AEROFLEX ENTERPRISES LIMITED

BSE: AEROENTER511076ISIN INE065D01027

Industrials
Iron & Steel Products
BSE Industrials

Share price

₹128.00+3.85 (+3.10%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹159.20
52W low: ₹62.97
Off 52W high: -19.60%
1M return: +0.99%
3M return: -3.07%
6M return: +29.69%
1Y return: +50.20%
20D avg volume: 52,171
50 DMA: ₹130.28
200 DMA: ₹106.68

Key ratios Consolidated

Market cap: ₹1,448 Cr
Current price: ₹128.00
52W high / low: ₹159.20 / ₹62.97
Face value: ₹2.00
P/E: 8.32
P/B: 1.75
EPS (TTM): ₹15.39
Book value / share: ₹73.11
ROE: —
ROCE: 11.70%
Operating margin: —
Net margin: —
Debt / equity: 0.04
Net debt: ₹-9.83 Cr
Interest cover: 22.03
Dividend yield: 0.31%
Dividend / share (TTM): ₹0.40
Payout: 2.60%
Cash conversion cycle: 142.1 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	189.00	199.58	191.42	172.35	134.48	160.83	157.30	137.79	122.61	115.42	118.24	136.98
	144.17	7.66	5.01	8.04	7.56	5.76	3.63	11.28	6.88	7.40	10.06	186.66
	333.16	207.24	196.43	180.39	142.04	166.59	160.93	149.08	129.49	122.82	128.30	323.65
	182.10	174.67	163.33	151.75	124.76	139.80	133.49	118.03	105.67	103.31	107.06	122.89
	106.72	112.92	100.28	102.58	80.40	78.88	87.21	86.18	68.66	61.95	81.77	90.54
	1.99	-1.25	4.00	5.52	2.63	13.32	4.63	1.90	2.15	5.96	0.54	3.86
	20.01	18.54	20.08	19.00	15.96	15.55	16.42	13.94	10.87	9.56	9.59	8.70
	1.33	1.10	1.65	1.25	1.26	1.15	1.41	1.69	1.34	2.20	2.18	3.31
	9.04	9.87	8.03	7.79	7.27	5.20	3.47	3.45	3.16	2.49	2.32	2.22
	50.59	29.73	31.50	28.50	22.80	21.04	25.05	21.25	19.73	18.46	17.08	18.17
	151.06	32.56	33.10	28.64	17.29	26.79	27.43	31.05	23.82	19.51	21.24	200.76
	-0.93	-0.63	0.00	-0.32	0.00	0.00	0.00	-0.13	0.00	0.00	0.00	0.00
	150.13	31.93	33.10	28.32	17.29	26.79	27.43	30.92	23.82	19.51	21.24	200.76
	46.91	6.26	8.30	7.89	2.86	8.29	5.58	8.55	5.81	5.14	6.53	25.95
	103.22	25.67	24.81	20.44	14.42	18.50	21.85	22.37	18.01	14.37	14.71	174.81
	8.54	2.12	1.42	1.24	0.90	1.64	1.93	1.98	1.59	1.27	1.30	15.46
Key metrics
	160.50	42.90	42.78	37.36	25.82	33.14	32.31	36.06	28.32	24.20	25.74	206.29
	84.90%	21.50%	22.30%	21.70%	19.20%	20.60%	20.50%	26.20%	23.10%	21.00%	21.80%	150.60%
	54.60%	12.90%	13.00%	11.90%	10.70%	11.50%	13.90%	16.20%	14.70%	12.50%	12.40%	127.60%
	—	3.30%	—	3.30%	—	3.30%	—	—	—	—	—	—
