Bengaluru. 02 August 2019. AXISCADES Engineering Technologies Ltd., (AXISCADES), India’s leading Product Engineering Solutions Company announced the financial results for the first (1st) quarter of FY 2020. It has begun the financial year on a strong note by delivering a 24.8% 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.
The company expanded its already global aerospace clientele by adding 3 new clients in the Aerospace industry. Furthermore, it has also bagged a ‘design signatory delegation’ from one of the leading Helicopter manufacturing OEMs which is expected to yield additional contracts in the coming quarters.
The company saw increased engagements from existing customers with newer locations and expansions as part of the strategic growth plan for 2020. AXISCADES is seeing strong traction from its earlier investments in digitization by providing Industry 4.0 offerings to its existing clientele last quarter.
David Bradley, Chairman of 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”.