AXISCADES Q2 & H1 FY27 Results: Retained Revenue Up 55%, Divestment Phase 1 Complete
AXISCADES Technologies reported H1 FY27 retained revenue of ₹378.9 Cr, up 55% YoY. Defence revenue grew 46% to ₹252.7 Cr, and XIDA revenue rose 55% to ₹97.9 Cr. Phase 1 divestment is complete, with Phase 2 expected by February 2027. Legacy assets Add Solutions and Epcogen were written off with a ₹58.3 Cr non-cash charge. Cloud Wave acquisition contributed ₹16.5 Cr revenue in Q2.
The announcement details significant strategic shifts, including divestment completion, write-offs of legacy assets, and strong growth in core business segments. These factors are expected to have a substantial impact on the company's future financial performance and strategic direction.
The company reported significant year-on-year growth in retained revenue and key business segments. The completion of divestment Phase 1 and the strategic decision to write off legacy assets are viewed positively, indicating a clearer path forward and a stronger financial footing.
AXISCADES Technologies Limited has announced its financial results for the quarter and half-year ended September 30, 2026. The company reported a 55% year-on-year increase in retained revenue for H1 FY27, reaching ₹378.9 crore, which now constitutes 54% of the group's total revenue. The Defence and XIDA segments were key contributors, with Defence revenue growing 46% to ₹252.7 crore and XIDA revenue increasing by 55% to ₹97.9 crore.
The company has completed Phase 1 of its strategic divestment, receiving the first tranche of consideration. Phase 2 is now expected to close by February 2027. AXISCADES also addressed legacy non-core assets, writing off Add Solutions and Epcogen with a one-time, non-cash charge of approximately ₹58.3 crore. This move aims to present a cleaner balance sheet for future focus on Defence, XIDA, Aerospace, and Space.
In Q2 FY27, overall revenue grew 20.1% year-on-year to ₹359.1 crore, with the retained business showing a 30% year-on-year increase. The company incurred a non-cash ESOP charge of ₹12.0 crore and transformation-related legal and advisory costs in the quarter. These costs are expected to ease from Q3 FY27 onwards. The acquisition of Cloud Wave was consolidated from Q2, contributing ₹16.5 crore in revenue with a 20.3% EBITDA margin in its first quarter. The company's 'Power 930' plan, targeting ₹9,000 crore in revenue and ₹960 crore in PAT by FY2030, remains on course. Infrastructure development, including the Defence and Aerospace & Space cluster (DAC) at Devanahalli, is progressing, with Phase 1 expected by Q2 FY28 and the aerospace manufacturing campus by Q4 FY28. Space segment revenue is anticipated to begin in FY28.
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