Aeroflex Neu LimitedQ2 FY27 Results & Financial Update
Aeroflex Neu Limited: Q2 FY27 consolidated results and company financials – revenue ₹35.75 Cr, PAT ₹-3.92 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Aeroflex Neu Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
For the second quarter of fiscal 2027 ended September 30, 2026, Aeroflex Neu reported consolidated revenue from operations of ₹35.75 crore, marking a sequential expansion of 26.58% compared to ₹28.24 crore in the preceding quarter ended June 30, 2026.
The quarter's financial performance was heavily impacted by exceptional items. The company recorded a net exceptional loss of ₹446.33 crore, primarily driven by the divestment and disposal of its subsidiary Fibcorp Polyweave Private Limited effective September 7, 2026, for a sale consideration of ₹192.12 lakhs.
During the quarter, the company actively reshaped its corporate structure by divesting its entire stake in Fibcorp Polyweave Private Limited and concurrently announcing an expansion into the wire and cable industry through a definitive agreement to acquire a 55% stake in Aerolex Cables Private Limited.
Segment-wise, the core Flexible Packaging Solution Activity generated ₹33.80 crore in revenue with a segment operating loss before interest and tax of ₹1.37 crore, while the Engineering Activity contributed ₹1.60 crore in revenue with a segment profit of ₹1.51 crore.
01 · Business model
What does Aeroflex Neu do?
Aeroflex Neu Limited (formerly known as Sah Polymers Limited) operates primarily in the flexible packaging solution activity, manufacturing woven sacks and related industrial packaging products for diverse domestic and international clients.
The company has pursued strategic diversification into engineering activities and precision components, notably expanding its footprint toward high-tech sectors including AI infrastructure and data center applications.
Geographically, the company serves a mix of domestic and international markets, distributing its flexible packaging products across multiple regions while restructuring its subsidiary portfolio.
02 · Historical context
What shaped the business before this quarter
Previously known as Sah Polymers Limited, the company transitioned its name to Aeroflex Neu Limited to reflect its broader strategic alignment toward high-tech engineering segments.
03 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹35.75 Cr | ₹28.24 Cr |
| Total income | ₹36.50 Cr | ₹28.91 Cr |
| Profit before tax | ₹0.51 Cr | ₹0.18 Cr |
| Profit after tax | ₹-3.92 Cr | ₹0.08 Cr |
| EPS | ₹-1.51 | ₹0.02 |
Financial interpretation
What the reported numbers mean
Profit after tax represented -11.0% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 1.4% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹0.76 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from operations increased by 26.58% sequentially to ₹35.75 crore in Q2 FY27 from ₹28.24 crore in Q1 FY27, largely driven by recovery and expansion in core flexible packaging deliveries and newly integrated engineering revenue streams.
Flexible packaging solution activity delivered ₹33.80 crore during the quarter, while engineering activity contributed ₹1.60 crore and other operating streams added ₹0.35 crore.
What drove margins
Cost of materials consumed stood at ₹21.44 crore, alongside purchases of stock-in-trade of ₹0.19 crore and inventory adjustments of -₹1.19 crore, reflecting dynamic raw material utilization during the quarter.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Generated revenue of ₹33.80 crore with a segment loss before interest and tax of ₹1.37 crore and segment assets of ₹100.88 crore as of September 30, 2026.
Contributed ₹1.60 crore in revenue with a positive segment result before interest and tax of ₹1.51 crore, demonstrating improving traction in specialized engineering lines.
Geography and market mix
During the half year ended September 30, 2026, the company recorded ₹26.21 crore of capital employed in India and ₹39.20 crore outside India, showing an established international market presence.
06 · Strategy & new businesses
How the company is trying to change its growth mix
The board approved entering the wire and cable manufacturing and exporting business through the acquisition of 1,10,000 equity shares (55% stake) in Aerolex Cables Private Limited for a cash consideration of ₹3,100 lakhs, positioning the company to serve the AI infrastructure and data center sectors.
Divested the entire stake in Fibcorp Polyweave Private Limited effective September 7, 2026, for ₹192.12 lakhs, recognizing an exceptional loss on disposal of ₹446.33 lakhs at the consolidated level.
07 · Reported developments
What changed operationally
Operational revenue grew by 26.58% quarter-on-quarter to ₹35.75 crore, indicating rebound momentum in order execution.
08 · Items worth noticing
The line items that can distort a quick read
An exceptional loss of ₹446.33 lakh was recorded at the consolidated level following the divestment and cessation of subsidiary Fibcorp Polyweave Private Limited.
09 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Net cash inflow from operating activities for the half year ended September 30, 2026, was reported at ₹74.84 crore, aided by significant inventory adjustments.
Net cash outflow from investing activities stood at ₹122.77 crore for the half-year period, primarily driven by fixed deposit movements and share investments.
Capital allocation & funding
Current borrowings stood at ₹17.96 crore and non-current borrowings at ₹1.58 crore as of September 30, 2026.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
Name Change and Corporate Identity
The company continues its operational transition following its name change from Sah Polymers Limited to Aeroflex Neu Limited, aligning its corporate identity with broader high-tech manufacturing objectives.
11 · Previous-quarter changes
What changed since the previous quarter
Operating revenue increased from ₹28.24 crore in Q1 FY27 to ₹35.75 crore in Q2 FY27.
12 · Key Q&A
The quarter, answered directly
What does Aeroflex Neu do?
Aeroflex Neu Limited (formerly known as Sah Polymers Limited) operates primarily in the flexible packaging solution activity, manufacturing woven sacks and related industrial packaging products for diverse domestic and international clients.
What is the clearest takeaway from Q2 FY27?
For the second quarter of fiscal 2027 ended September 30, 2026, Aeroflex Neu reported consolidated revenue from operations of ₹35.75 crore, marking a sequential expansion of 26.58% compared to ₹28.24 crore in the preceding quarter ended June 30, 2026.
What drove revenue or demand?
Revenue from operations increased by 26.58% sequentially to ₹35.75 crore in Q2 FY27 from ₹28.24 crore in Q1 FY27, largely driven by recovery and expansion in core flexible packaging deliveries and newly integrated engineering revenue streams.
What mattered most for margins or profitability?
Cost of materials consumed stood at ₹21.44 crore, alongside purchases of stock-in-trade of ₹0.19 crore and inventory adjustments of -₹1.19 crore, reflecting dynamic raw material utilization during the quarter.
What changed operationally beyond the headline numbers?
The board approved entering the wire and cable manufacturing and exporting business through the acquisition of 1,10,000 equity shares (55% stake) in Aerolex Cables Private Limited for a cash consideration of ₹3,100 lakhs, positioning the company to serve the AI infrastructure and data center sectors.
What should the next disclosure help confirm?
Monitor the formal completion of the first tranche acquisition of 55% shareholding in Aerolex Cables Private Limited within the stipulated 60-day timeframe.
13 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
Build your own next-quarter scenario
Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.
Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
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Scenario profit after tax₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%
The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
14 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Aerolex Cables Acquisition Completion: Monitor the formal completion of the first tranche acquisition of 55% shareholding in Aerolex Cables Private Limited within the stipulated 60-day timeframe.
- 02
Core Segment Turnaround: Track the operating margin progression and profitability turnaround of the flexible packaging solution activity in subsequent quarters.
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Need the concepts first?
Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.