Axis Solutions Ltd Management Discussions

ECONOMIC OVERVIEW:

1. Global Economy

Global economic growth remained resilient but moderated amid persistent geopolitical tensions, elevated trade policy uncertainty and tighter global financial conditions. According to the International Monetary Fund (IMF), the global economy is projected to expand by 3.0% in 2026, compared with an estimated 3.2% in 2025, reflecting a marginal slowdown as trade disruptions, policy uncertainty and geopolitical conflicts continue to weigh on investment and economic activity. Global inflation is projected to ease to 3.8% in 2026 from 4.1% in 2025, supported by moderating commodity and energy prices, although inflation is expected to remain above pre-pandemic levels in several economies.

Despite easing inflationary pressures, the global economy continued to face significant headwinds during the year. Heightened geopolitical tensions, evolving trade policies, supply chain realignments and financial market volatility influenced business confidence and cross-border investment flows. The Economic Survey notes that global trade is increasingly being shaped by strategic and security considerations rather than purely economic efficiency, resulting in a more fragmented and uncertain global economic environment. These developments have prompted governments and businesses to focus on enhancing resilience, diversifying supply chains and strengthening strategic capabilities to mitigate external risks.

Global trade and investment continued to operate in a challenging environment during FY 2025 26, with increasing trade policy uncertainty, geopolitical realignments and supply chain diversification influencing cross-border economic activity. The Economic Survey highlights that international trade is increasingly being driven by strategic and national security considerations rather than traditional economic efficiencies, prompting businesses to diversify production bases and strengthen supply chain resilience. Although global growth has remained resilient, the evolving geopolitical landscape and increasing protectionist measures continue to pose risks to investment flows, global commerce and long-term economic stability.

References:

Global Economic Prospects

2. Indian Economy

The Indian economy continued to demonstrate remarkable resilience and maintained its position as the worlds fastest-growing major economy during FY 2025 26 despite persistent global uncertainties arising from geopolitical tensions, trade disruptions and inflationary pressures. According to the First Advance Estimates (FAE) released by the Ministry of Statistics and Programme Implementation (MoSPI), Indias real Gross Domestic Product (GDP) is estimated to grow by 7.4% in FY 2025 26, compared with 6.5% in FY 2024 25, reflecting an acceleration in economic activity.

The improvement in growth was primarily driven by robust domestic demand, healthy private consumption, sustained capital formation and improved manufacturing performance, while the services sector continued to remain the largest contributor to economic growth.

The manufacturing sector emerged as a key driver of Indias economic growth during FY 2025 26, supported by resilient domestic demand, improving capacity utilization and sustained investment activity. As per the First Advance Estimates, the manufacturing sector is estimated to grow by 7.0% in FY 2025 26, compared with 4.5% in FY 2024 25, reflecting a significant improvement in industrial performance.

The energy sector continued to play a strategic role in supporting economic growth and industrial development during FY 2025 26. Moderation in global energy prices contributed to easing inflationary pressures and lowering input costs across industries, while continued investments in renewable energy, power generation, transmission infrastructure and energy security strengthened the sectors long-term growth prospects.

The technology sector continued to emerge as a key catalyst for productivity enhancement, innovation and long-term economic growth during FY 2025 26. According to the IMF, sustained investments in artificial intelligence (AI), digital transformation and advanced technologies are expected to improve productivity and strengthen medium-term growth prospects. The report indicates that rapid AI adoption could lift global economic growth by up to 0.3 percentage points in

2026, provided complementary investments in digital infrastructure, energy systems, critical inputs and workforce skills are undertaken. As governments and businesses accelerate digital transformation, the technology sector is expected to remain a significant driver of innovation, competitiveness and sustainable economic development.

References: https://www.indiabudget.gov.in/economicsurvey/ world economic outlook

INDUSTRY STRUCTURE AND DEVELOPMENTS

1. Industrial Engineering & Industrial Automation Industry

Indias industrial engineering and automation sector continues to witness robust growth, driven by increasing investments in manufacturing, digital transformation and Industry 4.0 technologies. According to Grand View Research, the India industrial automation and control systems market was valued at approximately USD 15.1 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of around 10.8% during 2025 2030, supported by rising adoption of smart manufacturing, Industrial Internet of Things (IIoT), robotics and process automation across industries. Complementing this trend, the Government of India has announced the National Manufacturing Mission in the Union Budget 2025 26 to strengthen domestic manufacturing, improve competitiveness and accelerate technology adoption. In addition, continued emphasis on initiatives such as Make in India, the Production Linked Incentive (PLI) Schemes, and increased public investment in infrastructure are expected to further drive demand for industrial automation, process control and engineering solutions across key sectors including oil & gas, power, chemicals, pharmaceuticals and infrastructure.

