{"url_path":"/sec/aert/10-k/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-06-08","source_url":"https://www.sec.gov/Archives/edgar/data/1853044/0001829126-26-006123-index.html","accession_number":"0001829126-26-006123","cik":"0001853044","ticker":"AERT","issuer_name":"Aeries Technology, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1853044/0001829126-26-006123-index.html","primary_entity_key":"0001853044","primary_entity_name":"Aeries Technology, Inc."},"word_count":2997,"has_tables":true,"body_markdown":"false\nFY\n2026\n0001853044\nNo\nNo\nNo\nNo\n\n0001853044\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:ClassOrdinarySharesParValue0.0001PerShareMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:RedeemableWarrantsEachWholeWarrantExercisableForOneClassOrdinaryShareAtExercisePriceOf11.50Member\n\n2025-04-01\n2026-03-31\n\n0001853044\n\n2025-09-30\n\n0001853044\n\nus-gaap:CommonClassAMember\n\n2026-06-05\n\n0001853044\n\naert:CommonClassVMember\n\n2026-06-05\n\n0001853044\n\n2026-03-31\n\n0001853044\n\n2025-03-31\n\n0001853044\n\nus-gaap:CommonClassAMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:CommonClassAMember\n\n2025-03-31\n\n0001853044\n\naert:CommonClassVMember\n\n2026-03-31\n\n0001853044\n\naert:CommonClassVMember\n\n2025-03-31\n\n0001853044\n\n2024-04-01\n2025-03-31\n\n0001853044\n\naert:RedeemableNoncontrollingInterestMember\n\n2025-03-31\n\n0001853044\n\naert:OrdinarySharesClassAMember\n\n2025-03-31\n\n0001853044\n\naert:OrdinarySharesClassVMember\n\n2025-03-31\n\n0001853044\n\naert:OrdinarySharesTreasurySharesMember\n\n2025-03-31\n\n0001853044\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2025-03-31\n\n0001853044\n\nus-gaap:RetainedEarningsMember\n\n2025-03-31\n\n0001853044\n\nus-gaap:AccumulatedOtherComprehensiveIncomeMember\n\n2025-03-31\n\n0001853044\n\naert:TotalStockholdersEquitydeficitMember\n\n2025-03-31\n\n0001853044\n\nus-gaap:NoncontrollingInterestMember\n\n2025-03-31\n\n0001853044\n\naert:RedeemableNoncontrollingInterestMember\n\n2024-03-31\n\n0001853044\n\naert:OrdinarySharesClassAMember\n\n2024-03-31\n\n0001853044\n\naert:OrdinarySharesClassVMember\n\n2024-03-31\n\n0001853044\n\naert:OrdinarySharesTreasurySharesMember\n\n2024-03-31\n\n0001853044\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2024-03-31\n\n0001853044\n\nus-gaap:RetainedEarningsMember\n\n2024-03-31\n\n0001853044\n\nus-gaap:AccumulatedOtherComprehensiveIncomeMember\n\n2024-03-31\n\n0001853044\n\naert:TotalStockholdersEquitydeficitMember\n\n2024-03-31\n\n0001853044\n\nus-gaap:NoncontrollingInterestMember\n\n2024-03-31\n\n0001853044\n\n2024-03-31\n\n0001853044\n\naert:RedeemableNoncontrollingInterestMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:OrdinarySharesClassAMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:OrdinarySharesClassVMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:OrdinarySharesTreasurySharesMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\nus-gaap:RetainedEarningsMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\nus-gaap:AccumulatedOtherComprehensiveIncomeMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:TotalStockholdersEquitydeficitMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\nus-gaap:NoncontrollingInterestMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:RedeemableNoncontrollingInterestMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\naert:OrdinarySharesClassAMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\naert:OrdinarySharesClassVMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\naert:OrdinarySharesTreasurySharesMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\nus-gaap:RetainedEarningsMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\nus-gaap:AccumulatedOtherComprehensiveIncomeMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\naert:TotalStockholdersEquitydeficitMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\nus-gaap:NoncontrollingInterestMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\naert:RedeemableNoncontrollingInterestMember\n\n2026-03-31\n\n0001853044\n\naert:OrdinarySharesClassAMember\n\n2026-03-31\n\n0001853044\n\naert:OrdinarySharesClassVMember\n\n2026-03-31\n\n0001853044\n\naert:OrdinarySharesTreasurySharesMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:RetainedEarningsMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:AccumulatedOtherComprehensiveIncomeMember\n\n2026-03-31\n\n0001853044\n\naert:TotalStockholdersEquitydeficitMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:NoncontrollingInterestMember\n\n2026-03-31\n\n0001853044\n\naert:AARKMember\n\n2023-11-06\n\n0001853044\n\naert:AARKShareholdersMember\n\n2023-11-06\n\n0001853044\n\nus-gaap:CommonStockMember\n\n2026-03-31\n\n0001853044\n\naert:PrivatePlacementWarrantsMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:PublicWarrantsMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:ClassAOrdinarySharesMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:AccountsReceivableMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\n2023-12-01\n2023-12-31\n\n0001853044\n\nus-gaap:CommonClassAMember\n\n2023-12-31\n\n0001853044\n\nus-gaap:SalesRevenueNetMember\naert:ThreeCustomerMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\nus-gaap:SalesRevenueNetMember\naert:TwoCustomersMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\naert:CustomerMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:CustomerMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\nus-gaap:AccountsReceivableMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:AccountsReceivableMember\n\n2025-03-31\n\n0001853044\n\naert:LongTermInvestmentMember\n\n2026-03-31\n\n0001853044\n\naert:LongTermInvestmentMember\n\n2025-03-31\n\n0001853044\n\naert:CustomerOneMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:CustomerOneMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\naert:CustomerTwoMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:CustomerTwoMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\naert:CustomerThreeMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\nus-gaap:AccountsReceivableMember\n\n2024-03-31\n\n0001853044\n\nus-gaap:AccountsReceivableMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\naert:LongTermInvestmentMember\n\n2024-03-31\n\n0001853044\n\naert:LongTermInvestmentMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:LongTermInvestmentMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\nus-gaap:ComputerEquipmentMember\nsrt:MinimumMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:ComputerEquipmentMember\nsrt:MaximumMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:OfficeEquipmentMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:FurnitureAndFixturesMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:VehiclesMember\nsrt:MinimumMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:VehiclesMember\nsrt:MaximumMember\n\n2026-03-31\n\n0001853044\n\naert:InternalUseSoftwareMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:LeaseholdImprovementsMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\nus-gaap:ComputerEquipmentMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:ComputerEquipmentMember\n\n2025-03-31\n\n0001853044\n\nus-gaap:LeaseholdImprovementsMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:LeaseholdImprovementsMember\n\n2025-03-31\n\n0001853044\n\nus-gaap:OfficeEquipmentMember\n\n2025-03-31\n\n0001853044\n\naert:InternalUseSoftwareUnderDevelopmentMember\n\n2026-03-31\n\n0001853044\n\naert:InternalUseSoftwareUnderDevelopmentMember\n\n2025-03-31\n\n0001853044\n\nus-gaap:FurnitureAndFixturesMember\n\n2025-03-31\n\n0001853044\n\nus-gaap:VehiclesMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:VehiclesMember\n\n2025-03-31\n\n0001853044\n\naert:FinanceLeaseArrangementsMember\n\n2026-03-31\n\n0001853044\n\naert:FinanceLeaseArrangementsMember\n\n2025-03-31\n\n0001853044\n\naert:FinanceLeaseArrangementsMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:FinanceLeaseArrangementsMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\nus-gaap:CommonStockMember\naert:BostonSystemsPrivateLimitedMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:CommonStockMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\nus-gaap:CommonStockMember\n\n2025-03-31\n\n0001853044\n\naert:CumulativeRedeemablePreferenceSecuritiesMember\naert:AeriesTechnologyProductsAndStrategiesPrivateLtdMember\n\n2026-03-31\n\n0001853044\n\naert:CumulativeRedeemablePreferenceSecuritiesMember\n\n2026-03-31\n\n0001853044\n\naert:CumulativeRedeemablePreferenceSecuritiesMember\n\n2025-03-31\n\n0001853044\n\naert:SeriesARedeemablePreferenceSecuritiesMember\naert:AeriesFinancialTechnologiesPrivateLtdMember\n\n2026-03-31\n\n0001853044\n\naert:SeriesARedeemablePreferenceSecuritiesMember\n\n2026-03-31\n\n0001853044\n\naert:SeriesARedeemablePreferenceSecuritiesMember\n\n2025-03-31\n\n0001853044\n\nus-gaap:ShortTermDebtMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:ShortTermDebtMember\n\n2025-03-31\n\n0001853044\n\naert:CurrentPortionOfVehicleLoanMember\n\n2026-03-31\n\n0001853044\n\naert:CurrentPortionOfVehicleLoanMember\n\n2025-03-31\n\n0001853044\n\nus-gaap:RevolvingCreditFacilityMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:RevolvingCreditFacilityMember\n\n2025-03-31\n\n0001853044\n\n2025-11-01\n2026-11-06\n\n0001853044\n\naert:LoanFromDirectorMember\n\n2026-03-31\n\n0001853044\n\naert:LoanFromDirectorMember\n\n2025-03-31\n\n0001853044\n\naert:LoanFromAffiliateMember\n\n2026-03-31\n\n0001853044\n\naert:LoanFromAffiliateMember\n\n2025-03-31\n\n0001853044\n\naert:VehicleLoanMember\n\n2026-03-31\n\n0001853044\n\naert:VehicleLoanMember\n\n2025-03-31\n\n0001853044\n\n2022-12-07\n\n0001853044\n\n2022-12-01\n2022-12-07\n\n0001853044\n\n2024-08-02\n\n0001853044\n\n2024-07-26\n2024-08-02\n\n0001853044\n\nsrt:NorthAmericaMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\nsrt:NorthAmericaMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\nsrt:AsiaPacificMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\nsrt:AsiaPacificMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\nsrt:MinimumMember\n\n2026-03-31\n\n0001853044\n\nsrt:MaximumMember\n\n2026-03-31\n\n0001853044\n\nsrt:MinimumMember\n\n2025-03-31\n\n0001853044\n\nsrt:MaximumMember\n\n2025-03-31\n\n0001853044\n\ncountry:US\n\n2025-04-01\n2026-03-31\n\n0001853044\n\ncountry:US\n\n2024-04-01\n2025-03-31\n\n0001853044\n\ncountry:IN\n\n2025-04-01\n2026-03-31\n\n0001853044\n\ncountry:IN\n\n2024-04-01\n2025-03-31\n\n0001853044\n\ncountry:KY\n\n2025-04-01\n2026-03-31\n\n0001853044\n\ncountry:KY\n\n2024-04-01\n2025-03-31\n\n0001853044\n\ncountry:AE\n\n2025-04-01\n2026-03-31\n\n0001853044\n\ncountry:AE\n\n2024-04-01\n2025-03-31\n\n0001853044\n\ncountry:SG\n\n2025-04-01\n2026-03-31\n\n0001853044\n\ncountry:SG\n\n2024-04-01\n2025-03-31\n\n0001853044\n\ncountry:MX\n\n2025-04-01\n2026-03-31\n\n0001853044\n\ncountry:MX\n\n2024-04-01\n2025-03-31\n\n0001853044\n\ncountry:IN\n\n2026-03-31\n\n0001853044\n\ncountry:SG\n\n2026-03-31\n\n0001853044\n\ncountry:US\n\n2026-03-31\n\n0001853044\n\ncountry:AE\n\n2026-03-31\n\n0001853044\n\ncountry:MX\n\n2026-03-31\n\n0001853044\n\ncountry:IN\n\n2025-03-31\n\n0001853044\n\ncountry:SG\n\n2025-03-31\n\n0001853044\n\ncountry:US\n\n2025-03-31\n\n0001853044\n\ncountry:AE\n\n2025-03-31\n\n0001853044\n\ncountry:MX\n\n2025-03-31\n\n0001853044\n\n2029-03-31\n\n0001853044\n\n2030-03-31\n\n0001853044\n\n2033-03-31\n\n0001853044\n\naert:AarkIIPteLimitedMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:AeriesTechnologyProductsAndStrategiesPrivateLimitedATPSPLMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:AeriesFinancialTechnologiesPrivateLimitedMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:BhanixFinanceAndInvestmentLimitedMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:RalakConsultingLLPMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:SqrrlFintechPrivateLimitedMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:TSLCPteLimitedMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:VenuRamanKumarMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:VaibhavRaoMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:SudhirAppukuttanPanikasseryMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:BhishamAjayKhareMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:AeriesFinancialTechnologiesPrivateLimitedMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:AeriesFinancialTechnologiesPrivateLimitedMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\naert:BhanixFinanceAndInvestmentLimitedMