The shares of the leading technology and engineering solutions provider gained around 10 percent to an all-time high price of Rs 848 per share after the company launched QIP to raise funds.
At 11:30 a.m., Axiscades Technology Ltd shares were trading at Rs 842.05 per share, up 8.98 percent from the previous close price on the exchange. The company has a market capitalization of Rs 3,238 crore.
As per reports, the company has launched a qualified institutional placement (QIP) issue to raise to Rs 500 crore. The company board has set the floor price for the issue at Rs 696.70, a discount of 9.9 percent from its previous close on the National Stock Exchange (NSE).
The company’s revenue has increased by 28 percent yearly, from Rs 196 crore in Q2FY22 to Rs 252 crore in Q2FY23. During the same timeframe, Net profit has decreased by 47 percent from Rs 21 crore to Rs 11 crore.
Axiscades Technologies shares have gained 73 percent in the last six months and delivered a multibagger return of 168 percent in a year. A shareholder investment of Rs 1 lakh in the company would be worth Rs 2.68 lakhs in a year.
Axiscades Technologies Limited is a technology solutions company focussing on engineering solutions and services. The company offers services including Digital Services, Manufacturing Engineering, PLM, Mechanical Engineering, Tools Design and development, Test Solutions etc.
In the second quarter, the company’s overall revenue grew by 29.8% Y-o-Y, majorly driven by increased traction mainly in our newer vertical Automotive and Energy and increased wallet share in existing vertical Aerospace and Products and Solutions.
In the September quarter of FY24, the company signed a strategic partnership with Cantier, a Singapore-based powerhouse in Manufacturing Execution Systems (MES), with a specialization in Industry 4.0 integration to create a synergy that promises to elevate precision, efficiency, and innovation in the manufacturing sector.
Written by Omkar Chitnis
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