AXISCADES reports Rs 14.76 cr Q1 loss despite operating profit
Interest and depreciation exceeded operating profit, while Aerospace reported a Rs 6.2 cr EBITDA loss during its build phase.
Filed 13 Aug 2026, 15:39 IST · after market close · AXISCADES Technologies Ltd (AXISCADES)
Key takeaways
- Consolidated Q1FY27 ended in a Rs 14.76 cr net loss after interest of Rs 8.87 cr and depreciation of Rs 8.75 cr consumed operating profit.
- Operating margin at 4.74% was 9.68 percentage points below the Industrials median across 138 reported peers.
- Management said Aerospace posted Rs 6.1 cr of revenue and a Rs 6.2 cr EBITDA loss during its build phase, while guiding to Rs 1,377 cr of FY27 continuing-operations revenue.
Price around the results
Interest and depreciation push operating profit into a loss
AXISCADES reported consolidated operating profit of Rs 8.69 cr, but interest of Rs 8.87 cr and depreciation of Rs 8.75 cr more than absorbed it, taking profit before tax to a loss of Rs 6.45 cr. Other income of Rs 2.49 cr did not offset the operating costs below that line. A tax charge of Rs 0.61 cr further widened the net loss to Rs 14.76 cr.
Aerospace remains in its build phase
The company said Aerospace generated Rs 6.1 cr of quarterly revenue against an EBITDA loss of Rs 6.2 cr during its build phase. Management said it expects to regain Rs 74 cr of divested aerospace EBITDA on a proforma annualised basis in FY27. The company also said its radar hangar facility at DAC is scheduled to be phased into operation by Q1FY28.
Margin trails the Industrials peer group
AXISCADES's 4.74% operating margin was 9.68 percentage points below the 14.42% median for the 138 Industrials companies that had reported the same quarter. It ranked 11th from the bottom on this measure. Management guided to Rs 270 cr of FY27 EBITDA on a proforma annualised basis and said Defence is expected to deliver 75% year-on-year growth in FY27 and subsequent years.
Results came after market close
The consolidated results were filed after market close on 13 August 2026. The immediate stock response is therefore not yet part of this results read-through.
Q1FY27 at a glance
Consolidated figures as filed with NSE — cross-checked against an independent source.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹183 cr |
| Other income | ₹2 cr |
| Expenses | ₹175 cr |
| Operating profit | ₹9 cr |
| Operating margin (%) | 4.74% |
| Interest | ₹9 cr |
| Depreciation | ₹9 cr |
| Profit before tax | ₹-6 cr |
| Tax | ₹1 cr |
| Net profit | ₹-15 cr |
| EPS (₹) | ₹-3.49 |
Operating margin of 4.74% compares with a Industrials sector median of 14.42% across 138 peers that have reported Q1FY27.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
Guidance & outlook
- The company expects to regain Rs 74 crore of divested aerospace EBITDA on a proforma annualised basis in FY27.
- The company guides to Rs 1,377 crore of FY27 revenue from continuing operations.
- The company guides to Rs 270 crore of FY27 EBITDA on a proforma annualised basis.
- Defence is expected to deliver 75% year-on-year growth in FY27 and subsequent years.
- XiDA is expected to deliver more than 100% year-on-year growth from FY27.
Expansion
- The radar hangar facility at DAC will be phased into operation by Q1 FY28.
- The company plans a 240,000 sq ft quad-use CAM facility on a 20-acre plot at Devanahalli.
Problems & risks
- Aerospace reported Rs 6.1 crore of quarterly revenue against an EBITDA loss of Rs 6.2 crore during its build phase.
What to watch
- Whether Aerospace's quarterly revenue moves beyond Rs 6.1 cr while its EBITDA loss narrows from Rs 6.2 cr.
- Whether operating margin moves closer to the 14.42% Industrials peer median.
- Progress against management's FY27 continuing-operations revenue guide of Rs 1,377 cr.