AXISCADES Technologies Ltd
AXISCADES Technologies Ltd
Information TechnologyKey Fundamentals
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BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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54 extracted metrics + investor summaries across FY13–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
1- Company is expected to give good quarter
Weaknesses
7- Stock is trading at 9.39 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of 0.27% over past five years.
- Company has a low return on equity of 7.86% over last 3 years.
- Company has high debtors of 283 days.
- Promoter holding has decreased over last 3 years: -8.15%
- Working capital days have increased from 97.0 days to 167 days
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 43d agoAXISCADES Technologies trades at a market cap of ₹7,017 Cr with a PE of 97.5x and PB of 9.65x, reflecting premium valuations relative to its 11% ROE and 12% TTM sales growth. The company has shown strong profit CAGR of 21% over 5 years but pays no dividend despite consistent profitability, while promoter holding has declined by 8.13% over three years.
- Strong 5-year compounded profit growth of 21% CAGR indicates improving earnings trajectory
- 5-year stock CAGR of 80% reflects sustained market re-rating and investor interest
- TTM revenue growth of 12% demonstrates continued business momentum
- 3-year compounded profit growth of 64% shows acceleration in earnings in recent years
- ROE improved to 11% last year from a 10-year average of 6%, indicating better capital efficiency
- 5-year compounded sales growth of 17% is above the 10-year average of 12%, showing improving revenue scale
- 1-year stock CAGR of 15% indicates continued positive price momentum even on a higher base
- PE ratio of 97.5x is extremely elevated, demanding very high future growth to justify current valuation
- PB ratio of 9.65x is steep for a company with only 11% ROE, suggesting valuation is disconnected from return generation
- Zero dividend yield despite repeated profitability signals poor shareholder return policy
- Promoter holding has decreased by 8.13% over three years, raising concerns about promoter confidence
- 3-year average ROE of only 10.8% is modest for an engineering services company trading at such premium multiples
- TTM profit growth has decelerated sharply to just 1%, signaling potential earnings stagnation
- 10-year compounded profit growth of only 11% suggests the recent acceleration may not be sustainable long-term
- Debt-to-equity data is unavailable, limiting visibility into the company's leverage and financial risk profile
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 43d ago- Fine for board non-compliance Jun 29
AXISCADES paid ₹4,95,600 fine to exchanges for non-compliance with board composition norms, though the issue was regularized on March 26, 2026.
- ₹1,500 Cr aerospace divestment to Akkodis Jun 12
Completed strategic sale of Aerospace Engineering Services business to Akkodis Group for ₹1,500 crore (USD 152.35 million), representing 18.7% of market cap. Proceeds fund the 'Power 930' plan targeting ₹9,000 crore revenue and ~₹960 crore PAT by FY2030.
- Promoter pledge release on shares Jun 25
Promoter group released pledge on 4.5 lakh shares (1.06% of shareholding) on June 23, reducing encumbrance on promoter stake.
- Strategic pivot to IP-led manufacturing Jun 12
Post-divestment, AXISCADES repositions around four pillars: Aerospace Manufacturing, Defence (ACAT), AI-centric ESAI (XiDA Inc), and a new Space division, shifting from services to high-value products and IP.
- New director Abhay Maheshwari appointed Jun 29
Abhay Maheshwari appointed as Additional Director (Non-Executive, Non-Independent) effective June 29, 2026, subject to shareholder approval.
- Shareholder nod sought for slump sale Jun 27
AXISCADES seeks shareholder approval via postal ballot for slump sale of engineering services and related party transactions.
- Investor meetings in Mumbai Jun 12
Company scheduled one-on-one and group meetings with institutional investors on June 15-16, 2026 in Mumbai.
