Axiscades Technologies Limited (AXISCADES)

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Axiscades Technologies Limited (AXISCADES) · mywealthgrid

About

Axiscades operates in Aerospace & Defense (Industrials sector) with ₹6,310 Cr market cap. Quarterly revenues ₹103–343 Cr reflect project-driven business; OPM averages 15.32% with ROE 10.45%.

Face value: ₹5

Market cap

₹9,806 Cr

P/E

269.8×

P/B

13.5×

Dividend yield

ROE

10.4%

ROCE

17.7%

Debt / equity

0.38

OPM

15.3%

EPS (TTM)

₹8.5

Book value

₹171.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation: PE 87.74 elevated against ROE 10.45%; verify order book depth and capex plans support multiple.

Earnings volatility: Net profit ₹0.4–27.7 Cr across quarters; OPM ranges 8.92–18.28%, indicating project lumpiness or customer concentration.

Sector cyclicality: Defense capex depends on government budgets and geopolitics; verify forward visibility and budget commitments.

Institutional backing: FII and DII combined hold 3.42%; verify analyst coverage and trading liquidity.

Generated analysis · source review pending

Growth drivers

Capacity utilization: Revenue ranges ₹103–343 Cr; verify current asset deployment and capex expansion plans.

Order conversion: Profit ₹0.4–27.7 Cr reflects project cycles; verify forward contract pipeline.

Margin expansion: OPM ranges 8.92–18.28% from 15.32% average; higher volumes expand margins if fixed costs are significant.

Sector trends: Positioned in India Aerospace & Defense; verify defense budget trends and Make in India adoption.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹2,307.3+11.6%1Y

Quick read

rule-based

Pros

+Revenue CAGR of 17.2% over the last 5 years

Cons

−Low return on equity of 9.9% (3-yr avg)
−Expensive at 269.8× trailing earnings
−Trading at 13.5× book value

Research score

Structured signal from quality, growth, valuation and momentum.

19/100

Business quality: 42
Growth: 16
Valuation: 0

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MICROCAP 250 NIFTY TOTAL MARKET

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	519	604	673	524	610	822	952	1,031	1,159
COGS	55	95	103	99	117	179	186	213	238
Gross profit	464	510	570	425	494	642	767	817	921
	447	502	479	361	423	497	636	675	744
	18	8	92	64	70	146	130	142	177
OPM %	3.4%	1.3%	13.6%	12.3%	11.5%	17.7%	13.7%	13.8%	15.3%
Depreciation	19	20	33	26	25	27	34	40	44
Interest	14	24	28	23	16	36	56	32	31
	12	27	8	-26	7	-62	13	17	12
Profit before tax	-3	-8	38	-10	37	21	53	88	114
Tax	5	-1	8	11	14	26	20	12	42
Tax %	180.9%	-8.6%	21.1%	104.3%	38.3%	122.8%	37%	14%	36.6%
	-8	-8	30	-21	23	-5	33	75	72
PAT margin %	-1.5%	-1.3%	4.5%	-4.1%	3.7%	-0.6%	3.5%	7.3%	6.2%
EPS (₹)	-2.2	-2.2	7.9	-5.7	5.9	-1.4	8.4	17.8	16.9
EPS adjusted (₹)	-2.1	-2.2	7.9	-5.7	5.9	-1.4	7.8	17.6	16.9
Annual report	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	19	19	19	19	19	19	19	21	21	21
Reserves	270	273	266	296	280	312	319	564	628	706
Minority interest	3	3	4	4	5	5	6	6	7	7
	74	138	132	122	73	49	314	238	189	276
	180	325	351	417	366	409	247	309	282	455
Total equity & liabilities	545	758	771	859	742	794	904	1,139	1,127	1,466
	154	344	339	261	192	198	197	261	259	281
CWIP	3	1	0	—	96	87	0	—	0	44
Investments	0	6	28	32	50	19	149	189	198	195
	388	407	404	565	404	489	559	689	670	946
Total assets	545	758	771	859	742	794	904	1,139	1,127	1,466

