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AXISCADES TECHNOLOGIES LIMITED — Earnings Release 2025
Nov 12, 2024
61656_rns_2024-11-12_20142075-f0dc-4669-bdec-f705fe4fd0a7.pdf
Earnings Release
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November 12, 2024
Listing Department National Stock Exchange of India Ltd. Exchange Plaza, C-1, Block G Bandra Kurla Complex, Bandra (E), Mumbai- 400051 NSE Symbol: AXISCADES
The Manager Dptt. of Corporate Services BSE Limited Floor 25 Phiroze Jeejeebhoy Towers Dalal Street, Fort, Mumbai – 400 051 BSE Scrip Code: 532395
Dear Sir/Madam,
Sub: Press Release – Results Q2 FY25
With reference to the captioned subject, please find enclosed the Press Release titled – AXISCADES Technologies Ltd. reports strong Q2 FY25 results led by growth in Aerospace and Defence verticals.
This is for your information and necessary records.
Yours faithfully,
For AXISCADES Technologies Limited
Sonal Digitally signed by Sonal Dudani Dudani Date: 2024.11.12 21:40:13 +05'30'
Sonal Dudani
Company Secretary & Compliance Officer
AXISCADES Technologies Limited
(formerly AXISCADES Engineering Technologies Limited) CIN No.: L72200KA1990PLC084435
Reg. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru -560024, Karnataka, INDIA Ph: +91 80 4193 9000 | Fax: +91 80 4193 9099 | Email: [email protected] | www.axiscades.com
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AXISCADES Technologies Ltd. reports strong Q2 FY25 results led by growth in Aerospace and Defence verticals
Bengaluru, India, Tuesday, 12 November 2024 : AXISCADES Technologies Ltd. (BSE: 532395 | NSE: AXISCADES), a leading end to end technology and engineering solutions provider, catering to Aerospace, Defence, Heavy Engineering, Automotive, Energy, and Semiconductor industries serving Global OEMs, today announced results for the quarter ended September 30, 2024.
Key Financial Highlights: Q2 FY25
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Revenue EBITDA PAT
₹ 264 crores ₹ 33 crores ₹ 12 crores
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Key Financial Highlights: H1 FY25
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Revenue EBITDA PAT
₹ 488 crores ₹ 64 crores ₹ 29 crores
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Consolidated Financial Highlights
| (all numbers in INR crores except % data) | (all numbers in INR crores except % data) | (all numbers in INR crores except % data) | (all numbers in INR crores except % data) | (all numbers in INR crores except % data) | (all numbers in INR crores except % data) | (all numbers in INR crores except % data) | (all numbers in INR crores except % data) | (all numbers in INR crores except % data) |
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| Particulars | Q2 FY24 | Q1 FY25 | Q2 FY25 | YoY | QoQ | H1 FY25 | H1 FY24 | YoY |
| Revenue from Operations |
251 | 223 | 264 | 5.1% | 18.4% | 488 | 465 | 4.8% |
| EBITDA | 36 | 31 | 33 | -8.6% | 5.4% | 64 | 69 | -7.3% |
| EBITDA Margin | 14.2% | 13.9% | 12.4% | 13.1% | 14.8% | |||
| Profit after Tax | 11 | 17 | 12 | 9.7% | -27.0% | 29 | 17 | 71.9% |
Business Highlights
Aerospace
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19% growth YoY driven by increase in wallet share with European OEM.
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Ramp up in new geography – notably North America and India.
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Increased areas of service - manufacturing support and final assembly lines.
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Plant shutdowns with OEM resulted in slowdown during Q2 resulting in flat QoQ.
Defence
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121 crores added to orderbook in Q2’25.
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Production revenues increased 84% QoQ indicating execution of design wins from the past and orderbook expansion.
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₹78Cr production revenues booked in H1’25.
Semiconductor
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36% growth QoQ driven by design revenues and return of traditional revenue lines from manufacturer.
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Significant use case development and testing with customers in the vertical
Energy
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100% YOY growth driven by EPCOGEN enabled accounts as well as organic growth in inhouse engagements.
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QoQ growth of 7% on a consol basis and 25% on organic accounts.
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Selected as the exclusive engineering partner on 2 new projects in UK with renewable energy solution provider (TCV - $3m).
Heavy Engineering
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Increased our engagement with global off highway OEM on both plant and vehicle manufacturing.
