šŸ’° Financial Performance

Revenue Growth by Segment

Not disclosed in available documents, though the company secured high-impact government institutional projects and aviation CGI projects for 150 aircraft.

Geographic Revenue Split

Revenue is generated from India (Bluebird Advertising), the United Kingdom (Neutral Digital), and the Middle East (FlyDubai project).

Capital Expenditure

The company utilized INR 1.99 Cr (79.89% of modified allotment) for FAA/EASA certifications and INR 5.67 Cr (72.38% of modified allotment) for working capital and manufacturing.

Credit Rating & Borrowing

The company repaid INR 0.95 Cr (100% of modified allotment) of outstanding borrowings using IPO proceeds to reduce interest costs.

āš™ļø Operational Drivers

Raw Materials

Electronic components for Wireless Streaming Servers (AeroHub) and materials for Patented Inviseo tray tables.

Capacity Expansion

Not disclosed in available documents, but INR 7.84 Cr was allotted for manufacturing working capital.

šŸ“ˆ Strategic Growth

Growth Strategy

Growth is driven by the commercialization of patented aviation hardware (AeroHub/Inviseo) following FAA/EASA certifications, expansion of the CGI/3D visualization business via Neutral Digital (e.g., FlyDubai project), and securing high-impact government advertising contracts through Bluebird Advertising (e.g., CFMTTI).

Products & Services

Wireless Streaming Servers (AeroHub), Patented Inviseo tray tables, photorealistic CGI aircraft visuals, and integrated advertising campaigns (print, radio, OOH, digital).

Brand Portfolio

Maxposure, Bluebird Advertising, Neutral Digital, AeroHub, Inviseo.

New Products/Services

AeroHub Wireless Streaming Server and Patented Inviseo tray table are the primary new product launches.

Market Expansion

Targeting the global aviation market through UK-based Neutral Digital and expanding PAN-India government advertising presence.

Strategic Alliances

Project-based collaboration with FlyDubai and Airbus for photorealistic CGI aircraft visuals.

šŸŒ External Factors

Industry Trends

Growing demand for immersive digital content and photorealistic CGI in the aviation sector, as evidenced by FlyDubai's 150-aircraft fleet expansion project.

Competitive Landscape

The company competes in niche aviation technology and specialized government institutional advertising.

Competitive Moat

Moat is sustained by patents for the Inviseo tray table and the high entry barriers created by mandatory FAA/EASA aviation safety certifications.

Macro Economic Sensitivity

Sensitivity to global aviation industry health and government advertising budgets.

Consumer Behavior

Shift toward digital and immersive in-flight entertainment experiences driving demand for streaming servers.

Geopolitical Risks

Trade barriers affecting the export/import of aviation hardware and international service agreements.

āš–ļø Regulatory & Governance

Industry Regulations

Mandatory compliance with Federal Aviation Administration (FAA) and European Union Aviation Safety Agency (EASA) standards for all aircraft-installed hardware.

āš ļø Risk Analysis

Key Uncertainties

The primary uncertainty is the timeline for FAA/EASA certifications; as of Sept 2025, INR 50.28 Lakhs remains unutilized for this objective.

Geographic Concentration Risk

Significant operations concentrated in India and the United Kingdom.

Third Party Dependencies

High dependency on international aviation regulators for product approvals.

Technology Obsolescence Risk

Risk of wireless streaming technology being superseded by direct satellite-to-device connectivity in aircraft.

Credit & Counterparty Risk

Exposure to government payment cycles for institutional advertising projects.