Aeroflex Industries Ltd IPO

Aeroflex Industries Limited was originally incorporated as `Suyog Intermediates Private Limited' as a private limited company under the Companies Act, 1956 with the Registrar of Companies, Maharashtra, Mumbai vide certificate of incorporation dated October 19, 1993. Pursuant to special resolution passed by shareholders of the Company in extra-ordinary general meeting dated October 03, 1998, the name of the Company was changed to `Aeroflex Industries Private Limited' and a fresh certificate of incorporation dated October 28, 1998 was issued by Registrar of Companies Maharashtra, Mumbai. Subsequently, pursuant to a special resolution passed by shareholders of the Company in the extra-ordinary general meeting dated July 25, 2006 our Company was converted from a private limited company to a public limited company and consequently the name of the Company was changed to `Aeroflex Industries Limited', and a fresh certificate of incorporation dated August 23, 2006 was issued to the Company by the Registrar of Companies, Maharashtra, Mumbai.

Traditionally, the demand for Flexible Flow Solutions made with Stainless Steel Corrugation was largely driven by the industrial sector- manufacturing plants and manufacturing products from chemicals to paper. HVAC applications too were a major consumer, although the scale of business generated by this segment was lower compared to its industrial counterpart. The steady growth in industrial activity amidst some disruption along with the slow but steady transition from rubber/PTFE/polymer flexible hoses have resulted in a favorable demand landscape for Flexible Flow Solutions made with Stainless Steel Corrugation manufacturers.

Aeroflex Industries Limited is manufacturers and suppliers of environment friendly metallic flexible flow solution products including braided hoses, unbraided hoses, solar hoses, gas hoses, vacuum hoses, braiding, interlock hoses, hose assemblies, lancing hose assemblies, jacketed hose assemblies, exhaust connectors, exhaust gas recirculation (EGR) tubes, expansion bellows, compensators and related end fittings collectively known as flexible flow solutions catering to global as well as domestic markets. The Company exports its products to more than 80 countries including Europe, USA and others. For Fiscals 2023,2022 and 2021 its exports were Rs. 2,171.80 million, Rs. 2,035.59 million and Rs. 1,171.15 million which constituted 80.60%, 84.53%, and 80.90% of its revenue from operations respectively. The Company supplies its products to a wide spectrum of industries for controlled flow of all forms of substances including air, liquid and solid. For the Fiscals March 31, 2023, 2022 and 2021, the company served total 723, 606 and 538 customers out of which it served 217, 190 and 169 customers across 51, 49 and 43 countries respectively and 506 , 416 and 369 domestically. Flexible flow solutions play a critical role in transfer of substances (air, liquid and solid) in any industrial or commercial ecosystem, connecting the origin and end points of various processes. For example, flow solution products are required in fire sprinklers, gas supply, flow of air (conditioned / controlled) in aircrafts, fueling and hydraulics in aircrafts. Its capabilities to provide customised solutions up to the assemblies level enable it to tap flexible flow solutions value chain. Its product categories include braided hoses, unbraided hoses, solar hoses, gas hoses, vacuum hoses, braiding, interlock hoses, hose assemblies, lancing hose assemblies, jacketed hose assemblies, exhaust connectors, exhaust gas recirculation (EGR) tubes, expansion bellows, compensators and related end fittings. As on March 31, 2023, it had more than 1,700 Product SKUs (Stock Keeping Units) in its product portfolio.