AXISCADES FY26 revenue rises 12.4% to ₹1,159 crore
AXISCADES Technologies Limited reported a 12.4% year-on-year increase in revenue to ₹1,159 crore for FY26, with EBITDA growing 24.6% to ₹178 crore and margins expanding 150 basis points to 15.3%. Reported PAT declined 4.3% to ₹72 crore due to a ₹142 crore Q4 revenue deferment and exceptional items from restructuring, while normalized PAT rose 27.6% to ₹83 crore. The company signed an agreement to divest its heavy engineering, energy, and automotive divisions to Akkodis for USD 30.63 million, expected to close in Q2 FY27, and targets FY27 revenue of ₹1,377 crore.
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AXISCADES Technologies Limited reported a 12.4% year-on-year increase in revenue to ₹1,159 crore for FY26, with EBITDA growing 24.6% to ₹178 crore. The EBITDA margin expanded 150 basis points to 15.3%. However, reported PAT declined 4.3% to ₹72 crore, impacted by a Q4 revenue deferment of ₹142 crore and exceptional items linked to portfolio restructuring. The company remains focused on its Power 930 roadmap, targeting ₹9,000 crore revenue by FY2030.
Financial Performance and Q4 Impact
The normalized PAT for FY26 stood at ₹83 crore, a 27.6% increase compared to the normalized FY25 PAT of ₹65 crore. The divergence between operating progress and reported PAT was primarily driven by three factors: a material Q4 revenue recognition deferment, one-time transaction costs, and a non-comparable tax base. In Q4 specifically, reported revenue was ₹273 crore, with EBITDA at ₹34 crore and PAT at ₹0.4 crore.
Revenue Deferment Details
The ₹142 crore revenue deferment in Q4 comprised three components: a ₹45 crore deferment in a defense manufacturing program due to supply chain disruption, an ₹84 crore deferment in a strategic electronics program due to a monopolistic hardware supplier redirecting output, and a ₹12.6 crore deferment in an aerospace and defense contract linked to the Akkodis divestment transaction. Management stated that the underlying contract values remain intact and the revenue has moved into FY27 visibility.
Strategic Divestment and Restructuring
On May 26, 2026, AXISCADES signed definitive agreements to divest its heavy engineering, energy, and automotive engineering service practice to Akkodis for USD 30.63 million in cash pre-tax. The transaction, expected to close in Q2 FY27, incurred transaction restructuring costs of ₹9.8 crore and a fair value adjustment of ₹7.98 crore, recognized under exceptional items. Upon closure, the divestment is expected to result in an extraordinary gain of approximately ₹175 crore, translating to ₹41 per share EPS.
FY27 Outlook and Visibility
For FY27, the consolidated revenue is trending towards ₹1,377 crore, representing a 52% growth on the retained business base of ₹903 crore in FY26. The core domains of aerospace, defense, and ESAI generated approximately ₹904 crore in FY26 revenue, representing around 78% of consolidated revenue. Management emphasized that the portfolio is cleaner and the cost base is being reset, with a focus on aerospace, defense, space, and deep tech AI platforms.
| Metric | FY26 Value | YoY Growth |
|---|---|---|
| Revenue | ₹1,159 crore | 12.4% |
| EBITDA | ₹178 crore | 24.6% |
| EBITDA Margin | 15.3% | 150 bps expansion |
| Normalized PAT | ₹83 crore | 27.6% |
| Reported PAT | ₹72 crore | (4.3%) |
Historical Stock Returns for Axiscades Engineering Technologies
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.89% | -2.50% | -1.99% | +20.02% | +15.73% | +1,921.83% |
How will the company mitigate supply chain risks to prevent further revenue deferments in critical defense programs?
What is the expected timeline for recognizing the deferred ₹142 crore revenue in FY27?
How will the divestment of heavy engineering and automotive practices impact the company's long-term diversification strategy?
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