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:BhanixFinanceAndInvestmentLimitedMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\naert:AeriesTechnologyProductsAndStrategiesPrivateLimitedMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:AeriesTechnologyProductsAndStrategiesPrivateLimitedMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\naert:MrVaibhavRaoMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:MrVaibhavRaoMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\naert:SqrrlFintechPrivateLimitedMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:SqrrlFintechPrivateLimitedMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\naert:RalakConsultingLLPMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:RalakConsultingLLPMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\naert:AarkIIPteLimitedMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:AarkIIPteLimitedMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\naert:RalakConsultingLLPMember\n\n2026-03-31\n\n0001853044\n\naert:RalakConsultingLLPMember\n\n2025-03-31\n\n0001853044\n\naert:AarkIIPteLimitedMember\n\n2026-03-31\n\n0001853044\n\naert:AarkIIPteLimitedMember\n\n2025-03-31\n\n0001853044\n\naert:AeriesFinancialTechnologiesPrivateLimitedMember\n\n2026-03-31\n\n0001853044\n\naert:AeriesFinancialTechnologiesPrivateLimitedMember\n\n2025-03-31\n\n0001853044\n\naert:BhanixFinanceAndInvestmentLimitedMember\n\n2026-03-31\n\n0001853044\n\naert:BhanixFinanceAndInvestmentLimitedMember\n\n2025-03-31\n\n0001853044\n\naert:TSLCPteLimitedMember\n\n2026-03-31\n\n0001853044\n\naert:TSLCPteLimitedMember\n\n2025-03-31\n\n0001853044\n\naert:ReceivablesfromMrBhishamAjayKhareMember\n\n2026-03-31\n\n0001853044\n\naert:ReceivablesfromMrBhishamAjayKhareMember\n\n2025-03-31\n\n0001853044\n\naert:RemittanceIntransitInwardsMember\n\n2026-03-31\n\n0001853044\n\naert:RemittanceIntransitInwardsMember\n\n2025-03-31\n\n0001853044\n\naert:AeriesTechnologyProductsAndStrategiesPrivateLimitedMember\n\n2026-03-31\n\n0001853044\n\naert:AeriesTechnologyProductsAndStrategiesPrivateLimitedMember\n\n2025-03-31\n\n0001853044\n\naert:AeriesFinancialTechnologiesPrivateLtdMember\n\n2026-03-31\n\n0001853044\n\naert:AeriesFinancialTechnologiesPrivateLtdMember\n\n2025-03-31\n\n0001853044\n\naert:MrVaibhavRaoMember\n\n2026-03-31\n\n0001853044\n\naert:MrVaibhavRaoMember\n\n2025-03-31\n\n0001853044\n\n2023-10-28\n2023-11-02\n\n0001853044\n\n2025-03-01\n2025-03-27\n\n0001853044\n\n2025-12-01\n2025-12-26\n\n0001853044\n\naert:MsNinaBShapiroMember\n\n2025-09-01\n2025-09-09\n\n0001853044\n\naert:MrBiswajitDasguptaMember\n\n2025-09-01\n2025-09-09\n\n0001853044\n\naert:MrAlokKochharMember\n\n2025-09-01\n2025-09-09\n\n0001853044\n\naert:RameshVenkataramanMember\n\n2025-09-01\n2025-09-09\n\n0001853044\n\n2020-07-30\n2020-08-01\n\n0001853044\n\n2022-04-01\n2023-03-31\n\n0001853044\n\n2019-09-01\n2019-09-23\n\n0001853044\n\nus-gaap:RestrictedStockUnitsRSUMember\n\n2025-03-31\n\n0001853044\n\nus-gaap:RestrictedStockUnitsRSUMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\nus-gaap:RestrictedStockUnitsRSUMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:RestrictedStockUnitsRSUMember\n\n2024-03-31\n\n0001853044\n\nus-gaap:RestrictedStockUnitsRSUMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\naert:ESOPStockOptionMember\n\n2025-03-31\n\n0001853044\n\naert:ESOPStockOptionMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:ESOPStockOptionMember\n\n2026-03-31\n\n0001853044\n\naert:MSOPStockOptionMember\n\n2025-03-31\n\n0001853044\n\naert:MSOPStockOptionMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:MSOPStockOptionMember\n\n2026-03-31\n\n0001853044\n\naert:PublicWarrantsMember\n\n2026-03-31\n\n0001853044\n\n2026-02-01\n2026-02-25\n\n0001853044\n\n2023-06-01\n2023-06-14\n\n0001853044\n\n2023-04-02\n\n0001853044\n\n2022-04-02\n\n0001853044\n\naert:SubscriptionAgreementMember\nus-gaap:InvestorMember\n\n2024-04-01\n2024-04-08\n\n0001853044\n\naert:SubscriptionAgreementMember\n\n2024-04-08\n\n0001853044\n\naert:SubscriptionAgreementMember\n\n2024-04-01\n2024-04-08\n\n0001853044\n\naert:SubscriptionAgreementMember\naert:ClassAOrdinarySharesMember\n\n2024-04-01\n2024-04-08\n\n0001853044\