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Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹8183 Cr.
Stock P/E
108.7
P/B
11.2
Current Price
₹1924.1
Book Value
₹ 171.1
Face Value
5
52W High
₹2210
52W Low
₹ 1061
Dividend Yield
0%

Axiscades Tech. Overview

Business

Axiscades Technologies Ltd. is a leading product engineering and technology solutions company primarily serving the aerospace, defence, heavy engineering, automotive, and energy sectors. The company provides a range of services including product design and development, digital engineering solutions, manufacturing engineering, embedded software and hardware development, and industrial IoT solutions. Its core business model involves leveraging its engineering expertise to offer end-to-end solutions, from concept to commissioning, helping clients innovate, optimize processes, and enhance product lifecycle management. It makes money by charging for its engineering services, specialized product development, and integrated technology solutions delivered to its client base.

Revenue Mix

Axiscades Technologies operates across several key industry verticals. While specific revenue contributions can vary and are often detailed in annual reports, its primary segments include:

Aerospace & Defence: A significant focus area, providing engineering services for aircraft design, embedded systems, avionics, and various defence platforms.

Heavy Engineering & Industrial Products: Services for machinery, industrial equipment, and large-scale manufacturing.

Automotive: Engineering and design services for the automotive industry, including electric vehicles and autonomous systems.

Energy & Utilities: Solutions for power generation, transmission, and related infrastructure.

The company's revenue mix generally leans heavily towards its engineering services, with a growing emphasis on digital and embedded technologies across these sectors.

Industry

Axiscades operates in the Indian Defence sector as a private-sector player primarily focused on engineering and technology solutions. The Indian defence industry is characterized by a significant presence of public sector undertakings (PSUs) but is increasingly opening up to private participation, driven by "Make in India" and "Atmanirbhar Bharat" initiatives. Axiscades positions itself as a specialized technology and engineering partner, offering niche capabilities that complement the broader manufacturing and integration efforts of larger players and government entities. Its standing is as a significant provider of complex engineering services rather than a primary manufacturer of large defence platforms. Peers would include other engineering services providers with defence domain expertise, both domestic and international.

MOAT

Axiscades possesses several potential competitive advantages:

Domain Expertise & Certifications: Deep engineering knowledge in highly regulated sectors like aerospace and defence, coupled with necessary certifications, creates barriers to entry.

Long-term Client Relationships: Building trust and delivering complex projects fosters long-term engagements, leading to recurring business.

Specialized Technology & Talent: Expertise in niche areas like embedded systems, digital twins, and industrial IoT for critical sectors.

Strategic Partnerships: Collaborations with global OEMs and defence integrators can provide access to advanced projects and technology.

Regulatory Alignment: Aligning with government policies promoting indigenous defence manufacturing and technology development provides a tailwind.

Growth Drivers

Increased Defence Spending & Modernization: India's growing defence budget and focus on modernizing its armed forces drive demand for advanced engineering and indigenous technology.

"Make in India" & "Atmanirbhar Bharat" Initiatives: Government push for self-reliance in defence manufacturing and R&D creates opportunities for domestic players like Axiscades.

Offset Obligations: International defence deals often include offset clauses, benefiting Indian engineering and technology firms.

Digital Transformation: Rising demand for digital engineering, embedded systems, AI, and IoT solutions across its served industries.

Aerospace Sector Growth: Revival and growth in the civil aerospace sector, alongside military aviation projects.

Risks

Government Policy & Budget Volatility: Dependence on government defence procurement and policies, which can change, impacting project timelines and funding.

Geopolitical Instability: Global events can affect defence budgets or lead to project delays.

Technological Obsolescence: Need for continuous investment in R&D to stay competitive in rapidly evolving technology landscapes.

Customer Concentration: Reliance on a few large defence or aerospace clients could pose a risk if those relationships are impacted.

Talent Acquisition & Retention: Difficulty in finding and retaining specialized engineering talent.

Project Delays & Cost Overruns: Complex engineering projects are susceptible to delays and cost escalations.

Intense Competition: Competition from both domestic and international engineering service providers.

Management & Ownership

Axiscades Technologies Ltd. is part of the Axiscades Group. The company has a promoter group holding a significant stake, reflecting a committed ownership. The management team typically comprises experienced professionals from the engineering services and technology sectors. Their focus has been on expanding capabilities, securing strategic partnerships, and leveraging government initiatives in defence and aerospace. The ownership structure generally includes the promoter group, institutional investors, and public shareholders.

