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Stock Analysis

Description

AXISCADES Technologies Limited is a technology solutions company focusing on engineering solutions and services.

Key Growth Triggers

AXISCADES Technologies Limited announced its strategic expansion into the aircraft cabin interiors market, securing two pilot orders totaling USD 1.2 million from globally recognized aerospace leaders. The company highlighted 17% growth in core domains (Aerospace, Defence, ESAI) and outlined a strategy for over 40% growth in these areas and a product-led transition. Mistral Solutions Private Limited secured a forecast production order for Su-30MKI upgrade components valued at approximately Rs. 150 crores. Strategic partnerships with MBDA and EBC were deepened.

Order Book

Order Book: FY26 = Rs. 1,260 Cr

Key Red Flags

Currently no data available for Key Red Flags.

Key Dates To Watch

Currently no data available for Key Dates to Watch.

Corporate Announcements

6th Apr 26

Impact Rating: 3

AXISCADES Technologies has received a confirmation certificate from registrar KFin Technologies for the quarter ended March 31, 2026, regarding dematerialization compliance.

3rd Apr 26

Impact Rating: 6

AXISCADES Technologies Limited has established a wholly-owned subsidiary in Dubai, UAE, on April 02, 2026, with initial capital of Dhirams 150,000 to explore new regional business opportunities.

1st Apr 26

Impact Rating: 6

Jupiter Capital Private Limited announced the release of 6,10,000 shares, or 1.44% of total share capital, previously pledged with Aditya Birla Finance Ltd. for AXISCADES Technologies Limited.

27th Mar 26

Impact Rating: 7

AXISCADES Technologies Ltd. announced the appointment of Giridhar Aramane, former Defence Secretary, as its Non-Executive Independent Director on March 27, 2026, aiming to boost strategic oversight and governance.

26th Mar 26

Impact Rating: 5

AXISCADES Technologies announced Mr. Giridhar Aramane's appointment as Additional Director (Non-Executive, Independent) effective March 26, 2026. He is a seasoned IAS officer with extensive experience in government roles.

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	Bharat Electron	415.65	53.36	303904.52	0.58	1287.16	17.88	5792.09	25.78	38.88	25152.11	29.52	5695.67	1287.77	14.09	13.21	0.00
2.	Hind.Aeronautics	4525.10	35.74	302684.35	0.88	1669.05	10.82	6628.61	10.92	33.88	32104.78	30.58	8469.33	1669.07	8.15	8.82	0.00
3.	Bharat Dynamics	1539.50	86.29	56445.11	0.30	215.88	76.19	1147.03	110.55	19.66	4004.08	14.19	654.13	215.88	13.38	4.94	0.00
4.	Garden Reach Sh.	2503.60	46.54	28686.67	0.55	153.79	57.30	1677.38	45.49	36.64	5900.30	9.56	616.41	153.79	12.49	5.02	0.01
5.	Data Pattern	2693.40	64.57	15071.97	0.29	49.19	62.45	307.46	237.79	21.00	920.04	33.05	233.43	49.19	9.81	12.18	0.00
6.	Zen Technologies	1320.00	48.21	11920.53	0.15	61.91	-6.29	173.57	-28.23	37.22	808.97	38.44	247.25	58.73	6.63	21.38	0.01
7.	Aequs	140.56	–	9446.98	0.00	-16.98	41.02	537.16	17.04	1.11	924.61	8.60	-63.19	-16.69	–	-3.37	1.10
8.	AXISCADES Tech.	1497.30	206.91	6366.56	0.00	0.35	-86.22	105.07	8.80	10.04	412.87	12.82	30.77	0.35	16.06	5.99	0.54
–	Median: 26 Co.	655.28	62.33	5094.43	0.11	14.2	27.02	122.82	19.21	18.09	415.0	21.82	38.56	14.2	8.12	7.67	0.08

