Aequs Ltd. IPO

Pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Aequs has informed that Company’s management will be participating in the group analyst/institutional investor meeting/conference ‘Nuvama India Conference 2026’ on August 13, 2026 at 09:00 HRS – 13:00 HRS. The meeting will be held in Person - Group / One-on-One. No Unpublished Price Sensitive Information will be shared/discussed in the meeting/conference. This intimation will also be made available on the website of the Company and can be accessed using the below link: https://www.aequs.com/investor/.

Pursuant to Regulation 30 of the ‘SEBI Listing Regulations, read with Schedule III, Part A, Para A (1) of the SEBI Listing Regulations, Aequs has informed that AeroStructures Manufacturing India, a wholly owned subsidiary of the Company has been allotted with shares by Aequs Aerospace France SAS, France (wholly owned step-down subsidiary of the Company), for an investment of Euro Three Million only (approx. Indian Rupees 33.02/- Crores only). The details as required under Regulation 30(9) read with Part A, Para A of Schedule Ill of the SEBI Listing Regulations, 2015 and SEBI Circular No SEBI/HO/CFD/PoD2/I/3762/2026 dated January 30, 2026, as Annexure A. The above announcement will also be made available on the website of the Company and can be accessed using the link: https://www.aequs.com/investor/.

The above information is a part of company’s filings submitted to BSE.

The sales for the June 2026 quarter moved up 47.89% to Rs. 286.47 millions as compared to Rs. 193.70 millions during the corresponding quarter last year.The Total Profit for the quarter ended June 2026 of Rs. 34.53 millions grew from Rs.-27.85 millionsOperating profit surged to 98.67 millions from the corresponding previous quarter of 25.52 millions.

(Rs. in Million)

	Quarter ended			Year to Date			Year ended
	202606	202506	% Var	202606	202506	% Var	202603	202503	% Var
Sales	286.47	193.70	47.89	286.47	193.70	47.89	940.99	646.16	45.63
Other Income	8.41	16.62	-49.40	8.41	16.62	-49.40	59.04	63.86	-7.55
PBIDT	98.67	25.52	286.64	98.67	25.52	286.64	150.21	-223.56	-167.19
Interest	48.12	51.82	-7.14	48.12	51.82	-7.14	194.52	224.11	-13.20
PBDT	50.55	-26.30	-292.21	50.55	-26.30	-292.21	-44.31	-447.67	-90.10
Depreciation	2.66	1.55	71.61	2.66	1.55	71.61	9.68	38.69	-74.98
PBT	47.89	-27.85	-271.96	47.89	-27.85	-271.96	-53.99	-486.36	-88.90
TAX	13.36	0.00	0.00	13.36	0.00	0.00	-24.92	-81.97	-69.60
Deferred Tax	0.91	0.00	0.00	0.91	0.00	0.00	-24.92	-81.97	-69.60
PAT	34.53	-27.85	-223.99	34.53	-27.85	-223.99	-29.07	-404.39	-92.81
Equity	6.00	6.00	0.00	6.00	6.00	0.00	6.00	6.00	0.00
PBIDTM(%)	34.44	13.18	161.43	34.44	13.18	161.43	15.96	-34.60	-146.14

Robokidz Eduventures

• Robokidz Eduventures is coming out with an initial public offering (IPO) of 29,32,800 shares in a price band of Rs 100 - 106 per equity share.
• The issue will open for subscription on September 21, 2026 and will close on September 23, 2026.
• The shares will be listed on SME Platform of BSE.
• The face value of the share is Rs 10 and is priced 10.00 times of its face value on the lower side and 10.60 times on the higher side.
• Book running lead manager to the issue is GYR Capital Advisors.
• Compliance officer for the issue is Isha Shashikant Kulkarni.

Profile of the company

Robokidz Eduventures is engaged in providing technology-enabled learning and skill development solutions for K-12 students in the areas of Robotics, Artificial Intelligence (AI), Coding, Electronics and STEM (Science, Technology, Engineering and Mathematics). It primarily provides these solutions to schools and educational institutions through educational laboratory setup projects, subscription-based learning programmes and other educational services. Its offerings are supported by its proprietary digital platforms, educational kits, curriculum, teacher training and technical support, enabling educational institutions to deliver application-based and experiential learning. Through its integrated approach, it combines laboratory infrastructure, practical learning resources and digital learning tools to support hands-on learning and help students develop scientific aptitude, logical reasoning and technical skills. Its business model is built on a two-tier revenue architecture. Educational Laboratory Setup Projects establish its initial engagement with an institution through the design, supply and installation of technology-enabled learning infrastructure, while its subscription services and other educational services are designed to convert this initial engagement into a sustained, recurring relationship.

