AXISCADES TECHNOLOGIES LIMITED

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November 12, 2025

The Manager Dptt. Of Corporate Services BSE Limited Phirozee Jeejeebhoy Tower, Dalal Street Mumbai 400 001 BSE Scrip Code: 532395

Listing Department The National Stock Exchange of India Limited Exchange Plaza, 5 Floor, Plot C/1, G Block Bandra – Kurla Complex, Bandra(E), Mumbai 400 051 NSE Symbol: AXISCADES

Dear Sir/Madam,

Sub: Outcome of the Board Meeting

Pursuant to provisions of Regulations 30 and 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we wish to inform that the Board of Directors of the Company in its meeting held today i.e., November 12, 2025 has inter-alia transacted the following:

Considered and approved unaudited Financial Results (Standalone & Consolidated) of the Company for the quarter and half-year ended September 30, 2025.
Took on record the Provisional Allotment Letter for land/plot at Telangana State Industrial Infrastructure Corporation (TSIIC) Hardware Park Phase II, situated in Rangareddy District, Telangana, measuring 32,862.00 Sq. Mts for setting up of Defense and Engineering Complex. The final allotment letter shall be subject to fullfillment of other terms and conditions.

We are enclosing copy of the said Unaudited Financial Results along with Limited Review Report of the Statutory Auditors, S.R. Batliboi & Associates, on the Standalone and Consolidated Financial Results of the Company for the quarter and half-year ended September 30, 2025, as required under Regulation 33 of the Listing Regulations.

The results will be uploaded on Stock Exchange website http://www.bseindia.com/ and http://www.nseindia.com/ and on the website of the Company https://axiscades.com/.

The relevant details pertaining to item no. 2, as required under Regulation 30 of the Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, are enclosed as Annexure-I .

(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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The meeting of Board of Directors commenced at 07:00 PM (IST) and concluded at 08:03 PM (IST).

Kindly take the above information on record.

Yours faithfully,

For AXISCADES Technologies Limited

Sonal Digitally signed by Sonal Dudani Dudani Date: 2025.11.12 20:39:15 +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

Annexure – I

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Sl. No	Particulars	Detail
1	Name(s) of parties with whom the agreement is being entered	Telangana State Industrial Infrastructure Corporation (TSIIC)
2	Purpose of entering into the agreement	Proposed acquisition of land for setting up of Defense and Engineering Complex
3	Shareholding, if any, in the entity with whom the agreement is executed	Nil
4	Significant terms of the agreement (in brief) special rights like right to appoint directors, first right to share subscription in case of issuance of shares, right to restrict any change in capital structure etc	Purchase of land/plot at TSIIC Hardware Park Phase II, situated in Rangareddy District, Telangana, measuring 32,862.00 Sq. Mts
5	whether, the said parties are related to promoter/promoter group/ group companies in any manner. If yes, nature of relationship	No
6	whether the transaction would fall within related party transactions? If yes, whether the same is done at “arm’s length	No
7	in case of issuance of shares to the parties, details of issue price, class of shares issued	No
8	any other disclosures related to such agreements, viz., details of nominee on the board of directors of the listed entity, potential conflict of interest arising out of such agreements, etc.	Not Applicable
9	in case of termination or amendment of agreement, listed entity shall disclose additional details to the stock exchange(s):	Not Applicable

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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a) name of parties to the agreement; b) nature of the agreement; c) date of execution of the agreement; d) details of amendment and impact thereof or reasons of termination and impact thereof.

For AXISCADES Technologies Limited

Sonal Digitally signed by Sonal Dudani Dudani Date: 2025.11.12 20:39:48 +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

12th Floor "UB City" Canberra Block No. 24, Vittal Mallya Road Bengaluru - 560 001, India Tel: +91 80 6648 9000

S.R. BATLIBOl&ASSOCIATES LLP Chartered Accountants

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors AXISCADES Technologies Limited

We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of AXISCADES Technologies Limited (the "Holding Company"), its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group") and its associate for the quarter ended September 30, 2025 and year to date from April 1, 2025 to September 30, 2025 (the "Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
The Holding Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Holding Company's Board of Directors . Our responsibility is to express a conclusion on the Statement based on our review.
We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review oflnterim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the Master Circular issued by the Securities and Exchange Board oflndia under Regulation 33(8) of the Listing Regulations, to the extent applicable.