Outlook

Axiscades Technologies is well-positioned to capitalize on India's strong push for indigenous defence manufacturing and technological self-reliance, coupled with global trends in digital engineering and aerospace modernization. The company's specialized engineering capabilities in critical sectors like defence and aerospace provide a robust demand outlook. However, its growth is intrinsically linked to government spending cycles, regulatory changes, and intense competition in the engineering services market. While significant opportunities exist from "Make in India" and defence modernization, the company must effectively manage project execution, continually innovate, and diversify its client base to mitigate risks associated with geopolitical shifts and policy changes. Its ability to scale its niche capabilities and secure larger, long-term contracts will be crucial for sustained growth.

Axiscades Tech. Share Price

Live · BSE / NSE · Inception: 1990
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Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Axiscades Tech. Quarterly Results

#(Fig in Cr.) Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Net Sales 232 261 224 265 275 268 244 299 343 273
Other Income 2 0 10 4 2 4 11 6 2 4
Total Income 234 261 234 269 277 272 254 305 345 277
Total Expenditure 202 223 192 231 234 231 210 252 280 239
Operating Profit 32 38 42 38 43 41 45 53 65 38
Interest 12 13 8 9 7 8 7 7 7 10
Depreciation 8 10 9 10 11 10 9 10 11 14
Exceptional Income / Expenses 0 0 0 -0 -2 -2 0 0 -8 -3
Profit Before Tax 11 16 24 19 23 21 28 36 39 11
Provision for Tax 3 7 7 7 8 -10 7 13 11 10
Profit After Tax 8 9 17 12 15 32 21 23 28 1
Adjustments -0 -0 0 0 0 -1 -0 -0 0 -0
Profit After Adjustments 7 9 17 12 15 31 21 23 28 0
Adjusted Earnings Per Share 1.9 2.1 4.1 2.9 3.5 7.2 4.9 5.4 6.5 0.1

Axiscades Tech. Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 318 375 487 519 608 673 524 610 822 955 1031 1159
Other Income 2 4 15 15 9 8 14 9 6 16 21 23
Total Income 319 379 501 534 617 680 538 619 828 971 1052 1181
Total Expenditure 276 322 448 501 594 580 459 538 675 826 887 981
Operating Profit 44 58 54 33 23 101 80 81 152 145 164 201
Interest 3 2 13 14 25 30 24 17 37 58 34 31
Depreciation 9 10 12 19 20 33 26 25 27 34 40 44
Exceptional Income / Expenses -3 -1 1 -3 15 0 -41 -2 -68 0 -4 -11
Profit Before Tax 29 45 29 -3 -8 38 -10 37 21 53 88 114
Provision for Tax 9 16 14 5 -1 8 11 14 26 20 12 41
Profit After Tax 20 29 15 -8 -8 30 -21 23 -5 33 75 73
Adjustments -0 -0 -0 -0 -0 -1 -0 -0 -0 -1 -0 0
Profit After Adjustments 19 29 14 -8 -8 30 -22 22 -5 33 75 72
Adjusted Earnings Per Share 7.1 10.5 3.7 -2.2 -2.2 7.9 -5.7 5.9 -1.4 7.8 17.6 16.9

Axiscades Tech. Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 125 158 301 292 285 315 299 331 338 585 649
Minority's Interest 2 3 3 3 4 4 5 5 6 6 7
Borrowings 1 0 27 73 49 39 21 0 171 106 109
Other Non-Current Liabilities 2 1 48 98 83 61 50 -6 12 75 39
Total Current Liabilities 55 79 122 276 325 409 340 436 358 345 290
Total Liabilities 185 241 501 741 745 828 714 766 885 1118 1095
Fixed Assets 49 48 159 344 339 355 288 286 312 414 398
Other Non-Current Assets 14 28 106 52 70 70 62 48 34 41 54
Total Current Assets 123 165 236 346 336 403 364 432 538 655 643
Total Assets 185 241 501 741 745 828 714 766 885 1118 1095

Axiscades Tech. Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 3 17 24 36 13 31 45 53 71 75 56
Cash Flow from Operating Activities 31 31 9 -38 37 65 122 31 71 79 88
Cash Flow from Investing Activities -8 -21 1 -44 -13 -3 -22 30 -201 -163 9
Cash Flow from Financing Activities -9 -1 2 47 -7 -48 -93 -42 133 64 -100
Net Cash Inflow / Outflow 14 9 12 -34 17 14 7 18 3 -20 -3
Closing Cash & Cash Equivalent 17 26 36 13 31 45 53 71 75 56 52

