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Akash Infra-Projects Ltd. (AKASH) AI Stock Analysis

IN:AKASH

Akash Infra-Projects Ltd.

(NSE:AKASH)

Select Model
Rating:48Neutral
Price Target:INR 22.50â–¼(-7.33% Downside)
Action:reiterated
Date:09/07/26

The overall score is held down primarily by fragile financials: thin and volatile profitability, rising leverage, and recurring negative operating and free cash flows create meaningful execution and funding risk. Technical indicators are broadly neutral without a strong positive trend, and an expensive P/E with no dividend support further limits upside, resulting in a below-average but not distressed stock profile.

Positive Factors
Revenue ReboundThe FY2026 revenue rebound indicates renewed top-line momentum after several years of contraction. If sustained, stronger project activity can improve operating scale, support better absorption of fixed costs, and provide a broader base for rebuilding earnings over the next several quarters.
Negative Factors
Unreliable Cash ConversionRepeatedly negative operating cash flow indicates that reported revenue and earnings are not consistently converting into cash. In a project-based business, this can restrict self-funded growth, increase reliance on financing, and make liquidity more sensitive to working-capital swings.

Akash Infra-Projects Ltd. (AKASH) vs. iShares MSCI India ETF (INDA)

-20%-10%0%10%20%30%IN:AKASH-13.29%INDA-10.31%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
INR 384.80M
Dividend Yield
―
Average Volume (3M)
5,794
Price to Earnings (P/E)
57.0
Beta (1Y)
0.69
Revenue Growth
54.51%
EPS Growth
-4.20%
Country
India
Employees
88
Sector
General
Sector Strength
55
Industry
Engineering & Construction

Akash Infra-Projects Ltd. Business Overview & Revenue Model

Company Description

Akash Infra-Projects Limited is an Indian company primarily engaged in civil engineering and construction. The firm specializes in securing and executing government contracts for major infrastructure undertakings, such as the construction, resurfacin...

Akash Infra-Projects Ltd. Financial Statement Overview

Summary

Revenue has returned to growth and operating results are positive, but margins are thin, leverage has risen, returns on equity are low, and cash flows are persistently weak and volatile, leaving the financial foundation fragile.

Income Statement

52Neutral

Balance Sheet

58Neutral

Cash Flow

35Negative
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue996.85M817.60M579.96M595.23M617.80M721.23M
Gross Profit194.60M170.55M193.62M125.20M282.87M113.58M
EBITDA71.03M67.90M69.11M57.35M67.81M-97.45M
Net Income6.86M6.49M5.52M2.26M13.79M23.23M
Balance Sheet
Total Assets02.20B2.08B2.10B1.92B1.50B
Cash, Cash Equivalents and Short-Term Investments54.75M46.44M69.56M37.97M34.02M36.81M
Total Debt0923.20M862.29M907.88M605.64M227.15M
Total Liabilities-853.48M1.34B1.24B1.26B1.09B675.32M
Stockholders Equity853.48M852.67M846.65M837.97M835.27M822.52M
Cash Flow
Free Cash Flow16.65M-63.94M52.05M-227.17M-338.74M-22.04M
Operating Cash Flow17.89M-62.27M95.48M-226.81M-334.83M-12.63M
Investing Cash Flow6.99M6.43M3.96M-10.33M5.15M51.82M
Financing Cash Flow-23.44M55.13M-93.28M235.15M333.73M-38.92M

Akash Infra-Projects Ltd. Technical Analysis

Technical Analysis SentimentNegative
Last Price24.28

Price Trends

50DMA24.55Negative
100DMA25.58Negative
200DMA25.85Negative

Market Momentum

MACD-0.48Positive
RSI39.25Neutral
STOCH28.78Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:AKASH, the sentiment is Negative. The current price of 24.28 is above the 20-day moving average (MA) of 24.11, below the 50-day MA of 24.55, and below the 200-day MA of 25.85, indicating a bearish trend. The MACD of -0.48 indicates Positive momentum. The RSI at 39.25 is Neutral, neither overbought nor oversold. The STOCH value of 28.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:AKASH.

Akash Infra-Projects Ltd. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

IN:AKASH against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
IN:KAUSHALYAIN:KAUSHALYA49NeutralINR 284.32M-53.10――576.73%-108.98%
IN:AKASHIN:AKASH48NeutralINR 384.80M57.05――54.51%-4.20%
IN:MBECLIN:MBECL44NeutralINR 11.69B0.33――-21.46%―
IN:RKECIN:RKEC43NeutralINR 466.62M-0.90――-70.62%-400.50%
IN:MADHUCONIN:MADHUCON37UnderperformINR 291.49M-0.09――-25.61%46.82%

* General Sector Average

Performance Comparison

0%5000%10000%15000%IN:AKASHIN:KAUSHALYAIN:MADHUCONIN:MBECLIN:RKECIN:SKILDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
IN:AKASH and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
IN:AKASHAkash Infra-Projects Ltd.24.28-4.29-15.02%
IN:KAUSHALYAKaushalya Infrastructure Development Corporation Ltd832.00-192.00-18.75%
IN:MADHUCONMadhucon Projects Limited3.90-3.37-46.35%
IN:MBECLMcNally Bharat Engineering Co. Ltd.350.55347.3110719.44%
IN:RKECRKEC Projects Ltd.20.42-46.23-69.36%
IN:SKILSKIL Infrastructure Limited1.11-0.12-9.76%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Sep 07, 2026