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Marginal QoQ growth 3% indicating turnaround in business engagement and alignment to customer strategy
Automotive
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QoQ and YoY decline due to macro challenges on global scale and with European OEMs due to sluggishness in EV space.
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Change in quality of engagement with UK OEM focused on cybersecurity and system testing.
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Pivoting from mechanical to digital and embedded solutions
Financial Highlights
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Revenue ₹264 crores; up 18.4% QoQ
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Total order book at $89 Mn up 17% QoQ
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EBITDA at ₹33 crores; up 74% QoQ on adjusted EBITDA
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EBITDA Margins at 12.4%; expanded 400bps QoQ on adjusted EBITDA
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PAT at ₹12 crores; up 20% QoQ on adjusted PAT
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Q2 Defence order intake ₹121 crores.
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Net Debt at ₹55 crores
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Cash, bank and liquid investments at ₹125 crores
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Commenting on the results and outlook, Mr. Arun Krishnamurthi, CEO & MD of AXISCADES said,
“For Q2 FY25, the company achieved resilient performance, with sales revenue of ₹264 crore, recording 18% sequential growth. This was complemented by an EBITDA of ₹33 crore and a PAT of ₹12 crore, reflecting strong operational efficiency, despite macroeconomic challenges in certain verticals. This performance underscores our ability to navigate a dynamic market environment, while delivering value to our stakeholders.
The revenue growth was driven both by Digital Engineering Services and Defence. In engineering services, Aerospace segment demonstrated a robust 19% YoY growth. Defence revenues grew by a healthy 73% QoQ, with Defence production revenues surging by 84% QoQ, bolstered by a significant order backlog set for execution in fiscal years 2025 & 2026. With a healthy pipeline and focused approach, over the next 12-18 months, we aim the defence revenue to reach around 60% of the overall company’s revenue.
However, automotive vertical continues to face macro challenges, which adversely impacted revenue and margins in the second quarter. With second largest outsourced ER&D spend in automotive, we are bullish on this vertical returning to growth in early FY26.
We remain committed and confident of addressing these challenges and will continue to focus on strengthening the business to achieve sustainable growth & profitability”.
About AXISCADES Technologies Ltd.
AXISCADES is a leading, end-to-end technology and engineering solutions provider aiding the creation of innovative, sustainable, and safer products worldwide. Headquartered in Bangalore with subsidiaries in the USA, UK, Canada, Germany, India, and China, and offices in Germany, France, Denmark, USA, and Canada. AXISCADES has a diverse team of over 3100 professionals working across 20 locations across North America, Europe, the UK, and Asia-Pacific, striving to reduce the program risk and time to market.
AXISCADES has long term relationships with Defence Forces, MoD, Defence Labs and PSUs along with global OEMs. We are Designated Offset partner to global OEMs on various Aerospace and Defence programs. AXISCADES possesses deep domain experience in Avionics, Electronic Warfare, C4I2, Radars, Drones, AntiDrone Systems, Test Solutions, GSE and GHE. We have executed several innovative in-house projects and partnered Solutions for Land, Naval, Aerospace and Homeland Security.
The comprehensive portfolio of solutions covers the complete product development lifecycle from concept evaluation to manufacturing support and certification for Fortune 500 Companies in the Aerospace, Defence, Heavy Engineering, Automotive, Medical Devices & Industrial Product industries.
More information: www.axiscades.com LinkedIn: https://www.linkedin.com/company/axiscades/
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For further Queries please contact:
Company: AXISCADES Technologies Ltd.
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Investor Relations: Orient Capital
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Mrs. Sangeeta Tripathi (Head - Investor Relations) email id: [email protected] / [email protected] Tel: +91 7021823011
Mr. Irfan Raeen / Mr. Sumeet Khaitan email id: [email protected] / [email protected] Tel: +91 9773778669/ +91 7021320701 www.orientcap.com
Mr. Akash Nejjur (DGM – Marketing & Communications) email id: [email protected] Tel: +91 80 41939000
Media / PR Pooja Chetri Tel: +91 9819763019 Email: [email protected]
Safe Harbor
Certain statements in this communication may be ‘forward-looking statements within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. Important developments that could affect the Company’s operations include changes in the industry structure, significant changes in the political and economic environment in India and overseas, tax laws, import duties, litigation, and labour relations. AXISCADES Technologies Ltd. (AXISCADES) will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
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