The Statement includes the results of the following entities as stated in Note 9 of the Statement.
Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

S.R. Batliboi & Associates LLP, a Limited Liability Partnership with LLP Identity No. AAB-4295 Regd. Office: 22, Camac Street, Block 'B', 3rd Floor, Kolkata-700 016

S.R. BATLIBOI & ASSOCIATES LLP Chartered Accountants

The accompanying Statement includes the unaudited interim financial results and other financial information, in respect of:
Eleven subsidiaries, whose unaudited interim financial results include total assets of Rs. 39,239.00 lakhs as at September 30, 2025, total revenues ofRs. 6,537.08 lakhs and Rs. 11,109.76 lakhs, total net profit after tax of Rs. 151.95 lakhs and Rs. 392.93 lakhs, total comprehensive income of Rs. 151.95 lakhs and Rs. 392.93 lakhs, for the quarter ended September 30, 2025 and the period ended on that date respectively, and net cash outflows ofRs. 51.87 lakhs for the period from April 1, 2025 to September 30, 2025, as considered in the Statement which have been reviewed by their respective independent auditors.
One associate, whose unaudited interim financial results include Group's share of net loss of Rs. 0.45 lakhs and Rs. 0.53 lakhs and Group's share of total comprehensive loss of Rs. 0.45 lakhs and Rs. 0.53 lakhs for the quarter ended September 30, 2025 and for the period from April 1, 2025 to September 30, 2025 respectively, as considered in the Statement whose interim financial results, other financial information have been reviewed by their respective independent auditors.

The independent auditor's reports on interim financial results of these entities have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of these subsidiaries and associate is based solely on the report of such auditors and procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement in respect of matters stated above is not modified with respect to our reliance on the work done and the reports of the other auditors

S.R. Batliboi & Associates LLP Chartered Accountants ICAI Firm registration number: 101049W/E300004

Digitally signed by Pradip P d. A I Agarwal +0 5'30' ra Ip garwa Date:2025.11.1220:04:36

per Pradip Agarwal Partner Membership No.: 065537

UDIN:25065537BMLFXD5068

Place: Bengaluru Date: November 12, 2025

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AXISCADES Technologies Limited
CIN NO: L72200KA1990PLC084435
Regd. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru - 560024, Karnataka, India
Website: www.axiscades.com, Email: [email protected], Tel: +91 80 4193 9000, Fax: +91 80 4193 9099
Statement of unaudited consolidated financial results for the quarter and half year ended September 30, 2025
Quarter ended Half year ended Year ended
Particulars September 30, 2025 June 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024 March 31, 2025
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
I. Income
(a) Revenue from operations 29,905.89 24,370.57 26,471.64 54,276.46 48,822.30 1,03,072.37
(b) Other income (refer note 6) 594.45 1,059.47 431.48 1,653.92 1,458.73 2,084.90
Total income 30,500.34 25,430.04 26,903.12 55,930.38 50,281.03 1,05,157.27
II. Expenses
(a) Cost of raw material and components consumed 6,756.64 3,195.85 5,521.45 9,952.49 7,893.53 18,805.66
(b) Purchase of traded goods 363.78 624.68 (14.10) 988.46 443.43 1,718.10
