AXISCADES FY26 Revenue up 12.4% to ₹1,159 Crore; EBITDA up 24.6%
AXISCADES reported FY26 revenue of ₹1,159 crore, up 12.4%, and EBITDA of ₹178 crore, up 24.6%, with margins expanding to 15.3%. Normalized PAT increased 27.6% to ₹83 crore. Q4 FY26 revenue grew 2.0% to ₹273 crore but was impacted by ₹142 crore in deferred revenue recognition. The company is strategically divesting its Heavy Engineering, Energy, and Automotive Engineering Services practice.
The results show solid growth in key financial metrics. However, the Q4 impact from deferred revenue and the ongoing strategic restructuring might moderate the immediate market reaction.
The company reported strong year-on-year growth in revenue and EBITDA, along with margin expansion. Despite a Q4 impact from deferred revenue, the overall annual performance and strategic direction are positive.
AXISCADES Technologies Limited announced its audited financial results for the fiscal year ended March 31, 2026. The company reported a 12.4% year-on-year growth in revenue from operations, reaching ₹1,159 crore. EBITDA saw a significant increase of 24.6% to ₹178 crore, with EBITDA margins expanding by approximately 150 basis points to 15.3%. Profit before tax (PBT) grew by 36.5% to ₹125 crore. Reported profit after tax was ₹72 crore, a slight decrease from ₹75 crore in FY25, while normalized PAT stood at ₹83 crore, up 27.6% from ₹65 crore in FY25.
For the fourth quarter of FY26 (Q4 FY26), revenue from operations was ₹273 crore, a 2.0% increase year-on-year. However, Q4 profitability was impacted by a revenue recognition deferment of ₹142 crore due to supply chain interruptions and transaction-specific reasons, affecting defence, strategic electronics, and aerospace contracts. This deferred revenue is expected to be recognized in Q1/Q2 of FY27, with an estimated EBITDA impact of over ₹40 crore.
Strategically, AXISCADES has made progress in sharpening its portfolio, with the planned divestment of its Heavy Engineering, Energy, and Automotive Engineering Services practice to Akkodis. This move aims to focus the company on its core Aerospace, Defence, and ESAI businesses, which now contribute approximately 78% of revenue. The company also secured 27 consolidated design/program wins in FY26 across various domains like radar, electronic warfare, and missile systems.
AXISCADES continued to build its physical infrastructure, including the Devanahalli Atmanirbhar Complex and the Missile Atmanirbhar Complex in Hyderabad, to support its growth in manufacturing, testing, and integration. The company is also enhancing its deep-tech platform and building its space business.
Dr. Sampath Ravinarayanan, Founder, Chairman, and Managing Director, stated that FY26 was a consequential year of strategic transformation, focusing the company on aerospace, defence, space, and Deep-tech/AI. Shashidhar SK, Group CFO, highlighted the strong scale and operating profitability in FY26, acknowledging the Q4 impact from programme timing and supply chain issues. The company enters FY27 with a sharper portfolio and a focus on disciplined execution.
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