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Akash Infra-Projects Overview

1. Business Overview

Akash Infra-Projects Ltd. is an Indian company primarily engaged in the Engineering - Construction sector. The company undertakes various civil construction projects, which typically include infrastructure development like road construction, irrigation projects, and building construction for both government and private entities. Its core business model revolves around bidding for and executing contracts awarded by clients, generating revenue through the successful completion and billing of these projects.

2. Key Segments / Revenue Mix

The company's primary business segment is Engineering - Construction. Within this, its operations likely encompass:

Civil Construction: Roads, highways, bridges.

Water Infrastructure: Irrigation projects, canals.

Building Construction: Residential, commercial, industrial buildings.

A detailed breakdown of revenue contribution by specific project type or client segment is not publicly available.

3. Industry & Positioning

The Indian Engineering - Construction sector is highly competitive and fragmented, characterized by numerous players ranging from large multinational corporations to regional small and medium-sized enterprises. The industry is heavily dependent on government spending on infrastructure development. Akash Infra-Projects Ltd. likely operates as a regional or mid-tier player, competing on factors such as cost-efficiency, project execution capabilities, timely delivery, and a track record in specific types of civil works. Its positioning would depend on its ability to secure and execute projects effectively against established and emerging competitors.

4. Competitive Advantage (Moat)

Akash Infra-Projects Ltd. appears to have limited durable competitive advantages. The engineering and construction industry is generally commoditized with low switching costs for clients, as projects are often awarded based on competitive bidding and technical specifications. While strong execution capabilities, experienced project management, and established client relationships can offer some advantage, these are typically not considered strong, long-term moats. The company would primarily compete on operational efficiency and a proven track record rather than proprietary technology, brand loyalty, or significant scale advantages over larger peers.

5. Growth Drivers

Key factors that can drive growth for Akash Infra-Projects Ltd. over the next 3-5 years include:

Government Infrastructure Push: Continued high levels of government spending on roads, railways, urban development, and water infrastructure projects (e.g., National Infrastructure Pipeline, Gati Shakti).

Economic Growth: Overall economic growth in India leading to increased private sector capital expenditure and real estate development.

Urbanization: Growing demand for urban infrastructure, housing, and commercial spaces.

Sector-Specific Opportunities: Focus on niche areas or emerging segments within infrastructure, such as smart cities or specialized water management projects.

6. Risks

Project Execution Risk: Delays, cost overruns, and quality issues in project execution can lead to penalties and reduced profitability.

High Competition: Intense competition from numerous domestic and international players can put pressure on bidding margins.

Dependence on Tenders: Revenue generation is highly dependent on winning government and private tenders, which can be cyclical and unpredictable.

Working Capital Management: Construction projects often require significant working capital, and efficient management of cash flows is critical.

Regulatory & Environmental Risks: Changes in government policies, environmental regulations, and land acquisition hurdles can impact project timelines and costs.

Interest Rate Fluctuations: Reliance on debt for project financing makes the company vulnerable to interest rate changes.

7. Management & Ownership

Akash Infra-Projects Ltd. is typically a promoter-driven company, common in India, with the founding family or individuals holding a significant stake and often occupying key management positions. Details regarding specific management quality and the full ownership structure (e.g., promoter holding, institutional investors, public float) would require examining the latest annual reports and shareholding patterns. Promoter-led companies often exhibit strong commitment and long-term vision but can also pose risks related to corporate governance or succession planning if not managed robustly.

8. Outlook

Akash Infra-Projects Ltd. operates in a sector with significant tailwinds driven by India's sustained focus on infrastructure development. The government's ambitious spending plans present substantial opportunities for growth. However, the company faces inherent challenges of the construction industry, including intense competition, project execution complexities, and working capital management. Its ability to profitably secure new contracts, efficiently execute projects, and manage financial risks will be key to capitalizing on the sectoral growth. The outlook is cautiously optimistic, balancing the strong demand for infrastructure with the operational and competitive pressures characteristic of the industry.

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Akash Infra-Projects Key Financials

Market Cap ₹44 Cr.