(c) Decrease/ (increase) in inventories of finished goods, work-in-progress (10.73) (35.07) 779.76 (45.80) 1,153.89 816.86
and traded goods
(d) Employee benefits expense (refer note 7) 13,806.86 12,918.31 13,175.20 26,725.17 25,516.29 51,641.66
(e) Finance costs 655.35 731.71 856.91 1,387.06 1,663.70 3,229.70
(f) Depreciation and amortization expense 1,021.01 936.01 993.57 1,957.02 1,921.70 3,959.88
(g) Other expenses 4,280.80 4,260.63 3,680.49 8,541.43 7,356.63 15,845.60
Total expense 26,873.71 22,632.12 24,993.28 49,505.83 45,949.17 96,017.46
III. Profit before share in loss of an associate, exceptional items and 3,626.63 2,797.92 1,909.84 6,424.55 4,331.86 9,139.81
tax (I-II)
IV. Share in loss of an associate, net of tax (0.45) (0.08) (0.35) (0.53) (1.09) (2.37)
V. Profit before exceptional items and tax (III+IV) 3,626.18 2,797.84 1,909.49 6,424.02 4,330.77 9,137.44
VI. Exceptional items, net (refer note 5) - - (34.39) - (34.39) (385.87)
VII. Profit before tax (V+VI) 3,626.18 2,797.84 1,875.10 6,424.02 4,296.38 8,751.57
VIII. Income tax expense: (refer note 8)
- Current tax 984.66 630.27 676.79 1,614.93 1,609.30 2,352.07
- Adjustment of tax relating to earlier years 15.78 (129.52) - (113.74) - (127.44)
- Deferred tax charge/(credit) 312.95 211.09 (26.79) 524.04 (215.25) (1,001.46)
Total income tax expense 1,313.39 711.84 650.00 2,025.23 1,394.05 1,223.17
IX. Profit for the period/ year (VII-VIII) 2,312.79 2,086.00 1,225.10 4,398.79 2,902.33 7,528.40
X. Other comprehensive income
Other comprehensive income not to be reclassified to profit or
loss in subsequent periods:
Remeasurement losses on defined benefit plans (57.42) (33.48) (47.65) (90.90) (63.25) (222.64)
Income tax effect 14.45 8.43 13.13 22.88 17.34 56.34
Net other comprehensive income not to be reclassified to (42.97) (25.05) (34.52) (68.02) (45.91) (166.30)
profit or loss in subsequent periods
Other comprehensive income to be reclassified to profit or
loss in subsequent periods:
Losses on cash flow hedges (278.04) (473.10) (9.60) (751.14) (7.38) (203.75)
Income tax effect 69.98 119.07 2.67 189.05 2.05 51.28
Exchange differences on translation of foreign operations 183.74 142.52 49.05 326.26 26.72 (6.83)
Income tax effect - - - - - -
Net other comprehensive income to be reclassified to profit or (24.32) (211.51) 42.12 (235.83) 21.39 (159.30)
loss in subsequent periods
Total other comprehensive income/(loss) for the period/ year, net of (67.29) (236.56) 7.60 (303.85) (24.52) (325.60)
tax
XI. Total comprehensive income for the period/year, net of tax (IX+X) 2,245.50 1,849.44 1,232.70 4,094.94 2,877.81 7,202.80
Total profit/ (loss) attributable to
Owners of the Company 2,301.90 2,074.85 1,230.43 4,376.75 2,937.17 7,493.68
Non-controlling interests 10.89 11.15 (5.33) 22.04 (34.84) 34.72
Total other comprehensive income attributable to
Owners of the Company (66.90) (236.17) 7.60 (303.07) (24.52) (324.04)
Non-controlling interests (0.39) (0.39) - (0.78) - (1.56)
Total comprehensive income/ (loss) attributable to
Owners of the Company 2,235.00 1,838.68 1,238.03 4,073.68 2,912.65 7,169.64
Non-controlling interests 10.50 10.76 (5.33) 21.26 (34.84) 33.16
XII. Paid up equity share capital ( 5 each) 2,126.41 2,126.41 2,113.49 2,126.41 2,113.49 2,126.41
XIII. Other equity 62,779.30
5.42 4.88 2.93 10.30 7.00 17.76
5.36 4.85 2.86 10.21 6.67 17.22
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EPS is not annualized for interim periods.