	40.50%	24.10%	21.70%	25.10%	9.70%	39.30%	33.00%	0.60%	—	—	—	—
	615.80%	38.80%	13.50%	-8.60%	-19.90%	28.70%	48.50%	-87.20%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	752.35	697.83	578.54	500.62	466.24	346.73
	164.88	28.27	27.55	277.80	15.54	4.75
	917.22	726.10	606.09	778.42	481.78	351.48
	671.85	614.50	496.99	446.67	425.48	301.21
	422.50	396.17	320.94	322.70	332.28	212.72
	10.26	10.90	18.20	10.07	8.35	20.36
	77.63	73.58	56.78	36.62	29.43	21.91
	5.33	5.26	5.58	9.82	6.89	7.37
	34.73	32.96	15.27	9.16	7.17	5.81
	140.32	112.54	87.06	69.84	65.00	36.52
	245.36	111.59	109.10	331.75	56.30	50.27
	-1.88	-0.96	-0.13	0.00	2.00	0.00
	243.48	110.64	108.97	331.75	58.30	50.27
	69.36	25.31	28.24	57.53	13.24	11.56
	174.14	85.33	80.73	274.23	45.06	38.71
	13.32	5.68	7.14	24.25	3.98	3.42
Key metrics
	283.54	148.86	129.82	350.73	72.36	63.45
	37.69%	21.30%	22.40%	70.10%	15.50%	18.30%
	23.15%	12.20%	14.00%	54.80%	9.70%	11.20%
	—	11.70%	13.50%	—	—	—
	27.43%	20.60%	15.60%	7.40%	34.50%	—
	125.75%	5.70%	-70.60%	508.60%	16.40%	—
	—	-60.54	35.99	—	—	—
	—	0.21	1.73	—	—	—
	—	0.04	0.04	—	—	—
	—	-9.83	-14.89	—	—	—
	—	142.1	157.5	—	—	—
Balance sheet
	—	1,156	975.10	—	—	—
	—	697.76	617.40	—	—	—
	—	50.42	43.87	—	—	—
	—	213.72	189.85	—	—	—
	—	159.44	130.78	—	—	—
	—	72.07	57.95	—	—	—
	—	267.67	230.30	—	—	—
	—	101.52	71.02	—	—	—
	—	164.01	128.32	—	—	—
	—	40.59	28.98	—	—	—
	—	26.86	24.36	—	—	—
	—	13.73	4.62	—	—	—
	—	962.39	823.06	—	—	—
Cash flow
	—	18.30	139.65	—	—	—
	—	-22.96	-82.55	—	—	—
	—	13.03	-98.89	—	—	—
	—	78.84	103.66	—	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	2.75	2.06	1.73	3.52	1.15	0.99	0.91	0.95	1.43	1.64	17.76	25.68
	154.02	3.75	0.77	4.71	2.42	2.95	2.92	7.00	4.78	5.12	6.00	186.52
	156.77	5.82	2.50	8.22	3.57	3.94	3.83	7.95	6.21	6.76	23.76	212.19
	25.68	1.63	1.70	3.48	1.72	1.34	2.32	1.57	1.24	2.18	17.57	25.22
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	0.89	13.43	19.98
	0.00	0.00	0.00	2.09	0.22	0.00	—	—	—	0.00	0.89	1.05
	1.80	0.93	0.99	0.87	0.74	0.61	0.69	0.60	0.56	0.45	0.52	0.44
	0.01	0.03	0.01	0.00	0.00	0.02	0.09	0.42	0.18	0.53	0.61	0.54
	0.08	0.11	0.09	0.09	0.08	0.10	0.01	0.16	0.16	0.12	0.12	0.13
	23.78	0.56	0.61	0.43	0.67	0.60	1.54	0.39	0.34	0.19	2.00	3.08
	131.08	4.19	0.80	4.75	1.85	2.60	1.51	6.37	4.97	4.58	6.19	186.98
