The stock of Axiscades Technologies Ltd. has gained 19.77% in the past five days. It hit a fresh 52-week high of ₹ 303.70 per share on Thursday’s early trades. The present price level gives the Bangalore-headquartered company a market cap of Rs. 1,084 crores making it a small-cap company.
Axiscades Technologies is a leading product and engineering solutions company catering to the aerospace, automotive, defence, energy and medical devices industries. It has a global presence with its clients spread across North America, Europe, China and India.
The stock of Axiscades Technologies has given a multi-bagger return of 253.33% over the last year. Its shares have rallied from ₹ 81.10 a piece 12 months ago to ₹ 303.70.
A sum of ₹ 1,00,000 invested a year ago would have become ₹ 3,53,330 by now. This would have resulted in multi-bagger gains of ₹ 2,53,330.
Axiscades delivered strong EPS growth in FY22 on the back of the resolution of supply chain issues, improved operation efficiencies, and better working capital management. In Q1FY23, the company’s strategic technology solutions segment clocked an impressive 394.2% year-on-year growth.
Investors seem to be bullish on the stock because of its healthy order book, strong pipeline, and positive industry indicators.
Commenting on the position of the company, Mr Arun Krishnamurthi, CEO & MD of Axiscades Technologies said, “We serve a diversified portfolio of clients who are the market leaders in their industries. We are a strategic partner to Top 3 of 10 OEMs in commercial aircraft with increased traction in aerospace clients from Europe. We have also been the preferred partners for defence offsets contracts which are further propelled by the government’s push for defence modernization.”
– Written by Vikalp Mishra
