AXISCADES Technologies Ltd

AXISCADES is a leading technology solutions provider, catering to companies in diverse industries, such as aerospace, defence homeland security, automotive, heavy engineering, industrial products, energy, semiconductor and medical healthcare. AXISCADES is a preferred engineering partner for global OEMs with complex supply chains, missioncritical applications and highly advanced technologies. The Company supports customers across their entire value chain, from concept design to manufacturing to aftermarket solutions.The Company was incorporated in 1990 and became Public Limited Company on April 2000. The Company is in the business of transitioning businesses to the internet,this is based on the principle of convergence of all businesses. ITT has four business units which include: Etransitionit,Netmanageit,Smartsourceit and Nurtureit.In 19992000 the company came out with a public issue last October, and has identified call center and software products as its core area,besides education. The company clients list include Ranbaxy,Apollo Tyres,Hero Cycles,ONGC,HDFC Bank etc.During 20002001 the company opened its first SDC in NOIDA and was commissioned in the same year itself. It has also developed an application using B2B Generic engine as the core for the pharmaceutical and hospitality industries. The company has also launched its ticketing services through ITT Entertainment Serivces Pvt Ltd a subsidiary of ITT Ltd.The company has signed a MOU for acquisition with AXIS Inc.,USA for an amount of USD 2.25 million and AXIS operates in the BPO space is focused on the Engineering Design HR segment and has had a very long business relationship with Caterpillar Inc.,a Fortune 500 company.The company along with its Promoters and some other shareholders had entered into a Share Purchase Agreement with Tayana Software Solutions Pvt. Ltd. (TSSL) on 11.01.2008. TSSL has since acquired 60.83% stake in the company, including shares acquired through an Open offer to the Public, making the company its subsidiary and resulting to acquisition, the transaction was completed on 28.04.08.The Company acquired a 54.28% stake in M/s Cades Digitech Pvt. Ltd. in Bangalore on 24th October, 2009. It remained focused on Engineering Design till December 2010 on Software Development during 200910. During 200910, a wholly owned subsidiary of the Cades Digitech Pvt. Ltd. was incorporated in Canada named as Cades Technology Canada Inc. The Company made further investment in Cades Digitech Pvt. Ltd. of Rs. 2,00,50,000. Due to a Preferential Issue made by Cades Digitech Pvt. Ltd. during the year, the total stake of company stood at 51.10% in M/s Cades Digitech Pvt. Ltd. During 201112, the Companys subsidiary, Cades Digitech Pvt. Ltd., set up a dedicated Offshore Development Center (ODC) for one of the worlds largest aircraft manufacturers based out of Europe. Cades enhanced its existing engagement with a Germany based global leader for aircraft structures and aircraft manufacturing systems. The Board of Directors approved the Scheme of Arrangement for the merger of its subsidiary Cades Digitech Pvt. Ltd. into Axis Aerospace Technology Limited (AAT) in 201112. The Company established a subsidiary in China under the name of Axis Mechanical Engineering Design (WUXI) Co Ltd. to explore business opportunities. Axis Mechanical Engineering Design (Wuxi) Co Ltd. was formed a Wholly Owned subsidiary in China on 7th December, 2012. Further, on 8th February, 2013, Cades Digitech Pvt. Ltd. entered into a strategic partnership agreement proposing to acquire 76% stake in Studec Technologies India Pvt. Ltd., the Indian subsidiary of French engineering company Studec France, which specialises in Documentation Engineering and Publications, which was completed on 11th July 2013 and it became a subsidiary of Cades Digitech Pvt. Ltd. and subsequently was renamed as Cades Studec Technologies (India) Pvt. Ltd.The Board of Directors of the Company at their meeting held on 23rd January 2013 had approved the Scheme of Arrangement where Cades Digitech Private Limited (Cades) was merged with the Company (Transferree Company), which became effective from 24 March 2014 and accordingly, all the assets and liabilities of Cades was transferred to Axis with effect from the Appointed Date of the Scheme i.e., 1 April 2012.During 201516, the Board of Directors of Company announced the acquisition of AXISCADES Aerospace Technologies Pvt. Ltd. (ACATL), an aerospace, defence and homeland security technologies company, through merger of its Holding Company namely India Aviation Training Institute Pvt. (IAT) with the Company which became effective from the Appointed date of the Scheme, 1st April 2016.During FY 201516, the Company operated primarily across four sectors Aerospace, Heavy Engineering, Automotive and Industrial Products, and Renewable Energy. In FY 17, the Company operated across five main verticals Aerospace, Defence, Heavy Engineering, Automotive and Energy.During the year 201819, Company acquired Phase I of Mistral Solutions Pvt. Ltd. (MSPL), through a Scheme of Merger with the acquisition of 43.38% stake in Mistral Solutions from its existing shareholders, which completed on 15 December, 2017. An additional 44.62% stake as part of Phase 2 of the acquisition was acquired in FY 2019.The Company incorporated a Joint Venture Company in the name of ASSYSTEM AXISCADES Engineering Pvt. Ltd., on 31 August, 2018. Tayana Digital Private Limited, was merged with Jupiter Capital Private Limited with effect from 17th October, 2018.In 202021, the Company launched 3 new products, Elevated Skin Temperature Sensor, Social Distancing Application and Remote Operations Desk. In 202122, the Company established an Offshore Development Centre (ODC) at Hyderabad set up a new office in Montoir de Bretagne, France to increase market further.