Akash Infra-Projects Ltd.
AKASHNSEInfrastructureEngineering - ConstructionSmall Cap
₹26.4
▼ 1.01%
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38
Composite
Akash Infra Projects (AIPL ) has been promoted by Shri Yoginkumar H. Patel and Shri Ambusinh P. Gol in May 1999 to undertake large value Government contracts for construction of roads and ancillary works . AIPL has bitumen material mix facilities i. e. Hot Mix Batch and Drum Mix plants at seven locations in Gujarat i.e. Khoraj in Gandhinagar ,Gyaspur In Ahmedabad ,Dahegam in Gandhinagar and Derol in Himmatnagar ,Khavad in Kadi Taluka, Bechharaji and Antrolivas in Talod Taluka. AIPL also has CC paver manufacturing facilities at Khoraj and Dahegam. Company has been making profits since incorporation.
Q-DITS fundamental score
38Composite
Growth
44
Profitability
7
Valuation
44
Quality
17
Solvency
27
Earnings
0
Key metrics
MCap
₹45 Cr
TTM PE
68.6x
Industry PE
23.3x
TTM EPS
₹0.38
Book Value
₹50.57
Face Value
₹10
Div Yield
0%
PEG
-5.05x
PB
0.5x
ROE
1.1%
ROCE
3.4%
EBITDA mgn
11.9%
D/E
0.99
Int. Cover
1.2x
Curr. Ratio
1.77x
EPS
₹0.53
Growth — CAGR across horizons
| Metric | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|
| Net Sales | 41% | 9.8% | 4% | — |
| EBITDA | 10.2% | 3.2% | 9% | — |
| Net Profit | 0% | -13.6% | -5% | — |
Score snapshot
Piotroski
6/9
Altman Z
1.06
Quality
16.8
Growth
44.2
Valuation
44
Earn. Qual
0
PEAD
+2
SURGE
+1
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Revenue, profitability & returns
Revenue & Net Profit (₹ Cr)
RevenueNet Profit
Margins (%)
EBITDA%PAT%
Return ratios (%)
ROEROCEROA
Annual financials — last 10 years
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| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ›RevenueCr | 88 | 112 | 160 | 92 | 73 | 67 | 79 | 62 | 60 | 58 | |
| ›EBITDACr | 9 | 10 | 9 | 8 | 6 | 6 | 7 | 7 | 6 | 7 | |
| ›EBITDA margin | 7.6% | 8.8% | 5.5% | 8.9% | 8.4% | 9.5% | 8.9% | 11.7% | 9.6% | 11.9% | |
| ›Net profitCr | 4 | 5 | 2 | 2 | 1 | 1 | 2 | 1 | 0 | 1 | |
| ›PAT margin | 4.2% | 4% | 1.3% | 1.9% | 0.9% | 1.7% | 3% | 2.3% | 0.3% | 1.6% | |
| ›EPS₹ | ₹0 | ₹2.97 | ₹1.34 | ₹1.02 | ₹0.37 | ₹0.68 | ₹1.38 | ₹0.82 | ₹0.13 | ₹0.53 | |
| ›Revenue growth | -14.3% | 28.1% | 42.5% | -42.3% | -21.3% | -7.4% | 17.3% | -21.6% | -3.7% | -2.6% | |
| ›PAT growth | -32.2% | 22.7% | -54.9% | -15.5% | -63.3% | 76.7% | 113.2% | -41.4% | -86.7% | 394.9% | |
| ›ROE | 7.7% | 7.8% | 3% | 2.3% | 0.8% | 1.4% | 2.9% | 1.7% | 0.2% | 1.1% | |
| ›ROCE | 9.7% | 11.3% | 6.6% | 5.2% | 3.7% | 4.8% | 5.5% | 5% | 3% | 3.4% | |
| ›ROA | 4.7% | 5.4% | 1.8% | 1.2% | 0.5% | 0.8% | 1.7% | 0.8% | 0.1% | 0.4% | |
| ›P/E | 0x | 10.8x | 14.9x | 50.1x | 245.9x | 307.5x | 45.4x | 29x | 234.1x | 47.5x | |
| ›P/B | 0x | 1.4x | 0.9x | 1.1x | 1.9x | 4.4x | 1.3x | 0.5x | 0.6x | 0.5x | |
| ›D/E | 0.2 | 0.1 | 0.4 | 0.3 | 0.2 | 0.3 | 0.3 | 0.7 | 1.1 | 1 | |
| ›Current ratio | 3.5x | 4x | 2.2x | 2.2x | 3x | 2.9x | 2.7x | 1.9x | 1.8x | 1.8x | |
| ›Interest cover | 3.2x | 4.1x | 1.9x | 1.6x | 1.3x | 1.4x | 1.7x | 1.4x | 1.1x | 1.2x |
Quarterly results
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| Metric | Trend | 2023-12 | 2024-03 | 2024-06 | 2024-09 | 2024-12 | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ›RevenueCr | 5 | 15 | 15 | 9 | 14 | 20 | 21 | 12 | 11 | 38 | |
| ›Rev growth YoY | -64.5% | 14.6% | -39.6% | -37.5% | 162.5% | 32.9% | 44.4% | 31.1% | -21.5% | 85.8% | |
| ›EBITDACr | -1 | 4 | 1 | -1 | 1 | 4 | 1 | 0 | 2 | 3 | |
| ›EBITDA margin | -23.2% | 24.6% | 10.1% | -9.6% | 8.2% | 21.8% | 6.2% | 2.3% | 16.3% | 9.1% | |
