Akash Infra-Projects Limited

NSE: AKASHCivil Construction

Share price

₹24.39

-0.25% close of 9 Oct 2026

Market cap ₹41 CrP/E 41.2 (as of 8 Oct 2026)

Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 7 Oct 2026, the close above is 9 Oct 2026.

Business score

How strong the business is, in one number. The parts behind it are in Pro.

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹41 Cr

P/E ratio

41.2

P/B ratio

0.5

ROCE

3.8%

ROE

1.0%

Dividend yield

0.0%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 9 Oct 2026 close52-week high ₹34.0952-week low ₹23.12

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Our sales figures for this company step up at Mar 2026 and we hold nothing that says why, so we cannot honestly quote a growth rate across it.

Whether it grew faster than its sector

Our sales figures for this company step up at Mar 2026 and we hold nothing that says why, so there is no honest growth rate of its own to set against its sector.

Room to re-rate, or risk of de-rating

At 41.2× earnings it costs 1.7× the market, which pays 23.9× across 2199 companies we can price. Its own industry sits at 11.8×, across 5 companies. It is against its own five-year median of 34.1×, the 61st percentile of its own range.

Whether growth justifies the valuation

Its earnings are falling, so growth cannot justify the price.

	Profit growth	Price per ₹1 profit	Per 1% growth
Akash Infra-Projects Limited — this one	-14%/yr	41.2×	—
Sterling and Wilson Renewable Energy Limited	32%/yr	11.8×	₹0.37
Ahluwalia Contracts (India) Limited	11%/yr	16.0×	₹1.5
PNC Infratech Limited	-38%/yr	5.6×	—
Vindhya Telelinks Limited	6%/yr	14.1×	₹2.4
J.Kumar Infraprojects Limited	13%/yr	8.4×	₹0.65

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Civil Construction), it ranks 74 of 89 on returns, 67 of 84 on growth, 62 of 90 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 3.8% on capital, ahead of 17% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

No — Over the last five years the business itself consumed ₹49 crore of cash before any plant spend, funded mostly borrowed — borrowings rose from ₹23 crore to ₹92 crore. And the profit is not backed by cash: it reported a profit over 12 years and consumed cash from the business. Its cash comes back faster than it used to: it went from being waiting 374.0 days for its cash to waiting 365.9 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

5 of 9 checks clear · 56%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Announced 14 Aug 2026 · Consolidated · Unaudited

Revenue

₹39 Cr

Revenue vs last year

+84.5%

Revenue vs last quarter

+4.1%

Net profit

₹0 Cr

Profit vs last year

+12.5%

Profit vs last quarter

-70.6%

Net margin

0.5%

EPS

₹0.11

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap: ₹41 Cr
Prev close: ₹24.39
52w High: ₹34.7
52w Low: ₹22.8
Enterprise value: ₹128 Cr
Beta: 0.8
Price CAGR 1y: -16.0%
Price CAGR 3y: -6.0%
Price CAGR 5y: -36.0%
Price CAGR 10y: —

Ratios

Return on assets: 0.3%
PEG ratio: -2.9
P/E ratio: 41.2
P/B ratio: 0.5
EV / EBITDA: 19.7
Industry P/E: 15.8
ROCE: 3.8%
ROCE 5y average: 4.1%
ROE: 1.0%
Debt / Equity: 1.1
Interest coverage: 1.2
Dividend yield: 0.0%
ROE 3y average: 1.0%
ROE last year: 1.0%

Annual P&L

Annual revenue: ₹82 Cr
Annual profit: ₹1 Cr
Operating margin: 8.3%
Net profit margin: 0.8%
EBITDA margin: 8.3%
Sales growth 3y: 9.8%
Sales growth 5y: 4.0%
Profit growth 3y: -14.0%
Profit growth 5y: -5.0%
EPS: ₹0.4
Sales growth TTM: 55.0%
Profit growth TTM: 39.0%
Dividend payout: 0.0%

Quarter P&L

Sales latest quarter: ₹39 Cr
Profit latest quarter: ₹0 Cr
YoY quarterly sales growth: 84.5%
YoY quarterly profit growth: 11.8%
OPM latest quarter: 3.6%

Balance Sheet

Book Value: ₹50.6
Face Value: ₹10.0
Total debt: ₹92 Cr
Total cash: ₹5 Cr
Borrowings: ₹92 Cr
Reserves / Equity: 4.1

