The Fact Maker

AXISCADES Delivers Another Quarter of Strong and Consistent Results

New Delhi: AXISCADES Technologies Ltd. [AXISCADES (BSE: 532395 | NSE: AXISCADES], a leading end to end engineering and technology solution catering to the aerospace, defence, heavy engineering, automotive, energy, medical & healthcare sectors, serving Global OEMs, today announced results for the third quarter of FY 2021-22 ended December 31, 2021.

Financial highlights for the quarter:

•                Q3 FY22 Total Income at INR 1,702 Mn against INR 1,388 Mn in Q2 FY22

•                EBITDA stands at INR 201 Mn, translating to an EBITDA margin of 11.82%

•                PAT for Q3 FY22 stands at INR 79 Mn; growth of 185.7% Q-o-Q

•                Strong revenue addition in Aerospace; grew by 18.1% Q-o-Q

•                Strong order book of USD 57.0 Mn as of 31st Dec-2021, growth of 32.7% Q-o-Q

Commenting on the performance, Mr. David Bradley, Chairman of AXISCADES said: “The performance for Q3 has been very encouraging. This is the second consecutive quarter, where the Company delivered strong revenue growth of 20%+ Q-o-Q. This growth was backed by strong traction in the Product and solutions vertical and improved outlook in the Aerospace vertical. Our EBITDA stands at INR 201 Mn at 11.82% improved by 116 bps Q-o-Q. We are hopeful of continuing the good growth next quarter also. During the quarter, the company has secured a multi-year contract renewal from Airbus and has been recognized as a preferred supplier to Airbus EMES3. I am also glad to announce the appointment of Arun Krishnamurthi as MD & CEO and Shashidhar SK as Chief Financial Officer (CFO). I am confident that under the leadership of newly appointed management, the company will strengthen the current position and make the focused investments that augment the company’s capabilities, ensuring strategically oriented differentiation in the market.”

Commenting on the results and outlook, Mr. Arun Krishnamurthi, CEO & MD of AXISCADES said “The performance for Q3 was inline with expectation. During the quarter we added 5 new strategic clients, all of which have potential to grow. Our strategy is to pivot AXISCADES to a digital first company with focus on Embedded software, AI / ML, PLM on the cloud and Industry 4.0. We are looking at strengthening the relationships with our existing clients and partner with them to innovate on new frameworks and solutions. As has been consistently demonstrated, AXISCADES has significant strengths in Aerospace and Heavy Engineering. Our focus will be on growing these areas as well as diversifying into other sectors which offer strong potential in the engineering space.”

Performance Highlights

(All Numbers in INR Millions except % data)

Particulars (INR Mn)Q3 FY21Q2 FY22Q3 FY22Q-o-QY-o-Y
Total Income1,2851,3881,70222.6%32.5%
EBITDA Margin16.1%10.7%11.8%116-425

(All Numbers in USD Millions except % data)

Particulars (USD Mn)Q3 FY21Q2 FY22Q3 FY22Q-o-QY-o-Y
Total Income17.418.822.821.5%31.4%
EBITDA Margin16.1%10.7%11.8%116-425
Average Exchange Rate ( $/₹)74.073.974.6  

Key Operational Highlights

·       Added 1new customer in Automotive and 4 in Heavy Engineering vertical

·       Secured a multi-year contract renewal from Airbus and have been recognized as a preferred supplier to Airbus EMES3

·       Received new orders for the Strategic Technology Solutions vertical

·       Appointed Arun Krishnamurthi as MD & CEO and Shashidhar SK as CFO

·       During the quarter, Jupiter Capital, promoter company, has significantly reduced equity shares pledged with Company’s bankers. Currently equity shares pledged constitutes 16.17% of total shareholding compared to pledge shares of 46.17% of total shareholding in last quarter.