Quarterly Results

Standalone figures in ₹ crores

	Dec 2022	Dec 2023	Dec 2024	Jun 2023	Jun 2024	Jun 2025	Mar 2023	Mar 2024	Mar 2025	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales	75.80	91.84	103.76	81.07	97.55	103.94	78.74	97.64	100.10	67.40	82.48	96.57	105.07
Expenses	60.26	76.89	85.83	68.87	75.24	90.79	77.61	81.22	87.60	54.06	68.54	82.36	95.70
Operating Profit	15.54	14.95	17.93	12.20	22.31	13.15	1.13	16.42	12.50	13.34	13.94	14.21	9.37
Other Income	28.13	0.65	-0.24	0.23	8.79	5.03	0.34	3.41	1.74	0.74	0.55	2.33	2.97
Profit before tax	30.25	0.54	5.44	-10.99	19.30	7.25	-14.83	4.37	2.86	3.14	-0.09	3.57	2.05
Tax %	-3.47%	0.00%	30.51%	-27.39%	20.98%	9.52%	-1.69%	18.31%	-564.69%	13.06%	0.00%	28.85%	82.93%
Net Profit	31.29	0.54	3.78	-7.98	15.25	6.56	-14.59	3.56	19.02	2.72	-0.09	2.54	0.35
EPS in Rs	8.19	0.14	0.89	-2.09	3.64	1.54	-3.82	0.85	4.48	0.72	-0.02	0.60	0.08

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	181	188	235	235	233	225	232	129	182	283	353	398	413
Expenses	162	159	187	209	226	220	203	126	166	242	301	331	360
Operating Profit	19	30	48	26	6	5	29	4	16	41	52	67	53
Other Income	2	-2	2	6	4	16	3	-41	10	-15	10	12	10
Interest	4	2	2	2	8	17	20	15	12	34	54	31	27
Depreciation	7	8	9	10	14	9	13	12	10	11	14	18	18
Profit before tax	10	17	40	20	-11	-5	-1	-64	4	-19	-6	31	18
Net Profit	8	11	26	13	-9	-4	-4	-63	3	-20	-4	41	30
EPS in Rs	4.11	4.16	9.67	3.42	-2.49	-1.06	-1.19	-16.75	0.81	-5.19	-0.95	9.55	6.99
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	–

Balance Sheet

Standalone figures in ₹ crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	10	14	14	19	19	19	19	19	19	19	21	21	21
Reserves	67	74	102	222	211	207	200	140	147	137	345	371	375
Borrowings	33	26	24	25	66	83	96	66	50	336	293	223	213
Other Liabilities	29	25	46	30	254	249	254	230	251	69	64	73	81
Total Liabilities	139	139	186	296	549	558	569	455	467	562	723	689	690
Fixed Assets	13	23	21	29	23	17	27	29	24	38	34	39	34
Gross Block	52.02	70.22	77.33	38.02	45.40	47.82	70.03	74.94	70.30	87.30	89.41	98.67	–
Accumulated Depreciation	39.33	47.36	56.40	8.54	22.23	31.01	43.52	46.32	46.41	48.94	55.27	60.11	–
CWIP	14	0	1	0	0	0	1	0	0	0	0	0	0
Investments	23	23	23	142	384	387	387	320	336	381	416	416	416
Other Assets	89	94	141	124	142	154	155	106	108	142	272	235	241
Total Assets	139	139	186	296	549	558	569	455	467	562	723	689	690

Cash Flows

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	13	18	26	21	-11	-3	32	53	11	56	20	46
Cash from Investing Activity	-5	-3	-22	-10	-39	-6	-5	1	1	-194	-123	43
Cash from Financing Activity	-6	-9	-3	1	38	6	-25	-45	-22	148	103	-95
Net Cash Flow	2	6	1	11	-11	-3	2	10	-10	10	0	-6

Ratios

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	88	74	96	71	94	113	90	80	77	67	75	71
Inventory Days	–	–	–	–	–	–	–	–	–	–	–	–
Days Payable	–	–	–	–	–	–	–	–	–	–	–	–
Cash Conversion Cycle	88	74	96	71	94	113	90	80	77	67	75	71
Working Capital Days	21	43	52	55	-118	-147	-221	-427	-418	-137	-37	33
ROCE %	18%	20%	33%	11%	-0%	-1%	6%	-1%	4%	9%	8%	10%

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	66.18%	66.18%	66.18%	65.74%	65.74%	60.30%	60.27%	59.86%	59.56%	59.49%	58.20%	58.08%
FIIs	0.01%	0.08%	0.08%	0.08%	0.31%	0.38%	0.34%	0.40%	0.51%	0.69%	1.62%	2.17%
DIIs	0.00%	0.00%	0.00%	0.00%	0.16%	8.56%	4.54%	4.08%	3.82%	2.03%	1.34%	1.16%
Public	33.81%	33.73%	33.73%	34.18%	33.79%	30.77%	34.83%	35.66%	36.10%	37.80%	38.85%	38.57%