n\naert:SubscriptionAgreementMember\naert:ClassAOrdinarySharesMember\n\n2024-07-10\n\n0001853044\n\naert:SubscriptionAgreementMember\naert:ClassAOrdinarySharesMember\n\n2025-09-25\n\n0001853044\n\naert:SubscriptionAgreementMember\naert:ClassAOrdinarySharesMember\n\n2024-04-08\n\n0001853044\n\naert:SubscriptionAgreementMember\naert:AARKMember\n\n2024-04-01\n2024-04-05\n\n0001853044\n\naert:SubscriptionAgreementMember\naert:ClassAOrdinarySharesMember\naert:AARKMember\n\n2024-04-01\n2024-04-08\n\n0001853044\n\n2025-09-01\n2025-09-22\n\n0001853044\n\n2025-09-22\n\n0001853044\n\n2026-03-01\n2026-03-31\n\n0001853044\n\naert:SubscriptionAgreementMember\naert:VendorsMember\n\n2024-05-01\n2024-05-24\n\n0001853044\n\naert:VendorsMember\naert:ClassAOrdinarySharesMember\n\n2024-09-01\n2024-09-30\n\n0001853044\n\naert:VendorsMember\naert:ClassVOrdinarySharesMember\n\n2024-09-01\n2024-09-30\n\n0001853044\n\naert:VendorsMember\naert:ClassAOrdinarySharesMember\n\n2025-09-01\n2025-09-30\n\n0001853044\n\naert:FPAHoldersMember\n\n2025-09-01\n2025-09-30\n\n0001853044\n\naert:AARKMember\n\n2026-03-31\n\n0001853044\n\naert:ATGBAMember\n\n2026-03-31\n\n0001853044\n\naert:ForwardPurchaseAgreementPutOptionLiabilityMember\nus-gaap:FairValueInputsLevel1Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001853044\n\naert:ForwardPurchaseAgreementPutOptionLiabilityMember\nus-gaap:FairValueInputsLevel2Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001853044\n\naert:ForwardPurchaseAgreementPutOptionLiabilityMember\nus-gaap:FairValueInputsLevel3Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001853044\n\naert:ForwardPurchaseAgreementPutOptionLiabilityMember\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001853044\n\naert:PublicWarrantsMember\nus-gaap:FairValueInputsLevel1Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001853044\n\naert:PublicWarrantsMember\nus-gaap:FairValueInputsLevel2Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001853044\n\naert:PublicWarrantsMember\nus-gaap:FairValueInputsLevel3Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001853044\n\naert:PublicWarrantsMember\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001853044\n\naert:PrivatePlacementWarrantsMember\nus-gaap:FairValueInputsLevel1Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001853044\n\naert:PrivatePlacementWarrantsMember\nus-gaap:FairValueInputsLevel2Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001853044\n\naert:PrivatePlacementWarrantsMember\nus-gaap:FairValueInputsLevel3Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001853044\n\naert:PrivatePlacementWarrantsMember\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:FairValueInputsLevel1Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:FairValueInputsLevel2Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:FairValueInputsLevel3Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001853044\n\nus-gaap:FairValueMeasurementsRecurringMember\n\n2026-03-31\n\n0001853044\n\naert:ForwardPurchaseAgreementPutOptionLiabilityMember\nus-gaap:FairValueInputsLevel1Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-03-31\n\n0001853044\n\naert:ForwardPurchaseAgreementPutOptionLiabilityMember\nus-gaap:FairValueInputsLevel2Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-03-31\n\n0001853044\n\naert:ForwardPurchaseAgreementPutOptionLiabilityMember\nus-gaap:FairValueInputsLevel3Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-03-31\n\n0001853044\n\naert:ForwardPurchaseAgreementPutOptionLiabilityMember\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-03-31\n\n0001853044\n\naert:PublicWarrantsMember\nus-gaap:FairValueInputsLevel1Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-03-31\n\n0001853044\n\naert:PublicWarrantsMember\nus-gaap:FairValueInputsLevel2Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-03-31\n\n0001853044\n\naert:PublicWarrantsMember\nus-gaap:FairValueInputsLevel3Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-03-31\n\n0001853044\n\naert:PublicWarrantsMember\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-03-31\n\n0001853044\n\naert:PrivatePlacementWarrantsMember\nus-gaap:FairValueInputsLevel1Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