Aeroflex Industries Ltd., founded in 1993 and based in Mumbai, India, is a leading manufacturer of stainless steel corrugated flexible hoses and hose assemblies. The company caters to a wide range of industries, including aerospace, defence, semiconductors, robotics, petrochemicals, natural gas, and solar energy.
On December 14, Aeroflex Industries Ltd. announced its intention to raise up to ₹400 crore by issuing equity shares through a Qualified Institutions Placement (QIP) or other allowed methods.
“The board of directors of Aeroflex Industries Limited (the company) met today, Saturday, December 14, 2024, and has approved the proposal to raise funds in one or more tranches by issuing a number of equity shares with a face value of ₹2 each for a total amount not exceeding ₹400 crore via QIP or other permissible means,” Aeroflex Industries stated in a regulatory announcement.
Fundraising Committee
The fundraising proposal received approval during the Board meeting on 14 December 2024 and is now awaiting consent from shareholders and regulatory authorities. To accelerate this process, the company has organised an Extraordinary General Meeting (EGM) scheduled for 15 January 2024.
The Board has established a specialised Fundraising Committee to finalise the specifics of the planned capital raise. Furthermore, Aeroflex Industries has declared the commencement of trial production for Phase I of its metal bellows initiative.
Aeroflex Industries Ltd demonstrated impressive results in Q2 FY 2024-25, with revenue rising by 13.47% compared to the previous year, reaching ₹95.80 crore, and experiencing a quarterly growth of 5.53%.
The company’s net profit increased by 17.96% year-on-year to ₹13.66 crore, showing a strong quarterly growth of 10.07%. Furthermore, net profit margins saw a notable improvement, climbing by 3.96% year-on-year to 14.26%, with a quarterly increase of 4.3%. This sustained growth illustrates the company’s capacity to improve profitability while achieving consistent revenue growth.
At 2:12 PM on the NSE, the share price of Aeroflex Industries Ltd. was trading at ₹220.21, a 3% intraday decrease.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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