Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹1,320Cr
Engineering - Light - General
Rev Gr TTM
Revenue Growth TTM
41.16%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

AXISOL
VS
| Quarter | Mar 2021 | Jun 2021 | Sep 2021 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | -41.7 | 174.6 | 75.3 | | | | | 45.6 | 78.5 | 20.0 | 18.1 | 24.3 |
| 10 | 10 | 36 | 22 | 53 | 12 | 32 | 35 | 86 | 25 | 44 | 39 |
Operating Profit Operating ProfitCr |
| 5.8 | 3.3 | 1.5 | 15.5 | 4.3 | 47.1 | 23.3 | 6.5 | 13.3 | 9.9 | 11.9 | 16.1 |
Other Income Other IncomeCr | 0 | 0 | 0 | 0 | 10 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
Interest Expense Interest ExpenseCr | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
Depreciation DepreciationCr | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| 0 | 0 | 0 | 3 | 12 | 10 | 9 | 2 | 13 | 2 | 4 | 6 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | 0 | 0 | 0 |
|
Growth YoY PAT Growth YoY% | 126.9 | 13.6 | 2,350.0 | | | | | -41.8 | 15.5 | -82.6 | -50.6 | 253.8 |
| 0.7 | -1.9 | 1.4 | 11.6 | 20.9 | 44.0 | 21.4 | 4.6 | 13.5 | 6.4 | 9.0 | 13.2 |
| 0.1 | -0.1 | 0.4 | 0.7 | 0.4 | 2.3 | 2.0 | 0.4 | 3.0 | 0.4 | 0.9 | 1.3 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | 20.8 | -9.6 | 13.7 | 12.4 | -9.2 | | 47.6 | 10.6 |
| 30 | 37 | 33 | 38 | 43 | 39 | 111 | 166 | 193 |
Operating Profit Operating ProfitCr |
| 7.2 | 3.2 | 4.7 | 3.8 | 3.8 | 4.0 | 18.6 | 17.6 | 13.2 |
Other Income Other IncomeCr | 1 | 1 | 1 | 2 | 1 | 1 | 10 | 2 | 2 |
Interest Expense Interest ExpenseCr | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 3 | 4 |
Depreciation DepreciationCr | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| 2 | 1 | 2 | 2 | 1 | 0 | 32 | 33 | 25 |
| 0 | 1 | 0 | 0 | 0 | 0 | 0 | -1 | -1 |
|
| | -71.9 | 237.7 | 23.6 | -71.6 | -38.0 | | 5.5 | -23.2 |
| 4.0 | 0.9 | 3.5 | 3.8 | 1.0 | 0.7 | 23.3 | 16.6 | 11.6 |
| 1.1 | 0.5 | 0.9 | 1.3 | 0.3 | -0.4 | 7.2 | 7.5 | 5.6 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 7 | 12 | 12 | 12 | 12 | 12 | 44 | 47 | 47 |
| 6 | 13 | 13 | 14 | 10 | 11 | 14 | 70 | 72 |
Current Liabilities Current LiabilitiesCr | 10 | 8 | 21 | 16 | 36 | 53 | 56 | 71 | 80 |
Non Current Liabilities Non Current LiabilitiesCr | 2 | 1 | 5 | 5 | 6 | 9 | 17 | 14 | 13 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 26 | 21 | 40 | 30 | 51 | 59 | 81 | 147 | 155 |
Non Current Assets Non Current AssetsCr | 12 | 24 | 23 | 30 | 24 | 37 | 50 | 53 | 55 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 0 | -6 | 3 | -2 | -1 | 11 | -20 |
Investing Cash Flow Investing Cash FlowCr | -9 | 3 | -2 | 8 | -1 | 18 | -4 |
Financing Cash Flow Financing Cash FlowCr | 11 | 3 | -1 | -7 | 1 | -27 | 26 |
|
Free Cash Flow Free Cash FlowCr | 1 | -6 | 3 | -2 | -1 | 10 | -22 |
| -116.4 | -484.7 | 224.0 | -420.6 | -515.5 | 35.5 | -59.4 |
CFO To EBITDA CFO To EBITDA% | -33.7 | -362.3 | 223.7 | -105.7 | -84.7 | 44.4 | -56.1 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 40 | 63 | 54 | 4 | 6 | 5 | 0 | 0 |
