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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹343.18 Cr
verified against source
Revenue YoY
25%
reported change
EBITDA
₹63 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
AXISCADES delivered a strong Q3 FY26 with revenue of 343 crores (+25% YoY) and EBITDA of 63 crores (+55% YoY), achieving a record EBITDA margin of 18.3% (+360bps YoY). PAT grew 87% YoY to 28 crores (adjusted PAT 35 crores). Growth was driven by aerospace, defense, and ESI segments (78% of revenue) which grew 36% YoY. The product/solutions mix improved to 39:61, and the company maintained its guidance of 40-50% EPS growth for FY26 and FY27. Management highlighted a robust pipeline of ~14,000 crores and expects to close FY26 with over 1,000 crores in core revenue. Key risks include execution dependency on new facilities (DAL, MAC) and potential delays in large MOD orders.
Colored figures show movement against the previous available record.
Guidance to track
- Management reiterated 40%+ growth in core domains for FY26, expecting to cross 1,000 crores in core revenue.
- EPS growth target of 40-50% for FY27, with management confident of achieving 25-26 EPS in FY26.
- Management guided for EBITDA margin of 20% in FY27, up from ~17% expected in FY26.
- Target to achieve 80% revenue from products/solutions and 20% from services by FY27.
Risks flagged
- Management expects to complete divestment of non-core business by March end, but any delay could impact focus and capital allocation.
- New facilities (DAL, MAC, radar complex) are critical for growth but may face certification or ramp-up delays, pushing revenue to FY28.
- Analyst raised concern about ESOP costs increasing in FY27; management did not provide specific numbers, indicating potential margin headwind.
- Large MOD orders are unpredictable with ~50% conversion rate; management acknowledged 'roll of the dice' nature, posing revenue visibility risk.
Key quotes
- We are firmly on track to complete the FY26 as planned as projected and we also laid the foundation very clearly for FY27. I'm confident of achieving the results.
- Our growth domains aerospace, defense, and DI constituting 78% of our total revenue continue to demonstrate significant momentum growing at 36% year-on-year.
- We are working with the world's largest AI company or one of the most prestigious AI company for bidding some of the AI based complete drone management systems... each orders are big multi,000 cr orders.
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