{"success":true,"data":{"pressRelease":{"id":"119197","rtpr_id":"nPrelkNyka","ticker":"AXIT","exchange":"NSE India","all_tickers":["AXIT"],"title":"AXISCADES reports record Rs. 346.7 crore revenue from operations for Q1 FY27, including discontinued operations, up 42.2% YoY","author":"PR Newswire","published_at":"2026-08-14T10:53:45.317Z","article_body":"AXISCADES reports record Rs. 346.7 crore revenue from operations for Q1 FY27,\nincluding discontinued operations, up 42.2% YoY\nPR Newswire\n\nBENGALURU, India, Aug. 14, 2026\n\nDefence and XiDA drive retained portfolio growth\n\nBENGALURU, India, Aug. 14, 2026 /PRNewswire/ -- AXISCADES Technologies\nLimited (BSE: 532395) (NSE: AXISCADES), a technology, engineering and\nmanufacturing company focused on Aerospace, Defence, Space and\nXiDA/electronics and AI, today announced its consolidated results for the\nquarter ended 30 June 2026.\n\nQ1 FY27 consolidated revenue from operations, comprising continuing and\ndiscontinued operations, stood at a quarterly record of Rs. 346.7 crore,\nincreasing by 42.2% year on year and 27.0% sequentially.\n\nDuring May and June 2026, the Company announced the divestment of its\nEngineering Services and Aerospace Services businesses, respectively, to the\nAkkodis Group. The divestment programme represents a minimum consideration of\nRs. 1,685 crore and total consideration of approximately Rs. 2,256\ncrore—approximately USD 237 million. The transactions are progressing\nthrough the applicable closing conditions.\n\nThe Company presents continuing and discontinued operations separately, in\nline with the prescribed accounting standards. In accordance with Ind AS 105,\nthe comparative periods have been restated on the same basis.\n\nRevenue from operations from continuing operations was Rs. 183.4 crore. On a\nlike-for-like basis excluding Add Solutions, which management intends to exit\nin FY27, revenue was approximately Rs. 181 crore, an increase of ~100% from\napproximately Rs. 90 crore in Q1 FY26.\n\nReported EBITDA was Rs. 27.9 crore, with an EBITDA margin of 8.1%, compared\nwith Rs. 34.1 crore and 14.0%, respectively, in Q1 FY26. The Company reported\na loss before tax of Rs. 11.9 crore and a loss after tax of Rs. 14.8 crore.\nReported profitability included Rs. 11.56 crore of one-time receivable\nprovisions, primarily relating to an aged defence transaction; a Rs. 3.50\ncrore hedge provision under discontinued operations; and Rs. 21.81 crore of\ndivestment-related exceptional costs under discontinued operations.\n\nExcluding the two provisions aggregating Rs. 15.06 crore, management-defined\nnormalised EBITDA was Rs. 41.0 crore, up 20.5% year on year, with a margin of\n12.4%. After also adjusting for the Rs. 21.81 crore exceptional charge,\nmanagement-defined normalised profit before tax was Rs. 23.1 crore.\n\nQ1 FY27 highlights\n* Record revenue from operations including discontinued operations: Rs. 346.7\ncrore, up 42.2% YoY and 27.0% QoQ.\n* Continuing operations: Rs. 183.4 crore of reported revenue from operations;\nmanagement-defined like-for-like revenue excluding Add Solutions increased\n~100% YoY to approximately Rs. 181 crore.\n* Defence: revenue more than doubled to Rs. 125.0 crore; updated Assured\nForecast Visibility stood at Rs. 4,557 crore after Q1 execution.\n* XiDA: revenue increased ~62% YoY to Rs. 49.5 crore; EBITDA rose 114.5% to\nRs. 14.7 crore, with a 29.7% margin.\n* Space: the Space division has been established as the Company's fourth\ngrowth platform: a satellite manufacturing, assembly, integration and testing\nfacility is under construction at the Devanahalli Atmanirbhar Complex, and\ntechnology-transfer collaborations are in progress.\n* Manufacturing capacity: Property, plant and equipment together with capital\nwork-in-progress increased by Rs. 40.1 crore, during Q1 FY27. Devanahalli\nAeroLand has been commissioned; Phase 1 of the Devanahalli Atmanirbhar Complex\nis under construction; land acquisition for the Missile Atmanirbhar Complex in\nHyderabad has been completed and construction is commencing; and land\nallocation for the proposed 240,000 sq. ft. Center for Advanced Manufacturing\nat Devanahalli is in process.\n* Add Solutions exit: Management is implementing an action plan and is\ntargeting completion of the exit by Q4 FY27.\n* Portfolio transition: The Engineering Services and Aerospace Services\ndivestments, announced in May and June 2026, respectively, represent a minimum\nconsideration of Rs. 1,685 crore and total consideration of approximately Rs.\n2,256 crore—approximately USD 237 million. Closing is planned in two phases:\nPhase 1 by Q2 FY27, with approximately Rs. 180 crore of initial proceeds\nexpected within five days, and Phase 2 by Q3 FY27, completing the\napproximately Rs. 2,256 crore divestment programme.\nManagement commentary\n\n\"Q1 FY27 marks the first quarter of AXISCADES' transition into a focused\nmanufacturing, products and solutions company built for non-linear growth.\nRevenue per employee is set to rise from Rs 42 lakh in FY26 to Rs 1.2 crore in\nFY27 — more than a threefold gain, and the clearest measure of the shift\nfrom a people-led services model to a products and manufacturing one.\n\nThe strength of the businesses we have chosen to scale is increasingly\nvisible. Defence revenue more than doubled. XiDA added two of the world's\nlargest technology companies as customers. Aerospace Manufacturing is being\nrebuilt through organic scale-up and acquisition, and Space is now established\nas our fourth growth platform.