Bengaluru
AXISCADES Engineering Technologies Ltd, one of the leading product engineering solutions company announced its financial results for the first Q1 of FY 2020 which delivered 24.8 per cent y-o-y growth in total Income to Rs 155.6 crores and significant y-o-y growth in EBITDA from Rs 0.3 crores to 16.9 crores for the quarter. The company’s PBT grew by 10x Q-o-Q.
Capitalising on the strong talent base and its technology capabilities, the company has built over, last year the company won multiple contracts over the past quarter. The company expanded its illustrious global aerospace clientele by adding three new clients in the aerospace industry. Furthermore, it has also bagged Design Signatory Delegation from one of the leading helicopter manufacturing OEMs, which is expected to yield additional contracts in the coming quarters.
David Bradley, Chairman, AXISCADES said, “We have got off to a good start in Q1, however, more can be done to ensure that we take full advantage of the wider market potential. Existing customers have new and more complex engagement opportunities that we must adapt ourselves to convert. The trusted relationships and inherent engineering will allow the team to deliver the required growth trajectory for both 2020 and beyond.”
AXISCADES caters to the futuristic needs of aerospace, defence, heavy engineering, automotive, energy, medical & healthcare sectors. Its proven technology products and services, coupled with industry best practices, enable global OEMs to create innovative, sustainable, safer and smarter products. AXISCADES has 14 engineering centres worldwide including North America, Europe and Asia.