- The company posted Rs 48 cr revenue from defence vertical in Q1FY25
Debasis Mohapatra
Bengaluru, 14 September 2024
Engineering solutions company, Axiscades is likely to complete the delivery of counter-drone solutions to Indian defence forces by the end of third quarter (end of December 2024) of ongoing financial year.
In the post earnings analyst call after Q1 (April-June) of FY25, the management of Axiscades has indicated that the delivery process of the counter-drone solutions is continuing.
“We continue to deliver counter-drone solutions to Indian defence and wish to complete the delivery of this anti-drone system in Q3 of this year, which will make us a prime candidate for repeat orders in this category,” Arun Krishnamurthi, CEO and Managing Director of Axiscades has said.
Earlier, the company has won orders for delivering advanced counter drone systems to the Indian Army as a part of a Rs 100 crore order.
The Man Portable Counter Drone System (MPCDS), developed by Axiscades, will enhance India’s defence capabilities, the company has said post winning the order.
The MPCDS is compact, portable, and operates on both battery and mains power. It can detect and jam various drones within a 5-kilometer range, covering multiple frequency spectrums, including command, control and navigation.
The company expects its defence vertical to deliver record performance on the back of strong pipeline.
The overall defence revenue during the first quarter was Rs 48 crore, while its defence production revenues at Rs 28 crore was higher by 73% as compared to Q1 of last year.
“The company’s production revenues from defence will record another milestone in the FY25 with a strong order book of Rs 322 crore at the end of Q1 FY25 in the Mistral defence business,” Krishnamurthi has said.
Axiscades’ subsidiary, Mistral’s strong engagement with Indian defence ecosystem including BEL, HAL, DRDO labs and Ministry of Defence puts the company in good stead.
“Currently, Mistral has planned more than Rs 800 to 1000 crore in certified prototypes across multiple prestigious Indian defence programmes and awaiting production orders. Additionally, new design wins with a potential of Rs 2,500 to 3,000 crore in future production are under development. The company’s order book at the beginning of Q2 FY25 stands at Rs 375 crore, which was 60% scheduled for execution this financial year,” Mujahid Alam, CEO of Mistral has said.