Cash Flow

Operating cash flow: -₹2 Cr
Free cash flow: -₹2 Cr
FCF yield: -17.6%
Net cash flow: -₹0 Cr

Shareholding

Promoter holding: 74.6%
FII holding: —
DII holding: —
Public holding: 25.4%

Peer comparison

Company	Price ₹	P/E	Mkt cap ₹ Cr	Div yield %	Profit qtr ₹ Cr	Profit var %	Sales qtr ₹ Cr	Sales var %	ROCE %
Larsen & Toubro	3,701.50	28.9	5,08,883	1.03	4,988.0	14.0	67,941.7	6.7	14.6
Rail Vikas	195.87	45.4	40,835	0.87	159.5	18.5	4,321.2	10.6	10.8
Kalpataru Proj.	1,458.40	22.4	24,887	0.75	311.5	45.1	6,408.0	3.8	18.3
IRB Infra.Devl.	17.44	21.4	21,029	0.89	306.3	51.3	2,137.3	1.8	7.5
NBCC	76.74	30.2	20,680	1.30	158.0	17.2	2,259.5	-5.5	29.3
Cemindia Project	1,137.80	32.5	19,546	0.26	140.8	2.6	2,720.9	5.6	32.8
Engineers India	308.30	22.1	17,342	1.62	157.9	141.5	819.8	-5.8	30.4
Akash InfraProj.	24.66	41.6	42	0.00	0.2	23.5	39.1	84.5	3.8
Median	129.94	16.3	666	0.00	10.7	17.2	175.4	11.5	15.6

Competes with: Cemindia Projects Limited, Central Mine Planning & Design Institute Limited, Engineers India Limited, IRB Infrastructure Developers Limited, Ircon International Limited, KEC International Limited, Kalpataru Projects International Limited, Larsen & Toubro, NBCC (India) Limited, Rail Vikas Nigam Limited, Techno Electric & Engineering Company Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026

Line item	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	24	15	5.28	15	15	9.20	14	20	21	12	11	38	39
Expenses	25	14	6.51	11	13	10	13	16	20	12	9.10	34	38
Material Cost								8.52	16	10	9.85	21	34
Change in Inventories								-3.45	0.17	-1.35	-4.79	6.40	-2.60
Purchases of Stock-in-Trade								5.86	0	0	0	0	0
Employee Cost								1.04	1.21	1.22	1.51	1.54	1.57
Other Expenses								3.84	2.43	1.67	2.54	4.82	4.70
Operating Profit	-0.20	0.92	-1.23	3.74	1.47	-0.88	1.15	4.42	1.32	0.27	1.78	3.43	1.42
OPM %	-0.82	6.25	-23	25	10	-9.57	8.29	22	6.22	2.24	16	9.12	3.63
Other Income	0.12	0.76	0.14	1.48	0.18	0.24	0.22	0.17	0.23	0.20	0.36	-0.08	0.14
Exceptional items (within Other Income)								0	0	0	0	-0.34	0
Interest	0.92	1.02	0.85	1.34	1	0.99	0.97	1.80	1	1.08	0.91	2.41	0.94
Depreciation	0.21	0.22	0.22	0.35	0.30	0.29	0.29	0.28	0.29	0.29	0.30	0.31	0.27
Profit before tax	-1.21	0.44	-2.16	3.53	0.35	-1.92	0.11	2.51	0.26	-0.90	0.93	0.63	0.35
Tax %	0	2.27	0.46	11	2.86	-0.52	45	3.59	27	21	1.08	0	49
Net Profit	-1.21	0.45	-2.14	3.14	0.35	-1.90	0.06	2.39	0.17	-1.09	0.91	0.65	0.19
EPS in Rs	-0.72	0.27	-1.27	1.86	0.21	-1.13	0.04	1.42	0.10	-0.65	0.54	0.39	0.12
Diluted EPS in Rs								0.48	0.10	-0.65	0.54	0.38	0.11

