AXISCADES Tech hits the roof after Airbus renews service contract

AXISCADES Technologies was locked in 5% upper circuit at Rs 317.90 after the company announced the renewal of contract with Airbus for providing engineering services.

The company said that it has again been selected by Airbus, a global leader in the aerospace industry, to provide engineering services for product design and development and plant engineering for all Airbus aircraft programs.

In its relationship of over a decade, this is the fourth time that the company has been awarded a contract by Airbus, for engineering services, with significantly enhanced scope, following a rigorous Joint Sourcing Optimisation campaign. This contract renewal will entail niche engineering services on product development and plant engineering across fuselage & wings, covering different locations and divisions.

AXISCADES was also recently acknowledged by Airbus as a preferred EMES (engineering, manufacturing engineering, and services strategic suppliers) supplier owing to its in-depth knowledge of materials, products and procedures, that improve quality while lowering risks, in an efficient and profitable manner.

Arun Krishnamurthi, CEO and MD of AXISCADES Technologies, said: Our vision is to reimagine the sector with an industry leader such as Airbus. Being their trusted partner for more than 15 years, the award of this contract makes us incredibly proud.

We will continue to address the niche and critical areas of aerospace engineering and expand in domains catering to new technologies and intelligent solutions. Digitisation is the key enabler behind the transformation of the aerospace industry and our engineers are well placed not only to deliver but to also go above and beyond expectations with their unique understanding of Airbus processes & products.

AXISCADES Technologies' business profile comprises providing engineering design services and has been serving various verticals, viz. aerospace, defense, heavy engineering, automobile and industrial products. With acquisition of ACAT in FY17 and Mistral in FY18, ACTL also entered into system integration activities focused on the defense sector involving hardware and in product design, development and deployment.

The company's consolidated net profit zoomed to Rs 20.98 crore in the quarter ended September 2022 as against Rs 2.66 crore during the previous quarter ended September 2021. Sales rose 43.37% to Rs 193.66 crore in Q2 FY23 over Q2 FY22.

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