\n\nWith the non-core divestment substantially complete, we are directing capital\nand management bandwidth towards Aerospace Manufacturing, Defence Systems,\nXiDA and Space, in line with our Power 930 roadmap.\"\n\nDr. Sampath Ravinarayanan, Founder, Chairman & Managing Director\n\n\"The quarter combines strong revenue growth with the accounting impact of a\nmajor portfolio transition. Reported profitability includes Rs. 15.06 crore of\none-time provisions and Rs. 21.81 crore of divestment-related exceptional\ncosts. Excluding these items, management-defined normalised EBITDA was Rs.\n41.0 crore at a 11.8% margin, and management-defined normalised PBT was Rs.\n23.1 crore. Our immediate priorities are to complete the divestment, address\nthe Add Solutions drag, scale the retained portfolio and deploy the proceeds\ninto growth without equity dilution.\"\n\nShashidhar SK, Group Chief Financial Officer\n\nRs. crore, except margins\n\n Particulars                           Q1 FY27  Q4 FY26  Q1 FY26  QoQ        YoY        \n Revenue from operations (continuing   346.6    273.0    243.7    +27.0 %    +42.2 %    \n and discontinued operations)                                                           \n Reported EBITDA                       27.9     33.6     34.1     (17.0) %   (18.1) %   \n Reported EBITDA margin                8.1 %    12.3 %   14.0 %   (426) bps  (592) bps  \n Normalised EBITDA                     41.0     33.6     34.1     +22.1 %    +20.5 %    \n Normalised EBITDA margin              11.8 %   12.3 %   14.0 %   (47) bps   (214) bps  \n EBIT                                  15.8     19.8     24.7     (20.1) %   (35.9) %   \n Reported PBT / (loss)                 (11.9)   10.5     28.0     n.m.       n.m.       \n Normalised PBT                        23.1     10.5     28.0     +119.6 %   (17.6) %   \n Reported PAT / (loss)                 (14.8)   0.4      20.9     n.m.       n.m.       \n n.m. = not meaningful because the comparison crosses between profit and loss. Reported amounts below are derived from the Company's  \n unaudited consolidated financial results under Regulation 33. EBITDA is calculated as revenue from operations less operating expenses  \n other than finance costs and depreciation and amortisation, and excludes other income; EBIT is EBITDA less depreciation and  \n amortisation. Normalised measures are management-defined alternative performance measures. \n\nReported-to-normalised reconciliation\n\n Measure       Reported  Receivable provision  Hedge provision  Deal-related exceptional costs  Normalised  \n EBITDA        27.9      9.62                  3.50             -                               41.0        \n PBT / (loss)  (11.9)    9.62                  3.50             21.81                           23.0        \n Normalised EBITDA and normalised PBT are management-defined alternative performance measures and are not measures defined under  \n Ind AS. Reported amounts are derived from the Company's unaudited consolidated financial results under Regulation 33; management-  \n defined adjustments are sourced from the Q1 FY27 investor presentation. These measures are presented to explain identified one-time  \n and transaction-related items and should not be considered in isolation or as substitutes for reported results. Figures may not sum due to  \n rounding.                                                                                                  \n\nBusiness performance\n\nDefence: revenue more than doubles; sole-source wins strengthen visibility\n\nDefence revenue rose ~111% year on year and 86.1% sequentially to Rs. 125.0\ncrore. Management-defined underlying EBITDA, excluding Rs. 8.7 crore of\none-time provisions, was Rs. 13.8 crore, representing a margin of 11.0% and\nyear-on-year growth of 25.1%.\n\nSince 1 April 2026, the business secured or advanced eight programmes,\ncomprising four in-quarter programmes and four sole-source wins after the\nbalance-sheet date. The post-balance-sheet programmes cover on-board computers\nfor an anti-tank missile, a PCM encoder for a missile programme, antenna beam\ncontrol for the Uttam radar and an Exciter Receiver Processor for a marine\nhelicopter.\n\nAssured Forecast Visibility (AFV) for FY27-FY30 increased by Rs. 332 crore\nfrom new design wins and reduced by Rs. 125 crore executed during Q1, moving\nfrom Rs. 4,350 crore at FY26 year-end to Rs. 4,557 crore. AFV is a\nmanagement-defined operating measure comprising customer-communicated\nprogramme requirements where AXISCADES holds design-won and qualified\nsole-source or limited-source status; it is not an order book or guarantee of\nfuture revenue, and actual procurement remains subject to customer timelines.\n\nXiDA: global customer additions reinforce electronics and AI platform\n\nXiDA revenue increased 62.9% year on year and 30.3% sequentially to Rs. 49.5\ncrore. EBITDA increased 114.5% year on year to Rs. 14.7 crore, with a margin\nof 29.7%.\n\nThe new US business contributed Rs. 15.2 crore of revenue and Rs. 7.0 crore of\nEBITDA at a 46.2% margin in Q1. The arrangement brings two global tier-one\ncustomers: the world's largest semiconductor equipment company and one of the\nworld's largest AI and hyperscale technology companies. Customers are\ndescribed rather than named pending disclosure consent.