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₹363Cr
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AERPACE
VS
| Quarter | Sep 2023 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | | | | -100.0 | -100.0 | | | | |
| 0 | 1 | 1 | 1 | 1 | 3 | 1 | 3 | 2 |
Operating Profit Operating ProfitCr |
| -56.7 | -76.7 | | | | | | | |
Other Income Other IncomeCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Interest Expense Interest ExpenseCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation DepreciationCr | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 1 | 1 |
| 0 | 0 | -1 | -1 | -3 | -3 | -2 | -4 | -2 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|
Growth YoY PAT Growth YoY% | | | | -164.0 | -937.5 | | -88.3 | -422.7 | 5.2 |
| -83.3 | -80.0 | | | | | | | |
| 0.0 | -0.1 | -0.1 | 0.0 | -0.2 | -0.2 | -0.1 | -0.2 | -0.1 |
| Financial Year | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | | | |
| 2 | 2 | 6 | 9 |
Operating Profit Operating ProfitCr |
| | | | |
Other Income Other IncomeCr | 2 | 0 | 1 | 0 |
Interest Expense Interest ExpenseCr | 0 | 0 | 0 | 0 |
Depreciation DepreciationCr | 0 | 0 | 1 | 2 |
| 0 | -2 | -8 | -11 |
| 0 | 0 | 0 | 0 |
|
| | -1,525.1 | -301.9 | -47.3 |
| | | | |
| 0.0 | -0.4 | -0.5 | -0.7 |
| Financial Year | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 3 | 14 | 15 | 15 |
| 0 | -1 | 33 | 29 |
Current Liabilities Current LiabilitiesCr | 1 | 2 | 5 | 16 |
Non Current Liabilities Non Current LiabilitiesCr | 1 | 1 | 13 | 11 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 4 | 6 | 3 | 5 |
Non Current Assets Non Current AssetsCr | 1 | 13 | 66 | 68 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 0 | -3 | -5 |
Investing Cash Flow Investing Cash FlowCr | 0 | -3 | -37 |
Financing Cash Flow Financing Cash FlowCr | 0 | 8 | 41 |
|
Free Cash Flow Free Cash FlowCr | 0 | -4 | -22 |
| -219.7 | 185.4 | 69.6 |
CFO To EBITDA CFO To EBITDA% | 18.5 | 223.7 | 79.8 |
| Financial Year | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 17 | 173 | 370 |
Price To Earnings Price To Earnings | 135.3 | 0.0 | 0.0 |
Price To Sales Price To Sales | | | |
Price To Book Price To Book | 4.8 | 13.6 | 7.6 |
| -12.1 | -113.4 | -59.7 |
Profitability Ratios Profitability Ratios |
| | | |
| | | |
| | | |
| 5.0 | -12.0 | -11.2 |
| 3.6 | -14.5 | -15.2 |
| 2.4 | -9.7 | -10.7 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
Aerpace Industries Limited, formerly known as *Supremex Shine Steels Limited* (CIN: L74110MH2011PLC214373), has undergone a strategic transformation from a steel trading and consulting company into a next-generation aerospace and advanced mobility technology enterprise. Headquartered in Mumbai with its primary R&D and manufacturing hub in Pune, Maharashtra, the company is redefining India’s transportation future through an integrated ecosystem of air, road, and clean energy systems.
Aerpace is now focused on developing India’s most advanced drone and urban air mobility (UAM) infrastructure, positioning itself at the forefront of defense innovation, sustainable logistics, and smart transportation solutions under its flagship platforms: **aerShield** (defense), **aerWing** (transportation), and the broader **Aerpace Transportation Ecosystem**.
---
### **Strategic Vision & Core Initiatives**
#### **1. Drone City Initiative – India’s First Integrated Drone Hub (Kurnool, AP)**
- In **November 2025**, Aerpace signed a Memorandum of Understanding (MoU) with the **Andhra Pradesh Economic Development Board (APEDB)** to co-develop **Drone City** in Guttapadu, Kurnool District.