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AXISCADES Technologies Limited CIN NO: L72200KA1990PLC084435

Regd. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru - 560024, Karnataka, India Website: www.axiscades.com, Email: [email protected], Tel: +91 80 4193 9000, Fax: +91 80 4193 9099

Statement of unaudited consolidated financial results for the quarter and half year ended September 30, 2025

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Notes
1. In terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, the aforesaid Statement of unaudited consolidated financial results for the quarter and half year ended
September 30, 2025 of AXISCADES Technologies Limited (the or the its subsidiaries (the Holding Company and its subsidiaries together hereinafter referred to as and its
associate has been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on November 12, 2025. The aforesaid unaudited consolidated financial results for the quarter and half
year ended September 30, 2025 have been reviewed by statutory auditors of the Company.
2. The unaudited consolidated financial results have been prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards as prescribed
under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,
as amended from time to time.
3. The financial results of the Company on standalone basis is as follows:
Quarter ended Half year ended Year ended
Particulars September 30, 2025 June 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024 March 31, 2025
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
Total revenue (including other income) 10,804.47 10,896.59 9,889.94 21,701.06 20,523.37 41,210.99
Profit before tax 205.35 725.32 356.47 930.67 2,286.44 3,117.52
Profit after tax 34.57 655.83 253.64 690.40 1,778.77 4,059.41
Total comprehensive income/(loss) (198.18) 278.37 215.93 80.19 1,734.76 3,813.24
4. The segment reporting of the Group has been prepared in accordance with Ind AS 108 on 'Operating Segments'. The business segments of the Group comprises of (a) "Technology Services and Solutions" and (b)
"Defence".
Segment wise revenue, results, assets and liabilities
Quarter ended Half year ended Year ended
Particulars September 30, 2025 June 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024 March 31, 2025
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
Segment revenue
(a) Technology Services and Solutions 18,542.02 18,464.25 18,119.71 37,006.27 35,629.92 72,781.84
(b) Defence 11,363.87 5,906.32 8,351.93 17,270.19 13,192.38 30,290.53
Total 29,905.89 24,370.57 26,471.64 54,276.46 48,822.30 1,03,072.37
Less: Inter segment revenue - - - - - -
Net sales/income from operations 29,905.89 24,370.57 26,471.64 54,276.46 48,822.30 1,03,072.37
Cost of raw material and components consumed
(a) Technology Services and Solutions 624.88 650.83 813.19 1,275.71 1,458.99 3,160.11
(b) Defence 6,484.81 3,134.63 5,473.92 9,619.44 8,031.86 18,180.51
Employee benefits expense (refer note 7)
(a) Technology Services and Solutions 12,333.09 11,775.87 11,770.10 24,108.96 22,939.91 46,386.00
(b) Defence 1,473.77 1,142.44 1,405.10 2,616.21 2,576.38 5,255.66
Depreciation and amortisation
(a) Technology Services and Solutions 779.09 625.45 657.34 1,404.54 1,251.65 2,615.61
(b) Defence 24.32 10.75 2.21 35.07 45.74 78.99
Segment results
Profit before tax, interest and other income from each segment
(a) Technology Services and Solutions 1,273.81 1,729.31 1,663.78 3,003.12 3,593.22 7,210.17
(b) Defence 2,631.35 1,040.66 984.72 3,672.01 1,567.91 4,340.52
Total 3,905.16 2,769.97 2,648.50 6,675.13 5,161.13 11,550.69
Less:i) Finance costs (655.35) (731.71) (856.91) (1,387.06) (1,663.70) (3,229.70)
ii) Share in net loss of an associate (0.45) (0.08) (0.35) (0.53) (1.09) (2.37)
iii) Exceptional items (refer note 5) - - (34.39) - (34.39) (385.87)
iv) Other unallocable expenditure (217.63) (299.81) (313.23) (517.44) (624.30) (1,266.08)
Add: i) Other income (refer note 6) 594.45 1,059.47 431.48 1,653.92 1,458.73 2,084.90
Total profit before tax 3,626.18 2,797.84 1,875.10 6,424.02 4,296.38 8,751.57
Quarter ended Half year ended Year ended
September 30, 2025 June 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024 March 31, 2025
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
Segment assets
(a) Technology Services and Solutions 52,889.62 51,164.31 53,245.88 52,889.62 53,245.88 51,663.30
(b) Defence 47,150.89 41,552.73 38,402.51 47,150.89 38,402.51 38,217.89
(c) Unallocable assets 21,949.91 21,634.27 19,879.08 21,949.91 19,879.08 22,830.09
Total 1,21,990.42 1,14,351.31 1,11,527.47 1,21,990.42 1,11,527.47 1,12,711.28
Segment liabilities
(a) Technology Services and Solutions 22,930.89 20,842.84 23,891.59 22,930.89 23,891.59 22,190.20
(b) Defence 23,082.18 22,051.78 23,251.91 23,082.18 23,251.91 21,240.79
(c) Unallocable liabilities 6,003.47 3,878.31 2,997.54 6,003.47 2,997.54 3,701.35
Total 52,016.54 46,772.93 50,141.04 52,016.54 50,141.04 47,132.34
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AXISCADES Technologies Limited CIN NO: L72200KA1990PLC084435

Statement of unaudited consolidated financial results for the quarter and half year ended September 30, 2025

