AXISCADES — FROM ENGINEERING TO DEFENCE & DEEP-TECH 🚀

The business is getting smaller in structure — but potentially much bigger in opportunity. AXISCADES is transforming from a diversified engineering company into a focused play across Defence, Aerospace, Space, Electronics and AI/deep tech. And the latest numbers show why this transition deserves attention. Q1 FY27 revenue from continuing operations stood at ₹183 crore. More importantly, like-for-like revenue excluding the business management plans to exit nearly doubled YoY to ~₹181 crore. Defence revenue more than doubled to ₹125 crore, while XiDA revenue jumped ~63% to ₹49.5 crore. Then comes the visibility. AXISCADES ended Q1 with ₹4,557 crore of Assured Forecast Visibility for FY27–FY30 — representing programmes where the company has design-won and qualified sole-source or limited-source status. It isn't guaranteed revenue, but it shows the depth of programmes already entering the pipeline. And XiDA is becoming an interesting growth engine. Revenue grew ~63%, while EBITDA jumped 114.5% with a remarkable 29.7% margin. The company is also adding global customers across semiconductor equipment and AI/hyperscale technology. Then comes the bigger optionality: Defence → Aerospace → Space → Electronics → AI AXISCADES is building a satellite manufacturing, assembly, integration and testing facility, while new aerospace and missile-related infrastructure is being developed. Management had earlier indicated a FY27 retained-business revenue trajectory of around ₹1,377 crore, versus ₹903 crore for FY26, implying roughly 52% growth if execution stays on track. The catch? Reported Q1 EBITDA margin was only 8.1%, and the company still carries execution, capex, integration and programme-timing risks. The forecast-visibility number should not be treated as an order book. But the strategic direction is clear: Less low-value engineering. More defence. More electronics. More aerospace. More space. More deep tech.