Provides engineering services and defence solutions through two reportable segments. The Technology Services and Solutions segment generated Rs 781.30 crore in FY26, making up 67.4% of segment revenue, with EBIT of Rs 66.36 crore. The Strategic Technology Solutions segment — which was labelled "Defence" in earlier quarterly filings before being renamed — generated Rs 377.70 crore (32.6% of segment revenue) with EBIT of Rs 82.86 crore. Employee costs are the largest expense at 47.8% of revenue, followed by materials at 21.9% and other operating expenses at 16.3%. The company is undergoing a major restructuring: it is divesting its Aerospace Engineering Services business to Akkodis entities in two tranches for a combined programme value of about US$237 million (~Rs 2,256 crore). It bought a 32,847 sq m plot in Telangana for about Rs 39.42 crore to set up a Defence Hardware Manufacturing and Article Integration unit. The company has outlined a 'Power 930' plan targeting Rs 9,000 crore revenue and Rs 960 crore PAT by FY2030, with Rs 1,800 crore earmarked for acquisitions and platform build-out across Aerospace Manufacturing, Defence Solutions, XiDA Inc (AI-centric ESAI), and Space Systems. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Technology Services and Solutions (67%), Strategic Technology Solutions (33%). Engineering services business in transition towards defence manufacturing and aerospace platforms
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 610 | 822 | 952 | 1,031 | 1,159 |
| EBITDA (ex other income) | 69 | 78 | 130 | 139 | 166 |
| margin % | 11.3 | 9.4 | 13.7 | 13.4 | 14.4 |
| Owners' profit | 22 | (5) | 33 | 75 | 72 |
| EPS, as reported (₹) | 5.86 | (1.37) | 8.40 | 17.76 | 16.92 |
| ROE % · ROCE % | 6.7 · 14.8 | (1.4) · 10.4 | 5.6 · 13.8 | 11.5 · 14.3 | 9.8 · 15.7 |
| Debt / equity (x) | 0.14 | 0.91 | 0.40 | 0.29 | 0.38 |
| Cash from operations | 31 | 71 | 79 | 88 | (1) |
| Capex | (14) | (11) | (20) | (38) | (133) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 264 | 274 | 268 | 244 | 299 | 343 | 273 | 183 |
| Profit before tax | 19 | 23 | 21 | 28 | 36 | 39 | 11 | (6) |
| Net profit | 12 | 15 | 31 | 21 | 23 | 28 | 0 | (15) |
| EPS (₹) | 2.93 | 3.50 | 7.24 | 4.88 | 5.42 | 6.52 | 0.10 | (3.49) |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| (a) Technology Services and Solutions | 597 | 51.5 |
| (b) Strategic Technology Solutions | 67 | 5.8 |
| (b) Defence | 251 | 21.7 |
| Technology Services and Solutions | 185 | 15.9 |
| Defence | 59 | 5.1 |
| Total, before eliminations | 1,159 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · AXISCADES to host Investor Day and plant visit on Sep 17, 2026 | board shareholder meetings | low | — | — |
| 11 Sept 2026 · AXISCADES completes 90% acquisition of Cloud Wave Tech for INR 234 cr | strategic transactions | high | — | — |
| 9 Sept 2026 · AGM Notice Dispatch to Shareholders Without Registered Email | board shareholder meetings | low | — | — |
| 6 Sept 2026 · Notice of 36th AGM and e-Voting information published in newspapers | compliance | minimal | — | — |
| 5 Sept 2026 · Sustainability Report FY26 filed with gains and exchange penalty | compliance | minimal | — | — |
| 5 Sept 2026 · AXISCADES 36th AGM on Sept 28 with director changes, RPT and borrowing hike | board shareholder meetings | low | — | — |
| 5 Sept 2026 · AXISCADES files FY26 Annual Report and 36th AGM notice | board shareholder meetings | medium | — | — |
| 5 Sept 2026 · AXISCADES board approves Rs 200 crore NCD raise at 12.50 percent for acquisition | fund raising | high | — | — |
| 3 Sept 2026 · AXISCADES to attend Avendus Spark Small Cap Investor Conference on Sep 8 | board shareholder meetings | low | — | — |
| 3 Sept 2026 · AXISCADES to attend Avendus Spark Small Cap Investor Conference on Sep 8 | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| HINDUSTAN AERONAUTICS LTD |
| 3,28,037 |
| 35.2 |
| 7.99 |
| 24.1 |
| 22.2 |
| 13.7 |
| 7.8 |
| 44.0 |
| BHARAT ELECTRONICS LTD | 2,95,572 | 48.1 | 12.31 | 34.1 | 25.3 | 31.9 | 14.4 | 28.1 |
| BHARAT DYNAMICS LIMITED | 43,621 | 83.7 | 10.29 | — | 9.9 | 7.2 | — | 32.6 |
| GARDEN REACH SHIP&ENG LTD | 28,027 | 35.0 | 10.67 | — | 28.5 | 36.2 | — | 13.7 |
| DATA PATTERNS INDIA LTD | 27,042 | 100.9 | 15.58 | — | 15.6 | 20.3 | — | 33.3 |
| ASTRA MICROWAVE LTD | 16,031 | 84.8 | 12.20 | 45.8 | 14.7 | 17.2 | 12.7 | 20.1 |
| APOLLO MICRO SYSTEMS LTD | 15,650 | 121.7 | 11.96 | 71.7 | 8.2 | 10.4 | 34.8 | 22.3 |
| ZEN TECHNOLOGIES LIMITED | 15,599 | 86.2 | 8.00 | 46.5 | 11.2 | 15.1 | 65.9 | 38.5 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 214.0 | 83.7 | 22 of 23 | 5% |
| P/B | 10.6 | 10.6 | 12 of 23 | 50% |
| ROCE | 12.3 | 13.6 | 16 of 26 | 40% |
| ROE | 9.8 | 10.9 | 14 of 23 | 41% |
| Debt / Equity | 0.4 | 0.0 | 21 of 23 | 9% |
| EBITDA margin | 6.1 | 22.3 | 20 of 23 | 14% |
| Revenue growth | (24.8) | 24.9 | 20 of 23 | 14% |
| Profit growth | (170.8) | 14.9 | 19 of 21 | 10% |
| Market cap | 7789 | 7486 | 13 of 26 | 52% |
| A rating (BUY / ADD / REDUCE / SELL) |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