References:

Grand View Research India Industrial Automation and Control Systems Market Size, Share & Trends Analysis Report (2025 2030)

Union Budget 2025 26 Budget Speech (National Manufacturing Mission announcement)

Press Information Bureau (PIB) Union Budget 2025 26 Highlights (National Manufacturing Mission and manufacturing initiatives)

Ministry of Heavy Industries Manufacturing and capital goods initiatives

2. Clean Energy and Green Hydrogen Sector

Indias clean energy and green hydrogen sectors continue to emerge as key pillars of the countrys sustainable industrial transformation, supported by strong policy initiatives and increasing investments in renewable energy infrastructure. The Government of India has set an ambitious target of achieving 500 GW of non-fossil fuel-based installed power capacity by 2030, while the National Green Hydrogen Mission aims to establish an annual production capacity of 5 million metric tonnes (MMT) of green hydrogen by 2030, supported by the addition of approximately 125 GW of renewable energy capacity, mobilisation of over 8 lakh crore in investments and creation of more than 6 lakh jobs. These initiatives are expected to accelerate the transition towards a low-carbon economy and drive significant demand for advanced engineering, clean energy technologies, hydrogen production systems, process solutions and integrated infrastructure across sectors such as power, refining, chemicals, fertilizers and heavy industries, creating substantial long-term growth opportunities for technology-driven engineering companies.

References:

International Energy Agency (IEA) National Green Hydrogen Mission

India Science, Technology & Innovation (Government of India) National Green Hydrogen Mission

Ministry of New and Renewable Energy (MNRE)

Grand View Research India Industrial Automation and Control Systems Market

Union Budget 2025 26

OUTLOOK

Indias industrial engineering and industrial automation industry is expected to witness sustained long-term growth, driven by the increasing adoption of Industry 4.0 technologies, rising investments in manufacturing modernization and growing demand for smart factory solutions across process and discrete industries. According to Grand View Research, the India Industrial Automation and Control Systems market is projected to grow at a compound annual growth rate (CAGR) of approximately 10.8% during 2025 2030, supported by the increasing deployment of industrial automation solutions such as distributed control systems (DCS), programmable logic controllers (PLC), supervisory control and data acquisition (SCADA), industrial robotics, Industrial Internet of Things

(IIoT) and advanced process control technologies. The growing emphasis on operational efficiency, productivity enhancement, energy optimization, predictive maintenance and digital transformation across industries including oil & gas, power, chemicals, pharmaceuticals, food & beverages and infrastructure is expected to continue driving demand for advanced engineering and automation solutions, creating significant long-term growth opportunities for technology-driven engineering companies.

Indias clean energy and green hydrogen sector is expected to witness robust long-term growth, driven by the countrys accelerating transition towards a low-carbon economy, expanding renewable energy capacity and increasing investments in green hydrogen infrastructure. According to Grand View Research, the India Green Hydrogen Market is projected to grow at a significant compound annual growth rate (CAGR) over the forecast period, supported by rising demand for decarbonization across industries, increasing adoption of renewable energy, technological advancements in electrolyzer systems and growing investments in sustainable energy solutions. The continued development of green hydrogen production, storage and distribution infrastructure, together with increasing deployment across refining, fertilizers, chemicals, steel, power and mobility sectors, is expected to strengthen the clean energy ecosystem and generate substantial demand for advanced engineering, process technologies and integrated energy solutions, creating significant long-term growth opportunities for technology-driven engineering companies.

Reference:

Grand View Research India Industrial Automation and Control Systems Market Size, Share & Trends Analysis Report, 2025 2030.

OPPORTUNITY AND THREATS

1. Opportunity

1. Make in India & Local Manufacturing Push

The Company continues to strengthen its domestic manufacturing capabilities in line with the Government of Indias Make in India initiative. Increased localization of products, assemblies and system integration is expected to enhance supply chain resilience, reduce dependence on imports, improve cost competitiveness and increase eligibility for Government, PSU and infrastructure projects with domestic content requirements.