	-0.93	-0.10	0.00	-0.32	0.00	0.00	—	—	—	—	—	—
	130.15	4.08	0.80	4.42	1.85	2.60	1.51	6.37	4.97	4.58	6.19	186.98
	38.84	0.42	0.20	0.65	1.13	2.51	0.19	1.62	1.24	1.23	1.86	22.20
	91.32	3.67	0.60	3.78	2.98	0.09	1.70	4.75	3.73	3.35	4.33	164.78
	8.07	0.34	0.05	0.33	0.26	0.01	0.15	0.42	0.33	0.30	0.38	14.57
Key metrics
	130.24	4.22	0.90	4.51	1.93	2.72	1.61	6.95	5.31	5.23	6.92	187.65
	4,736.00%	204.90%	52.00%	128.10%	167.80%	274.70%	176.90%	731.60%	371.30%	318.90%	39.00%	730.70%
	3,320.70%	178.20%	34.70%	107.40%	259.10%	9.10%	186.80%	500.00%	260.80%	204.30%	24.40%	641.70%
	—	1.10%	—	1.20%	—	0.70%	—	—	—	—	—	—
	139.10%	108.10%	90.10%	270.50%	-19.60%	-39.60%	-94.90%	-96.30%	—	—	—	—
	2,964.40%	3,977.80%	-64.70%	-20.40%	-20.10%	-97.30%	-60.70%	-97.10%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	10.06	8.46	4.28	66.77	107.46	18.49
	163.25	11.65	17.64	270.15	6.17	2.62
	173.31	20.11	21.92	336.93	113.63	21.11
	32.49	8.53	6.47	65.58	104.78	15.78
	0.00	0.00	0.00	51.10	87.58	9.18
	2.09	2.31	0.00	2.27	1.40	3.65
	4.59	3.54	2.47	1.83	1.14	0.86
	0.05	0.04	0.72	2.21	1.98	0.03
	0.37	0.37	0.42	0.51	0.55	0.36
	25.38	2.28	2.87	7.67	12.12	1.70
	140.82	11.58	15.46	271.34	8.84	5.33
	-1.35	-0.42	0.00	—	—	—
	139.45	11.16	15.46	271.34	8.84	5.33
	40.11	0.13	5.19	41.27	1.41	0.89
	99.37	11.03	10.27	230.07	7.43	4.44
	8.79	0.98	0.91	20.34	0.66	0.39
Key metrics
	139.87	11.57	16.60	274.06	11.37	5.72
	1,390.36%	136.80%	387.90%	410.50%	10.60%	30.90%
	987.77%	130.40%	240.00%	344.60%	6.90%	24.00%
	—	3.10%	4.50%	—	—	—
	151.50%	97.70%	-93.60%	-37.90%	481.20%	—
	943.80%	7.40%	-95.50%	2,996.50%	67.30%	—
	—	-69.92	15.19	—	—	—
	—	-6.27	1.95	—	—	—
	—	0.00	0.00	—	—	—
	—	-0.15	-0.29	—	—	—
	—	418.1	860.4	—	—	—
Balance sheet
	—	365.98	359.25	—	—	—
	—	150.26	184.90	—	—	—
	—	0.81	0.38	—	—	—
	—	10.37	10.67	—	—	—
	—	0.00	0.00	—	—	—
	—	13.33	13.52	—	—	—
	—	7.51	7.10	—	—	—
	—	0.68	0.58	—	—	—
	—	1.06	1.10	—	—	—
	—	0.66	0.09	—	—	—
	—	0.20	0.04	—	—	—
	—	0.46	0.05	—	—	—
	—	364.21	356.19	—	—	—
Cash flow
	—	-69.13	20.04	—	—	—
	—	72.41	11.79	—	—	—
	—	-2.85	-31.79	—	—	—
	—	0.79	4.85	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: -57.14%
Sales CAGR 5Y: —
Profit CAGR 3Y: +14.08%
Profit CAGR 5Y: —
Sales YoY (TTM): +151.50%
Profit YoY (TTM): +943.80%