Stock P/E 48.1

P/B 0.5

Current Price ₹26.1

Book Value ₹ 50.2

Face Value 10

52W High ₹36

Dividend Yield 0%

52W Low ₹ 22.8

Akash Infra-Projects Share Price

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Volume
Price

Akash Infra-Projects Quarterly Price

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Akash Infra-Projects Peer Comparison

Akash Infra-Projects Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 15 5 15 15 9 14 20 21 12 11
Other Income 1 0 1 0 0 0 0 0 0 0
Total Income 15 5 17 15 9 14 20 21 12 11
Total Expenditure 14 7 11 13 10 13 16 20 12 9
Operating Profit 2 -1 5 2 -1 1 5 2 0 2
Interest 1 1 1 1 1 1 2 1 1 1
Depreciation 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 0 -2 4 0 -2 0 3 0 -1 1
Provision for Tax 0 0 0 0 -0 0 0 0 0 0
Profit After Tax 0 -2 3 0 -2 0 2 0 -1 1
Adjustments 0 0 -0 -0 0 -0 -0 -0 -0 -0
Profit After Adjustments 0 -2 3 0 -2 0 2 0 -1 1
Adjusted Earnings Per Share 0.3 -1.3 1.9 0.2 -1.1 0 1.4 0.1 -0.6 0.5

Akash Infra-Projects Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 102 88 112 160 92 73 67 79 62 60 58 64
Other Income 1 1 1 5 5 1 2 17 1 2 1 0
Total Income 103 89 114 165 97 73 69 96 63 62 59 64
Total Expenditure 92 82 104 156 89 67 63 89 56 56 52 57
Operating Profit 12 7 10 9 8 6 6 7 7 6 7 9
Interest 3 2 2 3 3 3 4 3 4 4 5 5
Depreciation 4 2 2 3 3 2 2 1 1 1 1 0
Exceptional Income / Expenses 0 2 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 5 4 6 3 2 1 1 2 2 1 1 3
Provision for Tax -0 1 1 1 0 0 0 -0 0 0 0 0
Profit After Tax 5 4 5 2 2 1 1 2 1 0 1 2
Adjustments 0 0 0 0 0 -0 0 -0 -0 0 -0 0
Profit After Adjustments 5 4 5 2 2 1 1 2 1 0 1 2
Adjusted Earnings Per Share 0 0 3 1.3 1 0.4 0.7 1.4 0.8 0.1 0.5 1.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -3% -10% -4% -5%
Operating Profit CAGR 17% 0% 3% -5%
PAT CAGR 0% -21% 0% -15%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -16% 0% -35% NA%
ROE Average 1% 1% 1% 4%
ROCE Average 3% 4% 4% 6%

Akash Infra-Projects Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 48 48 68 69 79 79 80 82 84 84 85
Minority's Interest 2 1 1 1 0 0 0 0 0 0 0
Borrowings 1 0 1 3 2 0 3 4 2 1 1
Other Non-Current Liabilities 7 7 9 10 12 11 11 13 12 14 13
Total Current Liabilities 31 15 17 49 55 37 43 51 94 111 110
Total Liabilities 88 70 96 133 149 127 138 150 192 210 208
Fixed Assets 12 10 12 14 11 9 6 6 5 9 8
Other Non-Current Assets 13 9 15 11 14 6 7 6 6 6 6
Total Current Assets 63 50 69 108 123 111 124 138 181 194 194
Total Assets 88 70 96 133 149 127 138 150 192 210 208

Akash Infra-Projects Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 16 8 9 16 0 4 0 0 0 1 0
Cash Flow from Operating Activities -6 14 10 -25 -1 2 -2 -1 -33 -23 10
Cash Flow from Investing Activities 2 3 -14 6 3 2 0 5 1 -1 0
Cash Flow from Financing Activities -1 -16 10 19 1 -7 2 -4 33 23 -9
Net Cash Inflow / Outflow -5 1 7 -1 3 -3 -0 0 0 -0 1
Closing Cash & Cash Equivalent 11 9 16 15 4 0 0 0 1 0 1