2. Industrial Automation & Digital Transformation

Growing investments in industrial automation, digital transformation, Industry 4.0 and ESG (Environmental, Social and Governance) initiatives are driving demand for advanced analytical instrumentation, process automation, Continuous Emission Monitoring Systems (CEMS), Ambient Air Quality Monitoring Systems (AQMS), IIoT-enabled monitoring solutions and predictive maintenance services. These evolving industry trends provide significant opportunities for the Company to expand its portfolio of integrated solutions and strengthen its market presence.

3. MRO Services & Lifecycle Management

Post-installation support, Annual Maintenance Contracts (AMC), calibration services, retrofit and system upgradation, spares management and remote monitoring services present strong opportunities for generating recurring revenue. By offering comprehensive lifecycle support, the Company aims to enhance customer satisfaction, strengthen long-term relationships and maximize the operational performance and lifecycle value of its installed systems.

4. Expansion into Emerging Industry Verticals

Rapid growth across sectors such as water and wastewater treatment, renewable energy, hydrogen, pharmaceuticals, semiconductor manufacturing, battery and electric vehicle (EV) manufacturing, data centers is creating increasing demand for advanced monitoring, automation and analytical solutions. The Company is well-positioned to leverage its expertise and diversified product portfolio to expand its presence across these high-growth industries. Entry into New Verticals

5. Government-Driven Sustainability & Compliance Initiatives

Increasing environmental regulations, emission monitoring requirements, industrial safety standards and water quality compliance norms are driving investments in advanced monitoring and control systems across power, cement, steel, oil & gas, chemicals and process industries. The Company is well-positioned to support customers in achieving regulatory compliance while improving operational efficiency and sustainability.

6. Export Market Expansion

Growing investments in industrial infrastructure across the Middle East, Southeast Asia, Africa and other international markets present attractive growth opportunities. The increasing demand for process automation, analytical instrumentation, gas analysis, emission monitoring and water quality solutions provides the Company with opportunities to expand its global footprint through strategic partnerships, distributors and channel networks.

2. Threats

1. Price Competition from Local Low-Cost Vendors

The market for instrumentation and automation products remains highly competitive, with numerous domestic and international players competing aggressively on price. Such pricing pressure may impact margins, particularly in commoditized product segments. The Company continues to differentiate itself through engineering expertise, product quality, customized solutions, technical support and value-added services.

2. Rapid Technological Advancements

Continuous advancements in AI-enabled analytics, Industrial Internet of Things (IIoT), cloud-based monitoring, wireless instrumentation, smart sensors and self-calibrating technologies may accelerate product obsolescence and require ongoing investments in research, product development and technology upgrades. The Company remains committed to innovation to ensure its offerings remain competitive and aligned with evolving customer requirements.

3. Regulatory & Export Market Risks

Expansion into international markets involves compliance with diverse regulatory standards, certification requirements, trade policies, geopolitical developments and region-specific economic conditions. These factors, along with foreign exchange fluctuations, may impact project execution and profitability. The Company continues to adopt a structured approach to managing these risks while pursuing global growth opportunities. Increasing imports from the Chinese market have intensified competition due to growing customer acceptance of Chinese products.

4. Talent Acquisition & Retention

The availability and retention of skilled professionals in engineering, technical sales, project execution and after-sales support remain critical to the Companys long-term success. Competition for experienced talent from multinational corporations and industry peers may impact business continuity. The Company continues to invest in employee development, engagement and capability enhancement to build a strong and sustainable workforce.

5. Supply Chain & Component Availability

The Company depends on the timely availability of certain specialized electronic components, sensors, analyzers and imported equipment. Global supply chain disruptions, logistics challenges, geopolitical uncertainties or supplier constraints may affect procurement timelines and project execution. The Company continues to strengthen supplier relationships and diversify sourcing strategies to mitigate these risks.

6. Cybersecurity & Digital Infrastructure Risks

As industrial operations increasingly adopt connected devices, cloud platforms and remote monitoring technologies, cybersecurity has become a critical business consideration. Cyber threats, data security risks and evolving customer cybersecurity requirements necessitate continuous investment in secure digital infrastructure and technology safeguards to maintain customer confidence and business continuity.

Company have taken strong measures to mitigate threats.

SEGMENT PERFORMANCE

The Company has strategically aligned its operation around three core business segments: Automation and Digitalization, Infra & Water and Industrial Engineering & Systems, each reflecting its commitment to innovation, sustainability and long-term value creation. The Automation and Digitalization segment focuses on delivering smart, connected solutions that enhance efficiency and operational intelligence across industries.