Consolidated

Sales CAGR 3Y: +14.39%
Sales CAGR 5Y: —
Profit CAGR 3Y: +23.72%
Profit CAGR 5Y: —
Sales YoY (TTM): +27.43%
Profit YoY (TTM): +125.75%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 52.45%

Quarter	September 2026	June 2026
Promoter %	52.45%	52.30%

Holder	Type	Holding	Previous	Change
SAT Invest Private Limited	Promoter	44.92%	44.92%	0.00%
A Flex Invest Private Limited	Promoter Group	7.53%	7.38%	+0.15%
Space Age Polymers LLP	Public	4.51%	4.51%	0.00%
Yusuf M Kagzi	Public	4.49%	4.49%	0.00%
DA Tradetech Private Limited	Public	2.56%	2.82%	-0.26%
Lalit Jankilal Kabra	Public	1.33%	1.33%	0.00%
Jagdish N Master	Public	1.24%	1.24%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Welspun Corp Limited	63,062	2,390.60	26.60	16.70%	+13.62% TTM	+9.55% TTM	+158.46%
APL Apollo Tubes Limited	61,038	2,198.30	46.60	28.20%	+15.83% TTM	+24.90% TTM	+23.52%
Shyam Metalics and Energy Limited S	34,361	1,231.00	58.56	12.00%	+6.12% TTM	+12.47% TTM	+38.81%
Ratnamani Metals & Tubes Ltd	17,199	2,453.80	33.44	16.30%	-16.31% TTM	-8.61% TTM	+0.53%
Jindal Saw Ltd.	16,202	253.35	32.58	10.80%	-0.73% TTM	-55.61% TTM	+48.64%
Usha Martin Ltd.	14,798	485.60	29.16	18.20%	+8.54% TTM	+25.85% TTM	+2.31%
GODAWARI POWER AND ISPAT LTD.	13,845	205.65	17.14	17.90%	+8.43% TTM	+8.78% TTM	-26.21%
GALLANTT ISPAT LIMITED	12,753	528.55	31.30	18.00%	+5.52% TTM	-17.31% TTM	-5.83%
Jayaswal Neco Industries Ltd S	8,906	91.72	12.94	24.20%	+18.34% TTM	+82.81% TTM	+21.19%
Aeroflex Industries Limited	7,504	567.10	83.87	16.50%	+55.03% TTM	+87.04% TTM	+210.65%
Maharashtra Seamless Ltd.	7,450	556.00	10.11	13.00%	-12.21% TTM	-16.12% TTM	-3.03%
Sunflag Iron & Steel Co. Ltd.	7,070	392.30	34.35	3.70%	+9.35% TTM	+4.58% TTM	+48.12%
Shivalik Bimetal Controls Ltd.	6,178	1,072.50	58.24	25.00%	+27.78% TTM	+33.44% TTM	+130.55%
Technocraft Industries (India) Ltd.	6,166	2,719.40	17.69	19.30%	+12.39% TTM	+33.31% TTM	+12.14%
Man Industries (India) Ltd	5,756	767.35	28.17	16.10%	+10.75% TTM	+26.33% TTM	+94.91%
Goodluck India Limited	5,412	542.70	24.86	19.40%	+18.76% TTM	+31.22% TTM	+32.51%
SAMBHV STEEL TUBES LIMITED	4,886	165.80	25.04	17.50%	—	—	+41.23%
Bansal Wire Industries Limited	4,681	59.80	5.97	16.20%	+20.27% TTM	+2.82% TTM	-2.99%
Surya Roshni Ltd.	4,492	206.40	14.41	15.00%	+11.69% TTM	+8.34% TTM	-31.93%
Electrosteel Castings Ltd.	4,241	68.60	35.12	5.10%	-15.69% TTM	-78.91% TTM	-23.36%
Venus Pipes & Tubes Limited S	3,813	1,840.60	40.76	22.80%	+21.73% TTM	+15.01% TTM	+45.10%
Kalyani Steels Ltd	3,774	864.65	13.40	16.20%	-1.11% TTM	+8.01% TTM	+1.58%
Kirloskar Industries Ltd	3,479	3,308.30	10.24	—	+3.82% TTM	-0.15% TTM	-12.15%
Vardhman Special Steels Ltd S	3,454	356.90	21.41	13.50%	+14.75% TTM	+68.58% TTM	+20.94%
Ratnaveer Precision Engineering Limited S	3,192	380.35	41.84	13.30%	+21.02% TTM	+45.53% TTM	—
AEROFLEX ENTERPRISES LIMITED	1,448	128.00	8.32	11.70%	+27.43% TTM	+125.75% TTM	+50.20%

