Synopsis: Small-cap defence company’s shares are in focus today after analysing revenue segment-wise.
A small-cap company that is a technology solutions company focusing on engineering solutions and services is in the spotlight after analysing which segment contributes more revenue and profit to the company. Read the article below for detailed insights.
With a market capitalization of Rs. 6,287.78 crore, the shares of AXISCADES Technologies Limited closed at Rs. 1,478.90 on Friday, down by 2.25 percent from its previous closing price of Rs. 1,512.90 per equity share.
Major Revenue-Contributing Segment
Out of the total revenue generated in Q2FY26, the Defence segment remained the largest contributor at Rs. 113.64 crore, accounting for 38 percent of total revenue. This was followed by Aerospace, which delivered Rs. 89.72 crore (30 percent). The HE & Auto division added Rs. 53.83 crore (18 percent), while ESAI contributed Rs. 32.90 crore (11 percent). The Energy segment reported Rs. 11.96 crore, forming 4 percent of the overall revenue.
Q2FY26 Results
The company reported Rs. 299.06 crore in revenue for the second quarter of FY26, a 12.97 percent increase over Rs. 264.72 crore for the same period in FY25. It increased by 22.72 percent as compared to Rs. 243.71 crore in Q1 FY26.
The company’s EBITDA for Q2 FY26 stood at Rs. 47.09 crore, increasing by 38.26 percent from Rs. 34.06 crore in Q1 FY26, but inclined by 41.46 percent from Rs. 33.29 crore in Q2 FY25.
The consolidated net profit for the second quarter of FY26 was Rs. 23.13 crore, which was 10.89 percent higher than the Rs. 20.86 crore reported in the previous quarter and increased by 88.82 percent from Rs. 12.25 crore in Q2 FY25. Profit growth was also reflected in earnings per share (EPS), which increased to approximately Rs. 5.42 in Q2 FY26 from Rs. 2.93 in Q2 FY25.
Revenue Guidance
The company reaffirmed its “Power930” ambition, targeting Rs 9,000 crore (~$1 billion) in revenue by 2030. This reflects Axiscades’ focus on long-term strategic growth and market expansion across key sectors.
Capital Expenditure (Capex) Plans
For FY26, Phase-I will involve Rs 150–180 crore, with some spending extending into FY27. Axiscades has outlined a multi-phase capital expenditure plan totaling around Rs 1,500 crore, including its Hyderabad facility. Over the next three years, the company will additionally invest Rs 1,100–1,200 crore under its DAC programme, distributed across three phases, about Rs 150 crore in Phase-I, Rs 450 crore in Phase-II, and the remaining balance in Phase-III. These investments are designed to strengthen infrastructure, boost operational capabilities, and support Axiscades’ long-term growth and revenue ambitions.
About the company
AXISCADES Technologies Limited is a Bengaluru-based engineering solutions company serving clients across Europe, the US, Asia-Pacific, and Canada. It operates through Technology Services & Solutions and Strategic Technology Solutions.
The company provides end-to-end engineering services including product design, embedded systems, avionics, systems engineering, manufacturing engineering, PLM, and aftermarket support. It also develops advanced defence and aerospace technologies such as avionics units, radar/sonar processors, electro-optical systems, telemetry modules, flight control and mission computers, simulators, electronic control units, and DSP systems.
AXISCADES offers electronic warfare systems, drones (heavy-payload, armed, tethered, and anti-drone), mission-critical communications, homeland security solutions, rugged computing hardware, signal-processing engines, and development tools.
The firm further delivers semiconductor design support, hyperscaler collaborations, radar modules, and AI-powered robotics/ADAS solutions. It serves industries including aerospace, defence, homeland security, automotive, heavy engineering, electronics, energy, semiconductors, and medical devices.
A return on equity (ROE) of about 12.7 percent, a return on capital employed (ROCE) of about 13.8 percent and a debt to equity ratio of 0.37 demonstrate the company’s financial position. At the moment, the company’s P/E ratio is xxx lower as compared to its industry P/E xxx.
Written By Akshay Sanghavi
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