The Infra & Water segment addresses critical infrastructure needs, with an emphasis on sustainable water management, urban development, and environment resilience. The Industrial Engineering & Systems segment provides integrated engineering solutions and turnkey systems for complex industrial applications, supporting clients in achieving productivity, reliability, and technological advancement. These strategic focus areas position the Company to capitalize on evolving market trend and drive growth across diverse sectors.

					(Rs. In Lakh)
Details	Automation and Digitalization		Infra & Water		Industrial Engineering & Systems
	2025-26	2024-25	2025-26	2024-25	2025-26	2024-25
Revenue from Operations ( in Lakhs)	2415.00	2391.46	7548.00	6087.03	13874.71	11588.94
Profit before Interest and Tax ( in Lakhs)	473.58	321.46	1774.53	1696.74	1687.14	1387.67

KEY DEVELOPMENT IN 2025-26

1. Revocation of Suspension of Trading:-

The Bombay Stock Exchange revoked the trading suspension on the equity shares of the Company with effect from 30th July 2025 pursuant to the successful implementation of the Resolution Plan approved by the Honble National Company Law Tribunal (NCLT), Ahmedabad Bench, vide its order dated 11th July 2024, and the Scheme of Arrangement between Axis Solutions Private Limited ("Transferor Company" or "ASPL") and Asya Infosoft Limited, now known as Axis Solutions Limited ("Transferee Company" or "AIL"), approved by the National Company Law Appellate Tribunal (NCLAT), Delhi Bench, vide its order dated 27th August 2024.

2. Acquisition of Green Hydrogen Technology and Establishment of Green Hydrogen Business Vertical:-

As part of its strategic growth and diversification initiatives, the Company completed the acquisition of technology assets from H2GO Power Limited, United Kingdom. The acquisition encompasses patents, trademarks, proprietary software, technical know-how and other intellectual property relating to hydrogen storage, distribution and optimization technologies. This milestone transaction strengthens the Companys technology capabilities and establishes a dedicated Green Hydrogen Business Vertical, positioning it to participate in the evolving green hydrogen ecosystem.

3. Incorporation of Wholly Owned Subsidiary at England:-

Company has incorporated a Wholly Owned Subsidiary (Wos) Company in England in the name of Brix Engineering Limited. The move aim at to strengthen the companys presence in the global market and expand its reach into Southeast Asia Region. The Wos Company focus on the manufacture of engineering products for industrial process automation and the production of industrial engineering solutions. The Wos aims to cater to the evolving requirements of customers across diverse industrial sectors by delivering high-quality engineering products, thereby strengthening the Companys international presence and supporting its long-term growth strategy.

4. Incorporation of Wholly Owned Subsidiary at India:-

Company has incorporated a Wholly Owned Subsidiary (Wos) Company in india in the name of Axtevate Go Private Limited. The Wos Company focus on developing a comprehensive electric vehicle (EV) ecosystem through the manufacturing of EV charging equipment, the provision of integrated EV charging solutions, and the development of related products and technologies. The Company continues to invest in research and development to advance charging technologies and enhance product innovation while also exploring solar-based power generation solutions to support sustainable and renewable energy integration within the EV ecosystem. Through these initiatives, the Company aims to contribute to the growing clean mobility sector and strengthen its position in the evolving electric vehicle infrastructure market.

RISK AND MITIGATION

The Board holds the primary responsibility for overseeing risk management and internal controls to ensure alignment with the Companys strategic objectives. This includes defining the Companys risk tolerance, continuously assessing and monitoring key risks and reviewing reports from internal auditors on risk assessments and control measures. Given the evolving regulatory landscape, market volatility and operational challenges, the Company remains committed to undertaking proactive risk mitigation through robust governance frameworks, compliance mechanisms and strategic decision-making to safeguard long-term business sustainability.

