Lakshya Powertech Ltd. (LAKSHYA)
SME CapPower stocks · SME cap · NSE
Lakshya Powertech Limited provides Engineering, Procurement, Construction, and Commissioning (EPCC) services and Integrated Operation and Maintenance (O&M) services across Oil & Gas, Power, Data Centers, Industrial, and Renewable Energy sectors. It also offers specialized services like testing, overhauls, and trading of spare parts.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Weak fundamentals, management trust needs verification, price trend argues for patience, and recent execution is mixed.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Average · 30/100YoY data unavailable — classification deferred
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹91 Cr | NDF | NDF |
| EBITDA | ₹9 Cr | -25.0% | -18.2% |
| Operating margin | 10.0% | -300 bps | -200 bps |
| PAT | ₹3 Cr | NDF | NDF |
| PAT margin | 3.3% | -530 bps | -457 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
FY25 Revenue grew 6.23% YoY to Rs 160.10 Cr, with PAT up 8.20% to Rs 15.80 Cr. EBITDA margin slightly declined to 14.80% from 15.31%.
Lakshya Powertech delivered modest revenue and PAT growth in FY25. While the order book provides near-term visibility, the decline in EBITDA margin, Return on Networth, and ROCE post-IPO warrants close monitoring. The company's strategic focus on data centers and international expansion are key growth drivers, but execution and margin preservation will be critical.
Revenue by Service Category (FY25)
Latest issuer-disclosed distribution across 3 reported categories.
Data Center Infrastructure
Leveraging expertise in emergency power generation and fuel handling systems for India's growing data center industry, projected to reach 2 GW by 2026.
Diversification & New Geographies
Strategic expansion by diversifying offerings and entering the Oil and Gas sector, broadening client acquisition and geographical reach.
Global Reach
Establishing global reach through an EPC contract in Renewables in Malaysia and O&M of Oil and Gas facilities.
Enhanced Project Execution
Growing execution capabilities in terms of project size and number of simultaneous projects.
Growing Data Centre Industry
India's data centre capacity projected to grow from 0.9 GW in 2023 to approx. 2 GW by 2026, with substantial under-penetration.
Increasing Energy Demand
India's economic growth is closely related to its energy demand, with natural gas consumption expected to grow 9% annually until 2025.
Renewable Energy Growth
Installed renewable power generation capacity increased at a CAGR of 15.4% between FY16 and FY23, reaching 125.15 GW in FY23.
FDI in Power Sector
100% FDI allowed in the power sector has boosted FDI inflow.
Impact of IPO on Capital Ratios
Return on Networth and ROCE declined in FY25 due to an increase in equity arising from the initial public offering (IPO).
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The presentation provides both year-on-year (FY24 vs FY25) and half-on-half (H1 FY25 vs H2 FY25) comparisons for financial results, indicating both annual growth trends and sequential momentum are relevant for this service-oriented business.
Revenue
FY25 Revenue: Rs 160.10 Cr (6.23% YoY growth)
EBITDA
FY25 EBITDA: Rs 23.87 Cr (2.56% YoY growth)
PAT
FY25 PAT: Rs 15.80 Cr (8.20% YoY growth)
EBITDA Margin
FY25 EBITDA Margin: 14.80% (vs 15.31% in FY24)
Diversified Portfolio
Geographically diversified portfolio gives leverage to hedge against risks in specific areas or projects and protects from business concentration fluctuations.
One-stop Solution
Aim to provide a one-stop solution for clients, including trading of spare parts integral to O&M Services.
Focus on High-Quality Projects
Prioritize the addition of high-quality projects with greater margins.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Order Book Execution | Rs 274.55 Cr worth of project execution pending as of May 15, 2025. | Monitor timely execution and conversion of pending order book into revenue. |
| Data Center Expansion | Current Data Centre operations in Mumbai and Pune, with plans to offer end-to-end services. | Watch for new project wins and revenue contribution from the Data Centre segment. |
| International Expansion | EPC Contract in Renewables in Malaysia and O&M of Oil and Gas facilities. | Track progress and revenue generation from international projects. |
| Margin Stability | FY25 EBITDA Margin 14.80% (vs 15.31% in FY24). | Monitor EBITDA and PAT margins for stability and improvement, especially given IPO impact on capital ratios. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
24Bearishfull bear SMA stack · SMA20 -13.2% / mo · MACD + · near 52W low
Technical chart
LAKSHYAdaily · 1Y · AUTO-19.8%Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 39.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~15.2% over last month) — short-term momentum negative.
- RSI(14) at 39 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 51% off 52W high · 12% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation & score drivers
U-Score 23 · OVERVALUED · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 23 · OVERVALUED · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
OVERVALUEDWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Valuation contributes 20/30 to the score.
- Balance sheet contributes 8/15 to the score.
- Growth contributes 1/25 to the score.
Main drags
- Penalty bucket subtracts 7 points.
- Fair-value margin of safety is negative at -11.4%.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Mixed Trust: Claim history is still being built. It ranks around the 20th percentile of the scored universe and 24th percentile within Power. Main check: cash conversion is weak at 28/100.
Mixed Trust Lite: Promoter holding is 69.3%. Key concern: Operating cash flow is negative at ₹-30 Cr.
Usable, but needs evidence. Treat guidance with a margin of safety.
overall median 67 · Power: 24th pctile, median 65 · SME: 21st pctile, median 64
3 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Mixed Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter holding is 69.3%.
- ▸Promoter pledge is zero.
Trust risks
- ▸Operating cash flow is negative at ₹-30 Cr.
- ▸Only 0 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 8.23
- P/B
- 0.81
- EV/EBITDA
- 7.40
- Market Cap
- 82.50Cr
Profitability
- ROE
- 9.82%
- ROCE
- —
- ROA
- 5.05%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- —
- EPS 5Y
- —
- Revenue 3Y
- —
- EPS 3Y
- —
Balance Sheet
- Debt/Equity
- 0.72
- Interest Coverage
- 3.33×
- Altman Z
- 2.59
- Book Value
- 101.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- -30.00 Cr
- EPS TTM
- 9.94
Shareholding
- Promoter Hold
- 69.27%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 9%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable names in Power, ranked by similarity
Peers
Business-comparable names in Power, ranked by similarity
Peers
Business-comparable peers in Power — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.