Ever met that one uncle who swears his “next big project” will make him a billionaire by 2030? AXISCADES just pulled the same move, calling it Power 930—₹9,000 crore revenue dream. Meanwhile, Q1 was “lean” (read: snoozy) with single-digit topline growth, but management insists the real action starts in H2 when defense orders fire up. They even dropped Apple and Amazon’s names for effect, because why not? Spoiler: profits exist, but the billion-dollar swag is still a powerpoint slide. Read on—because this aerospace-to-defense engineering play has more drama than a Bollywood Republic Day release.
2. At a Glance
Revenue ₹244 Cr (+9% YoY) – Management calls it healthy, analysts call it meh.
EBITDA ₹34 Cr (+9% YoY) – Margins 14%, same as last year, but hey, they “normalized” to show 86% growth.
PAT ₹21 Cr (+25% YoY) – At least the bottom line isn’t in defense mode.
Non-core revenue down 9% – Cars and energy said, “not today.”
Order Book ₹3,087 Cr – Management flexes visibility like it’s an Instagram reel.
3. Management’s Key Commentary
Quote: “We are targeting 40% growth this year, backed by ₹3,087 crore visibility.” (Translation: We’ve got the ingredients, but still waiting for the stove to heat up.)
Quote: “Power 930 will make us a $1 billion company by 2030.” (Translation: Dreaming big is free, execution not so much.)
Quote: “MBDA and Indra partnerships give us annuity revenue and tech edge.” (Translation: Our resume finally has brand names recruiters recognize.)
Quote: “Normalized EBITDA margins rose from 8.2% to 14%.” (Translation: Ignore last year’s accounting gymnastics, look how fit we look now!)
Quote: “Non-core business declined but turned marginally profitable.” (Translation: Deadweight still alive, but at least not bleeding cash.)
Quote: “We see ESAI margins at 22–23%, defense 19%, aerospace 16%.” (Translation: Some verticals are money-spinners, others just pay the rent.)
4. Numbers Decoded
Metric
Value (Q1 FY26)
YoY Change
One-Line Analysis
Revenue – The Slow Burner
₹244 Cr
+9%
Single-digit growth, but “H2 is coming.”
EBITDA – The Show-Off
₹34 Cr
+9%
14% margin steady; normalized story looks juicier.
PAT – The Survivor
₹21 Cr
+25%
At least profits grew faster than revenue.
Core Revenue – The Hero
₹182 Cr
+17%
Defense + ESAI carried the squad.
Non-Core – The Embarrassment
₹62 Cr
-9%
Cars/energy dragged like a bad sequel.
Order Book – The Flex
₹3,087 Cr
Strong
Visibility is half the battle, execution is the other half.
Margins shine in core, diluted by “why-are-we-still-doing-this” non-core.
