Unimech Aerospace and Manufacturing Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Unimech Aerospace and Manufacturing Ltd filed with BSE on 08 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Unimech Aerospace reported Q1 FY27 revenue of approximately INR108 crores, up 71% year-on-year, marking its first consolidated quarter including Hobel Bellows. Management highlighted a long-term supply agreement with FACC Austria worth USD7.5 million over five years, a consolidated order book of approximately INR280 crores, and EBITDA margin of approximately 36.5%. The company also discussed progress on its Saudi Arabia joint venture with Yusuf Bin Ahmed Kanoo Group, the Dheya Engineering Technologies micro gas turbine program, and a board resolution to raise up to INR750 crores via QIP.
Numbers mentioned
Revenue: approximately INR108 crores (Q1 FY27)
p. 3
“Revenue for Q1 FY '27 stood at approximately INR108 crores, representing a growth of 71% year-on-year.”
Anil Kumar Puttan, page 3 of the filed PDF · View the filing
Consolidated order book: approximately INR280 crores (as of 30th June 2026)
p. 4
“Our consolidated order book, including Hobel Bellows, stood at approximately INR280 crores as of 30th June, marginally lower than the level indicated with the previously consolidated order book, including Hobel.”
Anil Kumar Puttan, page 4 of the filed PDF · View the filing
Nuclear order wins (cumulative): approximately INR87 crores
p. 4
“In the energy sector, our cumulative nuclear order wins now stand at approximately INR87 crores with execution planned during the second half of the financial year.”
Anil Kumar Puttan, page 4 of the filed PDF · View the filing
Revenue sequential growth: 32% (Q1 FY27 vs Q4 FY26)
p. 5
“Revenue for quarters to date approximately INR108 crores, representing 32% sequential growth over Q4 FY26 and 71% year-on-year growth.”
Ramakrishna Kamojhala, page 5 of the filed PDF · View the filing
Aero tooling share of revenue: approximately 76% (Q1 FY27)
p. 6
“From a revenue mix perspective, aero tooling contributed approximately 76% of total revenue.”
Ramakrishna Kamojhala, page 6 of the filed PDF · View the filing
Hobel Bellows share of revenue: 21% (Q1 FY27)
p. 6
“Within this, Hobel contributed 21% of total revenue.”
Ramakrishna Kamojhala, page 6 of the filed PDF · View the filing
Other income: INR7 crores (Q1 FY27)
p. 6
“Other incomes for the quarter stood at INR7 crores, approximately half the level reported in the previous quarter, primarily because a significant portion of our treasury surplus was deployed towards the acquisition of Hobel Bellows.”
Ramakrishna Kamojhala, page 6 of the filed PDF · View the filing
Gross margin: 65% (Q1 FY27)
p. 6
“Consolidated gross margins for the quarter remained healthy at 65%, supported by a favorable mix of tooling-related orders.”
Ramakrishna Kamojhala, page 6 of the filed PDF · View the filing
Subcontracting cost: approximately 3% of revenue (Q1 FY27)
p. 6
“Subcontracting cost remained low at approximately 3% of revenue, reflecting our continued focus on maximizing in-house capability utilization.”
Ramakrishna Kamojhala, page 6 of the filed PDF · View the filing
EBITDA margin: approximately 36.5% (Q1 FY27)
p. 6
“EBITDA margin for quarter was robust at approximately 36.5%, demonstrating the resilience of our business model and operational excellence.”
Ramakrishna Kamojhala, page 6 of the filed PDF · View the filing
Employee cost: 15% of revenue (Q1 FY27)
p. 6
“Employee cost stood at 15% of revenue with a total of 1,232 employees, while operating expenses were 13% of revenue, both reflecting some benefits of operating leverage as revenue continued to scale.”
Ramakrishna Kamojhala, page 6 of the filed PDF · View the filing
Depreciation: INR8 crores (Q1 FY27)
p. 6
“Depreciation for the quarter stood at INR8 crores approximately, broadly in line with our FY26 run rate.”
Ramakrishna Kamojhala, page 6 of the filed PDF · View the filing
Finance cost: INR2 crores (Q1 FY27)
p. 6
“Finance cost for the quarter stood at INR2 crores approximately, reflecting working capital borrowings.”
Ramakrishna Kamojhala, page 6 of the filed PDF · View the filing
Profit after tax: approximately INR28 crores (Q1 FY27)
p. 6
“Profit after tax for the quarter stood at approximately INR28 crores, translating into a PAT margin of 24%.”
