Aeron Composite Limited Rising on the Shoulders of New Materials
How an FRP manufacturer is transforming into India’s next large composites and carbon-fiber platform
Aeron Composite is no longer just a maker of fiberglass profiles. The company is quietly building one of India’s most ambitious composite manufacturing ecosystems, combining traditional FRP strength with the disruptive potential of FRP rebars and the future promise of carbon-fiber components. As its massive Mehsana plant begins to ramp and global customers turn toward corrosion free, lightweight materials, Aeron stands at the cusp of a multi-year transformation that could redefine its scale, margins and market relevance.
Business Overview
Aeron Composite Limited has evolved from a specialised FRP manufacturer into one of India’s emerging new-materials companies with a clear focus on corrosion free, lightweight and high strength composite solutions. The company manufactures fiberglass reinforced polymer products that cater to chemicals, oil and gas, water treatment, marine, telecom, utilities and infrastructure. Aeron’s product range covers pultruded profiles, molded grating, handrails, cable trays, FRP rods for optical fiber cables, poles and a growing family of structural components used in high performance environments.
The company is now expanding beyond traditional FRP into future-oriented product lines that meet global demand for advanced materials. It has entered the FRP rebar segment under its GIGABAR brand, promoting a corrosion free, lightweight reinforcement alternative to steel for the construction sector. In parallel, Aeron is preparing to enter the carbon fiber reinforced polymer space through a dedicated pilot facility that will serve wind energy, high temperature conductors for power transmission, railways and automotive applications. This marks the beginning of Aeron’s shift toward higher technology and higher margin composite products.
Aeron’s business model rests on deep industry experience, customised design capabilities, large capacity manufacturing and a strong global customer network. Exports contribute more than half of H1 FY26 revenues, reflecting the company’s ability to compete in international markets. Its new Mehsana facility, built on a very large land parcel, is designed to be a multi decade platform for FRP and CFRP production, automation and scale.
Business Model and Segment Overview
1. FRP Structural Products
This is Aeron’s core business where the company manufactures pultruded profiles, molded gratings, handrails, cable trays, poles and a variety of structural components. These products are used by industries that require high corrosion resistance such as chemicals, refineries, marine jetties, power utilities and water treatment facilities. The segment benefits from repeat business and continuous customisation.
2. FRP Rods for Optical Fiber Cables
Aeron supplies specialized FRP rods that serve as strength members inside optical fiber cables. These rods are critical for telecom networks since they provide non metallic support, flexibility and durability. Customers include major OFC manufacturers in India and international clients associated with well known global cable groups.
3. FRP Rebars under the GIGABAR Brand
This is the company’s new growth vector. FRP rebars offer a lightweight, non conductive and corrosion resistant alternative to TMT steel. Each dedicated rebar line has the potential to generate significant revenue depending on diameter mix and market adoption. Aeron started commercial sales in March 2025 and is scaling the number of production lines through FY26 and beyond.
4. Upcoming Carbon Fiber Reinforced Polymer Products
Aeron is setting up a pilot CFRP facility that will manufacture carbon planks for wind blades, carbon core rods for high temperature low sag conductors and custom autoclave molded components for automotive, rail and defence. The machinery is already ordered and installation is targeted by the end of FY26 with customer qualification through FY27.
Product Line Up
Structural & Safety:
Pultruded structural profiles for industrial applications.
Molded FRP gratings used for platforms and walkways.
FRP handrails and ladders for essential safety systems.
Utilities & Infrastructure:
FRP cable trays utilized in utilities, power, and chemical plants.
FRP poles for lighting and general infrastructure.
Specialized Materials:
FRP rods specifically designed for optical fiber cables, supplied to telecom OEMs.
GIGABAR FRP rebars for enhanced construction and infrastructure projects.
Future/Upcoming Innovations:
Carbon fiber planks for the wind energy sector.
Carbon core rods intended for power transmission conductors.
Custom Carbon Fiber Reinforced Polymer (CFRP) components for mobility and defence applications.
Production and Manufacturing
Aeron has commissioned a very large integrated manufacturing complex in Mehsana that spans more than fifty thousand square meters of land area. The new facility carries an eventual capacity of more than twenty two thousand metric tonnes per year across FRP and future CFRP product lines. The plant became operational at the end of September 2025 and is currently in the early stages of ramp up.
The design philosophy of this facility prioritises automation, consistency and high throughput. Pultrusion lines, rebar lines, molding units and finishing processes are housed under a single location, improving workflow and quality. A dedicated solar installation of one point two megawatts contributes to the power requirement and supports long term sustainability and cost efficiency. As utilization begins to climb toward seventy percent and above by FY27, the company expects meaningful operating leverage.
Industry Overview
The global composites industry is witnessing a structural shift as customers increasingly migrate from steel and concrete to lightweight, corrosion free and energy efficient materials. FRP adoption is rising across infrastructure, telecom, utilities, marine and chemical industries due to lower maintenance and longer lifecycle performance. India is among the fastest growing FRP markets and is simultaneously becoming a cost competitive export base.
Within construction materials, FRP rebars are gaining momentum because they offer lower weight, zero rusting and competitive economics against specialty steel. Demand is also buoyed by coastal infrastructure, seawater desalination plants and metro projects. Carbon fiber reinforced polymer materials represent the next decade of advanced material demand, driven by wind energy expansion, lightweight mobility, and the need for high temperature conductors in power transmission.
Financials Capex
The Mehsana plant represents a transformational capital investment for the company. It provides a long runway for expansion in both FRP and CFRP categories and enables Aeron to scale from a mid-sized manufacturer to a diversified composites platform. The CFRP pilot line is another important investment which will help the company enter high value segments. Most heavy machinery for carbon fiber processing has already been ordered with commissioning expected by the end of FY26.
Strengths & Risk
Future Outlook
Aeron is focused on achieving healthy double-digit compound revenue growth, driven by its FRP structural products, FRP rods, and the expansion of GIGABAR rebars.
Profitability and Efficiency:
The EBITDA margin is projected to approach ten percent in the near term as the new plant stabilizes.
Cost efficiency and profitability are expected to improve through better utilization at the Mehsana plant, supported by solar power integration.
Key Growth Areas:
The FRP rebar business is anticipated to become a significant revenue contributor as production lines increase.
Strong export growth is expected as global customers increasingly switch to reliable non-Chinese suppliers.
Long-Term Strategy and Innovation:
The company is establishing itself as a long-term player in advanced materials.
A clear portfolio transition is underway, moving from FRP to a combination of FRP and CFRP.
The CFRP pilot line will be key to entering higher-value applications—including wind, railways, power conductors, and automotive—starting from FY28.
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