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5. Exceptional items comprises of the following:
Quarter ended Half year ended Year ended
Particulars September 30, 2025 June 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024 March 31, 2025
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
Impairment loss on goodwill [refer note (i) below] - - (476.19) - (476.19) (951.19)
Fair value change in contingent purchase consideration payable [refer - - 441.80 - 441.80 717.52
note (i) below]
Additional purchase consideration paid [refer note (ii) below] - - - - - (152.20)
Total - - (34.39) - (34.39) (385.87)
i) During the half year ended September 30, 2024 and year ended March 31, 2025, the Group carried out an impairment assessment based on the impairment indicators and determined that the recoverable value of
the goodwill was lower than their carrying values. Accordingly, the Group recognised an impairment loss on goodwill amounting to 476.19 lakhs and 951.19 lakhs for the half year ended September 30, 2024 and
year ended March 31, 2025, respectively. The Group also recognised a fair value gain of 441.80 lakhs and 717.52 lakhs for the half year ended September 30, 2024 and year ended March 31, 2025, respectively on
re-estimation of the contingent purchase consideration payable as per the terms of the Share Purchase Agreement ('SPA') for Add Solution GmbH, step-down subsidiary of the Company.
7. Due to non-fulfilment of certain vesting conditions, the Group had reversed the share based payments to employees of 1,238.92 lakhs and 1,504.82 lakhs for the half year ended September 30, 2024 and year
ended March 31, 2025, respectively through the Statement of Profit and Loss.
8. Pursuant to the final assessment order for AY 2023-24 received on March 23, 2025 thereby concluding the assessment of income for the aforesaid assessment year, the Company had set-off unutilsed business
losses of AY 2023-24 against taxable profits of the year ended March 31, 2025 and unutilised unabsorbed depreciation of AY 2023-24 against capital gains on sale of Asset held for sale during the year ended March 31,
2025. Further based on the projections for future taxable profits, the Company had recognized deferred tax assets (net) of 855.44 lakhs on remaining unutilized losses as at March 31, 2025. Consequent to the
During the year ended March 31, 2025, the Company had exercised the option of availing the lower tax rate available under Section 115BAA of Income Tax Act, 1961, thereby lowering the tax rate from 28.72 % to
25.168% . Accordingly, the Company had provided for income taxes for the year ended March 31, 2025 and re-measured the accumulated balance of deferred tax assets as at March 31, 2025, based on the rate
prescribed under the aforesaid section. The resultant impact had been taken through the statement of profit and loss. The re-measurement of accumulated deferred tax assets had resulted in a one-time additional
9. These quarterly consolidated financial results includes the results of the following entities:
a. AXISCADES Technologies Limited
b. AXISCADES Inc.
c. Cades Studec Technologies (India) Private Limited
d. AXISCADES Aerospace & Technologies Private Limited
e. Enertec Controls Limited
f. AXISCADES Aerospace & Infrastructure Private Limited
g. AXISCADES UK Limited
h. AXISCADES Technology Canada Inc. .
i. Axis Mechanical Engineering Design (Wuxi) Co., Ltd.,
j. AXISCADES GmbH
k. Mistral Solutions Private Limited
l. Mistral Solutions Inc.
m. Mistral Technologies Private Limited
n. Explosoft Tech Solutions Private Limited
o. Add Solution GmbH
p. Epcogen Private Limited
q. Aero Electronics Private Limited
10. The above unaudited consolidated financial results of the Group are available on the Company's website (www.axiscades.com) and also on the website of BSE (www.bseindia.com) and NSE (www.nseindia.com),
where the shares of the Company are listed.
For AXISCADES Technologies Limited
Place: Bengaluru Dr. Sampath Ravinarayanan
Date: November 12, 2025 Founder Chairman and Managing Director
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AXISCADES Technologies Limited
CIN NO: L72200KA1990PLC084435
Regd. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru - 560024, Karnataka, India
Website: www.axiscades.com, Email: [email protected], Tel: +91 80 4193 9000, Fax: +91 80 4193 9099
Unaudited consolidated statement of cash flows for the half year ended September 30, 2025
Half year ended
September 30, 2025 September 30, 2024
Unaudited Unaudited
A. Operating activities
Profit before tax 6,424.02 4,296.38
Adjustments to reconcile profit before tax to net cash flows:
Exceptional items, net (refer note 5) - 34.39
Depreciation and amortization expense 1,957.02 1,921.70
Interest income (including fair value change in financial instruments) (260.66) (510.98)
Net gain on financial asset measured at fair value through profit and loss (167.19) (145.37)
Dividend income from mutual funds (30.85) (4.68)
Finance costs 1,387.06 1,663.70
Provision/liabilities no longer required written back (507.83) (15.58)
Share of loss of an associate 0.53 1.09
Provision for bad and doubtful debts and unbilled revenue 204.44 21.66
Provision for foreseeable loss on contracts 80.08 28.19
Share based payment expense (refer note 7) 300.00 (1,169.56)
Loss/ (gain) on sale of property, plant and equipment, net 9.13 (642.19)
Net unrealised foreign exchange (gain)/ loss (506.95) 134.92
Operating profit before working capital changes 8,888.80 5,613.67
(Increase) in trade receivables (3,965.00) (1,841.14)
(Increase) in inventories (411.41) (388.46)
(Increase)/ decrease in other assets including financial assets (5,470.47) 559.82
Increase in trade payables, other liabilities and financial liabilities 3,789.16 653.49
(Decrease)/ increase in provisions (24.29) 331.72
Cash generated from operating activities 2,806.79 4,929.10
Direct taxes paid, net (1,445.76) (1,637.92)
Net cash flows from operating activities (A) 1,361.03 3,291.18
B. Investing activities
Payments for purchase of property, plant and equipment, capital work-in-progress, intangible (2,606.96) (456.60)
assets under development and intangible assets
Proceeds from sale of property, plant and equipment 71.52 1,075.60
Interest received 317.20 606.97
Payment of deferred purchase consideration (104.50) (71.23)
Purchase of units of mutual funds (5,460.00) (6,030.00)
Redemption of mutual fund units 8,549.90 5,422.87
Redemption of in fixed deposits, net 1,602.17 2,368.83
Invesment in an associate (287.19) -
Net cash flows from investment activities (B) 2,082.14 2,916.44
C. Financing activities
Repayment of principal portion and interest portion of lease liabilities (1,324.03) (1,125.62)
Proceeds from long-term borrowings 97.15 -
Repayment of long-term borrowings (470.69) (5,565.46)
Repayment of short term borrowings, net (2,408.50) (629.24)
Proceeds from exercise of share options - 166.32
Interest paid (1,087.38) (1,107.10)
Net cash flows used in financing activities (C) (5,193.45) (8,261.10)
Net decrease in cash and cash equivalent (A+B+C) (1,750.28) (2,053.48)
Effect of exchange rate changes, net 90.70 (7.71)
Cash and cash equivalent at the beginning of the period 5,235.06 5,560.98
Cash and cash equivalent at the end of the period 3,575.48 3,499.79
For AXISCADES Technologies Limited
Place: Bengaluru Dr. Sampath Ravinarayanan
Date: November 12, 2025 Founder Chairman and Managing Director
----- End of picture text -----