Risks / Threats	Risk Description	Mitigation Strategy
Working Capital and Liquidity Risk	The Companys operations in the Industrial Engineering and Industrial Automation sector were exposed to working capital and liquidity risks arising from inventory requirements, project execution cycles and customer receivable periods. Any delay in collection of receivables, increase in inventory holding or changes in project timelines may impact cash flows	The Company manages working capital and liquidity risks through effective cash flow planning, regular monitoring of receivables, optimization of inventory levels and efficient management of procurement and production cycles. The Company maintains close coordination with customers and suppliers to ensure timely execution of projects and availability of required resources. Further, prudent financial planning and periodic review of funding requirements help the Company maintain adequate liquidity and meet its operational and financial commitments in a timely manner.
Project Execution and Site Readiness Delays	The Infra & Water segment operates across multiple states and requires coordination with various stakeholders, which introduces operational complexities. Risks in this segment include delays in civil readiness, obtaining approvals from municipal authorities, and payment holds on the client side. These factors can result in cost overruns, accumulation of unbilled revenues, and blockage of working capital, thereby impacting project timelines and financial performance.	To address these risks, the Company is institutionalizing dedicated project management teams, implementing digital tools for real-time tracking of execution progress, and adopting a selective bidding approach guided by pre-defined risk assessment filters. These measures aim to enhance execution efficiency, reduce delays, and improve overall project control.
Risks / Threats	Risk Description	Mitigation Strategy
Technology Obsolescence and Innovation Risk	technology obsolescence risks due to rapid advancements in automation solutions, digital technologies, control systems and evolving customer requirements. Failure to adopt emerging technologies or upgrade existing solutions may impact competitiveness, operational efficiency and market opportunities.	The Company addresses this risk by continuously monitoring industry developments, enhancing technical capabilities, investing in research and development activities, upgrading product and solution offerings and adopting advanced automation and digitalisation technologies. The Company also focuses on strengthening engineering expertise and collaborating with customers to provide efficient, reliable and technology- driven solutions aligned with changing market requirements.
Supply Chain and Import Dependencies	exposed to supply chain risks arising from availability of critical components, fluctuations in raw material prices, extended lead times and dependence on certain imported components and technologies. Any disruption in the supply chain may impact production schedules, project execution timelines and overall cost efficiency.	The Company mitigates supply chain risks through proactive procurement planning, maintaining appropriate inventory levels for critical components, developing alternate supplier sources, regular monitoring of supply chain conditions and strengthening vendor relationships. The Company continues to evaluate opportunities for localisation and diversification of sourcing to enhance supply chain resilience and ensure timely execution of customer requirements.
Geographical Risk	exposed to geographical risks arising from variations in regional economic conditions, regulatory requirements, project-specific factors and changes in demand across different markets. Any slowdown in key markets, regional disruptions or changes in government policies may impact business opportunities, project execution and revenue growth	The Company mitigates geographical risks by maintaining a diversified customer base, expanding presence across different markets, closely monitoring regional developments and adapting its solutions in line with local requirements and regulatory frameworks. The Company focuses on strengthening customer relationships and pursuing opportunities across multiple sectors and geographies to reduce dependency on any particular market.
Risks / Threats	Risk Description	Mitigation Strategy
Export Market Exposure	exposed to export market risks arising from changes in global economic conditions, foreign exchange fluctuations, regulatory requirements, geopolitical developments and variations in demand across international markets. Such factors may impact export opportunities, project execution and profitability.	The Company manages export market exposure through continuous monitoring of international market trends, maintaining a diversified customer base, evaluating opportunities across multiple geographies and ensuring compliance with applicable regulatory requirements. The Company also focuses on effective project planning, cost management and maintaining operational flexibility to address changing global market conditions.

DISCUSSION ON FINANCIAL PERFORMANCE

WITH RESPECT TO OPERATIONAL PERFORMANCE (in Lakh except EPS)

Details	2025-26	2024-25
Revenue from Operations	23838	20067.43
Profit before Tax	3935	3439.37
Profit after Tax	2906	3500.48
Earnings per Share (EPS) (Basic)	6.17	7.84
Non-Current Liabilities	1706.17	1417.17
Current Liabilities	11668.91	6990.05
Equity Share Capital	4726.03	4726.03
Other Equity	9713.94	7034.78
Total Equity	14439.97	11760.81
Total Equity and Liabilities	27815.04	20168.03

In FY 2025-26, the Company continued its operational growth, with Revenue from Operations increasing by 18.79% to 23,838.00 lakh from 20,067.43 lakh in the previous year, reflecting sustained business momentum. Profit Before Tax also grew by 14.41% to 3,935.00 lakh, demonstrating the Companys ability to maintain healthy profitability despite increased operational scale. The Companys financial position remained robust, with Total Equity increasing by 22.78% to 14,439.97 lakh, primarily driven by higher retained earnings reflected under Other Equity. Current Liabilities increased to 11,668.91 lakh in line with higher business activities and working capital requirements, while Non-Current Liabilities witnessed a moderate increase to 1,706.17 lakh, supporting the Companys long-term operational and strategic requirements.