-03-31\n\n0001853044\n\naert:PrivatePlacementWarrantsMember\nus-gaap:FairValueInputsLevel2Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-03-31\n\n0001853044\n\naert:PrivatePlacementWarrantsMember\nus-gaap:FairValueInputsLevel3Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-03-31\n\n0001853044\n\naert:PrivatePlacementWarrantsMember\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-03-31\n\n0001853044\n\nus-gaap:FairValueInputsLevel1Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-03-31\n\n0001853044\n\nus-gaap:FairValueInputsLevel2Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-03-31\n\n0001853044\n\nus-gaap:FairValueInputsLevel3Member\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-03-31\n\n0001853044\n\nus-gaap:FairValueMeasurementsRecurringMember\n\n2025-03-31\n\n0001853044\n\naert:ForwardPurchaseAgreementDerivativeLiabilitiesMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:ForwardPurchaseAgreementPutOptionLiabilityMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:ForwardPurchaseAgreementPutOptionLiabilityMember\n\n2024-04-01\n2025-03-31\n\n0001853044\n\naert:PrivateWarrantsLiabilityMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:ForwardPurchaseAgreementDerivativeLiabilitiesMember\n\n2025-03-31\n\n0001853044\n\naert:PublicWarrantsMember\n\n2025-03-31\n\n0001853044\n\naert:PrivatePlacementWarrantsMember\n\n2025-03-31\n\n0001853044\n\naert:PublicWarrantsMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:PrivatePlacementWarrantsMember\n\n2025-04-01\n2026-03-31\n\n0001853044\n\naert:ForwardPurchaseAgreementDerivativeLiabilitiesMember\n\n2026-03-31\n\n0001853044\n\naert:PrivatePlacementWarrantsMember\n\n2026-03-31\n\n0001853044\n\n2026-04-01\n2026-06-05\n\n0001853044\n\nus-gaap:SubsequentEventMember\n\n2026-04-01\n2026-06-05\n\n0001853044\n\nus-gaap:SubsequentEventMember\nus-gaap:CommonClassAMember\n\n2026-06-05\n\n0001853044\n\nus-gaap:SubsequentEventMember\n\n2026-06-05\n\niso4217:USD\n\nxbrli:shares\n\niso4217:USD\n\nxbrli:shares\n\nxbrli:pure\n\n \n\n \n\n \n\n**UNITED STATES**\n\n**SECURITIES AND EXCHANGE COMMISSION**\n\n**Washington, D.C. 20549**\n\n \n\n \n\n \n\n**FORM 10-K**\n\n \n\n \n\n \n\n**(MARK ONE)**\n\n☒ **ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**For the fiscal year ended March 31, 2026**\n\n \n\n☐ **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**For the transition period from __________ to __________**\n\n \n\n**Commission file number: 001-40920**\n\n \n\n \n\n \n\n**Aeries Technology, Inc.**\n\n**(Exact Name of Registrant as Specified in Its Charter)**\n\n \n\n \n\n \n\n**Cayman Islands**\n** **\n**98-1587626**\n\n(State or other jurisdiction of\nincorporation or organization)\n \n(I.R.S. Employer\nIdentification No.)\n\n \n \n \n\n**60 Paya Lebar Road, #08-13 Paya Lebar Square Singapore**\n** **\n**409051**\n\n(Address of principal executive offices)\n \n(Zip Code)\n\n \n\n**(919)****228-6404**\n\n**(Registrant’s telephone number, including area code)**\n\n \n\n**Securities registered pursuant to Section 12(b) of the Act:**\n\n \n\n**Title of each class**\n \n**Trading Symbol(s)**\n \n**Name of each exchange on which registered**\n\nClass A ordinary shares, par value $0.0001 per share\n \nAERT\n \nThe Nasdaq Stock Market\n\nRedeemable warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50\n \nAERTW\n \nThe Nasdaq Stock Market\n\n \n\n \n\n \n\nIndicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES ☐   NO ☒\n\n \n\nIndicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. YES ☐   NO ☒\n\n \n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES ☒   NO ☐\n\n \n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). YES ☒   NO ☐\n\n \n\n \n\n \n\n \n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated filer\n☐\nAccelerated filer\n☐\n\nNon-accelerated filer\n☒\nSmaller reporting company\n☒\n\n \n \nEmerging growth company\n☒\n\n \n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\n \n\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C.7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐\n\n \n\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐\n\n \n\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\n\n \n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES ☐   NO ☒\n\n \n\nAs of September 30, 2025, the last business day of the registrant’s most recently completed second fiscal quarter, the aggregate market value of the registrant’s ordinary shares held by non-affiliates of the registrant was approximately $8.3 million, based on the closing sale price as reported on the Nasdaq Capital Market.