Axis Solutions Ltd. has added another major trigger to its growth story after securing a Rs 400 crore rural water-supply project, even as the micro-cap continues to report strong growth in revenue and operating profit.
The stock has jumped from around Rs 25 a year ago to nearly Rs 580 on the BSE. A Rs 1 lakh investment at Rs 25 would have bought 4,000 shares back in September 2025, while today at Rs 580, that investment would now be worth Rs 23.2 lakh, a gain of Rs 22.2 lakh, or around 2,220%.
The sharp rally comes as Axis Solutions delivers strong operating numbers and builds a sizeable project pipeline.
Q1 Growth, Rs 365 Crore Order Book
For the June quarter, Axis Solutions reported revenue from operations of Rs 48.99 crore, up 78% from Rs 27.49 crore a year earlier. Ebitda more than doubled to Rs 6.22 crore from Rs 2.80 crore, lifting the Ebitda margin to 12.7% from 10%. Profit after tax also rose sharply, reaching Rs 3.10 crore, up 98% year-on-year from Rs 1.75 crore.
The company also started FY27 with a Rs 365 crore order book, giving it a sizeable pipeline for the year. Management expects most of these orders to be executed in FY27, although some could spill over into FY28.
And the order pipeline has already grown.
On August 5, Axis Solutions announced a Rs 400 crore order from NKG Primus JV for rural water-supply projects. The work will cover everything from tube wells, rising mains and overhead tanks to pump houses, distribution networks and household connections.
The projects are expected to be completed by March 2027 for single-village schemes and March 2028 for multi-village schemes, adding further visibility to the company's revenue pipeline.
40% Of Order Value To Be Made In-House
Axis Solutions, in one of its latest exchange filings, stated that around 38-40% of the new Rs 400 crore project is expected to comprise products engineered and manufactured in-house. Now this is what reflects the growing capacities and capabilities of the firm.
These include online water and process analysers, pressure, level and flow transmitters, smart chemical dosing systems, industrial automation systems, intelligent RTUs and power and control panels. The company will handle engineering, design, manufacturing, integration, automation, testing, commissioning and supply, while specialised agencies are expected to undertake civil works.
This is important for the company because management has been focusing on increasing its own technology and manufacturing content. It also fits with the company's growing water business.
What Management Expects
Axis Solutions has not provided formal FY27 guidance, but CFO Ninad Vora said growth and profit would be “very, very good” compared with the previous year.
Recurring MRO, AMC and warranty revenue currently accounts for around 5-6% of revenue, with management expecting this to increase over the next one to two years. The hydrogen business remains a longer-term opportunity and has yet to generate revenue.
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