\n\nThe acquisition is being progressed through a business transfer agreement\nrather than a share purchase. Operations and facilities are expected to\ntransfer and customer contracts to migrate through novation. Completion is\ntargeted in Q2 FY27, subject to the applicable conditions.\n\nAerospace Manufacturing: capability build precedes scale\n\nThe reconstituted Aerospace business reported revenue of Rs. 6.1 crore and an\nEBITDA loss of Rs. 5.4 crore, reflecting the cost of building leadership and\ncapability ahead of acquisition-led and organic scale-up.\n\nAXISCADES has in place a non-binding offer for an AS9100D-certified precision\nmanufacturing company an indicative pro forma FY27 revenue of Rs. 180 crore\nand EBITDA of Rs. 39 crore, representing a 22% margin. The proposed\ntransaction remains subject to definitive documentation, due diligence,\napplicable corporate approvals and regulatory clearances; all pro forma\nfigures are indicative.\n\nAXISCADES also plans a 240,000 sq. ft. Center for Advanced Manufacturing on a\n20-acre campus at Devanahalli, approximately six kilometres from the\nDevanahalli Atmanirbhar Complex. The proposed quad-use facility is intended to\nsupport Aerospace, Defence, Space and Electronics. The land allocation process\nis under way.\n\nSpace: fourth growth platform established\n\nAXISCADES has established its Space division and commenced construction of a\nsatellite manufacturing, assembly, integration and test facility at the\nDevanahalli Atmanirbhar Complex. Technology-transfer collaborations are in\nprogress, with formal details planned for the Bengaluru Space Expo and the\nWorld Space Business Week in Paris, in September 2026, subject to definitive\nagreements.\n\nThe Company has earmarked Rs. 300 crore from proposed divestment proceeds for\nthe Space platform, comprising Rs. 120 crore for facilities and training and\nRs. 180 crore across two planned joint ventures. This proposed deployment\nremains subject to completion of the divestment transactions, definitive\nagreements and applicable approvals.\n\nPortfolio transformation and capital deployment\n\nDuring May and June 2026, AXISCADES announced the divestment of its\nEngineering Services and Aerospace Services businesses, respectively, to the\nAkkodis Group. The divestment programme represents a minimum consideration of\nRs. 1,685 crore and total consideration of approximately Rs. 2,256 crore -\napproximately USD 237 million. Shareholders approved both transactions on 27\nJuly 2026, and the transactions are progressing through the applicable closing\nconditions.\n\nManagement is targeting completion of Phase 1 by 31 August 2026, with\napproximately Rs. 180 crore of initial proceeds expected within five days, and\nPhase 2 by 30 November 2026, completing the approximately Rs. 2,256 crore\ndivestment programme. On completion, the Company expects to recognise a gain\non disposal of approximately Rs. 1,255 crore, subject to closing adjustments,\nthe applicable exchange rate and final accounting determination.\n\nThe proceeds are intended to fund the Company's transition into Aerospace\nManufacturing, Defence Systems, XiDA and Spacetech - including strategic\nacquisitions and manufacturing infrastructure - without equity dilution.\nProperty, plant and equipment together with capital work-in-progress increased\nby Rs. 40.1 crore, or 29.5%, during Q1 FY27. Devanahalli AeroLand has been\ncommissioned and is supporting aerospace and defence supply-chain and\nlogistics requirements. Phase 1 of the Devanahalli Atmanirbhar Complex is\nunder construction and is targeted to become operational during FY27; the\nfacility also hosts the satellite manufacturing, assembly, integration and\ntesting facility for the new Space division. At the Missile Atmanirbhar\nComplex in Hyderabad, land acquisition has been completed, the groundbreaking\nceremony was held in July 2026 and construction is commencing. Land allocation\nis in process for the proposed Center for Advanced Manufacturing—a 240,000\nsq. ft. quad-use facility planned on 20 acres at Devanahalli, approximately\nsix kilometres from the Devanahalli Atmanirbhar Complex—which is intended to\nhouse future aerospace manufacturing acquisitions.\n\nNote: The consideration values, anticipated proceeds, disposal gain and\ncompletion timelines are based on management's current estimates and\ndisclosures in the Q1 FY27 investor presentation. They remain subject to\nsatisfaction of closing conditions, transaction adjustments, exchange-rate\nmovements and final accounting determination.\n\nDeferred Revenue Update\n\nManagement estimates that approximately Rs. 64 cr of the Rs. 142 crore of FY26\nrevenue deferred for supply-chain and operational reasons was recognised in Q1\nFY27. Management expects to recognise the remaining amount across Q2 and Q3\nFY27, subject to supply-chain availability, operational execution, customer\nacceptance and applicable revenue-recognition requirements. Management states\nthat no related orders were cancelled and no customers were lost.\n\nThese targets and timelines are forward-looking, are subject to the risks and\nqualifications set out below, and do not constitute guarantees of future\nperformance.