\n\n \n\nAs of June 5, 2026, there were 45,914,789 Class A ordinary shares, $0.0001 par value and 1 Class V ordinary share, $0.0001 par value, issued and outstanding.\n\n \n\nDocuments Incorporated by Reference: None.\n\n \n\n \n\n \n\n \n\n \n\n \n\n**AERIES TECHNOLOGY, INC.**\n\n \n\n**FORM 10-K**\n\n \n\n**For the fiscal year ended March 31, 2026**\n\n \n\n**TABLE OF CONTENTS**\n\n \n\n[CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS](#a_001)\n \niii\n\n \n \n \n \n\n[PART I](#a_002)\n \n1\n\n \n[Item 1. Business](#a_003)\n \n1\n\n \n[Item 1A. Risk Factors](#a_004)\n \n15\n\n \n[Item 1B. Unresolved Staff Comments](#a_005)\n \n48\n\n \n[Item 1C. Cybersecurity](#a_006)\n \n48\n\n \n[Item 2. Properties](#a_007)\n \n49\n\n \n[Item 3. Legal Proceedings](#a_008)\n \n49\n\n \n[Item 4. Mine Safety Disclosures](#a_009)\n \n49\n\n \n \n \n \n\n[PART II](#a_010)\n \n50\n\n \n[Item 5. Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities](#a_011)\n \n50\n\n \n[Item 6. [Reserved]](#a_012)\n \n51\n\n \n[Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations](#a_013)\n \n52\n\n \n[Item 7A. Quantitative and Qualitative Disclosures About Market Risk](#a_014)\n \n65\n\n \n[Item 8. Financial Statements and Supplementary Data](#a_015)\n \n66\n\n \n[Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure](#a_016)\n \n66\n\n \n[Item 9A. Controls and Procedures](#a_017)\n \n67\n\n \n[Item 9B. Other Information](#a_018)\n \n69\n\n \n[Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](#a_019)\n \n69\n\n \n \n \n \n\n[PART III](#a_020)\n \n70\n\n \n[Item 10. Directors, Executive Officers and Corporate Governance](#a_021)\n \n70\n\n \n[Item 11. Executive Compensation](#a_022)\n \n77\n\n \n[Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters](#a_023)\n \n86\n\n \n[Item 13. Certain Relationships and Related Transactions, and Director Independence](#a_024)\n \n89\n\n \n[Item 14. Principal Accounting Fees and Services](#a_025)\n \n92\n\n \n \n \n \n\n[PART IV](#a_026)\n \n93\n\n \n[Item 15. Exhibits, Financial Statement Schedules](#a_027)\n \n93\n\n \n[Item 16. Form 10-K Summary](#a_028)\n \n96\n\n \n \n \n \n\n[SIGNATURES](#a_029)\n \n97\n\n \n\ni\n\n \n\n \n\nMARKET AND INDUSTRY DATA\n\n \n\nInformation contained in this report concerning the market and the industry in which Aeries competes, including its market position, general expectations of market opportunity and market size, is based on information from various third-party sources, on assumptions made by Aeries based on such sources and Aeries’ knowledge of the markets for its services and solutions. Any estimates provided herein involve numerous assumptions and limitations, and you are cautioned not to give undue weight to such information. Third-party sources generally state that the information contained in such source has been obtained from sources believed to be reliable but that there can be no assurance as to the accuracy or completeness of such information. The industry in which Aeries operates is subject to a high degree of uncertainty and risk. As a result, the estimates and market and industry information provided in this report are subject to change based on various factors, including those described in the sections entitled “*Cautionary Note Regarding Forward-Looking Statements*” and “*Risk Factors*” and elsewhere in this report. Notwithstanding the foregoing, we are responsible for the information provided in this report.