Ramakrishna Kamojhala, page 6 of the filed PDF · View the filing
PAT growth: 46% year-on-year, 7% sequential (Q1 FY27)
p. 7
“This represents 46% year-on-year growth and 7% sequential growth over Q4 FY26.”
Ramakrishna Kamojhala, page 7 of the filed PDF · View the filing
Annualized ROCE: approximately 14.3% (Q1 FY27)
p. 7
“Annualized ROCE and ROE for the quarter stood at approximately 14.3% and 14.6% respectively, compared with FY26 level of 10% and 16%.”
Ramakrishna Kamojhala, page 7 of the filed PDF · View the filing
Working capital days: approximately 130 days (Q1 FY27)
p. 7
“Working capital days stood at approximately 130 days, slightly inching up due to new business acquisition.”
Ramakrishna Kamojhala, page 7 of the filed PDF · View the filing
Manufacturing facility utilization: approximately 58% (current)
p. 7
“For finance, our manufacturing facility are currently operating approximately 58% utilization.”
Ramakrishna Kamojhala, page 7 of the filed PDF · View the filing
Employees: 1,232 (Q1 FY27)
p. 6
“Employee cost stood at 15% of revenue with a total of 1,232 employees, while operating expenses were 13% of revenue, both reflecting some benefits of operating leverage as revenue continued to scale.”
Ramakrishna Kamojhala, page 6 of the filed PDF · View the filing
Hobel Bellows revenue: close to around INR22 crores (Q1 FY27 (two months))
p. 14
“In terms of revenue, I should say, for the two months, it has contributed close to around INR22 crores.”
Aakash Jaiswal, page 14 of the filed PDF · View the filing
Other income last year: closer on INR46 crores (FY26)
p. 14
“So, last year, we did closer on INR46 crores.”
Aakash Jaiswal, page 14 of the filed PDF · View the filing
FACC agreement value: USD7.5 million (over five years)
p. 4
“The agreement carries an initial value of USD7.5 million over a five-year period with opportunities for scope expansion over time.”
Anil Kumar Puttan, page 4 of the filed PDF · View the filing
FAIs completed: 165 (Q1 FY27)
p. 4
“We completed 165 FAIs during the quarter and initiated engagement with the 6 additional prospective customers.”
Anil Kumar Puttan, page 4 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue — Q2 FY27
stated firmly by Ramakrishna Kamojhala
p. 7
“We expect the next quarter to be stronger with higher revenue with robust EBITDA margins.”
Ramakrishna Kamojhala, page 7 of the filed PDF · View the filing
Gross block — approximately double the current value · by end of FY27
stated conditionally by Ramakrishna Kamojhala
p. 6
“Accordingly, our overall gross block by end of FY27 is expected to be approximately double the current value, primarily driven by Saudi JV investment.”
Ramakrishna Kamojhala, page 6 of the filed PDF · View the filing
Saudi JV equity infusion — approximately US$10 million · this month
stated firmly by Ramakrishna Kamojhala
p. 6
“We are in the process to infuse approximately US$10 million into JV expected to happen during this month.”
Ramakrishna Kamojhala, page 6 of the filed PDF · View the filing
Working capital days — 160 days plus · by end of this year
stated conditionally by Ramakrishna Kamojhala
p. 7
“As a result, overall working capital days could gradually increase to 160 days plus by end of this year.”
Ramakrishna Kamojhala, page 7 of the filed PDF · View the filing
Hobel and locomotive/power generation customer onboarding — end of this financial year
stated conditionally by Anil Kumar Puttan
p. 5
“Subject to successful qualification, we expect both customers to be onboarded by the end of this financial year.”
Anil Kumar Puttan, page 5 of the filed PDF · View the filing
AS9100 certification for Vizag facility — Q4 FY27
stated conditionally by Rajanikanth Balaraman
p. 9
“We have also initiated the AS9100 certification program for the Vizag facility and are targeting completion by Q4 FY27, subject to the successful completion of the required audits and certification process.”
Rajanikanth Balaraman, page 9 of the filed PDF · View the filing
Consolidated EBITDA margin — close to around 34%-35% · this financial year
stated firmly by Aakash Jaiswal
p. 14
“However, this financial year, we are seeing a better performance. So, close to around 34%-35% of margins is what we will be able to deliver for this financial year.”