Page 5 of 5

12th Floor "UB City" Canberra Block No. 24, Vittal Mallya Road Bengaluru - 560 001, India

Chartered Accountants

Tel: +91 80 6648 9000

S.R. BATLIBOl&ASSOCIATES LLP

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors AXISCADES Technologies Limited

We have reviewed the accompanying statement of unaudited standalone financial results of AXISCADES Technologies Limited (the "Company") for the quarter ended September 30, 2025 and year to date from April 1, 2025 to September 30, 2025 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
The Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review.
We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Based on our review conducted as above , nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For S.R. BATLIBOI & ASSOCIATES LLP

Chartered Accountants

ICAI Firm registration number: 101049W/E300004

Pradip Agarwal Digitally signed by Pradip Date: 2025.11.12 20:05:20 Agarwal +05'30'

per Pradip Agarwal Partner Membership No.: 065537

UDIN: 25065537BMLFXC1342

Place: Bengaluru Date: November 12, 2025

S.R. Batliboi & Associates LLP, a Limited Liability Partnership with LLP Identity No. AAB-4295 Regd. Office: 22, Camac Street, Block 'B', 3rd Floor, Kolkata-700 016

AXISCADES Technologies Limited CIN NO: L72200KA1990PLC084435 Regd. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru - 560024, Karnataka, India Website: www.axiscades.com, Email: [email protected], Tel: +91 80 4193 9000, Fax: +91 80 4193 9099

			Unaudited standalone balance sheet as at September	Unaudited standalone balance sheet as at September	30, 2025
						As at
Sl	No			Particulars	September	30, 2025	March 31, 2025
					(Unaudited)		(Audited)
		Assets
	A	Non-current assets
		Property, plant and equipment				1,723.88	1,887.94
		Intangible assets				480.32	286.00
		Right-of-use assets				1,151.45	1,681.54
		Financial assets
		Investments				41,617.70	41,617.70
		Loans				50.00	208.00
		Other financial assets				967.68	933.03
		Deferred tax assets, net				1,763.80	1,792.28
		Non-current tax asset, net				1,597.83	1,067.40
		Other non-current assets				44.06	53.33
		Total non-current assets				49,396.72	49,527.22
	B	Current assets
		Financial assets
		Loans				234.00	75.00
		Trade receivables				9,002.45	7,718.21
		Cash and cash equivalent				330.79	1,120.08
		Bank balances other than	cash and cash equivalent			1,164.42	2,874.77
		Other financial assets				5,231.16	4,987.46
		Other current assets				3,667.04	2,630.59
		Total current assets				19,629.86	19,406.11

		Total assets (A+B)				69,026.58	68,933.33
		Equity and liabilities
	C	Equity
		Equity share capital				2,126.41	2,126.41
		Other equity				37,498.59	37,118.38
		Total equity				39,625.00	39,244.79
	D	Non-current liabilities
		Financial liabilities
		Borrowings				10,271.47	14,920.57
		Lease liabilities				599.94	880.21
		Other financial liabilities				370.35	1,035.60
		Provisions				1,100.35	1,003.56
		Total non-current liabilities				12,342.11	17,839.94
	E	Current liabilities
		Financial liabilities
		Borrowings				9,678.36	5,511.54
		Lease liabilities				776.63	1,028.44
		Trade payables
		(a) Total outstanding dues of micro enterprises and small enterprises				99.96	121.79
		(b) Total outstanding dues of creditors other than micro enterprises				2,274.41	2,317.90
		and small enterprises
		Other financial liabilities				2,748.03	1,024.42
		Provisions				779.02	732.54
		Current tax liability, net				88.22	88.06
		Other current liabilities				614.84	1,023.91
		Total current liabilities				17,059.47	11,848.60