\n\nAbout AXISCADES Technologies Limited\n\nAXISCADES Technologies Limited is a Bengaluru-headquartered technology,\nengineering and advanced manufacturing company serving global OEMs and\ncustomers across Aerospace, Defence, Space, and Electronics, Semiconductors\nand Artificial Intelligence. Its integrated capabilities span product design\nand engineering, embedded and electronic systems, precision manufacturing,\ntesting, integration, and technology-led product and systems development.\nCombining deep domain expertise with expanding manufacturing and\nsystems-integration capabilities, AXISCADES supports the development and\ndelivery of complex, mission-critical programmes. The Company is listed on the\nNational Stock Exchange of India Limited (NSE: AXISCADES) and BSE Limited\n(BSE: 532395).\n\nWebsite: www.axiscades.com\nCIN: L72200KA1990PLC084435\n\nSafe harbour\n\nCertain statements in this release constitute forward-looking statements\nwithin the meaning of applicable laws and regulations. These statements\ninclude, among others, expectations and targets relating to transaction\ncompletion and consideration, receipt of approvals, accounting outcomes,\ncustomer and employee transition, programme procurement and delivery, revenue\nrecognition, recovery of deferred revenue, business transfers and\nacquisitions, capital deployment, manufacturing and facility scale-up, Space\ncollaborations and joint ventures, revenue growth, margins, profitability,\ncash flows and the Company's Power 930 strategic objectives. Forward-looking\nstatements are based on current assumptions and involve risks, uncertainties\nand other factors that could cause actual outcomes to differ materially.\nAXISCADES Technologies Limited undertakes no obligation to publicly update any\nforward-looking statement except as required under applicable law.\n\n \n\nView original\ncontent:https://www.prnewswire.com/in/news-releases/axiscades-reports-record-rs-346-7-crore-revenue-from-operations-for-q1-fy27--including-discontinued-operations-up-42-2-yoy-302851790.html\n\n\n\nInvestor and media contacts: AXISCADES Technologies Limited | Mukund Santhanam - Chief Growth & Strategy Officer and Head - Investor Relations | Akash Pandey - Manager, Investor Relations | Email: investor.relations@axiscades.in | IR adviser Shankhini Saha - Dickenson World | Email: axiscades@dickensonworld.com\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPrelkNyka","title":"AXISCADES reports record Rs. 346.7 crore revenue from operations for Q1 FY27, including discontinued operations, up 42.2% YoY","author":"PR Newswire","ticker":"AXIT","created":"2026-08-14T10:53:45.317Z","tickers":["AXIT"],"exchange":"NSE India","article_body":"AXISCADES reports record Rs. 346.7 crore revenue from operations for Q1 FY27,\nincluding discontinued operations, up 42.2% YoY\nPR Newswire\n\nBENGALURU, India, Aug. 14, 2026\n\nDefence and XiDA drive retained portfolio growth\n\nBENGALURU, India, Aug. 14, 2026 /PRNewswire/ -- AXISCADES Technologies\nLimited (BSE: 532395) (NSE: AXISCADES), a technology, engineering and\nmanufacturing company focused on Aerospace, Defence, Space and\nXiDA/electronics and AI, today announced its consolidated results for the\nquarter ended 30 June 2026.\n\nQ1 FY27 consolidated revenue from operations, comprising continuing and\ndiscontinued operations, stood at a quarterly record of Rs. 346.7 crore,\nincreasing by 42.2% year on year and 27.0% sequentially.\n\nDuring May and June 2026, the Company announced the divestment of its\nEngineering Services and Aerospace Services businesses, respectively, to the\nAkkodis Group. The divestment programme represents a minimum consideration of\nRs. 1,685 crore and total consideration of approximately Rs. 2,256\ncrore—approximately USD 237 million. The transactions are progressing\nthrough the applicable closing conditions.\n\nThe Company presents continuing and discontinued operations separately, in\nline with the prescribed accounting standards. In accordance with Ind AS 105,\nthe comparative periods have been restated on the same basis.\n\nRevenue from operations from continuing operations was Rs. 183.4 crore. On a\nlike-for-like basis excluding Add Solutions, which management intends to exit\nin FY27, revenue was approximately Rs. 181 crore, an increase of ~100% from\napproximately Rs. 90 crore in Q1 FY26.\n\nReported EBITDA was Rs. 27.9 crore, with an EBITDA margin of 8.1%, compared\nwith Rs. 34.1 crore and 14.0%, respectively, in Q1 FY26. The Company reported\na loss before tax of Rs. 11.9 crore and a loss after tax of Rs. 14.8 crore.\nReported profitability included Rs. 11.56 crore of one-time receivable\nprovisions, primarily relating to an aged defence transaction; a Rs. 3.50\ncrore hedge provision under discontinued operations; and Rs. 21.81 crore of\ndivestment-related exceptional costs under discontinued operations.\n\nExcluding the two provisions aggregating Rs. 15.06 crore, management-defined\nnormalised EBITDA was Rs. 41.0 crore, up 20.5% year on year, with a margin of\n12.4%. After also adjusting for the Rs. 21.81 crore exceptional charge,\nmanagement-defined normalised profit before tax was Rs. 23.1 crore.\n\nQ1 FY27 highlights\n* Record revenue from operations including discontinued operations: Rs. 346.7\ncrore, up 42.2% YoY and 27.0% QoQ.\n* Continuing operations: Rs. 183.4 crore of reported revenue from operations;\nmanagement-defined like-for-like revenue excluding Add Solutions increased\n~100% YoY to approximately Rs. 181 crore.\n* Defence: revenue more than doubled to Rs. 125.0 crore; updated Assured\nForecast Visibility stood at Rs. 4,557 crore after Q1 execution.