BPO/KPO company AXISCADES Technologies announced Q1FY25 results: Financial Highlights: Revenue from Operations of Rs 223 crore for the quarter; grew by 4.5% YoY Revenue in USD terms for the quarter stood at USD 26.9 million; growing 2.5% YoY Total order book for the company stood at USD 83.2 million EBITDA for the quarter at Rs 31 crore; as compared to Q1’24 at Rs 33 crore EBITDA Margins higher at 13.9%; as against 12.6% in Q4 FY24 PAT stood at Rs 17 crore with PAT margin of 7.2% for the quarter, as against Rs 6 crore / 2.6% in Q1 FY24 Business Highlights: Mistral Solutions received order of Rs 90 crore from BEL for supplying Radar Processing Systems Ramp up in aerospace with European OEM focused on production and plant migration efforts Ramp up in high end cybersecurity solutioning with UK automotive manufacturer. All our digital investments from FY24 are starting to realise into higher revenue & profitability this year Onboarded an EPC major from Middle East as our customer with long term contract Completed second tranche of delivery of Man Portable Counter Drone System (MPCDS) to the Indian Army Commenting on the results and outlook, Arun Krishnamurthi, CEO & MD of AXISCADES said, “We are pleased to report a strong start to FY25, highlighted by noteworthy business performance in Q1FY25, in the face of macro challenges in certain verticals and lumpiness in Defence. The Company’s YOY revenue grew by 4.5% to Rs 223 crore with EBITDA of Rs 31 crore and PAT of Rs 17 crore. The revenue growth was driven by a 15% YoY increase in Engineering Services, led by Aerospace, Automotive, and Energy Verticals. Defence production revenues grew 73% YOY, with a strong order book for execution in FY25. Overall, the company performed well in Q1, across most verticals, with the exception of Heavy Engineering and PES, where macroeconomic challenges persist. We are focused on overcoming the challenges in certain verticals and are confident of delivering to our company’s plan for the full year FY25 and will continue to strengthen the business for sustainable growth and profitability.” Result PDF
BPO/KPO company AXISCADES Technologies announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue from Operations of Rs 256 crore for the quarter; grew by 14% YoY Revenue in USD terms for the quarter stood at USD 31 million; growth of 11% YoY EBITDA for the quarter at Rs 32 crore; grew by 3% YoY, grew by 11% QoQ EBIDTA Margins stood at 12.7%; as against 12.6% in Q3FY24 and 13.9% in Q4FY23 PAT stood at Rs 9 crore with PAT margin of 3.4% in the quarter, as against Rs 8 crore in Q3FY24 (3.2%) and Rs 16.04 crore in Q4FY23 (7.1%) FY24 Financial Highlights: Revenue from Operations of Rs 952 crore for the year; grew by 17% YoY Revenue in USD terms for the year stood at USD 116 million; growth of 14% YoY EBITDA for the year at Rs 130 crore as against normalized EBITDA of Rs 124 crore in FY23 ; grew by 5% YoY. EBITDA Margins stood at 13.7%; as against normalized EBITDA margin of 15.3% in FY23 Profit after Tax at Rs 33 crore, as against PAT Loss of Rs 4.8 crore in FY23 PAT Margins for the year stood at 3% as compared to -0.6% in FY23 Commenting on the performance, Abidali Neemuchwala, Chairman of AXISCADES said, “FY2024 was another landmark year for the Company, in its journey to be at the forefront of best-in-class engineering and technology solutions, and at the same time, deliver a sustainable and profitable business performance to all its stakeholders. I am pleased to report that, at the end of FY2024, the Company stands much stronger, with its foray into new verticals, new acquisitions, new competencies, and a much stronger customer base. Our defense business is gaining strength, and our production revenues from defense reached record run in FY24 and will continue to accelerate in the coming years. The equity base stands enhanced, borrowings significantly reduced and the robust balance sheet and cash reserves, allows us much head-room to invest in people, technology, competencies, R&D; labs and business growth. While we are conscious of the global macroeconomic challenges and uncertainties, we are entering the new financial year, with renewed vigor, confidence and commitment for growth, and are well positioned to navigate the exciting pipeline of opportunities, ahead of us.” Result PDF
BPO/KPO firm AXISCADES Technologies announced Q1FY24 results: Revenue of Rs 2,136 million in Q1FY24 compared to Rs 1,833 million in Q1FY23, up 17% YoY EBITDA of Rs 330 million in Q1FY24 compared ot Rs 227 million in Q1FY23, up 45% YoY EBITDA Margin of 15.4% in Q1FY24 compared to 12.4% in Q1FY23, up 300 bps YoY PAT of Rs 57 million in Q1FY24 comapred to Rs (317) crore in Q1FY23 Commenting on the performance, David Bradley, Chairman, AXISCADES said, “We have started the fiscal year 2024 on firm footing, recording revenue growth of 17% and EBITDA growth by 45% Year on Year. The recent acquisition of add solution GmbH will give us access to global OEMs and help us expand our product offerings to the automotive industry. Over the past few years, we have acquired businesses that have helped us to expand into new segments and grow our market share. These acquisitions have been accretive to our earnings and have helped us to achieve our long-term growth goals. A strategic refinancing of our long-term debt will allow us to invest more in our growth initiatives and further expand our bottom line. We have a strong, growing team in place that is focused on executing our growth strategy to generate value for all stakeholders.” Commenting on the results and outlook, Arun Krishnamurthi, CEO & MD, AXISCADES said, “We are building upon the strong momentum generated in FY23. Fiscal 2024 has started with two key achievements, a cross-border acquisition of add solution GmbH and the refinancing of our debt. We believe that the acquisition will be a significant driver of growth for our automotive business. The refinancing will lower our interest costs, and optimize our capital structure, resulting in a robust balance sheet. During the quarter, we saw remarkably higher contributions from the Aerospace vertical and we continued to gain wallet share from our clients in the defense sector, adding significantly to our topline. Our new businesses win continue to show positive momentum. We are excited about the opportunities that lie ahead of us and aim to execute our objectives further aided by increased financial flexibility and create value for all stakeholders.” Result PDF
BPO/KPO company AXISCADES Technologies announced Q2FY23 results: Q2FY23: Revenue up 43% to Rs 1,937 million EBITDA up 238% to Rs 374 million PAT up 660% to Rs 211 million H1 FY23: Revenue up 53% to Rs 3,769 million EBITDA up 180% to Rs 601 million Adjusted PAT up 723% to Rs 338 million David Bradley, Chairman of AXISCADES, said: “We are happy to consistently raise the bar with our performance in FY23. Our focus remains on generating growth while also driving profitability. I am proud of the team’s consistent efforts to execute at the highest level. This is well appreciated by our clients, and we are looking to exploiting cross selling opportunities to increase wallet share. I am convinced about the capability of India to be the leading provider of engineering solutions to global industries. AXISCADES is in a prime position to capture the opportunities and aims to generate value over the long term for all stakeholders.” Arun Krishnamurthi, CEO & MD of AXISCADES, said “We are proud to have delivered a stellar performance registering a strong growth in revenue while generating substantially high profit. The future of automotive technologies is fascinating as vehicles get increasingly feature-rich. We are positioning ourselves to become a preferred partner in the space and are happy to announce the signing of a long-term deal with another Tier-1 global automotive major. Despite global headwinds across multiple sectors, our relentless efforts are paying off with robust growth across all our verticals. Strategic initiatives are in place to integrate and unlock the tremendous potential of Mistral Solutions in the field of defence and embedded technologies. We are focused in our approach to be a reliable, leading-edge technology solutions provider helping our clients to optimise their processes.” Result PDF