Synopsis:
AXISCADES’ subsidiary Mistral Solutions won a CASDIC contract to develop ECUs for Su-30MKI upgrades, with prototype orders leading to potential 600-unit production worth Rs. 150 crore over five years.
Shares of a chip to product company and a pioneer in Defence, Electronics, Semiconductor and Artificial Intelligence (ESAI) applications moved up by around 5 percent on Monday, after securing an order worth Rs. 150 crores from Combat Aircraft Systems Development & Integration Centre (CASDIC), DRDO, Ministry of Defence.
At 10:50 a.m., the shares of AXISCADES Technologies Limited were trading in the green at Rs. 1,277.2 on BSE, up by around 3 percent, as against its previous closing price of Rs. 1,244.3, with a market cap of Rs. 5,428 crores. The stock has delivered positive returns of about 93 percent in the last one year, and has gained by over 83 percent in the last six months.
What’s the News
According to its latest regulatory filings with the stock exchanges, AXISCADES Technologies Limited announced that its subsidiary, Mistral Solutions, has secured a major order to supply Electronic Control Units (ECUs) for the Su-30MKI “Super-30” modernisation program.
Mistral Solutions received this development contract from the Combat Aircraft Systems Development & Integration Centre (CASDIC), DRDO, Ministry of Defence, for the design and development of 10 nos. of ECUs for the cooling system in the Su-30MKI fighter jets.
The contract, awarded for prototype development, is expected to pave the way for a large-scale production order of ~600 units, valued at around Rs. 150 crore with a development cost estimated at Rs. 3 crore, and to be executed over the next five years. The design and development phase will take about 18 months, with production expected to span 3-5 years.
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Financials and more
AXISCADES Tech reported a marginal growth in its revenue from operations, showing a year-on-year increase of around 9 percent from Rs. 224 crores in Q1 FY25 to Rs. 244 crores in Q1 FY26. Similarly, its net profit increased during the same period from Rs. 17 crores to Rs. 21 crores, representing a rise of about 25 percent YoY.
The company currently has an order book of Rs. 1,800 crore, with Rs. 1,260 crore allocated for execution in FY26. For FY27, the order book is projected at Rs. 1,827 crore, taking the combined order book and forecast visibility to around Rs. 3,087 crore.
For FY26, the company has guided for around 25 percent revenue growth, covering both core and non-core verticals, along with a 300 basis points improvement in EBITDA compared to the previous year. The growth will be primarily driven by performance in the core businesses.
The company has set a target of achieving over 40 percent CAGR in revenue growth across its core verticals, targeting an EBITDA margin of around 19.5 percent by FY28.
The company remains on track with facilities and infrastructure development required to deliver on its “Power 930” strategy, which aims to achieve Rs. 9,000 crore ($1 billion) in revenue by 2030.
AXISCADES Technologies Limited is a leading technology solutions provider, catering to companies in diverse industries, such as aerospace, defence & homeland security, automotive, heavy engineering, industrial products, energy, semiconductor and medical & healthcare. It is a leading provider of deep tech and engineering services with a focus on aerospace, defence and ESAI (Electronics, Semiconductors and AI).
AXISCADES possesses deep domain experience in weapon systems, avionics, radar, electronic warfare, C4I2, drones, anti-drone systems, test solutions, GSE and GHE.
Written by Shivani Singh
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