Q1 2027 Axiscades Technologies Ltd Earnings Call Transcript
Key Points
- Record consolidated revenue of Rs 346 crore, up 42% YoY and 27% sequentially, with continuing operations growing 94% YoY to Rs 183 crore.
- Defense business delivered record revenue of Rs 125 crore, up 112% YoY, with underlying EBITDA of Rs 13 crore and assured forecast visibility of Rs 4,557 crore.
- Zeda (eSci) business posted strong revenue of Rs 49.5 crore, up 63% YoY, with a 33% EBITDA margin and added two marquee global technology customers.
- Divestment of engineering and aerospace services is on track, with expected proceeds of Rs 920 crore and an extraordinary gain of Rs 1,255 crore to be recorded, funding growth without equity dilution.
- Aerospace manufacturing strategy is advancing with a planned acquisition targeting Rs 180 crore revenue and 22% EBIT margin, plus a new 240,000 sq ft manufacturing facility.
- Normalized EBITDA for continuing operations was Rs 41 crore (11.8% margin), and normalized PAT was Rs 20.2 crore, indicating underlying profitability despite transition costs.
- Cash balance rose 78% to Rs 81 crore, and property, plant, and equipment increased by Rs 40 crore, reflecting capacity building for future growth.
- Reported net loss of Rs 14.8 crore due to one-time costs including Rs 13.1 crore provisions and Rs 21.81 crore transaction costs related to divestment.
- Continuing operations (excluding Zeda) do not yet cover finance costs of Rs 8.9 crore and depreciation of Rs 8.8 crore, leading to a loss at the operating level.
- ADD Solutions, a non-core European unit, recorded an EBITDA loss of Rs 4.8 crore and a PAT loss of Rs 6.7 crore, dragging overall profitability.
- Aerospace manufacturing business is still in investment phase with negative EBITDA, reflecting front-loaded costs for leadership and capabilities.
- Revenue deferral of Rs 140 crore from FY26 is only partially recovered (40% in Q1), with the balance expected in Q2 and Q3, creating near-term uncertainty.
- The company faces execution risks in closing multiple acquisitions and divestments on schedule, which are critical to meeting FY27 guidance.
- High dependence on debt and bridge financing (up to Rs 250 crore) to fund CapEx before divestment proceeds are fully received.
Good evening, everybody. Welcome to Access CADIS Technologies Limited Q1 FY 27 Earnings Webinar produced by Elavis. So, I'm Shakini. I'm the Director of Investor Relations at Dickinson, and I'll be moderating our call today.
So joining us from the AccessCADIS management team is the senior management group. I'll hand over to Mukund later to introduce the members who will be on the call today.
To all our participants, please note that this conference is being recorded and that some statements in this call may be forward-looking based on current expectations and subject to risks that could cause results to differ materially.
You can download the AccessCADIS investor deck and press release from the company website or the NSC.
I'll now hand over to Mukund. He is the Chief Strategy and Growth Officer and Head of IR from the AccessCADIS management team. I'll hand over to him for opening remarks. Over to you, Mukund.
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