Aaron Industries Q1 FY27: Margin gains, capacity headroom, and a two-engine model

The investor presentation states the company manufactures elevator cabins, home lifts, automatic door systems and cabin safety frames, and also operates an in-house stainless steel processing and polishing division.

Q1FY27 revenue from operations was 24.44 crore, EBITDA was 4.99 crore (20.19% margin), and PAT was 2.56 crore (10.46% margin), as shown in the presentation and reiterated in the earnings call.

The presentation states total capacity exceeds 5,000 auto door systems per month. On the call, management said overall capacity utilisation is around 45 to 50%, and they are working towards 3,500 doors per month based on demand.

EVOQ360 is described as a smart, pit-less home lift. The presentation states it has been supplied to 25+ projects since launch. On the call, management said it contributed around 5 to 7% of total revenue in the last quarter and they plan about 150 units by end of FY27.

Management clarified on the call that STELIX is a branding strategy for the company’s stainless steel sheet products sold outside, not a separate manufacturing setup.

Management said vendor registration has started with Johnson and Kone and with Wittur, and that Fujitec has started placing regular orders on the stainless steel sheet front after sampling. Other OEM orders had not started yet at the time of the call.