- This initiative aims to establish **India’s largest integrated drone ecosystem**, featuring:
- State-of-the-art **drone manufacturing facility**
- MRO (Maintenance, Repair, and Overhaul) and testing centers
- R&D labs for AI integration, pilot training, and autonomous systems
- Production and deployment of **large-format UAVs, kamikaze drones, ISR platforms, and VTOL cargo drones**
> *The Drone City project marks formal recognition of Aerpace’s technological leadership in aerospace and unmanned systems by the Government of Andhra Pradesh.*
---
#### **2. Defense Ecosystem: aerShield – Indigenous UAV Capability**
Aerpace’s **aerShield** program is central to India’s ‘Atmanirbhar Bharat’ (Self-Reliant India) mission in defense technology. It offers a full-spectrum suite of indigenous, AI-powered drones tailored for military and border security applications.
- **Key UAV Platforms Developed (as of Aug 2025):**
- **aerRecon ARM-5**: VTOL fixed-wing drone (2m wingspan, 5kg payload, 60 min endurance, 125 km/h speed) – ideal for rapid surveillance.
- **aerRecon ARM-10**: STOL fixed-wing drone (10kg payload, 90 min endurance) – designed for border patrol and payload delivery.
- **aerRecon ARC-50**: High-endurance reconnaissance platform.
- **aerStriker AMMO-R7 / AST-R7**: Loitering munition (kamikaze) drones for precision strike missions.
- All platforms operate on **aerOS**, Aerpace’s proprietary AI-driven control and mission management system, enabling autonomous flight, secure communication, and weapon synchronization.
- **Strategic Collaborations:**
- Partnership with **Aerpace Robotics Pvt Ltd** (Mumbai) for software development, avionics, and AI integration.
- Technical partnerships with **UAV Tech Pvt Ltd** and **Leospear Defence Pvt Ltd** to integrate airframe design, software, and munitions.
- **Global Engagement:**
- Test flights completed; live demonstrations planned with **Indian and UAE defense authorities** in 2025.
- Export-ready modular designs targeted at **Middle East and ASEAN markets**.
- Presence through **Aerpace General Trading LLC (UAE subsidiary)** to expand global footprint.
---
#### **3. Urban Air Mobility & Multimodal Transportation Ecosystem**
Launched in **September 2025**, Aerpace is pioneering a revolutionary **multimodal transportation network** that integrates hydrogen-electric aviation, ground mobility, and renewable energy infrastructure.
##### **Core Components:**
- **aerWing**: Hydrogen-powered eVTOL aircraft capable of carrying **1,800 kg payloads**, operating at 3,000–9,000 feet. Available in multiple configurations:
- **aerDrive** (private air travel)
- **aerTaxi** (public urban air transport, up to 6 passengers)
- **aerCare** (emergency medical transport)
- **aerCargo** (perishable freight logistics)
- **aerCar / Supercar**:
- Lightweight (~1 ton), fully electric SUV designed to integrate with aerWing.
- Modular 100 kWh battery system (three 33 kWh units); only one included at purchase, others rentable on-demand.
- Features **autonomous driving**, **AI integration**, and **robotic battery-swapping** at aerDocks.
- **aerDock**:
- 20-acre mobility hubs located across urban and rural districts (~2 per district nationally).
- Equipped with:
- Hydrogen fueling stations
- Solar microgrids (via AerVolt)
- Charging, maintenance, emergency response, and retail facilities
- Designed to support **rural connectivity**, **medical emergency access**, and **agricultural freight logistics**.
- **aerPower / AerVolt**:
- In-house **400 MW solar panel manufacturing line** (based in Pune), sourced from China and Germany.
- Supports energy self-sufficiency across the ecosystem.
- Production began in **January 2025**, generating early revenue to fund R&D and operations.
- **aerOS**: Proprietary **AI-driven software platform** enabling autonomous flight, fleet coordination, mission control, and AI-drone integration.
