OF THE ASSOCIATE COMPANY(IES) OF THE COMPANY UNDER AEQUS RESTRICTED STOCK UNIT PLAN 20264 for0 against
- APPROVAL FOR UTILIZING THE SHARES ALREADY ACQUIRED AND HELD BY THE AEQUS STOCK OPTION PLAN TRUST FOR THE PURPOSE OF IMPLEMENTATION OF THE AEQUS RESTRICTED STOCK UNIT PLAN 20264 for0 against
- APPROVAL FOR PROVISION OF MONEY BY THE COMPANY TO AEQUS STOCK OPTION PLAN TRUST FOR THE PURPOSE OF IMPLEMENTATION OF ‘AEQUS RESTRICTED STOCK UNIT PLAN 2026’3 for0 against
- APPROVAL FOR AMENDMENT OF AEQUS EMPLOYEE STOCK OPTION PLAN 2025 (ESOP 2025)4 for0 against
- APPROVAL FOR EXTENSION OF BENEFITS OF AEQUS EMPLOYEE STOCK OPTION PLAN 2025 (ESOP 2025) TO THE EMPLOYEES OF ASSOCIATE COMPANIES OF THE COMPANY4 for0 against
- APPROVAL FOR CHANGE IN THE MAIN OBJECT CLAUSE OF MEMORANDUM OF ASSOCIATION OF THE COMPANY4 for0 against
- APPROVAL OF MATERIAL RELATED PARTY TRANSACTIONS WITH AEQUS SEZ PRIVATE LIMITED4 for0 against
1 proposal not matched to one resolution
- 8) Approve provision of interest free loan to Aequs Stock Option Plan Trust (ESOP Trust) for implementation of Aequs Restricted Stock unit Plan 2026 (Aequs RSU 2026) through Trust route1 for0 against
Mutual fund votes, meeting of 31 Jul 2026, 4 fund houses so far (houses' deadline to file 15 Oct 2026)
To approve Scheme of Amalgamation between the Aequs Limited (“the Company”/ “Transferee Company”) AeroStructures Manufacturing India Private Limited, Aequs Engineered Plastics Private Limited and Aequs Force Consumer Products Private Limited (“Transferor Companies”/ “Wholly Owned Subsidiaries of the Company”) and their respective members and creditors under Section 233 of the Companies Act, 2013MoreLess
4 for0 against
1 earlier meeting
Mutual fund votes, meeting of 27 Mar 2026, 10 fund houses
- Ratification and amendment of Aequs Employee Stock Option Plan 2025 (ESOP 2025)
Against Bank of India Mutual Fund, Edelweiss Mutual Fund, Motilal Oswal Mutual Fund
- Bank of India Mutual FundESOP 2025 consolidates all the other schemes of the company. The company also proposes to amend ESOP 2025 to delete all pre-IPO specific clauses and renumber the remaining clauses. The scheme has an option pool of 20.4 mn options, and the company has granted 16.4 mn options pre-IPO. The scheme provides flexibility regarding the mode of issuance: it may be implemented through a fresh issue or through the trust route. The amended scheme does not provide clarity with respect to exercise price and vesting criteria– it allows the NRC the flexibility to to determine these. In the absence of such clarity, we are unable to evaluate whether the scheme contours align with shareholders’ interests. We do not favour schemes where there is no clarity on exercise price, or where the exercise price is set at a significant discount (>20%) to market price, unless the scheme has performance-based vesting conditions with clearly defined parameters and targets. Given these reasons, we do not support the resolution.
- Edelweiss Mutual FundNon-Compliant under SEBI (SBEB & SE) Regulations: Non-disclosure of Exercise Price/ pricing formula; Absolute Discretion to NRC to determine Exercise Price. Governance Concern: Potential maximum benefit that may be granted to a single employee appears to be excessive.
- Motilal Oswal Mutual FundAbsolute Discretion to NRC to determine Exercise Price. Potential Significant Benefit arising to a single Employee.
7 for3 against - Ratification of the extension of the benefits of Aequs Employee Stock Option Plan 2025 (ESOP 2025) to the employees of holding company and subsidiary companies of the Company
Against Bank of India Mutual Fund, Edelweiss Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
- Bank of India Mutual FundThrough resolution #2, the company seeks shareholder approval for extending the benefits of ESOP 2025 to employees of holding and subsidiary companies. We support extension of the scheme to employees of unlisted holding and unlisted subsidiary companies. However, our view on this resolution is linked to our view on resolution #1.
- Edelweiss Mutual FundInterlinked with resolution #1. Governance concern: Scheme proposed to be extended to employees of Holding Company without provision for cost re-imbursement.
- Motilal Oswal Mutual FundGovernance concern: Scheme proposed to be extended to employees of Holding Company without provision for cost re-imbursement.
- Nippon India Mutual FundGovernance Concern: Scheme proposed to be extended to employees of Holding Company without provision for cost re-imbursement.
6 for4 against - Approval of secondary acquisition of shares through trust route for the implementation of Aequs Employee Stock Option Plan 2025 (ESOP 2025)
Against Bank of India Mutual Fund, Edelweiss Mutual Fund, Motilal Oswal Mutual Fund
- Bank of India Mutual FundThrough resolution #3, the company seeks approval for secondary acquisition of shares for the implementation of ESOP 2025. Our view on this resolution is linked to resolution #1.
- Edelweiss Mutual FundNo concern w.r.t. the resolution per-se. However, the Scheme is Non-Compliant under SEBI (SBEB & SE) Regulations and Interlinked with resolution #1.
- Motilal Oswal Mutual FundInterlinked with resolution #1.
7 for3 against - Ratification of provision of funds by the Company for the purchase of its own shares by the Aequs Stock Option Plan Trust for the benefit of employees under Aequs Employee Stock Option Plan 2025
Against Bank of India Mutual Fund, Edelweiss Mutual Fund, Motilal Oswal Mutual Fund
- Bank of India Mutual FundThrough resolution #4, the company seeks approval for provision of financial support to ESOP Trust for purchase of shares for secondary acquisition under ESOP 2025. Our view on this resolution is linked to resolution #1.
- Edelweiss Mutual FundNo concern w.r.t. the resolution per-se. However, the Scheme is Non-Compliant under SEBI (SBEB & SE) Regulations and Interlinked with resolution #1.
- Motilal Oswal Mutual FundInterlinked with resolution #1.
7 for3 against - Approval for the right to nominate directors under the Shareholders Agreement dated October 12, 2023, read with its amendment and termination agreement dated10 for0 against
- Approval for alteration of Articles of Association of the Company10 for0 against
- Approval for material related party transactions by the Company and its wholly owned subsidiaries with Aequs SEZ Private Limited10 for0 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- Yes
- The chair is related to the managing director
- No
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- No
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.
How money raised was used
Reported for the quarter to Jun 2026.
| Raised | Amount raised | For | Set aside | Spent | Spent elsewhere |
|---|---|---|---|---|---|
| Public IssuesDec 2025, checked by CARE Ratings Limited | 814.00 | – | – | No |