	F	Total liabilities (D+E)				29,401.58	29,688.54

		Total equity and liabilities (C+F)				69,026.58	68,933.33

For AXISCADES Technologies Limited

==> picture [113 x 41] intentionally omitted <==

Place: Bengaluru Date: November 12, 2025

Dr. Sampath Ravinarayanan Founder Chairman and Managing Director

Page 1 of 4

AXISCADES Technologies Limited

CIN NO: L72200KA1990PLC084435

Regd. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru - 560024, Karnataka, India

Website: www.axiscades.com, Email: [email protected], Tel: +91 80 4193 9000, Fax: +91 80 4193 9099

ue from operations
income (refer note 4)
me
es
se of traded goods
yee benefits expense (refer note 5)
e costs
ciation and amortisation expense
expenses
ense
before exceptional item and tax (I-II)
ional item (refer note 6)
efore tax (III+IV)
e tax expense: (refer note 7)
rrent tax
justment of tax relating to earlier years
ferred tax charge/(credit)
income tax expense
for the period/ year (V -VI)
r comprehensive income
er comprehensive income not to be reclassified to profit or loss in
sequent periods:
Re-measurement losses on defined benefit plans
Income tax effect
other comprehensive income not to be reclassified to profit or
in subsequent periods
er comprehensive income to be reclassified to profit or loss in
sequent periods:
Losses on cash flow hedges
Income tax effect
other comprehensive income to be reclassified to profit or loss in
sequent periods
er comprehensive income for the period/ year, net of tax
omprehensive income/ (loss) for the period/ year (VII+VIII)
equity
Particulars
Statement of unaudited s

Year ended
September 30, 2025
June 30, 2025
September 30, 2024
September 30, 2025
September 30, 2024
March 31, 2025
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)
(Audited)
10,507.36
10,393.68
9,657.28
20,901.04
19,411.99
39,798.05
297.11
502.91
232.66
800.02
1,111.38
1,412.94
10,804.47
10,896.59
9,889.94
21,701.06
20,523.37
41,210.99
-
-
-
-
-
72.00
6,888.74
6,590.37
6,086.19
13,479.11
11,352.79
23,777.19
599.37
681.10
855.42
1,280.47
1,654.84
3,080.46
429.75
411.93
442.47
841.68
823.64
1,760.20
2,681.26
2,487.87
2,149.39
5,169.13
4,405.66
9,251.33
10,599.12
10,171.27
9,533.47
20,770.39
18,236.93
37,941.18
205.35
725.32
356.47
930.67
2,286.44
3,269.81
-
-
-
-
-
(152.29)
205.35
725.32
356.47
930.67
2,286.44
3,117.52
96.46
29.89
85.71
126.35
661.47
85.71
-
(119.79)
-
(119.79)
-
(123.74)
74.32
159.39
17.12
233.71
(153.80)
(903.86)
170.78
69.49
102.83
240.27
507.67
(941.89)
34.57
655.83
253.64
690.40
1,778.77
4,059.41
(32.99)
(31.31)
(42.65)
(64.30)
(53.59)
(125.22)
8.30
7.88
11.87
16.18
14.91
31.52
(24.69)
(23.43)
(30.78)
(48.12)
(38.68)
(93.70)
(278.04)
(473.10)
(9.60)
(751.14)
(7.38)
(203.75)
69.98
119.07
2.67
189.05
2.05
51.28
(208.06)
(354.03)
(6.93)
(562.09)
(5.33)
(152.47)
(232.75)
(377.46)
(37.71)
(610.21)
(44.01)
(246.17)
(198.18)
278.37
215.93
80.19
1,734.76
3,813.24
2,126.41
2,126.41
2,113.49
2,126.41
2,113.49
2,126.41
37,118.38
0.08
1.54
0.60
1.62
4.24
9.62
0.08
1.53
0.59
1.61
4.04
9.33
tandalone financial results for the quarter and half year ended September 30, 2025
Quarter ended
Half year ended

EPS is not annualised for interim periods.

Notes:

In terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, the aforesaid Statement of unaudited standalone financial results for the quarter and half year ended September 30, 2025 of the AXISCADES Technologies Limited (hereinafter referred to as the "Company") has been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on November 12, 2025. The aforesaid unaudited standalone financial results for the quarter and half year ended September 30, 2025 have been reviewed by statutory auditors of the Company.
The financial results have been prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards as prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time.
The Company is engaged in the business of "Technology Services and Solutions". These, in the context of Ind AS 108 on Operating Segments Reporting are considered to constitute one segment and hence the Company has not made any additional segment disclosures.
Due to non-fulfilment of certain vesting conditions, the Group had reversed the share based payments to employees of 1,082.55 lakhs and 1,316.27 lakhs for the half year ended September 30, 2024 and year ended March 31, 2025, respectively through the Statement of Profit and Loss.