Aakash Jaiswal, page 14 of the filed PDF · View the filing
Gross margin — 65% · this year
stated firmly by Aakash Jaiswal
p. 11
“So, gross margins, yes, so the number that we have always been talking about on a blended basis, we see 65% as a good sustainable number for this year.”
Aakash Jaiswal, page 11 of the filed PDF · View the filing
Hobel Bellows revenue growth — 15%-20%
stated as an aspiration by Aakash Jaiswal
p. 14
“Yes. So, what we see in this business, growth can be closer to 15%-20% that we understand.”
Aakash Jaiswal, page 14 of the filed PDF · View the filing
Other income — Q2 onwards
stated firmly by Aakash Jaiswal
p. 14
“Going forward in quarter two onwards, you will see a much lesser other income from here on.”
Aakash Jaiswal, page 14 of the filed PDF · View the filing
Asset turns — roughly between a 2.5% to 3% or more likely closer to a two and a half times · two to three year basis
stated as an aspiration by Aakash Jaiswal
p. 15
“So, hence, on a two to three year basis, we can expect asset turns roughly between a 2.5% to 3% or more likely closer to a two and a half times to say so.”
Aakash Jaiswal, page 15 of the filed PDF · View the filing
ROCE — up to or beyond 20%, 21%
stated as an aspiration by Aaksh Jaiswal
p. 15
“As the utilization improves, this can go up to or beyond 20%, 21%.”
Aaksh Jaiswal, page 15 of the filed PDF · View the filing
QIP fundraise — up to INR750 crores · next 18 months
stated conditionally by Aakash Jaiswal
p. 18
“Yes, Bhavesh. So, what we have in place is a board resolution which to raise up to INR750 crores.”
Aakash Jaiswal, page 18 of the filed PDF · View the filing
FY27 growth — FY27
stated firmly by Aakash Jaiswal
p. 11
“On an overall basis, if I should say, all the business engines or the growth drivers that we have enabled in the Unimech business platform, it's continuing to shape up well. You will see a meaningful growth happening in this financial year compared to the last financial year.”
Aakash Jaiswal, page 11 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said the INR280 crore order book represents confirmed POs, with tooling largely consumed within the quarter and nuclear orders spread across H2 and next year.
Answered by Rajanikanth Balaraman
Asked by Akshay: What is the order execution timeline and pipeline, and how is the nuclear order book expected to progress?
p. 10
“So, this INR280 crores is the confirmed order book.”
Rajanikanth Balaraman, page 10 of the filed PDF · View the filing
Management said they are dominated by aero engine tooling but did not want to disclose an exact mix, noting airframe tooling is an opportunity they continue to explore.
Answered by Aakash Jaiswal
Asked by Kishore Kumar: What proportion of revenue comes from engine tooling versus airframe tooling?
p. 12
“we are dominated with aero engine components or the aero engine tools that we supply right now.”
Aakash Jaiswal, page 12 of the filed PDF · View the filing
Management said they are already Tier-1 in semiconductors, largely Tier-2 in aerospace though sometimes Tier-1, and mixed in nuclear depending on EPC involvement.
Answered by Aakash Jaiswal
Asked by Kishore Kumar: Where does Unimech sit in the value chain for precision components in semiconductors and energy?
p. 12
“Just to clarify, we are already in the Tier-1, so we are directly dealing with the OEMs in this value chain segment.”
Aakash Jaiswal, page 12 of the filed PDF · View the filing
Management said about 50% of the current nuclear order book will be executed this financial year, mostly in H2, and reiterated consolidated margin guidance rather than segment-level margins.
Answered by Aakash Jaiswal
Asked by Chirag Kalantri: What is the nuclear order book outlook and margin comparison versus aerospace and semiconductor?
p. 13
“Okay. So right now, we have nuclear orders worth INR87 crores. I should say close to around 50% of the existing order book to be executed in this financial year, but largely this will happen in the second half of this financial year.”
Aakash Jaiswal, page 13 of the filed PDF · View the filing
Management confirmed Hobel contributed about INR22 crores over two months and said other income would decline further from Q2 onward as investable funds reduced.
Answered by Aakash Jaiswal
Asked by Charchit Maloo: What was Hobel's Q1 revenue and will other income continue to normalize?
p. 14
“Going forward in quarter two, you can expect actually half the number of what we did in quarter one.”
