Akash Infra-Projects Limited (AKASH.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+1219.3%

₹313.73

vs ₹23.78 price

Levered DCF

-₹478.90

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

—

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	59.28×	78.12×	252.69×	28.9×	45.36×	309.34×	245.81×	49.51×
P/B	0.46×	0.51×	0.66×	0.48×	1.28×	4.44×	1.95×	1.1×
P/S	0.48×	0.75×	0.93×	0.65×	1.46×	5.29×	2.11×	0.92×
EV / EBITDA	19.18×	18.62×	25.42×	14.74×	-13.14×	66.52×	30.8×	11.42×
Gross margin	20.9%	33.4%	21.0%	45.8%	15.7%	36.5%	39.6%	10.9%
Operating margin	6.9%	8.6%	3.7%	8.3%	19.4%	5.7%	4.0%	4.4%
Net margin	0.8%	1.0%	0.4%	2.2%	3.2%	1.7%	0.9%	1.9%
Current ratio	1.73×	1.77×	1.75×	1.92×	2.72×	2.9×	3.05×	2.24×
Debt / equity	1.08×	1.02×	1.08×	0.73×	0.28×	0.3×	0.26×	0.31×
Interest coverage	1.04×	1.07×	0.54×	1.15×	4.14×	1.07×	1×	1.28×
Dividend yield	0.0%	0.0%	0.0%	0.4%	0.2%	0.0%	0.7%	0.6%
Payout ratio	0.0%	0.0%	0.0%	12.2%	7.3%	0.0%	162.0%	29.5%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.8%	0.7%	0.3%	1.7%	2.8%	1.4%	0.8%	2.2%
Return on invested capital	2.1%	2.4%	0.4%	2.6%	11.7%	2.9%	2.2%	3.3%
Return on assets	0.3%	0.3%	0.1%	0.7%	1.6%	0.8%	0.5%	1.2%
Free cash flow yield	-16.5%	12.0%	-41.0%	-84.8%	-2.1%	-0.8%	0.9%	-2.4%
Earnings yield	1.7%	1.3%	0.4%	3.5%	2.2%	0.3%	0.4%	2.0%
Enterprise value	₹1.3B	₹1.3B	₹1.5B	₹999.3M	₹1.3B	₹3.8B	₹1.7B	₹942M
Net debt / EBITDA	13.46×	12.33×	15.76×	8.84×	-2.31×	4.18×	3.54×	1.11×
Cash conversion cycle (days)	780	1,051	1,022	44	406	516	437	239