Rs 749 crore order book and FIIs & DIIs increase stake: This multibagger IT-engineering company bags order worth Rs 100 crore from Indian Army

The stock gave multibagger returns of 265 per cent in 2 years, 410 per cent in 3 years and a whopping 650 per cent in 5 years.

AXISCADES Technologies Ltd, a leading technology and engineering solutions company, has announced the commencement of delivery of a significant number of Man Portable Counter Drone System (MPCDS) to the Indian Army. This contract marks a major milestone for AXISCADES, as the company begins the delivery of these systems, which are the first of their kind to be inducted into the Indian Defence Forces. The order is worth Rs 100 crore.

The Man Portable Counter Drone System (MPCDS), developed by AXISCADES, stands out as a game-changer in India's defence capabilities. Uniquely designed and entirely Made in India, the MPCDS is compact, portable, and operates on both battery and mains power. Covering multiple frequency spectrums, including Command & Control and Navigation, the system holds the ability to detect and jam a wide variety of drones within a range of up to 5 kilometres.

The Indian Ministry of Defence and Defence Forces have outlined plans to enhance their Counter UAV capabilities through multiple tenders, including emergency procurements, with an estimated addressable opportunity of Rs 3,000 crores within India alone over the next five years. AXISCADES remains a key player at the forefront of this initiative, with the company strengthening its Counter-Unmanned Aerial Vehicle (C-UAV) offerings with integrated sensors and neutralization options, solidifying its position to capture both domestic and global market opportunities.

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About AXISCADES Technologies Ltd

AXISCADES Technologies Ltd is a global engineering and technology solutions company headquartered in Bangalore, with a presence in North America, Europe, and Asia. They offer a wide range of services across the entire product development lifecycle, from concept design to manufacturing support, for industries like aerospace, defence, automotive and medical devices. Their team of over 3200 professionals helps clients create innovative, sustainable, and safer products by leveraging their expertise in areas like avionics, electronic warfare and radar systems. They have a proven track record of working with major defence organizations and original equipment manufacturers, and their solutions have helped reduce program risks and shorten time to market for Fortune 500 companies.

The company has a market cap of over Rs 2,000 crore and as of March 31, 2024, the company’s order book stands at Rs 749 crore. As of March 2024, FIIs increased their stake to 0.38 per cent and DIIs increased their stake to 8.56 per cent compared to 0.08 per cent and Nil holding respectively, in March 2023. The stock gave multibagger returns of 265 per cent in 2 years, 410 per cent in 3 years and a whopping 650 per cent in 5 years. Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.