Small Cap stock engaged in providing end-to-end engineering and technology solutions across industries like aerospace, defence, heavy engineering, automotive, medical devices, and others jumped 8 percent in the day’s trade upon the commencement of delivery of Advanced Counter Drone Systems to the Indian Army.
With a market capitalization of Rs. 2,097 Crores, the shares of Axiscades Technologies Limited were trading at Rs. 500.35 per equity share, up 4.50 percent from its previous day’s close price of Rs. 478.80.
Axiscades Technologies Limited announced the commencement of delivery of a significant number of Advanced Counter Drone Systems i.e., first-of-its-kind Man Portable Counter Drone Systems (MPCDS) to the Indian Army under a Landmark Order of Rs.100 Crores from the Indian Army.
The Man Portable Counter Drone System (MPCDS), developed by Axiscades, is Uniquely designed and entirely Made in India, the MPCDS is compact, portable, and operates on both battery and mains power. Covering multiple frequency spectrums, including Command & Control and Navigation, the system holds the ability to detect and jam a wide variety of drones within a range of up to 5 kilometers.
This contract marks a major milestone for Axiscades Technologies Limited, as the company begins the delivery of these systems, which are the first of their kind to be inducted into the Indian Defence Forces.
The Indian Ministry of Defence and Defence Forces have outlined plans to enhance their Counter Unmanned Aerial Vehicle (UAV) capabilities through multiple tenders, including emergency procurements, with an estimated addressable opportunity of Rs. 3,000 crores within India alone over the next five years.
Axiscades Technologies Limited remains a key player at the forefront of this initiative, with the company strengthening its Counter-Unmanned Aerial Vehicle (C-UAV) offerings with integrated sensors and neutralization options, solidifying its position to capture both domestic and global market opportunities.
Axiscades Technologies Limited is an end-to-end engineering and technology solutions provider solutions across embedded software and hardware, digitization and automation, mechanical engineering, system integration, test solutions, and many more
Its portfolio covers the complete product development lifecycle from concept evaluation to manufacturing in various industries like aerospace, defence, heavy engineering, automotive, medical devices, and industrial product industries.
Axiscades Technologies Limited has long term relationships with Defence Forces, MoD, Defence Labs, and PSUs along with global OEMs. It is a Designated Offset partner to global OEMs in various Aerospace and Defence programs. It possesses deep domain experience in Avionics, Electronic Warfare, C4I2, Radars, Drones, Anti-Drone Systems, Test Solutions, and Ground support equipment.
Its Revenue grew by 14.52 percent from Rs. 223.24 Crores in Q4FY23 to Rs. 255.65 Crores in Q4FY24, accompanied by profits of Rs. 16.04 Crores to Rs. 8.99 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 7.11 percent and a return on capital employed (ROCE) of 13.7 percent. It has a debt-to-equity ratio of 0.54.
Written by: Bharath K.S
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