Shares of Axiscades Technologies Limited soared nearly 10% in early trading on Tuesday following the company’s impressive Q1 earnings report. The technology and engineering solutions provider announced a significant 183% increase in net profit, which surged to Rs 17 crore for the June quarter, compared to Rs 6 crore in the same period last year.

Financial Highlights

For the quarter ended June 2024, Axiscades Technologies reported a 4.50% rise in sales, reaching Rs 223.26 crore, up from Rs 213.64 crore in the previous year. This financial performance drove the stock up by 9.65%, bringing it to Rs 554.40 on the Bombay Stock Exchange (BSE), compared to the previous close of Rs 505.60. The company’s market capitalization now stands at Rs 2,214 crore.

Trading Details

A total of 55,000 shares changed hands, contributing to a turnover of Rs 2.97 crore. The stock has experienced significant volatility over the past year, hitting a 52-week low of Rs 433.35 on June 5, 2024, and a 52-week high of Rs 848 on January 11, 2024.

Technical Indicators

Currently, the Relative Strength Index (RSI) for Axiscades Technologies is at 36.3, indicating that the stock is neither in the overbought nor oversold territory. Despite the recent surge, the stock is trading below its 5-day, 10-day, 20-day, 50-day, 100-day, and 200-day moving averages.

Long-Term Performance and Outlook

Over the past two years, Axiscades Technologies has delivered remarkable returns of 310%, and 485% over three years. The company’s total order book stood at $83.2 million as of the end of the June 2024 quarter.

However, the company’s EBITDA for the quarter came in at Rs 31 crore, down from Rs 33 crore in Q1 2024. Nevertheless, EBITDA margins improved to 13.9%, compared to 12.6% in the previous quarter.

Company Overview

Axiscades Technologies offers a comprehensive range of product engineering solutions, including embedded software and hardware, digitization and automation, mechanical engineering, system integration, test solutions, manufacturing engineering, technical publications, and aftermarket services.