Rs 90 Crore Order Received by Axiscades from BEL

Axiscades Technologies is at the top of the game in delivering end-to-end technology and engineering solutions, contributing to innovative, sustainable and safer products globally. With its headquarters in Bangalore, the firm has a global presence with branches in the USA, UK, Canada, Germany, India, and China while there are offices located also in Germany, France, Denmark, USA, and Canada.

Complete Engineering Solution

The company offers a wide array of product engineering solutions which include:

Embedded Software and Hardware

Digitization and Automation

Mechanical Engineering

System Integration

Test Solutions

Manufacturing Engineering

Technical Publications

Aftermarket Solutions

They have a complete portfolio that supports their clients across the full lifecycle from concept evaluation through manufacturing support right up to certification for Fortune 500 companies in industries such as Aerospace & Defence, Heavy Engineering, Automotive & Medical Devices, and Industrial Products.

Market Performance And Key Announcements

On Monday, Axiscades Technologies’ stock was trading at 515.80 per share on the NSE, higher by 0.80%. The day’s trading volume outperformed previous sessions due to a major announcement by the company.

Major Order from Bharat Electronics (BEL)

Mistral Solutions – Axiscades subsidiary – leading embedded design and system engineering company secured a significant order from Bharat Electronics Limited (BEL), a premier aerospace and defense electronics company owned by Govt of India. This order is valued at Rs.90 crore involving the design development supply of eight Radar Processing Systems for Arudhra Medium Powered Radar (MPR). These systems will be developed within four years thus signifying an important milestone under Mistral’s collaboration with DRDO launched in 2012 for developing an indigenous radar system.

The MPR is capable of automatically detecting and tracking aerial targets rotating active phased array multifunction 4D Radar that vary from slow-moving objects like ships to combat aircraft.

Financial Performance In FY24

For FY24 Axiscades reported 17% revenue growth, helped by a 21% increase in engineering services particularly from the Aerospace, Automotive, and Energy sectors. The defence production revenues tripled with the certified prototypes pipeline continuing to expand.

Financial Highlights

During the year, the confirmed order book increased by 27% to Rs 749 crore as against Rs 589 crore at the beginning of the year.

Net borrowing was down 60 per cent from Rs 214 crore to Rs 85 crore leading to reduction in finance cost.

But stock experienced profit booking in May as it traded lower by 19% for the month.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.