Aeries Technology, Inc.

Aeries Technology, Inc.

Company overview

Aeries Technology, Inc. is a global professional services and technology consulting firm that establishes and operates Global Capability Centers (GCCs) for private equity‑backed portfolio companies and mid‑market, technology‑enabled enterprises. Its services span the GCC lifecycle from strategic planning and setup to ongoing operations and governance, with an emphasis on AI‑enabled transformation, process optimization, and strategic talent acquisition in cost‑advantaged regions.

Business model and services

• GCC establishment and operations
  • Turnkey setup and management of GCCs in cost‑effective markets.
  • Two ownership frameworks:
    • Managed & Operated: Aeries runs the GCC with a potential future transfer (build‑operate‑transfer model).
    • Client‑Controlled Entity: the client owns the center from inception.
• GCC enhancement modules
  • Optimization of underperforming functions, creation of Centers of Excellence, cross‑functional improvements, shared services, and talent augmentation.
  • Pricing options include time & materials and outcome‑based models.
• GCC strategic advisory and consulting
  • Lifecycle strategy, operating model design, regulatory and compliance planning, workforce strategy, technology infrastructure and automation strategy, and change management.
• Business function expertise
  • Technology, finance & accounting, business applications, IT infrastructure, customer service operations, cybersecurity.
• AI‑enabled transformation
  • Proprietary platform and services for engagement setup, talent acquisition, delivery monitoring, governance, AI strategy, intelligent automation, predictive analytics, and process optimization.

Platform

• A1 GCC is a proprietary platform that integrates automation, data analytics, and AI to manage GCC initiatives. It supports integration with client ERP and HR systems and provides unified governance for engagements.

Market and customers

• Primary market: North America, serving the private equity ecosystem and mid‑market enterprises.
• Customer base: more than 40 clients as of March 31, 2026.
• Customer concentration: the top five clients accounted for 57% of revenue in the fiscal year ended March 31, 2026 (and a similarly high concentration in 2025).
• Global footprint: delivery centers in India (Hyderabad, Bengaluru, Mumbai, Pune) and Mexico (Guadalajara); headquarters in Singapore; U.S. sales and marketing office in Raleigh, North Carolina.

Employees

• Approximately 1,692 full‑time employees as of March 31, 2026.
• Uses temporary personnel (contractors and consultants) to supplement capacity.
• Emphasizes a “One Team” culture with client‑aligned staffing and voluntary attrition under 7% for the fiscal year ended March 31, 2026.

Geographic mix of revenue (year ended March 31, 2026)

• North America: $62.873 million
• Asia Pacific and Other: $7.141 million
• Total revenue: $70.014 million

Financial highlights (fiscal year ended March 31, 2026 vs 2025)

• Revenue: $70.014 million (2026) vs $70.198 million (2025)
• Cost of revenue: $52.715 million (2026) vs $53.478 million (2025)
• Gross profit: $17.299 million (2026); gross margin 25% (2026) vs 24% (2025)
• Selling, general & administrative expenses: $12.781 million (2026) vs $45.490 million (2025)
• Income from operations: $4.518 million (2026) vs $(28.770) million (2025)
• Other income (expense), net: $0.947 million (2026) vs $6.103 million (2025)
• Income before income taxes: $5.465 million (2026) vs $(22.667) million (2025)
• Income tax expense (benefit): $(1.991) million (2026) vs $1.072 million (2025)
• Net income (consolidated): $3.474 million (2026) vs $(21.595) million (2025)
• Net income attributable to noncontrolling interests: $0.278 million (2026) vs $(1.163) million (2025)
• Net income attributable to redeemable noncontrolling interests: $0.642 million (2026) vs $(0.718) million (2025)
• Net income attributable to shareholders of Aeries Technology, Inc.: $2.554 million (2026) vs $(19.714) million (2025)

Liquidity and capital structure notes

• Cash balance: $4.9 million as of March 31, 2026; net operating cash inflow of $6.8 million for the year.
• Management discussed plans to address liquidity through potential new credit facilities, equity financing, liability restructuring, vendor waivers, and cost controls.
• The company has exposure to forward purchase agreements and potential future equity issuances that could dilute existing shareholders.

Corporate structure and ownership considerations

• Cayman Islands exempted company with a dual‑class share structure.
• Class V ordinary share carries special voting rights in extraordinary events and is held in a controlling position by a related party (Mr. Kumar) via exchange agreements.
• The Class V share provides substantial influence over matters requiring stockholder approval and can affect governance in extraordinary events.

Operations and facilities

• Global delivery centers in India and Mexico focused on client‑centric office environments.
• Corporate presence in Singapore and a U.S. sales office in Raleigh, NC.
• Leases and fixed facility costs are a material part of operating expenses.

Intellectual property and risk posture

• Holds trademarks (for example, ATG AERIES in India) and relies on confidentiality agreements and trade secrets.
• Uses open‑source software with associated risk considerations.
• Exposed to cybersecurity, data privacy, anti‑corruption, and international regulatory regimes.
• Maintains ISO 27001:2022 and SOC 2 Type II compliance.

Summary

Aeries Technology provides GCC planning, establishment, and management services combined with AI‑enabled transformation capabilities for private equity portfolio companies and mid‑market technology‑enabled enterprises. Its offering includes advisory services, operations management, and the A1 GCC technology platform to deliver cost savings, governance, and scale. As of March 31, 2026, the company employed about 1,692 full‑time employees, served over 40 clients, generated approximately $70.0 million in annual revenue, and reported consolidated net income of $3.474 million for the year (about $2.554 million attributable to shareholders). The business has concentration among a few large clients and operates across North America, India, and Mexico, supported by headquarters in Singapore and a U.S. sales presence.