==> picture [125 x 34] intentionally omitted <==

Page 2 of 4

AXISCADES Technologies Limited CIN NO: L72200KA1990PLC084435

Statement of unaudited standalone financial results for the quarter and half year ended September 30, 2025

Pursuant to the final assessment order for AY 2023-24 received on March 23, 2025 thereby concluding the assessment of income for the aforesaid assessment year, the Company had set-off unutilsed business losses of AY 2023-24 against the taxable profits of year ended March 31, 2025 and unutilised unabsorbed depreciation of AY 2023-24 against the capital gains on sale of Asset held for sale during the year ended

During the year ended March 31, 2025, the Company had exercised the option of availing the lower tax rate available under Section 115BAA of Income Tax Act, 1961, thereby lowering the tax rate from 28.72 % to 25.168%. Accordingly, the Company had provided for income taxes for the year ended March 31, 2025 and re-measured the accumulated balance of deferred tax assets as at March 31, 2025, based on the rate prescribed under the aforesaid section. The resultant impact had been taken through the statement of profit and loss. The re-measurement of accumulated deferred tax assets had resulted in a one-time additional

The above unaudited standalone financial results of the Company are available on the Company's website (www.axiscades.com) and also on the website of BSE (www.bseindia.com) and NSE (www.nseindia.com), where the shares of the Company are listed.

For AXISCADES Technologies Limited

==> picture [165 x 44] intentionally omitted <==

Place: Bengaluru Date: November 12, 2025

Dr. Sampath Ravinarayanan Founder Chairman and Managing Director

Page 3 of 4

AXISCADES Technologies Limited CIN NO: L72200KA1990PLC084435

Unaudited standalone statement of cash flows for the half	year ended September 30, 2025
	Half year	ended
	September 30, 2025	September	30, 2024
	(Unaudited)	(Unaudited)
A. Operating activities
Profit before tax	930.67		2,286.44
Adjustments to reconcile profit before tax to net cash flows:
Depreciation and amortization expense	841.68		823.64
Interest income	(157.89)		(425.99)
Gain on sale of units of mutual funds	(0.54)		(8.17)
Finance costs	1,280.47		1,654.84
Provision for bad and doubtful debts and unbilled revenue	81.07		-
Provision/liabilities no longer required, written back	(371.47)		-
Share based payment expense (refer note 5)	300.00		(1,013.20)
Gain on sale of property, plant and equipment, net	-		(659.27)
Net unrealised foreign exchange loss	(63.31)		166.89
Operating profit before working capital changes	2,840.68		2,825.18
Movements in working capital
(Increase)/decrease in trade receivables	(1,234.65)		772.49
(Increase) in other assets including financial assets	(1,287.79)		(499.24)
(Decrease)/ increase in trade payables, other liabilities and financial liabilities	(107.91)		1,452.75
Increase in provisions	40.63		22.12
Cash generated from operating activities	250.96		4,573.30
Direct taxes paid, net	(536.83)		(566.44)
Net cash flows (used in)/ from operating activities (A)	(285.87)		4,006.86
B. Investing activities
Purchase of property, plant and equipment and intangible assets	(297.78)		(353.64)
Proceeds from sale of assets held for sale	-		1,034.05
Payment of deferred purchase consideration	-		(71.23)
Purchase of units of mutual funds	(800.00)		(2,979.97)
Proceeds from sale of mutual fund units	800.54		2,988.14
Loan to subsidiaries	(1.00)		(151.00)
Repayment of loans by subsidiaries	-		100.00
Interest received	140.16		426.70
Redemption of fixed deposits, net	1,693.00		2,496.65
Net cash flows from investing activities (B)	1,534.92		3,489.70
C. Financing activities
Repayment of principal and interest portion of lease liabilities	(620.20)		(594.10)
Repayment of long-term borrowings	(353.43)		(5,820.66)
Repayments of short term borrowings, net	(188.09)		(730.61)
Proceeds from exercise of share options	-		166.32
Interest paid	(852.08)		(943.54)
Net cash flows used in financing activities (C)	(2,013.80)		(7,922.59)
Net decrease in cash and cash equivalent (A+B+C)	(764.75)		(426.03)
Effect of exchange rate changes, net	(24.54)		(22.79)
Cash and cash equivalent at the beginning of the period	1,120.08		1,693.53
Cash and cash equivalent at the end of the period	330.79		1,244.71

For AXISCADES Technologies Limited

==> picture [158 x 36] intentionally omitted <==

Dr. Sampath Ravinarayanan Founder Chairman and Managing Director

Place: Bengaluru Date: November 12, 2025

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