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026

Line item	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	102	88	112	160	92	73	67	79	62	59	57	82	100
Expenses	92	82	103	156	89	67	63	89	56	56	51	75	93
Material Cost											16	58
Change in Inventories											-4.98	0.43
Purchases of Stock-in-Trade											28	0
Employee Cost											4.08	5.47
Other Expenses											9.12	11
Operating Profit	11	5.48	8.72	4	3.73	5.32	4.61	-9.86	6.19	3.25	6.21	6.79	6.90
OPM %	10	6.26	7.78	2.50	4.04	7.33	6.87	-13	10	5.47	11	8.30	6.92
Other Income	1.13	3.26	1.21	4.73	4.52	0.77	1.79	17	1.06	2.50	0.75	0.71	0.62
Exceptional items (within Other Income)											0	-0.34
Interest	2.63	1.98	1.81	2.84	3.21	2.92	3.58	3.40	4.46	4.15	4.75	5.39	5.34
Depreciation	3.82	2.31	2.48	3.19	3.14	2.40	1.55	1.26	1.06	1	1.16	1.19	1.17
Profit before tax	5.41	4.45	5.64	2.70	1.90	0.77	1.27	2.35	1.73	0.60	1.05	0.92	1.01
Tax %	-0.37	17	20	24	10	18	13	-0.85	20	68	13	28
Net Profit	5.43	3.68	4.51	2.03	1.72	0.62	1.15	2.32	1.38	0.23	0.89	0.65	0.66
EPS in Rs	5.72	3.87	2.97	1.34	1.02	0.37	0.68	1.38	0.82	0.14	0.53	0.39	0.40
Diluted EPS in Rs											0.30	0.38
Dividend Payout %	8.55	13	17	19	0	0	15	7.27	0	0	0	0

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years: -1%
5 years: 4%
3 years: 10%
TTM: 55%

Compounded profit growth

10 years: -8%
5 years: -5%
3 years: -14%
TTM: 39%

Stock price CAGR

10 years: —
5 years: -36%
3 years: -6%
1 year: -16%

Return on equity

10 years: 2%
5 years: 1%
3 years: 1%
Last year: 1%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated

Line item	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	4.64	4.74	7.59	7.59	17	17	17	17	17	17	17	17
Reserves	43	43	60	61	62	62	63	65	67	67	68	68
Borrowings	27	11	5.87	26	24	20	24	23	61	91	86	92
Other Liabilities	14	12	22	38	45	27	34	45	48	35	37	42
Minority Interest											0.08	0.08
Total Liabilities	88	70	96	133	149	127	138	150	192	210	208	220
Fixed Assets	12	10	12	14	11	8.97	6.12	5.74	5.15	8.93	7.99	7.59
CWIP	0	0	0	0	0	0	0.23	0	0	0	0	0
Investments	0.25	0.40	5.40	0.40	3.33	3.32	3.36	3.29	3.28	3.33	3.30	3.30
Other Assets	76	59	79	119	134	114	128	141	184	197	197	209
Total Assets	88	70	96	133	149	127	138	150	192	210	208	220

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated

Line item	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	-5.81	14	10	-25	-1.24	2.02	-2.37	-1.26	-33	-23	9.55	-1.53
Cash from Investing Activity	2.12	2.91	-14	5.75	2.96	1.69	0.14	5.18	0.51	-0.91	0.40	1.18
Cash from Financing Activity	-0.90	-16	10	19	1.44	-6.85	2.03	-3.89	33	23	-9.33	0.28
Net Cash Flow	-4.58	0.72	7.26	-0.83	3.17	-3.14	-0.21	0.03	0.40	-0.20	0.62	-0.07
Free Cash Flow	-6.03	14	6.46	-29	-1.26	1.88	-1.89	-1.79	-34	-25	9.50	-1.85

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated

Line item	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	150	137	101	162	316	266	356	496	729	938	949	724
Inventory Days	49	51	88	61	169	324	303	147	535	283	353	222
Days Payable	28	12	84	104	312	199	211	397	484	200	235	158
Cash Conversion Cycle	170	176	104	119	173	391	448	246	780	1,021	1,066	787
Working Capital Days	163	112	99	99	205	321	379	374	477	479	496	366
ROCE %	11	6.49	11	6.44	5.10	3.65	4.74	5.49	4.97	2.98	3.32	3.81

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026

Line item	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	75	75	75	75	75	75	75	75	75	75	75	75
Public	25	25	25	25	25	25	25	25	25	25	25	25
No. of Shareholders	8,261	8,525	9,579	9,368	9,933	10,056	9,790	9,750	9,925	9,750	9,849	9,476

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -16.6% (₹29.26 → ₹24.39)Brick size ₹0.96 (fixed)Bricks 41

