AXISCADES TECHNOLOGIES LIMITED — Earnings Release 2021

Nov 9, 2021

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AXISCADES Delivers Strong Performance driven by broad-based growth Results Release

Q2 FY22 Highlights

• Revenue at INR 1,351 Mn; Strong Revenue growth Q-o-Q at 20.5%

• Revenue growth of 20% Q-o-Q in $ terms; $ 18 Mn

• Strong revenue addition in Heavy Engineering (HEG) Q-o-Q; highest growth in last 12 Quarters

• Aerospace revenue grew by 6% Q-o-Q, Continuous growth since last 3 Quarters

• 3 New customers added in Q2FY22, 1 each in Automotive, Energy and Heavy Engineering

• PAT at INR 28 Mn for the quarter; Growth of 108% Q-o-Q

Bengaluru, November 09, 2021

AXISCADES, a technology Company focusing on Product Engineering Solutions, serving Global OEMs announced its Second Quarter ended 30[th] September 2021 financial results.

Financial Highlights for quarter ended September 30[th] , 2021:

• Q2 FY22 Total Income at INR 1,388 Mn against INR 1,148 Mn in Q1 FY22

• EBITDA Margins: EBITDA Margin stands at 10.7% drop by 70 bps Q-o-Q due to salary hikes

• PAT at INR 28 Mn for the quarter; Growth of 108% Q-o-Q

• Net cash in the company stands at INR 207 Mn

• Order book of USD 43 Mn as on 30[th] September 2021

Mr. David Bradley, Chairman of AXISCADES commented : “The performance for Q2 has been very encouraging. During the quarter the Company delivered strong revenue growth of 20.5% Q-o-Q driven by growth across the sectors. HEG grew by 13.6%, Aerospace grew by 6% and AIP grew by 24% Q-oQ. Our two largest verticals HEG and Aerospace are witnessing upward trends in revenue since last 3 quarters. During the last 6 months we have expanded our offerings to existing clients and won several contracts in the Digital space and we will continue to invest in this space to strengthen the capabilities. We are hopeful of continuing the good growth next quarter also”.

Key Business Updates

• Added 3 new customers, 1 each in Automotive, Energy and Heavy Engineering vertical

• Securing new orders from existing clients across geos and exploring further opportunities

• Received new orders for Defence related works

• Won a deal with revenue potential of $3Mn in Manufacturing Digitization with existing client

• Our Product ‘WeCareEST’ launched recently is witnessing a good traction in the Indian Market

• Secured a large order for the supply of Anti-drone systems to Indian Defence in a partnership

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About AXISCADES Technologies

AXISCADES is leading technology solutions company focussing on global ER&D sector and strategic technology markets. The Group is at the cutting edge of R&D to address the futuristic needs of its clients in the evolving world of digital, innovation and technology. Building on its 1,800+ engineers worldwide and deep industry-specific expertise, AXISCADES enables organizations to materialize their business ambitions through a range of innovative services from strategy to operations. Headquartered in Bengaluru, AXISCADES has 14 delivery centres worldwide including North America, Europe and Asia.

Visit us at: www.axiscades.in

For further information, please contact:

Shishir Gahoi Gavin Desa / Rishab Barar AXISCADES Technologies Ltd. (formerly AXISCADES Engineering Technologies Ltd) CDR, India Kirloskar Business Park, Block ‘C’, 2nd Floor, Floor 3, Raj Mahal Bldg., V N Road Hebbal, Bangalore – 560 024, India Road, Churchgate, Mumbai 400 020 Tel: +91 80 4193 9000 Tel: +91 22 6645 1237 / 1235 Email : shishir.gahoi@axiscades.in Email: gavin@cdr-india.com Investor.relations@axiscades.in rishab@cdr-india.com

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