Axis Solutions Secures ₹43.51 Cr Order from John Cockerill Hydrogen Belgium

Key numbers

Market Cap	₹3,147.3 CrSoftware & Services
P/E Ratio	102.53Sector PE 21.66
1-Year Return	1843.2%Price performance
Order from	John Cockerill Hydrogen Belgium SA
Execution period	July 2027 to December 2027
Deal value	₹43.51 Cr
Share of market cap	1.4%
Share of annual revenue	16.6%

Key highlights

• Order value of €4,028,800 (approximately ₹43.51 Cr) awarded as a lump-sum contract
• Supply includes 128 Oxygen and Hydrogen gas analyzers with sample handling systems
• Project execution is scheduled to take place between July 2027 and December 2027
• Analyzers will be housed in IEC 60079-46 certified cabinets for hazardous-area use
• The equipment is destined for 32 Gas Separation Units at the Kakinada project site

Technical Scope for the Kakinada Project

Axis Solutions Limited has secured a significant project worth approximately €4.03 million (₹43.51 crore) from John Cockerill Hydrogen Belgium SA. The scope of work involves the design, engineering, manufacturing, and testing of 128 gas analyzers equipped with sample handling systems. These units are specifically designed for the Kakinada project in India, catering to 32 individual Gas Separation Units.

Each GSU will receive a set of four analyzers, including both Oxygen and Hydrogen variants. The equipment will be housed in specialized IEC 60079-46 certified cabinets, ensuring compliance with international safety standards for demanding hazardous-area applications within the growing energy sector.

Historical Order Momentum and Portfolio Growth

• On 01 October 2026, the company secured an order for gas analyzer packages for a DRI steel plant in the UAE
• Awarded a ₹9.31 crore contract by Siemens Energy India Limited on 31 August 2026 for PCC E-House systems
• Won a major ₹400 crore rural water supply project from NKG Primus JV on 05 August 2026
• Received a ₹4.25 crore order from BHEL in March 2026 for locomotive high-voltage transducers
• Management previously guided that up to 40% of the NKG Primus project value will be engineered in-house

Financial Performance and Market Scale

The newly awarded ₹43.51 crore contract accounts for nearly 16.6% of Axis Solutions trailing twelve-month revenue of ₹262.17 crore. This order comes as the company continues a strong growth trajectory, evidenced by its significant stock price appreciation over the past year. In the quarter ended June 30, 2026, the company reported an operating revenue of ₹48.99 crore and a net profit of ₹3.1 crore.

While quarterly revenue saw a year-on-year growth of 78.22%, the company maintains a high TTM Price-to-Earnings ratio of 102.53 compared to the industry average of 20.17, reflecting its current status as an expensive rocket in the market.

Management Endorsement of Technical Capabilities

We are pleased to have won this Project from John Cockerill Hydrogen Belgium SA for the Kakinada project. It is a strong endorsement of our technical capabilities and our ability to deliver critical analyzer systems to demanding global projects.

What to watch next

• Announcement of Q2 FY27 financial results tentatively scheduled on or before 14 November 2026
• Commencement of the delivery period for the John Cockerill project starting July 2027
• Completion of single-village schemes for the NKG Primus JV water project by 31 March 2027

“The project adds meaningfully to our project book and supports our export growth, and we remain committed to delivering to the highest standards of quality and on schedule.”

Axis Solutions · financial snapshot

Share price	₹665.95
Market capitalisation	₹3,147.30 Cr
Revenue (annual)	₹240.67 Cr
Net profit (annual)	₹28.84 Cr
Revenue (latest quarter)	₹48.99 Cr-58.25% vs previous quarter
Net profit (latest quarter)	₹3.10 Cr-81.27% vs previous quarter
P/E (TTM)	102.53×Sector 21.66×
Promoter holding	85.64%0.00% QoQ
FII holding	0%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.