Its business activities are undertaken through educational laboratory setup projects vertical, subscription services vertical & other educational services vertical. In addition, it operates a franchise model under the YEA (Young Engineers Academy) brand through its wholly owned subsidiary, Robokidz Retails (RRPL), through which it expands its presence to establish and operate activity centres. Under this model, it provides franchisees with access to curriculum, teacher training, learning kits, digital platforms, operational guidance and marketing support, enabling the delivery of standardized robotics, AI, coding and STEM education while facilitating the growth of its activity centre network in various locations. As part of the expansion strategy, it has established its Activity Center in Malad (West), Mumbai and Baner, Pune under its franchise model. In addition, it also operates two more Activity Centers managed directly by the company and its subsidiary, enabling it to expand its reach while maintaining standardized delivery of its robotics, AI, coding and STEM education programmes.

It delivers its solutions through an integrated ecosystem comprising schools, educational institutions, government and semi government organizations, activity centres and direct learner engagement across India. It undertakes projects awarded by government bodies, departments and agencies, including the establishment and implementation of Atal Tinkering Labs (ATLs), either directly or through channel partners. Its offerings are aligned with the objectives of the National Education Policy, 2020 (NEP 2020), which include STEM, robotics, AI and coding solutions designed to support these educational institutions in delivering experiential and competency-based learning. It has obtained various certifications, including ISO 14001:2015, ISO 9001:2015, ISO 21001:2018, ISO 45001:2018, ISO 50001:2018 and ISO/IEC 27001:2022, in relation to its operations. In addition, it holds certifications and compliances such as ROHS (EU) 2015/863, Greenguard Compliance and BIFMA (Business and Institutional Furniture Manufacturers Association). Its operations are conducted in accordance with applicable laws and regulations.

Proceed is being used for:

• Funding the working capital requirements of the company
• Pre-payment or repayment of all or a portion of certain outstanding borrowings availed by the company
• Meeting general corporate purposes

Industry overview

India has the largest population in the world in the age bracket of 5-24 years, with nearly 580 million people, offering immense opportunities for the education sector. The country holds a prominent position globally, with one of the largest networks of higher education institutions, comprising over 53,461 colleges and 1,409 universities as of FY26 (as of February 2026). Despite this vast base, there remains considerable scope for expansion and qualitative improvement in the system. In recent years, growing awareness and aspirations have led private players to collaborate with international brands to bring global standards of education to India. Private investments have surged, supporting the rising demand for specialised, industry-focused degrees and online programmes tailored to consumer needs. The Indian edtech market, already valued at $7.5 billion, is projected to grow nearly fourfold by 2030, highlighting the sector’s rapid digital shift. 

The education market in India is expanding at a rapid pace, projected to reach $313 billion by FY30, up from $117 billion in FY23. Within this, higher education alone was valued at Rs 5,75,000 crore ($68.06 billion) in 2024 and is expected to nearly double to Rs 11,60,000 crore ($134.84 billion) by 2033, growing at a CAGR of 8.1%. The K-12 segment, valued at $48.9 billion in 2023, is also on a high-growth trajectory and is estimated to reach $125.8 billion by 2032 at a CAGR of 10.7%.

With the adoption of transformative technologies such as AI, ML, IoT, and blockchain, India’s education sector is steadily redefining itself. The Education 4.0 revolution, which emphasises inclusive learning and employability, is already underway. Government initiatives like the National Education Policy (NEP), now in phased implementation since FY22, are set to further reshape the system with a strong focus on high-quality vocational and skills-based education, preparing India’s youth for the demands of a dynamic global economy. Further, various government initiatives are being adopted to boost the growth of the distance education market, besides focusing on new education techniques such as E-learning and M-learning. The Government of India has taken several steps including opening of IITs and IIMs in new locations, as well as allocating educational grants for research scholars in most government institutions. Furthermore, with the online mode of education increasingly being used by several educational organisations, the higher education sector in India is set for major change and development in the years to come.

Pros and strengths

Integrated Business Model with End-to-End Solutions: It provides integrated solutions comprising laboratory setup, curriculum design, training modules and academic support services, enabling educational institutions to implement robotics and artificial intelligence-based learning programs through a single service provider. This reduces dependency on multiple vendors and supports consistency in delivery, quality standards, and implementation timelines. Its integrated approach covers the entire lifecycle of a project, including requirement assessment, infrastructure setup, content delivery, teacher training and ongoing academic and technical support. This enables coordination between infrastructure and curriculum components to facilitates seamless execution, while also supporting long-term engagement with customers. 