| ›Net profitCr | -2 | 3 | 0 | -2 | 0 | 2 | 0 | -1 | 1 | 1 | |
| ›PAT growth YoY | -676.9% | 3,15,000% | 128.8% | -554.9% | 102.8% | -23.2% | -46.6% | 43.3% | 1,431.7% | -73.8% | |
| ›EPS₹ | ₹-1.27 | ₹1.86 | ₹0.21 | ₹-1.13 | ₹0.04 | ₹1.42 | ₹0.1 | ₹-0.64 | ₹0.54 | ₹0.38 |
Balance sheet — last 10 years (₹ Cr)
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| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ›Shareholders' equityCr | 68 | 69 | 79 | 79 | 80 | 82 | 84 | 84 | 85 | 85 | |
| ›ReservesCr | 60 | 61 | 62 | 62 | 63 | 65 | 67 | 67 | 68 | 68 | |
| ›Total borrowingsCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| ›InvestmentsCr | 20 | 11 | 14 | 6 | 7 | 6 | 6 | 6 | 6 | 0 | |
| ›Total assetsCr | 79 | 83 | 93 | 90 | 94 | 99 | 98 | 99 | 99 | 220 | |
| ›Current assetsCr | 69 | 108 | 123 | 111 | 124 | 138 | 181 | 194 | 194 | 208 | |
| ›Current liabilitiesCr | 17 | 49 | 55 | 37 | 43 | 51 | 94 | 111 | 110 | 120 | |
| ›Trade payablesCr | 10 | 24 | 31 | 16 | 21 | 30 | 35 | 22 | 24 | 25 | |
| ›Gross blockCr | 30 | 34 | 34 | 33 | 28 | 29 | 29 | 34 | 32 | 3 |
Cash flow statement (₹ Cr)
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| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ›Operating CF (CFO)Cr | 10 | -25 | -1 | 2 | -2 | -1 | -33 | -23 | 10 | -2 | |
| ›Investing CF (CFI)Cr | -14 | 6 | 3 | 2 | 0 | 5 | 1 | -1 | 0 | 1 | |
| ›Financing CF (CFF)Cr | 10 | 19 | 1 | -7 | 2 | -4 | 33 | 23 | -9 | 0 | |
| ›Net cash changeCr | 7 | -1 | 3 | -3 | -0 | 0 | 0 | -0 | 1 | -0 | |
| ›Closing cashCr | 16 | 15 | 4 | 0 | 0 | 0 | 1 | 0 | 1 | 1 |
Cash flow components
CFO · CFI · CFF (₹ Cr)
CFOCFICFF
Q-DITS scorecard
Composite score
38
Quality (25%)16.8
Growth (25%)44.2
Valuation (20%)44
Piotroski (15%)67
Earnings Quality (10%)0
Momentum (5%)—
Weighted blend, rescaled to the components available for this stock.
Piotroski F-Score
6/9
✓ROA positiveROA 0.44%
✗CFO positiveCFO ₹-1.53 Cr
✓ROA improving0.09% → 0.44%
✗CFO > PAT (low accruals)CFO -1.53 vs PAT 0.92
✓Leverage decreasedD/E 1.05 → 0.99
✓Liquidity improvedCR 1.75 → 1.77
✓No share dilutionEPS 0.13 → 0.53
✓Margin improvedEBITDA mgn 9.63% → 11.92%
✗Asset turnover upAsset TO 0.3 → 0.28
Altman Z-Scoredistress
1.06
X1
0.398
X2
0.311
X3
0.026
X4
0.388
X5
0.264
>2.9 safe · 1.23–2.9 grey · <1.23 distress
Quality
16.8/100
ROE
1.1%
ROCE
3.4%
Margin
1.6%
Debt
1
Int. cover
1.2x
Growth
44.2/100
Revenue 3Y
9.8%
Profit 3Y
-13.6%
EPS
295.1%
Valuation
44/100
PE
47.5x
PB
0.5x
EV/EBITDA
17.4x
vs universe median: PE 25.6x · PB 2.81x · EV 13.41x
Earnings quality
0/100
CFO₹-2 Cr
PAT₹1 Cr
Accrual ratio0.011
CFO/PAT-1.66x
PEAD · SURGE
+2 / +1
Revenue SUE1.13
EPS SUE0.26
Latest quarter2026-03
Rev growth YoY85.8%
Documents & filings
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Peer comparison
| Company | MCap (Cr) | Revenue | PAT | PE | PB | ROE% | ROCE% | D/E |
|---|---|---|---|---|---|---|---|---|
| Larsen & Toubro Ltd. | 5,79,127 | 2,85,874 | 19,159 | 36x | 5.3x | 18.6 | 16 | 1.12 |
| Rail Vikas Nigam Ltd. | 50,895 | 20,412 | 777 | 58.2x | 5.2x | 14 | 14.7 | 0.56 |
| IRB Infrastructure Developers Ltd. | 25,907 | 7,648 | 850 | 30.5x | 1.2x | 38.6 | 24.8 | 0.96 |
| Kalpataru Projects International Ltd. | 23,874 | 27,143 | 1,031 | 23x | 3.1x | 9.7 | 16.2 | 0.64 |
| Cemindia Projects Ltd. | 21,528 | 10,007 | 591 | 36x | 9x | 28.2 | 33.5 | 0.4 |
| KEC International Ltd. | 14,419 | 23,506 | 606 | 23.8x | 2.3x | 12.1 | 18.5 | 0.69 |
| Engineers India Ltd. | 14,062 | 3,928 | 644 | 20.3x | 4.5x | 19.2 | 25.8 | 0 |