AXISCADES
AXISCADES Technologies share price & financials
- Price
- ₹1,943.2
- Market cap
- ₹6.8k Cr
- Sector
- Capital Goods
- Calls analysed
- 7
AXISCADES Technologies Limited Q1 FY27
What went well
- Consolidated revenue of 346 crores, up 42% YoY and 27% QoQ, marking the highest in company history.
- Retained business revenue grew 94% YoY to 183 crores from 94 crores in Q1 FY26.
- Defense business achieved a record 125 crores revenue, up 112% YoY, with underlying EBITDA of 13 crores (up 15% YoY).
What to watch
- Reported PAT loss of 14.8 crores, primarily due to one-off divestment-related costs and provisions.
- 13.1 crore one-off provision inside EBITDA, including 9.62 crores for aged defense receivables and 3.5 crores hedge provision.
What AXISCADES Technologies Limited does
AXISCADES designs, engineers and is increasingly manufacturing mission-critical systems across three domains: Aerospace (aircraft structural/fuselage design, avionics, tooling, MRO for global OEMs and Tier-1s), Defence (radar, electronic-warfare, sonar, missile and land-systems engineering and integration for DRDO, HAL, BEL, the Indian armed forces and OEMs such as MBDA and Thales), and ESAI - Electronics, Semiconductor & Artificial Intelligence (embedded systems, semiconductor design services and AI/deep-tech products with partners like Texas Instruments, Qualcomm and NVIDIA). It earns through engineering-services contracts (a mix of fixed-price and time-and-material work, onsite and offshore) and is building owned manufacturing, integration, testing and MRO capacity - the Devanahalli Aero Land (DAL) campus, the larger Devanahalli Atmanirbhar Complex (DAC) and a Missile Atmanirbhar Complex (MAC) in Hyderabad - to shift from pure engineering services toward design-and-build and product revenue. In 2026 it divested its non-core Heavy Engineering, Automotive and Energy practice to Akkodis to sharpen focus on its three core verticals, and stood up a US-headquartered deep-tech/AI subsidiary, Xida Inc, folding in its ESAI/AI team.
Segments
- Aerospace
- Defence
- ESAI (Electronics, Semiconductor & Artificial Intelligence)
- Heavy Engineering, Automotive & Energy
- Total workforce
- 2,902
- Active defence design/programme wins (consolidated)
- 21 programmes across air defence, surveillance, EW and platform upgrades
- Devanahalli Atmanirbhar Complex (DAC) footprint
- 2.8 million sq. ft. on 20 acres near Bengaluru airport
- Devanahalli Aero Land (DAL) campus
- 180,000 sq. ft., production live
- Cumulative engineering domain experience
- 15,000+ man-years across 3,100+ engineering professionals
- Global operating footprint
- India plus operations in North America, Europe and Asia Pacific
Guidance record · Q1 FY27
what the last two calls moved 24 tracked 1 delivered 6 missed 17 open- Annual ESOP Cost FY26 delivered said Q4 FY25 Promised: INR 50-60 crores Q1 FY27: Final verdict from FY26 stands. No new information.
- Total EBITDA Growth FY26 missed said Q3 FY25 Promised: 1.5x (50% growth) by FY26 Q1 FY27: Final verdict from FY26 stands. No new information.
- Core Verticals EBITDA Margin Improvement revised down said Q4 FY26 Promised: 150 to 200 bps improvement year-on-year Q1 FY27: FY27 guidance of 270cr EBITDA on 1377cr revenue implies a ~19.6% margin, which is below the FY26 core average of 20%+ and misses the 150-200 bps improvement target.
All 24 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: net profit down 300.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 97 | 104 | 100 | 0 | 105 +8% | 123 +18% | 0 −100% | 6 |
| EBITDA | 14 | 18 | 12 | -9 | 9 −36% | 20 +11% | -20 −267% | -5 +44% |
| Net profit | 3 | 4 | 19 | 7 | 0 −100% | 3 −25% | 1 −95% | -14 −300% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +18.3% 1Y
1Y: ₹1,548.2 on 10 Sept 2025 → ₹1,831.8. High ₹2,173.6 (8 May 2026), low ₹1,101.2 (22 Jan 2026).
