AXISCADES Technologies Limited's wholly owned subsidiary, AXISCADES Aerospace & Technologies Private Limited, has secured a domestic order worth ₹6.9 crore from the Office of DG (ACE), Ministry of Defence. The contract involves the manufacturing and supply of a Mobile Mast System, representing a significant development and production engagement for the company. The order covers the manufacturing, integration, qualification testing, documentation, and delivery of one Mobile Mast System, which, if successfully completed, would be deployed in prestigious Air Defence systems across the country.

AXISCADES emerged as the winner in a competitive tendering process conducted by the customer, reaffirming the company's engineering, manufacturing, and integration credentials in indigenous defence systems. The selection reflects AXISCADES' ability to integrate multi-disciplinary elements within a single, mission-ready platform, and reinforces the company's positioning as an indigenous engineering and manufacturing partner under the Atmanirbhar Bharat initiative.

Commenting on the order, Mr. D. Murali Krishnan, Chief Operating Officer, AXISCADES Technologies Limited, stated that the selection by DRDO's R&DE (Engineers) through a competitive process reinforces confidence in the company's ability to deliver complex indigenous defence systems that demand precision, reliability, and programme discipline. He added that the win is another step in the company's long-term strategy of building a stronger, India-led aerospace and defence manufacturing platform.

Key Details of the Order

The following table outlines the key parameters of the contract secured from the Office of DG (ACE), Ministry of Defence:

The disclosure was made to the exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the order does not fall within related party transactions and that the promoter group has no interest in the entity awarding the contract.

AXISCADES Technologies Limited has approved the transfer of its engineering services business in Heavy Engineering, Automotive, and Energy Industries to Akkodis entities for an aggregate consideration of USD 30.63 million. The Board of Directors approved the sale during its meeting held on May 26, 2026, as part of a strategic objective to divest these operations and realign capital resources. This transaction represents the first concrete step in AXISCADES' planned transition from a services-led organization to a focused aerospace manufacturing and products-led platform, consistent with the strategic guidance shared with shareholders over the past four quarters.

The Transferring Business contributed 24% of the company’s annual consolidated turnover for the financial year ended March 31, 2025, with a reported turnover of INR 2,493 million and a net worth of INR 530 million. The sales are structured as slump sales for the Indian entities and business transfers for the overseas subsidiaries, all conducted as going concerns. AXISCADES Inc., a material subsidiary, is transferring assets that constitute more than 20% of its total assets.

Transaction Structure and Consideration

The aggregate consideration of USD 30.63 million is payable in three tranches. An amount of USD 17.42 million is due at closing, subject to adjustments. A deferred consideration of USD 5.81 million is payable 12 months after closing, which is not contingent or conditional. Additionally, an earnout payment of USD 7.4 million is contingent on the EBITDA of the Transferring Business meeting specific thresholds by June 30, 2027.

Buyer Details and Approvals

The buyers are Akkodis India Private Limited, Akkodis UK Limited, and Akkodis Inc. The filing confirms that none of the buyers belong to the promoter or promoter group of AXISCADES Technologies Limited, and the transaction is not a related party transaction. The deal is outside a Scheme of Arrangement, and the company will seek shareholder approval under Regulation 37A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The transaction is expected to be completed within five months from the execution date, subject to the completion and waiver of conditions precedent. These include obtaining necessary statutory and regulatory approvals. The company stated that the divestment will allow it to focus on efficiency and strategic alignment, unlocking value for shareholders. Proceeds from the sale are intended for deployment towards technology-led acquisitions, manufacturing infrastructure, capacity scale-up, and strengthening the balance sheet.