Aakash Jaiswal, page 14 of the filed PDF · View the filing
Management said most tooling SKUs are order-based rather than serial, while about 80% of qualified PCA parts have moved into serial production.
Answered by Rajanikanth Balaraman
Asked by Sajal Kapoor: What proportion of qualified SKUs have converted into recurring serial production orders?
p. 15
“I would say 80% of the PCA qualified parts are moving into serial production.”
Rajanikanth Balaraman, page 15 of the filed PDF · View the filing
Management indicated current ROCE of around 15-16% could rise to 20-21% as utilization improves.
Answered by Aaksh Jaiswal
Asked by Sajal Kapoor: How will utilization improvements and working capital changes affect ROCE over the next two to three years?
p. 15
“And ROCE, right now, as we indicated, it was close to around 15%, 16%. And this will remain for this calendar year also.”
Aaksh Jaiswal, page 15 of the filed PDF · View the filing
Management said new RFQs and programs typically increase revenue over time and that qualification with FACC opens doors with other Tier-1s and OEMs.
Answered by Rajanikanth Balaraman
Asked by Dev Thacker: What is the longer-term revenue scope of the FACC agreement beyond the initial USD7.5 million?
p. 16
“But as you can see in terms of order book, there is newer RFQs that come in and newer programs that come in and typically, the kind of revenue that you are going to basically make keeps increasing.”
Rajanikanth Balaraman, page 16 of the filed PDF · View the filing
Management said confidentiality prevents naming specific OEMs but confirmed progress on signed agreements and forecasted orders for engine stands.
Answered by Rajanikanth Balaraman
Asked by Harshit Chheda: Has Unimech entered talks with leap engine OEMs and what is the expected benefit?
p. 16
“But we have made progress in the sense that we have signed agreements and forecasted orders for engine stands that is ongoing.”
Rajanikanth Balaraman, page 16 of the filed PDF · View the filing
Management said the situation is too fluid to quantify but pointed to the free trade warehouse zone, European customer diversification, and the Saudi manufacturing footprint as mitigants.
Answered by Aakash Jaiswal
Asked by Bhavesh Bhatia: What is the impact of potential 100% U.S. tariffs on revenue, order flows and margins, and how is management mitigating this risk?
p. 17
“There was last year when we were seeing consequences or issues arising because of tariffs, we had initiated a free trade warehouse.”
Aakash Jaiswal, page 17 of the filed PDF · View the filing
Management said the board resolution to raise up to INR750 crores is an enabling resolution primarily for minimum public shareholding compliance and strategic flexibility, not an immediate fundraise.
Answered by Aakash Jaiswal
Asked by Bhavesh Bhatia: How will the funds from the approved QIP be utilized?
p. 18
“So, the objective for this initiation is, I would like to call it, this is primarily to provide flexibility as we work towards the achieving of our minimum public shareholding, which is due in the next 18 months.”
Aakash Jaiswal, page 18 of the filed PDF · View the filing
Risks flagged
Ongoing uncertainty around U.S. tariffs affecting revenue and margins
p. 17
“Bhavesh, as this being a very grey matter and it continues to undergo change, which each day which we are reading, it will be very difficult to quantify.”
Aakash Jaiswal, page 17 of the filed PDF · View the filing
Fluid and evolving tariff situation requiring ongoing risk hedging
p. 17
“This is a very, very fluid situation. It's evolving and we are figuring things out as it basically happens.”
Rajanikanth Balaraman, page 17 of the filed PDF · View the filing
Not all qualification programs convert into production orders
p. 4
“While not all qualifications will necessarily convert into production orders, the level of activity meaningfully expands our potential customer and program pipeline.”
Anil Kumar Puttan, page 4 of the filed PDF · View the filing
Working capital days expected to increase due to longer production and customer acceptance cycles in new programs
p. 7
“The new long-cycle aerospace programs that we are entering into and participating towards nuclear tender typically require higher inventory commitments, coupling with longer production and customer acceptance cycle before billing, which can possibly stretch working capital days.”
Ramakrishna Kamojhala, page 7 of the filed PDF · View the filing
Potential dilution from Dheya's fundraising round
p. 8
“Depending on the final structure of the transaction, our percentage ownership may see a modest dilution, which is generally part of any deep-tech investment.”
Rajanikanth Balaraman, page 8 of the filed PDF · View the filing
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