AXISCADES / Q3-FY26 / claim-ledger

Audit the questions that mattered.

AXISCADES Technologies · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ3-FY26 · 2026-02-10Back to quarter ↗

Questions audited

Answered directly

75%

Numeric claims

Consistency

contradicted

Question ledger

What was answered, and how?

Bala Subramanyan · Arhan Capital

evasive

Why US revenue grew despite tariffs and how tariffs are managed with customers.

We are not impacted by the tariffs as it is... US also is doing quite well at this stage. Overall the percentage will remain the same. We don't see any major shift.

Bala Subramanyan · Arhan Capital

partial

Why defense margins are lower than competitors and impact of depreciation/capex.

We are not going to be anything different from the rest of the industry... our owns are also not that different at this stage... because a lot of warranty work is going on in defense... as the program matures the margins will keep on increasing.

Jatan Jadha · Surra Capital

direct

Status of seeker development for missiles and type of seeker.

We are developing the RF seeker for bigger missiles including for BrahMos and Kusha etc. And we had a very successful trial last week... customer demo has been with all the RF functionalities has been completed on 4th of February.

Jatan Jadha · Surra Capital

direct

Is the mission computer platform agnostic and is software developed in-house?

The mission computer algorithm is provided by the defense labs whereas the display process the basic software then AI algorithm is provided by us. Technically it can be used for other platform also... it's platform agnostic.

Nali Gopali · Unique PMS

direct

Is the 40% core growth guidance for FY27 and 70% for FY28 still intact?

Absolutely. Absolutely no change 26 we are all set... we will stick to that core increase of 40 plus%... we are firmly on track again on the core increase of 40% plus.

Nali Gopali · Unique PMS

partial

Why EPS growth guidance is only 40-50% when core business is growing faster?

The 50% is the minimum conservative number... in the 9 months have grown by 65%... from a EBITDA line to the PBT line it's about 78%... the conversion will be much higher.

Koshik Moan · Ashikag

direct

Confirmation on EPS target of 25-26 rupees for FY26.

Absolutely. You are on target. We are looking at the same numbers around 25 26 EPS. We are looking at that.

Koshik Moan · Ashikag

direct

What is the expected EBITDA growth from FY26 to FY27?

we are targeting conservatively about 45% growth in EBITDA and minimum that is our bare minimum growth... I'm just giving a band of 40 to 50%.

Ruja Tamankar · Arte Securities

partial

What is the current order book and its composition?

we have a currently around 3,300 3,400 crores as our forecast visibility... it will continue to be defense as a number one growth area for us and followed by ESI and aerospace.

Deepak Podas · Safire Capital

direct

What is the pipeline size and conversion ratio?

pipeline wise we are looking at around nearly moving to what is the 14,000 crores as of today... OEMs it has a pretty high conversion ratios... government in the conversion rate will be 50%... overall good chance of 50 60% conversion overall.

Deepak Podas · Safire Capital

direct

What is the margin differential between product/solution and services, and aspirational margin target?

products and solutions margins are increasing and they are hitting at for 30% 25 and above... target next year will be about 20%... the following year will be much better... we are looking at 25 if we call it the aspirational.

Nu Sha · Ambika Finap

partial

What is the scope of recent ESI order wins and potential scale-up?

This is a pilot. We are going to scale up... we are expecting a multifold increase... it could be much bigger in the coming days... but don't expect something great happening in FI27... 28 onwards the facility will start giving much more.