TL;DR: AXISCADES is executing a transformational pivot from engineering services to IP-led manufacturing, anchored by the ₹1,500 crore Akkodis divestment that provides a substantial war chest for growth. The company's ambitious Power 930 plan targets ₹9,000 crore revenue by FY2030 across aerospace, defence, AI, and space verticals. Minor governance issues (board composition fine) are a blemish but already resolved. The trend is strongly positive as the company de-risks its model and redeploys capital into higher-margin segments, though execution on the multi-vertical expansion remains the key risk to monitor.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 215 | 252 | 232 | 256 | 224 | 265 | 275 | 268 | 94 | 299 | 343 | 109 | 183 |
| Expenses | 181 | 216 | 202 | 223 | 192 | 231 | 234 | 231 | 88 | 252 | 280 | 109 | 175 |
| Operating Profit | 34 | 37 | 30 | 32 | 31 | 33 | 40 | 37 | 7 | 47 | 63 | 0 | 9 |
| OPM % | 16% | 15% | 13% | 13% | 14% | 13% | 15% | 14% | 7% | 16% | 18% | 0.3% | 4.7% |
| Other Income | 2 | 1 | 2 | 5 | 10 | 4 | 1 | 2 | 27 | 6 | -6 | 20 | -5 |
| Interest | 20 | 12 | 12 | 13 | 8 | 9 | 7 | 8 | 6 | 7 | 7 | 9 | 9 |
| Depreciation | 7 | 9 | 8 | 10 | 9 | 10 | 11 | 10 | 5 | 10 | 11 | 10 | 9 |
| PBT | 8 | 18 | 11 | 16 | 24 | 19 | 23 | 21 | 23 | 36 | 39 | 1 | -14 |
| Tax % | 33% | 36% | 32% | 44% | 31% | 35% | 36% | -47% | 7% | 36% | 29% | 44% | 4% |
| Net Profit | 6 | 11 | 8 | 9 | 17 | 12 | 15 | 32 | 21 | 23 | 28 | 0 | -15 |
| EPS in Rs | 1.47 | 2.88 | 1.93 | 2.08 | 4.07 | 2.91 | 3.49 | 7.24 | 4.88 | 5.42 | 6.52 | 0.1 | -3.49 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 318 | 375 | 487 | 519 | 608 | 673 | 524 | 610 | 822 | 955 | 1,031 | 531 | 934 |
| Expenses | 276 | 322 | 448 | 501 | 595 | 580 | 459 | 539 | 675 | 826 | 886 | 481 | 816 |
| Operating Profit | 42 | 54 | 39 | 18 | 13 | 93 | 65 | 72 | 146 | 129 | 144 | 50 | 119 |
| OPM % | 13% | 14% | 8% | 3.5% | 2.2% | 14% | 12% | 12% | 18% | 14% | 14% | 9% | 13% |
| Other Income | -1 | 3 | 15 | 12 | 24 | 8 | -26 | 7 | -62 | 16 | 16 | 85 | 15 |
| Interest | 3 | 2 | 13 | 14 | 25 | 30 | 24 | 17 | 37 | 58 | 34 | 28 | 32 |
| Depreciation | 9 | 10 | 12 | 19 | 20 | 33 | 26 | 25 | 27 | 34 | 40 | 25 | 40 |
| PBT | 29 | 45 | 29 | -3 | -8 | 38 | -10 | 37 | 21 | 53 | 88 | 82 | 62 |
| Tax % | 31% | 35% | 50% | 181% | -9% | 21% | 104% | 38% | 123% | 37% | 14% | 12% | — |
| Net Profit | 20 | 29 | 15 | -8 | -8 | 30 | -21 | 23 | -5 | 33 | 75 | 72 | 36 |
| EPS in Rs | 7.14 | 10.51 | 3.74 | -2.18 | -2.15 | 7.88 | -5.74 | 5.86 | -1.37 | 7.82 | 17.63 | 16.92 | 8.55 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 14 | 14 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 21 | 21 | 21 |
| Reserves | 112 | 144 | 283 | 273 | 266 | 296 | 280 | 312 | 319 | 564 | 628 | 706 |
| Borrowings | 26 | 27 | 81 | 138 | 152 | 172 | 104 | 72 | 346 | 319 | 258 | 388 |
| Other Liabilities | 36 | 58 | 77 | 328 | 337 | 375 | 340 | 392 | 222 | 231 | 216 | 351 |
| Total Liabilities | 188 | 243 | 459 | 758 | 774 | 862 | 742 | 796 | 906 | 1,135 | 1,123 | 1,466 |
| Fixed Assets | 49 | 48 | 159 | 344 | 339 | 355 | 288 | 286 | 312 | 414 | 398 | 468 |
| CWIP | 0 | 1 | 6 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 8 | 44 |
| Investments | 0 | 0 | 0 | 6 | 30 | 34 | 50 | 19 | 33 | 37 | 60 | 17 |
| Other Assets | 139 | 195 | 294 | 407 | 404 | 473 | 404 | 491 | 560 | 685 | 658 | 936 |
| Total Assets | 188 | 243 | 459 | 758 | 774 | 862 | 742 | 796 | 906 | 1,135 | 1,123 | 1,466 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 31 | 31 | 9 | -38 | 37 | 65 | 122 | 31 | 71 | 79 | 88 | -1 |
| Investing | -9 | -20 | 1 | -32 | -13 | -2 | -21 | 30 | -199 | -162 | 8 | -71 |
| Financing | -9 | -1 | 2 | 47 | -7 | -48 | -93 | -42 | 133 | 64 | -100 | 38 |
| Net Cash Flow | 13 | 10 | 12 | -23 | 17 | 14 | 8 | 18 | 4 | -19 | -3 | -34 |
| Free Cash Flow | 26 | 22 | -20 | -51 | 30 | 59 | 117 | 18 | 60 | 59 | 61 | -135 |
| CFO/OP | 87 | 80 | 81 | -160 | 376 | 86 | 186 | 62 | 57 | 78 | 78 | 64 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 70 | 82 | 63 | 117 | 92 | 90 | 89 | 87 | 80 | 89 | 107 | 283 |
| Inventory Days | — | — | 11 | 200 | 88 | 84 | 86 | 165 | 137 | 136 | 104 | 121 |
| Days Payable | — | — | 150 | 333 | 137 | 177 | 188 | 218 | 153 | 125 | 100 | 221 |
| Cash Conversion Cycle | 70 | 82 | -76 | -16 | 44 | -3 | -12 | 34 | 63 | 100 | 111 | 184 |
| Working Capital Days | 47 | 51 | 32 | 1 | -39 | -55 | -71 | -73 | 24 | 49 | 75 | 167 |
| ROCE % | 24% | 28% | 14% | 4% | 1% | 15% | 12% | 14% | 23% | 14% | 14% | 4% |
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Company Information
Axiscades Technologies Limited is a technology solutions company focussing on engineering solutions and services. [1]