Axiscades Engineering Technologies
Care Ratings upgrades Axiscades long-term bank facilities at 'CARE A-'
Engineering solutions provider Axiscades Technologies Ltd (ACTL) on Thursday said Care Ratings has upgraded its ratings on the company's long-term bank facilities, on account of factors, including improvement in capital structure and stable operational performance. "Care Ratings has upgraded its long-term bank facilities at CARE A- with a stable outlook and short-term facilities at CARE A2+ from CARE BBB+ - stable and CARE A2, respectively," Axiscades Technologies said in a statement. The ratings agency has taken into account factors like improvement in the capital structure of the company following a fundraise of Rs 203 crore in January, stable operational performance in the April-December period of FY24 among others while upgrading the ratings, the statement said. Of Rs 203 crore, the company earmarked Rs 158 crore for debt repayment while the balance Rs 45 crore is for utilisation towards general corporate purposes. ACTL CEO and MD Arun Krishnamurthi said, "This upgrade reaffirm
 "Care Ratings upgrades Axiscades long-term bank facilities at 'CARE A-'")
Axiscades Technologies net profit grows 55% YoY to Rs 16 cr in Q4
Engineering solutions provider Axiscades Technologies has posted a 55 per cent jump in its consolidated net profit to Rs 16.05 crore in the fourth quarter ended March 2023, backed by higher income. It had clocked a net profit of Rs 10.64 crore during the January-March quarter of the preceding 2021-22 fiscal, the company said in a regulatory filing on Thursday. The company's total income rose to Rs 222.07 crore in the March 2023 quarter from Rs 195.55 crore in the year-ago period. In a statement, the company said it has also signed a strategic partnership with auto components maker Mangal Industries Ltd, a part of the Amara Raja Group, to provide engineering services. Its CEO and MD Arun Krishnamurthi said: "The quarter & year under review mark a significant achievement along with significant improvement in profitability. Our integration with Mistral business is progressing as per plan and we continue to synergise our offerings to our current and potential customer base across the .
 "Axiscades Technologies net profit grows 55% YoY to Rs 16 cr in Q4")
Stability, revenue enhancement top target for tech firm Axiscades in FY20
Axiscades is owned majorly by Jupiter Capital, an investment company run by Rajeev Chandrasekhar, and entrepreneur and Member of Parliament
 "Stability, revenue enhancement top target for tech firm Axiscades in FY20")
AXISCADES Engineering extends rally on signing strategic agreement with Airbus
The stock rallied 11% to Rs 197 in early morning trade, extending its previous day's 10% surge on the BSE.
 "AXISCADES Engineering extends rally on signing strategic agreement with Airbus")