\n* XiDA: revenue increased ~62% YoY to Rs. 49.5 crore; EBITDA rose 114.5% to\nRs. 14.7 crore, with a 29.7% margin.\n* Space: the Space division has been established as the Company's fourth\ngrowth platform: a satellite manufacturing, assembly, integration and testing\nfacility is under construction at the Devanahalli Atmanirbhar Complex, and\ntechnology-transfer collaborations are in progress.\n* Manufacturing capacity: Property, plant and equipment together with capital\nwork-in-progress increased by Rs. 40.1 crore, during Q1 FY27. Devanahalli\nAeroLand has been commissioned; Phase 1 of the Devanahalli Atmanirbhar Complex\nis under construction; land acquisition for the Missile Atmanirbhar Complex in\nHyderabad has been completed and construction is commencing; and land\nallocation for the proposed 240,000 sq. ft. Center for Advanced Manufacturing\nat Devanahalli is in process.\n* Add Solutions exit: Management is implementing an action plan and is\ntargeting completion of the exit by Q4 FY27.\n* Portfolio transition: The Engineering Services and Aerospace Services\ndivestments, announced in May and June 2026, respectively, represent a minimum\nconsideration of Rs. 1,685 crore and total consideration of approximately Rs.\n2,256 crore—approximately USD 237 million. Closing is planned in two phases:\nPhase 1 by Q2 FY27, with approximately Rs. 180 crore of initial proceeds\nexpected within five days, and Phase 2 by Q3 FY27, completing the\napproximately Rs. 2,256 crore divestment programme.\nManagement commentary\n\n\"Q1 FY27 marks the first quarter of AXISCADES' transition into a focused\nmanufacturing, products and solutions company built for non-linear growth.\nRevenue per employee is set to rise from Rs 42 lakh in FY26 to Rs 1.2 crore in\nFY27 — more than a threefold gain, and the clearest measure of the shift\nfrom a people-led services model to a products and manufacturing one.\n\nThe strength of the businesses we have chosen to scale is increasingly\nvisible. Defence revenue more than doubled. XiDA added two of the world's\nlargest technology companies as customers. Aerospace Manufacturing is being\nrebuilt through organic scale-up and acquisition, and Space is now established\nas our fourth growth platform.\n\nWith the non-core divestment substantially complete, we are directing capital\nand management bandwidth towards Aerospace Manufacturing, Defence Systems,\nXiDA and Space, in line with our Power 930 roadmap.\"\n\nDr. Sampath Ravinarayanan, Founder, Chairman & Managing Director\n\n\"The quarter combines strong revenue growth with the accounting impact of a\nmajor portfolio transition. Reported profitability includes Rs. 15.06 crore of\none-time provisions and Rs. 21.81 crore of divestment-related exceptional\ncosts. Excluding these items, management-defined normalised EBITDA was Rs.\n41.0 crore at a 11.8% margin, and management-defined normalised PBT was Rs.\n23.1 crore. Our immediate priorities are to complete the divestment, address\nthe Add Solutions drag, scale the retained portfolio and deploy the proceeds\ninto growth without equity dilution.\"\n\nShashidhar SK, Group Chief Financial Officer\n\nRs. crore, except margins\n\n Particulars                           Q1 FY27  Q4 FY26  Q1 FY26  QoQ        YoY        \n Revenue from operations (continuing   346.6    273.0    243.7    +27.0 %    +42.2 %    \n and discontinued operations)                                                           \n Reported EBITDA                       27.9     33.6     34.1     (17.0) %   (18.1) %   \n Reported EBITDA margin                8.1 %    12.3 %   14.0 %   (426) bps  (592) bps  \n Normalised EBITDA                     41.0     33.6     34.1     +22.1 %    +20.5 %    \n Normalised EBITDA margin              11.8 %   12.3 %   14.0 %   (47) bps   (214) bps  \n EBIT                                  15.8     19.8     24.7     (20.1) %   (35.9) %   \n Reported PBT / (loss)                 (11.9)   10.5     28.0     n.m.       n.m.       \n Normalised PBT                        23.1     10.5     28.0     +119.6 %   (17.6) %   \n Reported PAT / (loss)                 (14.8)   0.4      20.9     n.m.       n.m.       \n n.m. = not meaningful because the comparison crosses between profit and loss. Reported amounts below are derived from the Company's  \n unaudited consolidated financial results under Regulation 33. EBITDA is calculated as revenue from operations less operating expenses  \n other than finance costs and depreciation and amortisation, and excludes other income; EBIT is EBITDA less depreciation and  \n amortisation. Normalised measures are management-defined alternative performance measures. \n\nReported-to-normalised reconciliation\n\n Measure       Reported  Receivable provision  Hedge provision  Deal-related exceptional costs  Normalised  \n EBITDA        27.9      9.62                  3.50             -                               41.0        \n PBT / (loss)  (11.9)    9.62                  3.50             21.81                           23.0        \n Normalised EBITDA and normalised PBT are management-defined alternative performance measures and are not measures defined under  \n Ind AS. Reported amounts are derived from the Company's unaudited consolidated financial results under Regulation 33; management-  \n defined adjustments are sourced from the Q1 FY27 investor presentation. These measures are presented to explain identified one-time  \n and transaction-related items and should not be considered in isolation or as substitutes for reported results. Figures may not sum due to  \n rounding.                                                                                                  \n\nBusiness performance\n\nDefence: revenue more than doubles; sole-source wins strengthen visibility\n\nDefence revenue rose ~111% year on year and 86.1% sequentially to Rs. 125.0\ncrore. Management-defined underlying EBITDA, excluding Rs. 8.7 crore of\none-time provisions, was Rs. 13.8 crore, representing a margin of 11.0% and\nyear-on-year growth of 25.1%.\n\nSince 1 April 2026, the business secured or advanced eight programmes,\ncomprising four in-quarter programmes and four sole-source wins after the\nbalance-sheet date. The post-balance-sheet programmes cover on-board computers\nfor an anti-tank missile, a PCM encoder for a missile programme, antenna beam\ncontrol for the Uttam radar and an Exciter Receiver Processor for a marine\nhelicopter.\n\nAssured Forecast Visibility (AFV) for FY27-FY30 increased by Rs. 332 crore\nfrom new design wins and reduced by Rs. 125 crore executed during Q1, moving\nfrom Rs. 4,350 crore at FY26 year-end to Rs. 4,557 crore. AFV is a\nmanagement-defined operating measure comprising customer-communicated\nprogramme requirements where AXISCADES holds design-won and qualified\nsole-source or limited-source status; it is not an order book or guarantee of\nfuture revenue, and actual procurement remains subject to customer timelines.\n\nXiDA: global customer additions reinforce electronics and AI platform\n\nXiDA revenue increased 62.9% year on year and 30.3% sequentially to Rs. 49.5\ncrore. EBITDA increased 114.5% year on year to Rs. 14.7 crore, with a margin\nof 29.7%.\n\nThe new US business contributed Rs. 15.2 crore of revenue and Rs. 7.0 crore of\nEBITDA at a 46.2% margin in Q1. The arrangement brings two global tier-one\ncustomers: the world's largest semiconductor equipment company and one of the\nworld's largest AI and hyperscale technology companies. Customers are\ndescribed rather than named pending disclosure consent.\n\nThe acquisition is being progressed through a business transfer agreement\nrather than a share purchase. Operations and facilities are expected to\ntransfer and customer contracts to migrate through novation. Completion is\ntargeted in Q2 FY27, subject to the applicable conditions.\n\nAerospace Manufacturing: capability build precedes scale\n\nThe reconstituted Aerospace business reported revenue of Rs. 6.1 crore and an\nEBITDA loss of Rs. 5.4 crore, reflecting the cost of building leadership and\ncapability ahead of acquisition-led and organic scale-up.\n\nAXISCADES has in place a non-binding offer for an AS9100D-certified precision\nmanufacturing company an indicative pro forma FY27 revenue of Rs. 180 crore\nand EBITDA of Rs. 39 crore, representing a 22% margin. The proposed\ntransaction remains subject to definitive documentation, due diligence,\napplicable corporate approvals and regulatory clearances; all pro forma\nfigures are indicative.\n\nAXISCADES also plans a 240,000 sq. ft. Center for Advanced Manufacturing on a\n20-acre campus at Devanahalli, approximately six kilometres from the\nDevanahalli Atmanirbhar Complex. The proposed quad-use facility is intended to\nsupport Aerospace, Defence, Space and Electronics. The land allocation process\nis under way.\n\nSpace: fourth growth platform established\n\nAXISCADES has established its Space division and commenced construction of a\nsatellite manufacturing, assembly, integration and test facility at the\nDevanahalli Atmanirbhar Complex. Technology-transfer collaborations are in\nprogress, with formal details planned for the Bengaluru Space Expo and the\nWorld Space Business Week in Paris, in September 2026, subject to definitive\nagreements.\n\nThe Company has earmarked Rs. 300 crore from proposed divestment proceeds for\nthe Space platform, comprising Rs. 120 crore for facilities and training and\nRs. 180 crore across two planned joint ventures. This proposed deployment\nremains subject to completion of the divestment transactions, definitive\nagreements and applicable approvals.\n\nPortfolio transformation and capital deployment\n\nDuring May and June 2026, AXISCADES announced the divestment of its\nEngineering Services and Aerospace Services businesses, respectively, to the\nAkkodis Group. The divestment programme represents a minimum consideration of\nRs. 1,685 crore and total consideration of approximately Rs. 2,256 crore -\napproximately USD 237 million. Shareholders approved both transactions on 27\nJuly 2026, and the transactions are progressing through the applicable closing\nconditions.\n\nManagement is targeting completion of Phase 1 by 31 August 2026, with\napproximately Rs. 180 crore of initial proceeds expected within five days, and\nPhase 2 by 30 November 2026, completing the approximately Rs. 2,256 crore\ndivestment programme. On completion, the Company expects to recognise a gain\non disposal of approximately Rs. 1,255 crore, subject to closing adjustments,\nthe applicable exchange rate and final accounting determination.\n\nThe proceeds are intended to fund the Company's transition into Aerospace\nManufacturing, Defence Systems, XiDA and Spacetech - including strategic\nacquisitions and manufacturing infrastructure - without equity dilution.