Axiscades Tech. Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 7.14 10.51 3.74 -2.18 -2.15 7.88 -5.74 5.86 -1.37 7.82 17.63
CEPS(Rs) 10.72 14.41 7.08 2.9 3.2 16.69 1.27 12.59 5.69 16.02 27.03
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 46.07 57.99 79.83 77.25 75.38 82.99 78.24 84.98 84.92 135.28 152.57
Core EBITDA Margin(%) 13.22 14.3 8.05 3.54 2.25 13.87 12.46 11.77 17.83 13.5 13.94
EBIT Margin(%) 9.86 12.47 8.65 2.25 2.79 10.16 2.55 8.8 7.04 11.6 11.74
Pre Tax Margin(%) 9.07 11.92 5.92 -0.54 -1.38 5.7 -1.98 6.02 2.56 5.55 8.49
PAT Margin (%) 6.24 7.72 2.99 -1.5 -1.26 4.5 -4.05 3.72 -0.58 3.5 7.3
Cash Profit Margin (%) 9.18 10.44 5.5 2.11 1.99 9.37 0.91 7.82 2.64 7.04 11.15
ROA(%) 11.1 13.6 3.92 -1.26 -1.03 3.85 -2.75 3.06 -0.58 3.34 6.81
ROE(%) 17.77 20.49 6.34 -2.63 -2.66 10.13 -6.97 7.34 -1.48 7.49 12.38
ROCE(%) 21.9 27.8 14.83 2.88 3.91 15.26 3.22 14.29 11.21 15.01 14.56
Receivable days 76.19 70.42 63.15 87.92 95.71 86.59 102.41 81.55 72.01 78.94 94.89
Inventory Days 0 0 1.46 11.28 15.11 10.79 14.95 22.39 26.08 25.83 23.05
Payable days 0 0 124.79 257.88 164.88 151.55 186.09 187.94 147.3 136.58 104.28
PER(x) 47.26 27.26 43.24 0 0 3.53 0 21.68 0 70.67 50.38
Price/Book(x) 7.32 4.94 2.02 1.8 0.81 0.34 0.51 1.5 3.15 4.09 5.82
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 2.89 2.06 1.27 1.16 0.53 0.27 0.26 0.7 1.51 2.52 3.76
EV/Core EBITDA(x) 21.03 13.42 11.52 17.96 14.3 1.77 1.74 5.26 8.12 16.63 23.56
Net Sales Growth(%) 3.51 18.2 29.67 6.65 17.06 10.72 -22.15 16.5 34.62 16.25 7.92
EBIT Growth(%) 33.25 49.44 -10.08 -72.25 44.98 303.62 -80.43 301.47 7.73 91.48 9.24
PAT Growth(%) 23.96 46.35 -49.81 -153.69 1.76 494.74 -170 206.95 -121.16 796.29 125.34
EPS Growth(%) -5.45 47.23 -64.43 -158.44 1.41 465.84 -172.81 202.21 -123.36 670.96 125.46
Debt/Equity(x) 0.21 0.17 0.27 0.47 0.53 0.46 0.25 0.15 0.97 0.42 0.29
Current Ratio(x) 2.24 2.08 1.94 1.25 1.03 0.99 1.07 0.99 1.5 1.9 2.22
Quick Ratio(x) 2.25 2.11 1.94 1.15 0.97 0.94 1 0.87 1.32 1.7 2.01
Interest Cover(x) 12.5 22.76 3.18 0.81 0.67 2.28 0.56 3.17 1.57 1.92 3.61
Total Debt/Mcap(x) 0.03 0.04 0.13 0.26 0.66 1.37 0.48 0.1 0.31 0.1 0.05

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +8% +19% +9% +12%
Operating Profit CAGR +13% +27% +10% +14%
PAT CAGR +127% +48% +20% +14%
Share Price CAGR +70% +71% +81% +22%
ROE Average +12% +6% +4% +6%
ROCE Average +15% +14% +12% +13%

Axiscades Tech. Shareholding Pattern

Latest · Mar 2026
100% held
Promoters 58.05 %
FII 1.15 %
DII (MF + Insurance) 1.63 %
Public (retail) 41.95 %
# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 65.7460.360.2759.8659.5659.4958.258.0858.0558.05
FII 0.310.370.340.40.520.691.612.181.451.15
DII 0.168.554.544.083.822.021.341.160.941.63
Public 34.2639.739.7340.1440.4440.5141.841.9241.9541.95
Others 0000000000
Total 100100100100100100100100100100

Axiscades Tech. Peer Comparison

Axiscades Tech. Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Axiscades Tech. Pros & Cons

Pros

  • Debtor days have improved from 136.58 to 104.28days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 6% over the last 3 years.
  • Stock is trading at 11.2 times its book value.
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