AXISCADES Technologies LimitedCapital Goods & EngineeringAXISCADES
Q1 FY27 concall · earnings callAXISCADES Technologies Limited
AXISCADES reported a record quarterly revenue of Rs 346 Cr while booking a net loss due to one-off costs from its strategic pivot to a manufacturing-focused company in aerospace, defense, electronics, and space.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Consolidated Revenue | ₹346 Cr | 42% YoY | |
| Continuing Operations Revenue | ₹183 Cr | 94% YoY | |
| Reported PAT | −₹14.8 Cr | — | |
| Defence Business Revenue | ₹125 Cr | 112% YoY | |
| XiDA (ESAI) Revenue | ₹49.5 Cr | 63% YoY | |
| Assured Defence Forecast Visibility | ₹4,557 Cr | — |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹274.15 Cr+18.4% YoY+3.7% QoQ | ₹14.76 Cr+95.8% YoY+20.5% QoQ | ₹3.50+81.3% YoY+19.5% QoQ |
| Q2 FY25 | ₹264.33 Cr+5.1% YoY+18.3% QoQ | ₹12.25 Cr+9.7% YoY-27% QoQ | ₹2.93+1.4% YoY-28% QoQ |
| Q1 FY25 | ₹223.51 Cr+4.1% YoY-12.6% QoQ | ₹16.77 Cr+193.7% YoY+86.5% QoQ | ₹4.07+176.9% YoY+92.9% QoQ |
| Q4 FY24 | ₹255.65 Cr+13.1% YoY+10.4% QoQ | ₹8.99 Cr-44% YoY+19.2% QoQ | ₹2.11-49.4% YoY+9.3% QoQ |
| Q3 FY24 | ₹231.48 Cr+7.3% YoY-7.9% QoQ | ₹7.54 CrTurned profitable YoY-32.5% QoQ | ₹1.93Turned positive YoY-33.2% QoQ |
TL;DR
- Consolidated revenue of Rs 346 Cr, up 42% YoY, the highest in company's history.
- Reported a net loss of Rs 14.8 Cr due to one-off provisioning and transaction costs related to divestments.
- Divestment of services businesses is largely complete, with the company focusing on continuing operations in defense, aerospace manufacturing, and XiDA (electronics/semiconductors).
- Continuing operations revenue grew 94% YoY to Rs 183 Cr.
- Defense business reported record revenue of Rs 125 Cr, up 112% YoY, with assured forecast visibility of over Rs 4,500 Cr.
- XiDA (ESAI) business delivered Rs 49.5 Cr revenue at a 33% EBITDA margin.
Said on the call
“This quarter’s reported loss is the cost of running two companies inside one set of accounts.”
From the Q&A
| Topic | What management said |
|---|---|
| Rationale for Divesting Aerospace Services | Management stated the divestment was a strategic move to shift from services to a product and manufacturing company, leveraging the sale proceeds for the Power 930 vision without equity dilution, as manufacturing offers stickier, long-term contracts. |
| FY27 Profit Guidance | When asked about normalized PAT guidance for FY27, management indicated it would be broadly around 50% of the guided Rs 270 Cr EBITDA, i.e., approximately Rs 135 Cr, with acquisitions contributing in subsequent quarters. |
| Acquisition Timelines | Management confirmed an aerospace acquisition (AS9100 certified) is in advanced due diligence and expected to close in Q2, a XiDA business transfer acquisition will close this quarter, and more acquisitions are planned for Q3 and Q4 FY27. |
| Defense Order Execution Timeline | The assured forecast visibility of over Rs 4,500 Cr is expected to be executed before FY30, with some potential spillover into the fourth year, supporting strong growth. |
| Update on Seekers for BrahMos | Management is in an advanced stage of realizing a prototype seeker for BrahMos NG and is part of the EOI process, with business expected from next financial year. |
| Timing of Extraordinary Gain | The Rs 1,255 Cr extraordinary gain from the divestment will be recognized in the P&L upon receipt of proceeds, with about Rs 200+ Cr in Q2 and the bulk in early Q3. |
Guidance
- FY27 revenue guidance of Rs 1,377 Cr on a continuing operations, pro forma basis.
- EBITDA from divested business to be replaced through organic growth and acquisitions by FY27.
- Defense business expected to grow over 75% year-on-year for the next several years.
- ESAI (XiDA) business expected to grow over 100% this year.
- Targeting an annualized run rate of Rs 375 Cr revenue and Rs 84 Cr EBITDA in aerospace manufacturing by Q4 FY27.
- Aerospace acquisition targeted to close in Q2 FY27.
- Exit of non-core ADD Solutions unit targeted by Q4 FY27.
- Recovery of remaining deferred revenue (from Rs 142 Cr) planned across Q2 and Q3.
Source
Summary written from the transcript filed by AXISCADES Technologies Limited for the call held on 20 Aug 2026; published 20 Aug 2026, 17:21 IST.
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