\nProperty, plant and equipment together with capital work-in-progress increased\nby Rs. 40.1 crore, or 29.5%, during Q1 FY27. Devanahalli AeroLand has been\ncommissioned and is supporting aerospace and defence supply-chain and\nlogistics requirements. Phase 1 of the Devanahalli Atmanirbhar Complex is\nunder construction and is targeted to become operational during FY27; the\nfacility also hosts the satellite manufacturing, assembly, integration and\ntesting facility for the new Space division. At the Missile Atmanirbhar\nComplex in Hyderabad, land acquisition has been completed, the groundbreaking\nceremony was held in July 2026 and construction is commencing. Land allocation\nis in process for the proposed Center for Advanced Manufacturing—a 240,000\nsq. ft. quad-use facility planned on 20 acres at Devanahalli, approximately\nsix kilometres from the Devanahalli Atmanirbhar Complex—which is intended to\nhouse future aerospace manufacturing acquisitions.\n\nNote: The consideration values, anticipated proceeds, disposal gain and\ncompletion timelines are based on management's current estimates and\ndisclosures in the Q1 FY27 investor presentation. They remain subject to\nsatisfaction of closing conditions, transaction adjustments, exchange-rate\nmovements and final accounting determination.\n\nDeferred Revenue Update\n\nManagement estimates that approximately Rs. 64 cr of the Rs. 142 crore of FY26\nrevenue deferred for supply-chain and operational reasons was recognised in Q1\nFY27. Management expects to recognise the remaining amount across Q2 and Q3\nFY27, subject to supply-chain availability, operational execution, customer\nacceptance and applicable revenue-recognition requirements. Management states\nthat no related orders were cancelled and no customers were lost.\n\nThese targets and timelines are forward-looking, are subject to the risks and\nqualifications set out below, and do not constitute guarantees of future\nperformance.\n\nAbout AXISCADES Technologies Limited\n\nAXISCADES Technologies Limited is a Bengaluru-headquartered technology,\nengineering and advanced manufacturing company serving global OEMs and\ncustomers across Aerospace, Defence, Space, and Electronics, Semiconductors\nand Artificial Intelligence. Its integrated capabilities span product design\nand engineering, embedded and electronic systems, precision manufacturing,\ntesting, integration, and technology-led product and systems development.\nCombining deep domain expertise with expanding manufacturing and\nsystems-integration capabilities, AXISCADES supports the development and\ndelivery of complex, mission-critical programmes. The Company is listed on the\nNational Stock Exchange of India Limited (NSE: AXISCADES) and BSE Limited\n(BSE: 532395).\n\nWebsite: www.axiscades.com\nCIN: L72200KA1990PLC084435\n\nSafe harbour\n\nCertain statements in this release constitute forward-looking statements\nwithin the meaning of applicable laws and regulations. These statements\ninclude, among others, expectations and targets relating to transaction\ncompletion and consideration, receipt of approvals, accounting outcomes,\ncustomer and employee transition, programme procurement and delivery, revenue\nrecognition, recovery of deferred revenue, business transfers and\nacquisitions, capital deployment, manufacturing and facility scale-up, Space\ncollaborations and joint ventures, revenue growth, margins, profitability,\ncash flows and the Company's Power 930 strategic objectives. Forward-looking\nstatements are based on current assumptions and involve risks, uncertainties\nand other factors that could cause actual outcomes to differ materially.\nAXISCADES Technologies Limited undertakes no obligation to publicly update any\nforward-looking statement except as required under applicable law.\n\n \n\nView original\ncontent:https://www.prnewswire.com/in/news-releases/axiscades-reports-record-rs-346-7-crore-revenue-from-operations-for-q1-fy27--including-discontinued-operations-up-42-2-yoy-302851790.html\n\n\n\nInvestor and media contacts: AXISCADES Technologies Limited | Mukund Santhanam - Chief Growth & Strategy Officer and Head - Investor Relations | Akash Pandey - Manager, Investor Relations | Email: investor.relations@axiscades.in | IR adviser Shankhini Saha - Dickenson World | Email: axiscades@dickensonworld.com\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-08-14T10:53:45.385831896Z","server_sent_at_ms":1786704825385},"received_at":"2026-08-14T10:53:45.535Z","source_url":"https://www.prnewswire.com/in/news-releases/axiscades-reports-record-rs-346-7-crore-revenue-from-operations-for-q1-fy27--including-discontinued-operations-up-42-2-yoy-302851790.html"},"analysis":{"id":"108195","press_release_id":"119197","analysis_json":{"industry":{"label":"Aerospace & Defense","sector":"Industrials"},"redFlags":["Reported net loss of Rs. 14.8 crore due to one-time provisions","Rs. 11.56 crore receivable provision related to an aged defence transaction","Add Solutions unit continues to be a drag on performance; exit planned"],"eventType":"earnings","narrative":"AXISCADES reported Q1 FY27 revenue of Rs. 346.7 crore, up 42.2% year-over-year, while absorbing a reported net loss of Rs. 14.8 crore driven by one-time provisions and divestment-related costs.\n\nUnderlying performance was strong, with continuing operations revenue growing approximately 100% on a like-for-like basis to Rs. 181 crore, fueled by a doubling of Defence revenue to Rs. 125 crore and robust 62% growth in XiDA.