---
### **Technology & Infrastructure Development**
- **Pune R&D Center (Chakan):**
- 180,000 sq ft facility housing:
- Solar panel assembly (aerVolt)
- eVTOL and drone prototyping (aerWing)
- Automotive design studio for aerCar
- Equipped with a **Wenzel DesignTec RA Mill clay modeling machine** (Germany), delivered Nov 2024, enabling high-precision vehicle and drone prototyping.
- **Collaborations:**
- **Cavok Engineering** (France): Supporting aerWing design with expertise from 14 UAM projects and manned aircraft certifications.
- **Wenzel DesignTec GmbH**: Strategic partner in establishing India’s first high-end automotive design studio.
- **Bordrin Motors (USA)**: Technology partner for aerCar platform acquisition and lightweight EV development.
---
### **Leadership & Governance**
Aerpace has strengthened its leadership team with high-profile appointments to drive execution:
- **Mr. Gaur** – Appointed **Director** (Sep 2025)
- Over **30 years** of experience in infrastructure, logistics, and smart cities.
- Former CEO of NHAI’s Logistics arm, key figure in **GIFT City** and **Amaravati Capital City** projects.
- Currently advises **The World Bank** on PPPs and urban transport; also Distinguished Professor at **IIM Mumbai**.
- Leading rollout of pilot projects in policy-friendly Indian states with EV/drone incentives.
- **Sanjay Takale** – Director (Dec 2024)
- International motorsport veteran; bringing high-performance engineering expertise.
- Leads **aerpace Racers**, focusing on zero-emission supercars and performance mobility.
- **Mr. Ravi Soni** – Director, International Sales
- 23+ years in hydraulics/pneumatics; managing business development in **20+ countries** across Europe, Gulf, and Africa.
- **Mishal Vithlani** – VP, Process & Administration
- Telecom operations leader; implemented OMS/BMS, improved collections and retention by 30%.
- **Mandar** – Brand & Marketing Strategy
- Founder of *Humming Bees*; crafted Aerpace’s brand narrative and public visibility.
---
### **Regulatory & Government Engagement**
- Active coordination with:
- **Ministry of Civil Aviation (MoCA)** and **DGCA** – for UAM certification and airspace integration.
- **Ministry of Defence** and **Survey of India** – for defense drone deployment and aerial survey applications.
- Participating in **national policy formulation** for drones and urban air mobility.
---
### **Go-to-Market & Commercialization Roadmap**
- **Phased Rollout (5-year plan):**
1. **2025–2026**: Cargo drones and **aerCare (medical emergencies)** – initial Proof-of-Concept in select Indian states.
2. **2026–2027**: **aerCargo** and **aerTaxi** operations.
3. **Post-2027**: Full-scale **passenger air mobility** and intercity networks.
- **Exhibitions & Public Outreach:**
- Showcased physical models at **Urban Air Mobility Expo 2025 (Greater Noida)**.
- Received strong interest from **state governments** and investors for integration into public transport and emergency systems.
- **Revenue Strategy:**
- Early revenue from **solar panel sales (AerVolt)**
- Future streams from **drone exports**, **UAM services**, **battery leasing**, and **infrastructure licensing**
---
### **Key Developments Timeline (Selected Highlights)**
| Date | Milestone |
|------------|---------|
| Nov 2023 | Rebranded from steel to aerospace/tech; Supercar concept launched |
| Apr 2024 | Leased 225,000 sq ft land in Hadapsar, Pune for R&D |
| Aug 2024 | Acquired EV platform from Bordrin Motors; relocated R&D to ready facility |
| Sep 2024 | Procured solar line, milling machine; began aerCar/aerWing design with Cavok |
| Jan 2025 | Showcased ecosystem at UAM Expo; strong govt/investor engagement |
| May 2025 | Completed and tested aerRecon & aerStriker drones; MoU with UAE govt |
| Aug 2025 | Released defense drone test video; prototypes ready |
| Sep 2025 | Appointed Mr. Gaur; launched multimodal eco-system vision |
| Nov 2025 | Signed MoU for Drone City AP – pivotal step toward national footprint |