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Technology Services and Solutions	781.3	66.36	615.63	285.59	330.04	20.11
Strategic Technology Solutions	377.7	82.86

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	84.4%	84.8%	81.2%	80.9%	78.2%	80.5%	79.3%	79.5%
EBITDA margin %	1.4%	13.6%	12.2%	11.6%	17.7%	13.7%	13.8%	15.3%
EBIT margin %	-1.9%	8.8%	7.3%	7.5%	14.5%	10.1%	10%	11.5%
PAT margin %	-1.3%	4.5%	-4.1%	3.7%	-0.6%	3.5%	7.3%	6.2%
Working capital
Receivable days	92	90	89	87	80	90	107	130
Inventory days	78	70	86	161	134	136	104	121
Payable days	137	177	188	218	153	125	100	220
NWC days	34	-17	-12	31	61	101	111	31
Leverage
Current ratio	1.03	0.99	1.07	0.99	1.51	1.9	2.22	1.53
Debt to EBITDA	15.4	1.33	1.14	0.69	2.16	1.83	1.33	1.56
Debt to equity	0.46	0.39	0.24	0.15	0.93	0.41	0.29	0.38
Interest coverage	0.1	2.4	2.3	3.5	3.5	1.9	3.8	5
Asset turnover	0.78	0.78	0.71	0.77	0.91	0.84	0.91	0.79
Return ratios
Return on assets %	-1%	3.5%	-2.9%	2.9%	-0.5%	2.9%	6.7%	4.9%
Return on capital employed %	0.3%	14.9%	12.3%	14.4%	27.6%	16.3%	15.2%	17.7%
Return on equity %	-2.7%	9.6%	-7.1%	6.8%	-1.4%	5.7%	11.6%	9.9%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	65.74%	65.74%	60.3%	60.27%	59.86%	59.56%	59.49%	58.2%	58.08%	58.05%	58.05%	58.03%
	0.08%	0.31%	0.37%	0.34%	0.4%	0.52%	0.69%	1.61%	2.18%	1.45%	1.15%	1.45%
	0%	0.16%	8.55%	4.55%	4.08%	3.82%	2.03%	1.35%	1.16%	0.94%	1.63%	1.97%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	34.18%	33.79%	30.78%	34.84%	35.66%	36.1%	37.79%	38.84%	38.58%	39.56%	39.17%	38.55%
No. of shareholders	—	—	—	—	—	—	—	—	44,077	45,345	43,908	46,002

Promoter holding down 7.71 percentage points since Sep 2023.

16 deals · 24 Dec 2021 – 30 Jun 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
30 Jun 2026	JUPITER CAPITAL PRIVATE LIMITED	Bulk	BSE	Sell	10,00,000	₹1,667.76	₹166.78 Cr
11 Jun 2025	JUPITER CAPITAL PRIVATE LIMITED	Bulk	BSE	Sell	3,07,316	₹1,100.01	₹33.81 Cr
29 May 2025	HINDUSTHAN INFRASTRUCTURE	Bulk	NSE	Sell	2,67,416	₹1,043.85	₹27.91 Cr
29 May 2025	HINDUSTHAN INFRASTRUCTURE	Bulk	BSE	Buy	2,26,600	₹1,045.00	₹23.68 Cr
29 May 2025	HINDUSTHAN INFRASTRUCTURE	Block	BSE	Buy	2,26,600	₹1,045.00	₹23.68 Cr
29 May 2025	SUDHAKAR GANDE	Block	BSE	Sell	2,26,600	₹1,045.00	₹23.68 Cr
29 May 2025	SUDHAKAR GANDE	Bulk	BSE	Sell	2,26,600	₹1,045.00	₹23.68 Cr
20 May 2025	HINDUSTHAN INFRASTRUCTURE	Block	BSE	Buy	1,10,000	₹979.85	₹10.78 Cr
20 May 2025	SUDHAKAR GANDE	Block	BSE	Sell	1,10,000	₹979.85	₹10.78 Cr
6 Aug 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	2,17,151	₹534.61	₹11.61 Cr