\n\nThe company announced the sale of its Engineering and Aerospace Services divisions to Akkodis Group for approximately $237 million, positioning itself as a focused manufacturing and products entity with capital to deploy towards Aerospace, Defence and Space expansion without equity dilution.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"$237M divestment transforms AXISCADES into a pure-play Aerospace & Defense manufacturer, powering a 100% revenue surge in retained ops despite headline loss."},"keyFigures":{"revenue":"Rs. 346.7 crore","guidance":"Divestment Phase 1 closing by Q2 FY27, Phase 2 by Q3 FY27; Space platform funding of Rs. 300 crore from proceeds; Add Solutions exit targeted by Q4 FY27.","revenueYoy":"42.2%","dealValueUsd":"$237 million","customDimensions":{"xida_revenue":"Rs. 49.5 crore","normalised_pbt":"Rs. 23.1 crore","defence_revenue":"Rs. 125.0 crore","normalised_ebitda":"Rs. 41.0 crore","reported_pat_loss":"Rs. 14.8 crore","normalised_ebitda_margin":"11.8%","gain_on_disposal_estimate":"Rs. 1,255 crore","assured_forecast_visibility":"Rs. 4,557 crore"}},"quotedText":"Revenue per employee is set to rise from Rs 42 lakh in FY26 to Rs 1.2 crore in FY27 — more than a threefold gain, and the clearest measure of the shift from a people-led services model to a products and manufacturing one.","namedEntities":{"people":[{"name":"Dr. Sampath Ravinarayanan","role":"Founder, Chairman & Managing Director"},{"name":"Shashidhar SK","role":"Group Chief Financial Officer"}],"products":["XiDA"],"companies":[{"name":"Akkodis Group","relationship":"acquirer"}],"dollarAmounts":[{"amount":"Rs. 346.7 crore","context":"Q1 FY27 revenue from operations (consolidated)"},{"amount":"Rs. 2,256 crore","context":"Total consideration for divestment of Engineering and Aerospace Services"},{"amount":"$237 million","context":"Approximate USD value of divestment consideration"},{"amount":"Rs. 14.8 crore","context":"Reported loss after tax for Q1 FY27"},{"amount":"Rs. 125.0 crore","context":"Q1 FY27 Defence revenue"},{"amount":"Rs. 1,255 crore","context":"Expected gain on disposal of divested businesses"}]},"materialImpact":{"score":5,"reasoning":"Major corporate transformation with the divestiture of core Engineering and Aerospace Services businesses for ~$237 million (Rs. 2,256 crore), which represents a significant value unlock relative to company size. Combined with record revenue growth (42.2% YoY) and the strategic pivot to high-margin manufacturing, this is a material structural event."},"tickerRelevance":{"others":[],"primary":"AXIT"},"globalImportance":25,"audienceRelevance":20,"eventTypeSecondary":["m_and_a"],"importanceComponents":{"tickerTier":"Small/Mid-cap","eventGravity":"Major divestiture and strategic pivot","sectorWeight":"Aerospace & Defense"}},"event_type":"earnings","event_type_secondary":["m_and_a"],"sentiment":"bullish","material_impact_score":5,"narrative":"AXISCADES reported Q1 FY27 revenue of Rs. 346.7 crore, up 42.2% year-over-year, while absorbing a reported net loss of Rs. 14.8 crore driven by one-time provisions and divestment-related costs.\n\nUnderlying performance was strong, with continuing operations revenue growing approximately 100% on a like-for-like basis to Rs. 181 crore, fueled by a doubling of Defence revenue to Rs. 125 crore and robust 62% growth in XiDA.\n\nThe company announced the sale of its Engineering and Aerospace Services divisions to Akkodis Group for approximately $237 million, positioning itself as a focused manufacturing and products entity with capital to deploy towards Aerospace, Defence and Space expansion without equity dilution.","key_figures":{"revenue":"Rs. 346.7 crore","guidance":"Divestment Phase 1 closing by Q2 FY27, Phase 2 by Q3 FY27; Space platform funding of Rs. 300 crore from proceeds; Add Solutions exit targeted by Q4 FY27.","revenueYoy":"42.2%","dealValueUsd":"$237 million","customDimensions":{"xida_revenue":"Rs. 49.5 crore","normalised_pbt":"Rs. 23.1 crore","defence_revenue":"Rs. 125.0 crore","normalised_ebitda":"Rs. 41.0 crore","reported_pat_loss":"Rs. 14.8 crore","normalised_ebitda_margin":"11.8%","gain_on_disposal_estimate":"Rs. 1,255 crore","assured_forecast_visibility":"Rs. 4,557 crore"}},"named_entities":{"people":[{"name":"Dr. Sampath Ravinarayanan","role":"Founder, Chairman & Managing Director"},{"name":"Shashidhar SK","role":"Group Chief Financial Officer"}],"products":["XiDA"],"companies":[{"name":"Akkodis Group","relationship":"acquirer"}],"dollarAmounts":[{"amount":"Rs. 346.7 crore","context":"Q1 FY27 revenue from operations (consolidated)"},{"amount":"Rs. 2,256 crore","context":"Total consideration for divestment of Engineering and Aerospace Services"},{"amount":"$237 million","context":"Approximate USD value of divestment consideration"},{"amount":"Rs. 14.8 crore","context":"Reported loss after tax for Q1 FY27"},{"amount":"Rs. 125.0 crore","context":"Q1 FY27 Defence revenue"},{"amount":"Rs. 1,255 crore","context":"Expected gain on disposal of divested businesses"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-14T11:10:40.156Z","global_importance":25,"audience_relevance":20,"importance_components":{"tickerTier":"Small/Mid-cap","eventGravity":"Major divestiture and strategic pivot","sectorWeight":"Aerospace & Defense"}},"durationMs":885678,"modelName":"glm-4.7"}}