\n\n \n\nTRADEMARKS\n\n \n\nThis document contains references to trademarks, trade names and service marks belonging to us or other entities. Solely for convenience, trademarks, trade names and service marks referred to in this report may appear without the ® or TM symbols, but such references are not intended to indicate, in any way, that the applicable licensor will not assert, to the fullest extent under applicable law, its rights to these trademarks and trade names. We do not intend our use or display of other companies’ trade names, trademarks or service marks to imply a relationship with, or endorsement or sponsorship of us by, any other companies.\n\n \n\nii\n\n \n\n \n\nCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS\n\n \n\nSome of the statements contained in this report may constitute “forward-looking statements” for purposes of the federal securities laws. Our forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such statements are based on expectations as to the future and are not statements of historical fact.\n\n \n\nThe forward-looking statements contained in this report are based on current expectations and beliefs concerning future developments and their potential effects on us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. The following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements:\n\n \n\n \n●\nour ability to continue as a going concern;\n\n \n\n \n●\nour market opportunity;\n\n \n\n \n●\nour ability to regain compliance with the Nasdaq listing standards and to maintain the listing of the Class A ordinary shares and the warrants on the Nasdaq Stock Market, and the potential liquidity and trading of such securities;\n\n \n\n \n●\nour business development efforts to maximize our potential value and to retain and expand our client base;\n\n \n\n \n●\nour estimates regarding expenses, future revenue, capital requirements and needs for additional financing;\n\n \n\n \n●\nour financial performance;\n\n \n\n \n●\nthe sufficiency of our existing cash and cash equivalents to fund our operating expenses and capital expenditure requirements;\n\n \n\n \n●\nour success in retaining or recruiting officers, key employees or directors, or any necessary changes to these positions;\n\n \n\n \n●\nchanges in applicable laws or regulations in the United States and foreign jurisdictions in which we conduct business;\n\n \n\n \n●\nour ability to develop and maintain effective internal controls and risks related to internal audit findings, including the identification of material weaknesses and control deficiencies;\n\n \n\n \n●\nrisks related to cybersecurity and data privacy;\n\n \n\n \n●\nrisks related to the use of artificial intelligence (“AI”), machine learning (“ML”), and other emerging technologies, including their integration into our operations and potential regulatory, ethical, and reputational impacts;\n\n \n\n \n●\nrisks related to reputational harm, including those arising from social media, public perception, or misinformation;\n\n \n\n \n●\nrisks related to current or future litigation, regulatory inquiries, or governmental investigations;\n\n \n\niii\n\n \n\n \n\n \n●\n\ngeneral economic and political conditions, such as the effects of the U.S.- Iran, Russia-Ukraine and the Israel-Hamas conflicts, pandemics or public health emergencies, recessions, interest rates, inflation, local and national elections, fuel prices, international currency fluctuations, changes in diplomatic and trade relationships, political instability, acts of war or terrorism and natural disasters;\n\n \n \n \n\n \n●\nthe expected effects of the Share Consolidation on the trading price, liquidity and marketability of our Class A ordinary shares, and our ability to regain and maintain compliance with the Nasdaq listing standards following the Share Consolidation; and\n\n \n\n \n●\nother factors discussed in this report and our other filings with the Securities and Exchange Commission.\n\n \n\nShould one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Some of these risks and uncertainties may be amplified in the future and there may be additional risks that we currently consider immaterial, or which are unknown. It is not possible to predict or identify all such risks. We undertake no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this report or to reflect the occurrence of unanticipated events, except as required by applicable law. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made.\n\n \n\niv\n\n \n\n \n\n**PART 1**"}