1–10 of 16

1 / 2

Mr. Sampath RavinarayananExecutive Director-Chairperson-MD
Mrs. Mariam MathewNon-Executive - Independent Director
Mr. Tanmoy ChakrabartyNon-Executive - Independent Director
Mr. Codanda Poovaiah CariappaNon-Executive - Independent Director
Mr. Venkatraman VNon-Executive - Non Independent Director
Mr. Giridhar AramaneNon-Executive - Independent Director
Mr. Abhay MaheshwariNon - Executive Non -Independent Director
Mr. Abhay MaheshwariNon-Executive - Non Independent Director
Mr. Shashidhar SKChief Financial Officer
Mrs. Sonal DudaniCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 4 fund houses

Held by these funds

1.29%

of the company's equity

All mutual funds

1.45%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

8 schemes · 4 fund houses

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	2.46 L	41.05	0.74%	0.578%	+6,221
Technology Fund	ICICI Prudential Mutual Fund	1.64 L	27.47	0.2%	0.387%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	60,223	10.06	0.74%	0.142%	-322
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	46,536	7.78	0.31%	0.109%	-1,019
IB25-Groww Nifty India Defence ETF	Groww Mutual Fund	16,321	2.73	0.74%	0.038%	+419
Nifty India Defence Index Fund	Axis Mutual Fund	15,398	2.57	0.74%	0.036%	+1,310
IB18-Groww Nifty Total Market Index Fund	Groww Mutual Fund	318	0.05	0.01%	0.001%	+1
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	53	0.01	0.01%	0%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Aug 2026Transcript AI SummaryPPTREC
May 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results13 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

35 announcementsExport CSV

11 Sept 2026, 11:34 amCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

11 Sept 2026, 11:20 amCompany Update

Announcement under Regulation 30 (LODR)-Updates on Acquisition

Acquisition PDF

9 Sept 2026, 7:33 pmCompany Update

Dispatch Of Letter To Shareholders Whose E-Mail Addresses Are Not Registered With Company/Registrar & Transfer Agent/Depository Participants

General PDF

6 Sept 2026, 11:55 amCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

5 Sept 2026, 4:49 pmOthers

Business Responsibility and Sustainability Reporting (BRSR)

Business Responsibility and Sustainability Reporting (BRSR) PDF

5 Sept 2026, 4:43 pmAGM/EGM

Notice Of The Thirty-Sixth (36Th) Annual General Meeting ('AGM') Of The Company

AGM PDF

5 Sept 2026, 4:41 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

5 Sept 2026, 1:41 pmBoard Meeting

Board Meeting Outcome for Outcome Of Board Meeting

Outcome of Board Meeting PDF

Date	Category	Subject	Filing
11 Sept 2026, 11:34 am	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
11 Sept 2026, 11:20 am	Company Update Acquisition	Announcement under Regulation 30 (LODR)-Updates on Acquisition