How the price took the results
close before → close after
- Q1 FY27
- −0.9%
- 13 Aug
- Q4 FY26
- −5.0%
- 30 May
- Q3 FY26
- +5.0%
- 10 Feb
- Q2 FY26
- +5.0%
- 13 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 34.8% a year over 3 years, FY23 to FY26. Operating margin narrowed to 0.0%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹822 Cr | ₹353 Cr | ₹399 Cr | ₹228 Cr |
| Operating profit | ₹142 Cr | ₹57 Cr | ₹66 Cr | ₹0 Cr |
| Operating margin | 17.2% | 16.1% | 16.5% | 0.0% |
| Interest | ₹36 Cr | ₹54 Cr | ₹31 Cr | ₹25 Cr |
| Depreciation | ₹26 Cr | ₹15 Cr | ₹17 Cr | ₹8 Cr |
| Net profit | ₹-5 Cr | ₹-3 Cr | ₹41 Cr | ₹11 Cr |
| Net margin | -0.6% | -0.8% | 10.3% | 4.8% |
| Cash from operations | ₹56 Cr | ₹20 Cr | ₹46 Cr | ₹18 Cr |
| Free cash flow | ₹52 Cr | ₹13 Cr | ₹35 Cr | ₹-33 Cr |
| ROCE | 9.0% | 8.0% | 10.0% | -9.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹19 Cr | ₹19 Cr | ₹19 Cr | ₹21 Cr | ₹21 Cr | ₹21 Cr |
| Reserves | ₹140 Cr | ₹147 Cr | ₹137 Cr | ₹345 Cr | ₹672 Cr | ₹381 Cr |
| Borrowings | ₹66 Cr | ₹50 Cr | ₹336 Cr | ₹293 Cr | ₹259 Cr | ₹270 Cr |
| Other liabilities | ₹230 Cr | ₹251 Cr | ₹69 Cr | ₹64 Cr | ₹268 Cr | ₹113 Cr |
| Total liabilities | ₹455 Cr | ₹467 Cr | ₹562 Cr | ₹723 Cr | ₹1.2k Cr | ₹784 Cr |
| Fixed assets | ₹29 Cr | ₹24 Cr | ₹38 Cr | ₹34 Cr | ₹448 Cr | ₹46 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹4 Cr | ₹0 Cr |
| Investments | ₹320 Cr | ₹336 Cr | ₹381 Cr | ₹416 Cr | ₹33 Cr | ₹411 Cr |
| Other assets | ₹106 Cr | ₹108 Cr | ₹142 Cr | ₹272 Cr | ₹735 Cr | ₹327 Cr |
| Total assets | ₹455 Cr | ₹467 Cr | ₹562 Cr | ₹723 Cr | ₹1.2k Cr | ₹784 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs added +0.62 pp while the public trimmed −0.29 pp. The shareholder count grew 4% to 46,002.
- Promoters
- 58.0%
- FIIs
- 1.4%
- DIIs
- 2.0%
- Public
- 38.6%
Since Jun 2025
- DIIs +0.62 pp
- Public −0.29 pp
- Promoters −0.17 pp
How it drifted, 12 quarters
Over this window promoters fell from 65.7% to 58.0% — −7.7 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 65.7%, FIIs 0.1%, Public 34.2%.Dec '23: Promoters 65.7%, FIIs 0.3%, DIIs 0.2%, Public 33.8%.Mar '24: Promoters 60.3%, FIIs 0.4%, DIIs 8.6%, Public 30.8%.Jun '24: Promoters 60.3%, FIIs 0.3%, DIIs 4.5%, Public 34.8%.Sep '24: Promoters 59.9%, FIIs 0.4%, DIIs 4.1%, Public 35.7%.Dec '24: Promoters 59.6%, FIIs 0.5%, DIIs 3.8%, Public 36.1%.Mar '25: Promoters 59.5%, FIIs 0.7%, DIIs 2.0%, Public 37.8%.Jun '25: Promoters 58.2%, FIIs 1.6%, DIIs 1.3%, Public 38.9%.Sep '25: Promoters 58.1%, FIIs 2.2%, DIIs 1.2%, Public 38.6%.Dec '25: Promoters 58.0%, FIIs 1.4%, DIIs 0.9%, Public 39.6%.Mar '26: Promoters 58.0%, FIIs 1.2%, DIIs 1.6%, Public 39.1%.Jun '26: Promoters 58.0%, FIIs 1.4%, DIIs 2.0%, Public 38.6%.
Who is on the register
Named in the Jun 2026 filing
Every holder of AXISCADES Technologies Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Jupiter Capital Private Limited | 58.03% | unchanged |
| Sanjay Katkar | 1.56% | unchanged |
| Indian Aero Ventures Private Limited | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse AXISCADES Technologies Limited
Guides on how to read this kind of business and the numbers that matter.