Price To Earnings Price To Earnings | 49.1 | 236.4 | 72.2 | 3.8 | 22.3 | 27.2 | 0.0 | 0.0 |
Price To Sales Price To Sales | 1.2 | 1.6 | 1.6 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 |
Price To Book Price To Book | 3.0 | 2.5 | 2.2 | 0.1 | 0.3 | 0.2 | 0.0 | 0.0 |
| 18.9 | 51.8 | 36.8 | 6.3 | 7.7 | 9.4 | 1.2 | 0.9 |
Profitability Ratios Profitability Ratios |
| 30.5 | 19.7 | 64.7 | 56.5 | 28.8 | 8.4 | 46.7 | 41.9 |
| 7.2 | 3.2 | 4.7 | 3.8 | 3.8 | 4.0 | 18.6 | 17.6 |
| 4.0 | 0.9 | 3.5 | 3.8 | 1.0 | 0.7 | 23.3 | 16.6 |
| 12.5 | 5.9 | 7.1 | 8.0 | 5.3 | 4.6 | 37.4 | 23.3 |
| 9.8 | 1.5 | 4.9 | 5.8 | 1.9 | 1.2 | 54.6 | 28.6 |
| 3.3 | 0.8 | 1.9 | 2.5 | 0.6 | 0.3 | 24.2 | 16.7 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
Axis Solutions Limited is a leading Indian industrial automation and engineering solutions provider, established in **1999** by **Mr. Bijal Sanghvi**, a seasoned instrumentation and control engineering professional. Originally known as Asya Infosoft Limited, the company rebranded and evolved into a diversified technology-driven enterprise focused on industrial automation, digitalization, and sustainable engineering.
The company was **listed on the Bombay Stock Exchange (BSE)** in mid-2025, marking a pivotal milestone in its journey and reinforcing stakeholder confidence in its long-term vision and scalability.
---
### **Core Business and Offerings**
Axis Solutions delivers **integrated, lifecycle-supported industrial solutions** across three core business segments:
1. **Automation and Digitalization**
- Smart, connected systems leveraging **IIoT, AI, cloud-based data acquisition, and remote diagnostics**.
- Focus on **predictive maintenance, process optimization**, and **Industry 4.0/5.0 integration**.
- Offers scalable **industrial digital platforms** with robust cybersecurity protocols (encryption, access controls, audits).
2. **Infra & Water**
- Sustainable water management and urban infrastructure solutions.
- Supports green initiatives in alignment with government sustainability mandates.
3. **Industrial Engineering & Systems**
- Turnkey engineering, manufacturing, and integration services.
- Manufacturing of **analyser shelters, Steam and Water Analysis Systems (SWAS), Gas Analysis Systems (GAS), control panels**, and **automation modules**.
- Key contributor to revenue: ₹13,636.09 lakhs in FY2023–24.
> In FY2023–24, **Industrial Engineering & Systems** was the dominant revenue generator, followed by **Infra & Water** (₹6,087.03 lakhs), while **Automation and Digitalization** reported zero revenue, indicating early-stage commercialization.
---
### **Geographic Presence**
- **Headquarters**: Ahmedabad, Gujarat (Plot No. 324, GIDC, Kathwada)
- **Domestic Offices**: Mumbai, Delhi, Bengaluru, Chennai
- **International Presence**: Dubai (UAE), Singapore, Germany
- Serves markets across **India, SAARC, Europe, Middle East, and Africa (EMEA)**
---
### **Manufacturing and Operations**
- Operates from a **3,000 ft² corporate office** in Ahmedabad.
