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Aerpace Industries Ltd has filed its 14th Annual Report for the year ended 31 March 2025. The company describes itself as building a 'national flying system' for inter-city and inter-state travel, but its financials deteriorated sharply. On a standalone basis, total income rose to Rs. 302.06 lakhs from Rs. 150.83 lakhs, yet the net loss widened to Rs. (483.67) lakhs from Rs. (129.35) lakhs. On a consolidated basis, the net loss deepened to Rs. (739.43) lakhs versus Rs. (165.40) lakhs a year earlier. No dividend has been recommended. The board raised roughly Rs. 44.61 crores during the year via two preferential allotments to non-promoter investors (1.28 crore shares at Rs. 19.71 and 43.57 lakh shares at Rs. 44.36). Ravi Soni was appointed Executive Director, the statutory auditor was changed from Singrodia & Co LLP to Ramanand & Associates, and an ESOP scheme (Aerpace RSU 2024) was approved though no options were granted yet.
Widening losses and skipped dividend point to continued financial strain, but the sizeable preferential fundraising gives the company runway to keep developing its proposed flying transport concept. Existing shareholders should be aware of rising cash burn and dilution risk despite the fresh capital infusion.