Akash Infra-Projects Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 0 0 2.97 1.34 1.02 0.37 0.68 1.38 0.82 0.13 0.53
CEPS(Rs) 7.49 4.75 4.61 3.44 2.88 1.8 1.58 2.16 1.46 0.7 1.23
DPS(Rs) 1 1 1 0.5 0.5 0 0.1 0.1 0 0 0
Book NAV/Share(Rs) 0 0 44.77 45.45 46.92 46.72 47.4 48.78 49.53 49.69 50.21
Core EBITDA Margin(%) 10.49 6.22 7.77 2.5 4.03 7.31 6.82 -12.52 10.01 5.43 10.63
EBIT Margin(%) 7.86 7.32 6.64 3.46 5.53 5.08 7.2 7.28 9.99 7.94 9.93
Pre Tax Margin(%) 5.29 5.07 5.03 1.69 2.06 1.07 1.89 2.98 2.8 1 1.82
PAT Margin (%) 5.3 4.19 4.02 1.27 1.86 0.87 1.66 3.01 2.25 0.31 1.58
Cash Profit Margin (%) 9.04 6.83 6.23 3.26 5.26 4.17 3.96 4.61 3.98 2 3.57
ROA(%) 6.12 4.66 5.44 1.78 1.22 0.46 0.84 1.65 0.81 0.09 0.44
ROE(%) 11.97 7.73 7.81 2.97 2.32 0.8 1.4 2.93 1.68 0.22 1.09
ROCE(%) 11.26 9.7 11.29 6.56 5.18 3.68 4.79 5.5 4.96 2.99 3.38
Receivable days 142.69 155.53 103.78 116.02 297.95 333.92 321.48 399.56 680.6 846.21 950.53
Inventory Days 19.6 30.97 28.37 27.76 61.82 106.45 150.46 95.58 146.51 212.59 209.16
Payable days 46.87 20.88 49.75 73.17 275.91 300.35 216.73 192.79 452.7 258.67 226.34
PER(x) 0 0 21.5 29.85 50.06 245.88 307.53 45.45 28.97 234.11 47.47
Price/Book(x) 0 0 1.43 0.88 1.09 1.95 4.44 1.28 0.48 0.63 0.5
Dividend Yield(%) 0 0 0.78 0.63 0.98 0 0.05 0.16 0 0 0
EV/Net Sales(x) 0.19 0.07 0.77 0.45 1.01 2.23 5.46 1.55 1.53 2.27 2.07
EV/Core EBITDA(x) 1.67 0.98 8.74 8.2 11.33 26.58 57.39 17.44 13.07 23.61 17.36
Net Sales Growth(%) -32.81 -14.27 28.06 42.54 -42.33 -21.34 -7.44 17.3 -21.64 -3.65 -2.56
EBIT Growth(%) -44.65 -20.14 16.06 -25.69 -7.78 -27.74 31.15 18.52 7.56 -23.4 21.75
PAT Growth(%) -44.49 -32.2 22.68 -54.94 -15.55 -63.3 76.74 113.2 -41.44 -86.7 394.92
EPS Growth(%) 0 0 1.94 -54.94 -23.97 -63.69 84.92 101.37 -40.61 -83.66 295.14
Debt/Equity(x) 0.56 0.22 0.09 0.38 0.29 0.25 0.3 0.28 0.73 1.05 0.99
Current Ratio(x) 2.03 3.46 3.96 2.19 2.22 3.05 2.9 2.72 1.92 1.75 1.77
Quick Ratio(x) 1.79 2.95 3.38 1.9 1.91 2.35 2.2 2.5 1.51 1.47 1.45
Interest Cover(x) 3.06 3.25 4.12 1.95 1.59 1.27 1.36 1.69 1.39 1.14 1.22
Total Debt/Mcap(x) 0 0 0.06 0.43 0.27 0.13 0.07 0.22 1.52 1.67 1.99

Akash Infra-Projects Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 74.59 74.59 74.59 74.59 74.59 74.59 74.59 74.59 74.59 74.59
FII 0 0 0 0 0 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 25.41 25.41 25.41 25.41 25.41 25.41 25.41 25.41 25.41 25.41
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Akash Infra-Projects News

Akash Infra-Projects Pros & Cons

Pros

  • Stock is trading at 0.5 times its book value
  • Debtor days have improved from 258.67 to 226.34days.

Cons

  • Company has a low return on equity of 1% over the last 3 years.
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