Price moved up one brickPrice moved down one brickLast close ₹24.39 on 9 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

News

News and filings about Akash Infra-Projects Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

Bitumen for hot-mix (DBM/BC) production - no canonical Commodity node exists for bitumen
Building materials for civil works, bridges and culverts (named in the FY24 MD&A input list)
Kapchi / stone aggregate and grit for road base and bituminous mixes

Depends on the price of

cement
diesel
steel

Sells to

Ahmedabad Municipal Corporation · Road works, Model Road packages I/II/III, 100-120 TPH batch-mix plant with 5-year operatio…
Ahmedabad Urban Development Authority · Road and service-road works incl. Sardar Patel Ring Road service road, Hanshpura to Bhat j…
Gandhinagar Urban Development Authority · Road and ancillary civil construction works (company's own About Us page)
Jilla Panchayat / Pradhan Mantri Gram Sadak Yojana · Rural road construction works - seed edge default-kept, not re-found in the FY24 AR or on…
National Highways Authority of India / MoRTH Ahmedabad Division · EPC-mode periodical renewal of NH-8A Narol-Vishala-Sarkhej link road (0-16 km) and NH-68 (…
Roads & Buildings Department, Government of Gujarat · Road construction, widening, resurfacing, repairs and minor bridges - Kadi-Kalyanpura-Sach…

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector: Construction
Industry: Civil Construction
Classification: Construction › Civil Construction
ISIN: INE737W01013

Business segments

Construction · 64%
Fuel and Grocery · 36%
Others · 0%

Plants

Akash Infra Antrolivas hot-mix plant
Akash Infra Becharaji hot-mix plant
Akash Infra Dahegam hot-mix plant and CC paver unit
Akash Infra Derol hot-mix plant
Akash Infra Gyaspur hot-mix plant
Akash Infra Khavad hot-mix plant
Akash Infra Khoraj hot-mix plant and CC paver unit

News impact

Big market events that reach Akash Infra-Projects Limited, and how the effect spreads.

1 Oct, 21:38 IST · Market event · medium impact

After Armenia, India exports Akash Air Defence System to Tajikistan and Turkmenistan: Defence secretary

India's Akash missile exports to two new countries bring direct orders to builders Bharat Dynamics and Bharat Electronics plus their parts vendors, while unrelated machinery makers feel nothing.

Capital Goods

Who it hits first

India will export Akash air-defence missile systems to Tajikistan and Turkmenistan, its second export after Armenia.
The Defence Secretary signalled more countries may order the multi-target tracking system next.
Missile-maker Bharat Dynamics and electronics-supplier Bharat Electronics gain order-book growth, plus work for their vendors.

Who may gain

Bharat Dynamics — builds the Akash missile; direct export orders
Bharat Electronics — supplies Akash radars and electronics; follow-on work
Paras Defence, Apollo, Avantel, Axiscades — parts and services vendors to BEL and BDL

Along the supply chain

Downstream

Downstream, finished Akash batteries ship to Tajikistan and Turkmenistan, with spares and training revenue trailing for years.

Upstream

Upstream, BEL and BDL pull parts from vendors such as Paras Defence, Apollo and Avantel plus engineering support from Axiscades; each export battery multiplies into component orders.

Where demand moves

Business

Export contracts flow from the two buyer countries to prime contractors BEL and BDL, then outward as vendor orders to parts makers (Paras, Apollo, Avantel) and engineering services (Axiscades).

Capital

Investors are likely to bid up defence primes and their listed vendors on the export pipeline, while unrelated capital-goods names see only sympathy moves.

How it spreads across sectors

Capital Goods

Defence primes and their vendors gain export-led order growth; non-defence machinery sees no change.

Construction

No effect — Akash Infra-Projects shares only the missile's first name and builds roads.

When it plays out

Immediate

In the first week, defence primes and their vendors rally on the export headline.

Medium term

Over six months, vendor orders and fresh country inquiries convert hope into booked revenue.

Short term

Over the next month, contract values and delivery timelines decide how much of the rally survives.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

15 Sep 2022	unspecified	₹0.1
8 Sep 2021	unspecified	₹0.1

Splits, bonuses & buybacks

daily-prices repair: 10 rows from NSE's archive (replace 3, delete 0, insert 7), 2019-10-27..2026-02-01 (docs/flat_day_repair.md)1× · 27 Oct 2019

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Annual report · 2024-256 Sep 2025

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.