KEY FINANCIAL RATIOS

Sr. No. Key Financial Ratios	2025-26	2024-25	Changes in %	Reason for Change
1 Debtors Turnover (in times)	0.51	2.1	(75)	Spike in Quarter end sales impacting the Debtors Turnover Ratio
2 Inventory Turnover	3.65	3.70	(1.36)
(in times)
Interest Coverage 3 Ratio (in times)	9.49	11.72	(19.02)	Increase in short term borrowing resulted into decrease in Interest Coverage Ratio
4 Current Ratio	1.85	2.12	(12.73)	Increase in short term borrowing resulted into decrease in current ratio
5 Debt-to-Equity Ratio	0.56	0.32	75	Increase borrowing during the year which outplaced growth in shareholder equity
6 Operational Margin (in %)	18.79	17.83	5.38
7 Net Profit Margin (in %)	12.00	17.52	(31.50)	Dispatch impacting global Geo Political Scenario resulting into the decrease in Net Profit Margin
8 Return on Equity	27	30	(10)
(in %)
9 Creditors Turnover (in Times)	4.46	5.51	(19.05)	Increased short term borrowing helped in lowering the creditors.
10 Net Worth (in crores)	134.37	117.61	14	Increased revenue even with the lower margin helped with positive impact on net worth.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has devised a robust internal control framework in accordance with the nature and size of the business and complexity of its operations. The Company has implemented robust internal controls, which inter alia, ensure adherence to rules and regulations, safeguarding of assets, timely preparation of reliable financial statements, accurate and complete account keeping, and prevention and detection of fraud and errors. The Company has put in place strong policies and procedures to ensure that it conducts business with integrity amidst the dynamic corporate environment. The company thrives to ensure continuous assessment of the efficacy of various policies.

Internal Control of the Company has been designed to further the interest of all stakeholders by providing an environment which is conducive to conduct its operations and at the same time putting in the appropriate checks and balances.

The Company has aligned its internal controls with the requirements of the Companies Act, 2013 and is a combination of entity-level controls (including Internal Audit, Anti-Fraud Mechanism such as Ethics Framework, Code of Conduct, Whistle-Blower Policy and Anti-Bribery and Anti-corruption policy etc.), process level controls, information-technology-based controls, period and financial reporting and closing controls. Further, the internal Control System have been designed to provide reasonable assurance with regard to recording and providing reliable financial and operational information. The Audit Committee regularly evaluates the adequacy and effectiveness of the internal control framework and monitors the implementation of recommendations arising from internal and statutory audit reviews.

HUMAN RESOURCE

Axis firmly believes that our team members are our greatest asset. We are proud to have a talented team of 250+ professionals who consistently perform at their best. At Axis, the management embraces a unique, parent-like approach, creating a workplace that feels like home and fostering a true sense of belonging and family among all members.

Our leadership style is affiliative, participative, and pacesetting and focused on building commitment, harmony, and teamwork, while striving for excellence in everything we do. We are dedicated to cultivating a culture of respect, care, and mutual honor.

To strengthen our team spirit, Axis regularly introduces human resource initiatives that promote employee engagement and team building. We celebrate major festivals, Womens Day, and Axis Foundation Day as a united family. We also recognize and reward excellence through our Employee of the Month program.

Additionally, Axis places a strong emphasis on Learning Beyond Classrooms by investing in future talent through structured recruitment cycles. We offer Summer and Final Year Internships for Engineering and MBA students, organize factory visits for real-time shop floor and manufacturing exposure, and conduct Faculty Development Programmes, Guest Lectures, and Technical Workshops. These initiatives not only enhance industry-academia collaboration but also help us identify and nurture future talent from the grassroots.

In recognition of our employee-first culture, Axis has been certified as a Great Place to Work for two consecutive years a testament to our commitment to creating a positive, engaging, and growth-driven workplace.

This inclusive, growth-oriented, and open culture makes Axis a place where every team member feels valued, respected, and inspired to grow together.

As on 31st March, 2026 the total number of permanent employees stood at approximately 222.

ACCOUNTING TREATMENT

The financial statements of the Company were prepared in accordance with the Indian Accounting Standards (Ind AS), ensuring consistency with the prescribed accounting guidelines. No departures from these standards were made during the preparation of the financial statements.

CAUTIONARY STATEMENT

The Management Discussion and Analysis Report includes statements that pertain to the Companys objectives, projections, estimates, and expectations. It is important to note that these statements may be considered forward-looking under applicable laws and regulations. It must be understood that the actual results may differ from what is either explicitly expressed or implied in these statements.