Structured project management, experienced management team and operational capabilities: It employs structured project management methodologies supported by experienced project management teams, standardized protocols and project management tools, enabling effective planning, monitoring and execution of projects. Its experienced management team actively contributes to strategic planning, business development and project execution, enabling it to efficiently manage projects across multiple geographies while adhering to defined timelines and quality standards. 

Proven track record in executing educational laboratory setup projects: It has established a proven track record in executing Educational Laboratory Setup Projects, which has been a key driver of its business growth and financial performance. Its capabilities span the end-to-end design, supply, installation and implementation of AI, Robotics and STEM laboratory solutions for educational institutions and government-supported initiatives across India. Over the last three Fiscals, Educational Laboratory Setup Projects have consistently been the principal contributor to its revenue from operations, reflecting its execution capabilities, technical expertise and ability to successfully deliver projects in accordance with customer requirements. Its experience in implementing projects for schools, colleges and government-supported programmes has enabled it to develop strong domain knowledge, standardized execution processes and long-standing customer relationships.

Risks and concerns

Dependence on channel partners and institutions: It depends on arrangements with schools, educational institutions and channel partners for sourcing student enrolments for its training programs across various locations. Its ability to maintain and expand its operations is dependent on its ability to continue existing arrangements on commercially acceptable terms and establish new relationships with schools, institutions in existing and new geographies. These arrangements with schools, educational institutions and channel partners for student enrolments are not formalised through written agreements, contracts or memoranda of understanding. Such arrangements are based on mutual understanding and agreed commercial terms between the company and the respective parties. Further, schools, institutions and its channel partners may choose to engage with other service providers, conduct similar programs internally, or discontinue such programs due to changes in their academic priorities, budgets, management policies or regulatory requirements.

Geographical concentration of revenue in Maharashtra: Its operations and revenue generation are concentrated in certain states in India, particularly Maharashtra. For Fiscal 2026, Fiscal 2025 and Fiscal 2024, revenue generated from Maharashtra constituted 53.04%, 87.28% and 89.86%, respectively, of its revenue from operations. In addition, it has derived revenue from other states including Delhi, Kerala, Uttar Pradesh, and Gujarat during the aforesaid periods. Its financial performance is therefore dependent, to a significant extent, on the demand for its training programs, operational continuity and economic conditions prevailing in such regions. Any adverse developments affecting such regions may adversely affect its business, results of operations and financial condition.

Revenue reliance on limited number of customers: It depends on a limited number of customers for a significant portion of its revenue from operations. Its top ten customers contribute 77.99%, 92.95%, and 96.60% of its total revenue from operations for the financial year ended on March 31, 2026, 2025 and 2024, respectively. Its business operations are dependent on its customers and the loss of any of its customers may adversely affect its sales and consequently on its business and results of operations.

Outlook

Robokidz Eduventures is engaged in the business of providing technical education to educational institutions, developing scientific toys and kits for educational institutions. It has established its presence across multiple geographies, with revenue generated from different regions over the last three fiscal years. This geographic diversification reduces dependence on a single region and supports operational stability. On the concern side, it does not have binding long-term agreements with a majority of its customers, and its business is dependent on its ability to maintain strong customer relationships and engagements. Its customers may, at their discretion, discontinue their orders, choose not to renew or continue their subscriptions or service engagements, renegotiate commercial terms, or engage other providers offering similar education solutions, its business and operational results could be negatively impacted.

The company is coming out with a maiden IPO of 29,32,800 equity shares of face value of Rs 10 each. The issue has been offered in a price band of Rs 100 - 106 per equity share. The aggregate size of the offer is around Rs 29.33 crore to Rs 31.09 crore based on lower and upper price band respectively. On performance front, revenue from operations increased 58.67% from Rs 5,875.28 lakh in Fiscal 2025 to Rs 9,322.31 lakh in Fiscal 2026.  Profit after tax increased 102.02% from Rs 497.82 lakh in Fiscal 2025 to Rs 1,005.69 lakh in Fiscal 2026.

Meanwhile, it intends to expand its educational laboratory setup business by increasing its presence across educational institutions in India, particularly in Tier I and Tier II cities. It plans to leverage its project execution capabilities, operational experience, established relationships with educational institutions and its network of channel partners to identify and execute laboratory setup opportunities across multiple geographies. Going forward, the company intends to expand its retail segment to enhance direct engagement with students and parents outside the formal school environment. This includes conducting workshops, short-term training programs, and structured learning modules through offline, online and hybrid formats. By offering flexible, modular, and age-appropriate programs, it aims to cater to a wider learner base, including hobbyists, beginners, and advanced learners.