- Three integrated facilities totaling **~92,000 ft²** for **manufacturing, system integration, testing, and inventory**.
- Facilities support end-to-end project execution from design to commissioning.
---
### **Strategic Partnerships and Collaborations**
- Partners with **over 14 global brands**, including:
- **Knick, ADFWeb, Seneca, Stego, Hoffman**
- Collaborations enhance capabilities in **industrial automation, IIoT, data acquisition**, and **Industry 4.0**.
---
### **Technology and Innovation**
- **In-House R&D**: Focus on solutions for hazardous environments; ATEX and IECEx certified products.
- Investments in **wireless sensors, AI-integrated systems, self-calibrating devices**, and **smart enclosures**.
- Proprietary **connectivity protocols** aligned with industry standards for secure data transmission.
- **Data Analytics & AI Team**: Leverages machine learning for predictive insights and operational intelligence.
---
### **Subsidiary and Specialized Units**
- **ELS Automation Pvt. Ltd.**: Systems division focused on analyser systems (steam, water, gas), control panels, and automation.
- Supports both **in-house product development** and **outsourced engineering services**.
---
### **Strategic Expansion: Green Hydrogen Initiative**
- In August 2025, Axis Solutions acquired key assets from **UK-based H2GO Power Limited**, including:
- Intellectual property
- Patents
- Proprietary software for **hydrogen storage, distribution, and optimization**
- Launch of a dedicated **Green Hydrogen Business Vertical**, positioning Axis as an early mover in the green hydrogen space across industrial, transportation, and energy sectors.
---
### **Growth Strategy (“Axis 2.0”)**
Launched in 2025, **“Axis 2.0”** is a strategic transformation framework focused on:
- **Sustainable growth**
- **Digital transformation**
- **Global excellence**
- Integration of **human-AI collaboration** (Industry 5.0)
- Enhancing **resilience, personalization, and responsibility** in industrial systems
---
### **Revenue Model and Customer Engagement**
- **Recurring revenue streams** via:
- **Annual Maintenance Contracts (AMC)**
- **Spare parts management**
- **Post-installation support**
- **Calibration and predictive maintenance services**
- Strong **customer lifecycle management**, enhancing retention and lifetime value.
---
### **Supply Chain and Risk Management**
- Significant import dependency on **Europe, the US, and East Asia** for sensors, analyzers, and components.
- Risks include **supply chain disruptions, freight inflation, and FX volatility**.
- **Mitigation Strategies**:
- Developing **domestic supplier base**
- Implementing **dual-sourcing**
- **Partial currency hedging**
- Maintaining **strategic inventory** for high-lead-time items
---
### **Operations and Compliance**
- **ISO 9001** certified quality management system
- **SAP**-enabled enterprise operations
- Products compliant with **ATEX, IECEx, and CE** standards for hazardous environments
- Investments in **localized warehousing, engineering hubs, and service infrastructure** to improve delivery speed and reduce costs
---
### **Client Sectors**
Serves critical industries including:
- Oil & Gas
- Petrochemicals & Refineries
- Power Generation
- Cement & Steel
- Telecom & Port Machinery
- Engineering Equipment Manufacturing
Customers are served via a **network of dealers, technology collaborators**, and **direct project execution** across **Greenfield and brownfield projects**.
---
### **Recent Strategic Developments**
- **BSE Listing (July–August 2025)**: Enhances credibility, access to capital, and visibility.
- **Green Hydrogen Venture**: Opens new revenue vertical with long-term strategic value.
- **Digital Integration**: Embedding cloud, AI, and smart diagnostics into products to generate recurring revenue.
- **Focus on Compliance-Driven Markets**: Benefiting from tightening environmental and safety regulations in power, steel, and oil & gas sectors.
---
### **Leadership**
- **Mr. Bijal Sanghvi** – Founder, Managing Director
- Instrumentation & Control Engineering graduate
- Over two decades of experience in industrial automation
- Expert in system design, optimization, and reducing operational downtime