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	84.4%	84.8%	81.2%	80.9%	78.2%	80.5%	79.3%	79.5%
EBITDA margin %	1.4%	13.6%	12.2%	11.6%	17.7%	13.7%	13.8%	15.3%
EBIT margin %	-1.9%	8.8%	7.3%	7.5%	14.5%	10.1%	10%	11.5%
PAT margin %	-1.3%	4.5%	-4.1%	3.7%	-0.6%	3.5%	7.3%	6.2%
Working capital
Receivable days	92	90	89	87	80	90	107	130
Inventory days	78	70	86	161	134	136	104	121
Payable days	137	177	188	218	153	125	100	220
NWC days	34	-17	-12	31	61	101	111	31
Leverage
Current ratio	1.03	0.99	1.07	0.99	1.51	1.9	2.22	1.53
Debt to EBITDA	15.4	1.33	1.14	0.69	2.16	1.83	1.33	1.56
Debt to equity	0.46	0.39	0.24	0.15	0.93	0.41	0.29	0.38
Interest coverage	0.1	2.4	2.3	3.5	3.5	1.9	3.8	5
Asset turnover	0.78	0.78	0.71	0.77	0.91	0.84	0.91	0.79
Return ratios
Return on assets %	-1%	3.5%	-2.9%	2.9%	-0.5%	2.9%	6.7%	4.9%
Return on capital employed %	0.3%	14.9%	12.3%	14.4%	27.6%	16.3%	15.2%	17.7%
Return on equity %	-2.7%	9.6%	-7.1%	6.8%	-1.4%	5.7%	11.6%	9.9%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Bharat Dynamics LimitedBDLBDL	₹39,882 Cr	₹39,882 Cr	₹2,766 Cr	₹352 Cr	9.2%	₹521 Cr	17.2%	7.5%	10.2%	598
Garden Reach Shipbuilders & Engineers LimitedGRSEGRSE	₹24,193 Cr	₹24,193 Cr	₹7,507 Cr	₹833 Cr	11.4%	₹801 Cr	10.7%	41%	31.8%	205
Data Patterns (India) LimitedDATAPATTNSDATAPATTNS	₹23,807 Cr	₹23,807 Cr	₹941 Cr	₹373 Cr	40.4%	₹268 Cr	29.3%	22.6%	16.7%	499
Sigma Advanced Systems LimitedSIGMAADVSIGMAADV	₹18,975 Cr	₹19,275 Cr	₹843 Cr	₹121 Cr	9.7%	₹163 Cr	54.5%	73.1%	87.6%	271
Aequs LimitedAEQUSAEQUS	₹18,448 Cr	₹18,851 Cr	₹1,230 Cr	₹89 Cr	7.2%	₹-113 Cr	-9.2%	1.1%	-10.3%	259
Astra Microwave Products LimitedASTRAMICROASTRAMICRO	₹15,417 Cr	₹15,704 Cr	₹1,140 Cr	₹326 Cr	28.7%	₹189 Cr	16.6%	23.1%	16%	537
Apollo Micro Systems LimitedAPOLLOAPOLLO	₹14,558 Cr	₹15,091 Cr	₹1,022 Cr	₹231 Cr	24.1%	₹122 Cr	11.9%	18.2%	11.8%	443
Zen Technologies LimitedZENTECZENTEC	₹14,232 Cr	₹14,236 Cr	₹671 Cr	₹221 Cr	36%	₹186 Cr	31.7%	16.3%	10.8%	425
Paras Defence And Space Technologies LimitedPARASPARAS	₹10,285 Cr	₹10,311 Cr	₹511 Cr	₹130 Cr	25.3%	₹94 Cr	18.8%	16.9%	12.9%	435
Axiscades Technologies LimitedAXISCADESAXISCADES	₹9,806 Cr	₹10,082 Cr	₹1,099 Cr	₹152 Cr	15.3%	₹36 Cr	6.2%	17.7%	10.4%	31
Unimech Aerospace And Manufacturing LimitedUNIMECHUNIMECH	₹9,025 Cr	₹9,137 Cr	₹285 Cr	₹95 Cr	31.2%	₹72 Cr	26.3%	12.8%	9%	137
Mishra Dhatu Nigam LimitedMIDHANIMIDHANI	₹8,121 Cr	₹8,405 Cr	₹1,278 Cr	₹240 Cr	19.7%	₹135 Cr	10.9%	9.1%	8.9%	1,022

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	21	-38	37	65	122	31	71	79	88	-1
	-10	-44	-13	-3	-22	30	-201	-163	9	-71
	1	47	-7	-48	-93	-42	133	64	-100	38
Net cash flow	11	-34	17	14	7	18	3	-20	-3	-34
Free cash flow	10	-38	37	65	116	18	60	59	50	-135
CFO / Operating profit %	—	-215.8%	434.8%	70.8%	190.8%	44.1%	48.5%	60.6%	62%	-0.8%

Axiscades Technologies Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

1

Announcements

Not in the F&O segment

1

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Engineering design services · revenue

Axiscades Technologies Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Board meetings1

Announcements

Ratio timeline

Not in the F&O segment

Board meetings1

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Engineering design services · revenue

1

1