Filings & corporate actions

Recent announcements

Investor Presentation for the quarter and half year ended September 30, 2026.4 Nov 2026 · Company Update / Investor Presentation
Appointment of Mr. Fedrick Pinto as the Senior Management Personnel of the Company.4 Nov 2026 · Company Update / Change in Management
Un-audited Financial Results for the quarter and half year ended 30th September, 2026.4 Nov 2026 · Result / Financial Results
The Board of Directors of the Company at its meeting held today, i.e. Wednesday, November 04, 2026, inter-alia, considered and approved the following businesses: 1. Un-audited financial ....4 Nov 2026 · Board Meeting / Outcome of Board Meeting
Update on Outcome of Board Meeting of Aeroflex Neu Limited, Material subsidiary of the Company30 Oct 2026 · Company Update / General
Aeroflex Enterprises Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 04/11/2026 ,inter alia, to consider and approve the unaudited financial ....30 Oct 2026 · Board Meeting / Board Meeting
The Company has informed the exchange about the update on Board Meeting of Aeroflex Industries Limited, material subsidiary of the Company28 Oct 2026 · Company Update / General
Company has informed stock exchange about the alteration in the object clause of Memorandum of Association of the Company27 Oct 2026 · Company Update / Amendments to Memorandum & Articles of Association
Update on Acquisition of Equity Stake in Stilonn Valves and Controls Private Limited (''Stilonn) by Aeroflex Neu Limited, Material Subsidiary of the Company23 Oct 2026 · Company Update / General
Update - Approval of Acquisition of Equity Shares of Stilonn Valves and Controls Private Limited by Aeroflex Neu Limited, a material subsidiary of the Company15 Oct 2026 · Company Update / General
Update on Capacity Enhancements and Expansion Plans for Aeroflex Industries Limited, the Material Subsidiary of the Company.14 Oct 2026 · Company Update / General
Clarification on volume movement13 Oct 2026 · Company Update / General
The Exchange has sought clarification from Aeroflex Enterprises Ltd on October 13, 2026, with reference to Movement in Volume. <BR><BR>The reply is awaited.13 Oct 2026 · Company Update / Clarification
Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations 2018 for the quarter ended 30th September, 2026.7 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Intimation of Closure of trading window for the quarter and half year ended September 30, 202628 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for A Flex Invest Pvt Ltd18 Sep 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for A Flex Invest Pvt Ltd18 Sep 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
Voting Results and Scrutinizer''s Report of 41st Annual General Meeting of the Company.8 Sep 2026 · AGM/EGM / AGM
Re-appointment of Mrs. Uma Mandavgane as a Non-Executive Independent Woman Director.8 Sep 2026 · Company Update / Change in Management
Proceedings of the 41st Annual General Meeting held on Tuesday, September 08, 2026.8 Sep 2026 · AGM/EGM / AGM
Newspaper Publication for Notice of 41st AGM of Aeroflex Enterprises Limited15 Aug 2026 · Company Update / Newspaper Publication
Pursuant to Regulation 36(1)(b) of SEBI LODR Regulations 2015, the Company has sent letter providing the web link of Annual Report for the F.Y 2025-2614 Aug 2026 · Company Update / General
The Company has fixed Tuesday, September 01, 2026 as Record Date for determining the entitlement of Members for the payment of final dividend.14 Aug 2026 · Corp. Action / Record Date
The Register of Members and Share Transfer Books of the Company shall remain closed from September 02, 2026 to September 08, 2026 (both days inclusive) for the purpose of 41st AGM of the Company.14 Aug 2026 · Corp. Action / Book Closure
Annual Report of Aeroflex Enterprises Limited for the F.Y 2025-2614 Aug 2026 · Others / Reg. 34 (1) Annual Report
The AGM of Aeroflex Enterprises Limited will be held on Tuesday, September 08, 2026 at 11:00 a.m. through VC/OAVM.14 Aug 2026 · AGM/EGM / AGM
Newspaper Publication for extract of Unaudited financials results for the quarter ended June 30, 202613 Aug 2026 · Company Update / Newspaper Publication
Newspaper Advertisement for Information regarding the 41st Annual General Meeting of Aeroflex Enterprises Limited12 Aug 2026 · Company Update / Newspaper Publication
Investor Presentation for the quarter ended June 30, 2026.11 Aug 2026 · Company Update / Investor Presentation
Financial Results for the quarter ended 30th June, 2026.11 Aug 2026 · Result / Financial Results
The un-audited Standalone and Consolidated Financial Results of the Company for the quarter ended June 30, 2026, along with Limited Review Reports.11 Aug 2026 · Board Meeting / Outcome of Board Meeting
Aeroflex Enterprises Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 11/08/2026 ,inter alia, to consider and approve 1. The Un-audited Standalone ....6 Aug 2026 · Board Meeting / Board Meeting
Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations 2018 for the quarter ended June 30, 202611 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
We wish to inform you that the Board of Directors in their meeting held today i.e. June 26, 2026 inter-alia considered and approved the following: 1. Re-appointment of Mrs. Uma Mandavgane ....26 Jun 2026 · Company Update / Change in Management
Aeroflex Enterprises Limited has informed the exchange regarding the allotment of 79,200 equity shares under the SAT Industries Limited Employee Stock Option Plan 202426 Jun 2026 · Company Update / Allotment of ESOP / ESPS
Trading window for trading/dealing in the securities of the Company shall remain closed for all the Designated persons and their Immediate Relatives with effect from Wednesday, July 01, ....25 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Clarification on price movement24 Jun 2026 · Company Update / General
The Exchange has sought clarification from Aeroflex Enterprises Ltd on June 23, 2026 with reference to significant movement in price, in order to ensure that investors have latest relevant ....23 Jun 2026 · Company Update / Clarification
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for A Flex Invest Pvt Ltd19 Jun 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for A Flex Invest Pvt Ltd19 Jun 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 0.4000	1 Sep 2026	1 Sep 2026	—
Final Dividend - Rs. - 0.3000	8 Sep 2025	9 Sep 2025	—
Final Dividend - Rs. - 0.1500	12 Jul 2024	12 Jul 2024	—

Board meetings

4 Nov 2026 Board Meeting - Financial Results
11 Aug 2026 Board Meeting - Financial Results