Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
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.
₹93
-2.05 · -2.16%
Market cap ₹97.8 Cr
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals15 Oct 2026 · screener
Latest result01 Jun, 07:47 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage10/14 · 71%
Valuation2026-07-20 · Rf 6.8% · Power P/E 16.8 (n=92)
Technical timing lens
Trend score and candlestick chart
47NeutralSMA20 +19.8% / mo · MACD −
Stock trend: 47
Sector RS: —
Power FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
LAKSHYAD candles · FIT view-36.8%Latest close ₹93.00 on 2026-10-21
Bar
-2.2%
RSI
47
MACD hist
-1.23
52W pos
21%
2026-10-21O ₹95.05H ₹95.05L ₹92.05C ₹93.00Vol 4,000 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
LAKSHYANifty PowerNifty 500
- LAKSHYA
- -5.1%
- Nifty 500
- -6.5%
- Nifty Power
- -14.5%
- Vs Nifty 500
- +1.4 pp
Chart stats
21 Oct 2026- From 52W high
- -43.9%
- 52W range position
- 21%
- ATR (14)
- 4.7%
- Volume vs 20D
- 0.22x
- Avg traded value
- ₹0.2 Cr
- 20D price channel
- ₹89.1 - ₹124.7
₹165.9
₹73.2 - ₹165.9
₹4.4
Latest completed session
20-session average
77.6% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · OVERVALUED21
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Pending data—
Revenue NDF · PAT NDF YoY
Technical
Neutral47
Price trend and sector-relative-strength timing.
Valuation
Legacy model-26.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence57
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Pending dataYoY comparison unavailable - result verdict pending data
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹91 Cr | NDF | NDF |
| EBITDA | ₹9 Cr | NDF | -18.2% |
| Operating margin | 10.0% | NDF | -200 bps |
| PAT | ₹3 Cr | NDF | NDF |
| PAT margin | 3.3% | NDF | -457 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 9.76
- P/B
- 0.96
- EV/EBITDA
- 8.13
- Market Cap
- 97.80Cr
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
- 2.69
- Book Value
- 101.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- -30.00 Cr
- EPS TTM
- 9.94
Shareholding
- Promoter Hold
- 69.80%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 26%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 91.0+2.2% vs prev
Net Profit
₹ CrLatest: 3.0-57.1% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 47.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 rising (~16.5% over last month) — short-term momentum positive.
- RSI(14) at 47 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 44% off 52W high · 27% 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.
Nifty 500 leadership
Relative Strength & Trend Stage
35
RS percentile
Stage 4 Downtrend
1M return
+1.0%
3M return
-8.6%
6M return
-32.6%
1Y return
-15.6%
RS 1D
-5
RS 20D
+17
Sector rank
#12
Industry rank
#32
Stage evidence
- Price is 12.6% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -0.9%.
- Both 3-month and 6-month returns are negative.
50-DMA
price above
200-DMA
price below
Sector
neutral
Industry
neutral
Relative-strength line vs Nifty 500 (base 100)
255 observations
21 Oct 2026Value 76.22-1.24%
RS vs Nifty 50076
Valuation & peers
U-Score 21 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 21 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation19/30
Growth1/25
Quality0/20
Balance Sheet8/15
Cash Flow0/10
Piotroski
4/9 (+1)
Penalties
-8
Raw sum
21
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
21/100 · legacy band OVERVALUED
Positive drivers
- Valuation contributes 19/30 to the score.
- Balance sheet contributes 8/15 to the score.
- Growth contributes 1/25 to the score.
Main drags
- Penalty bucket subtracts 8 points.
- Fair-value margin of safety is negative at -26.7%.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
9.8
PB
1.0
EV/EBITDA
8.1
ROE
9.8%
ROCE
—
FCF Yield
—
Debt/Equity
0.7
MoS
-26.7%
Score movement
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.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
21
Previous: 21
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-26.7%
Previous: -29.4%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
19
19
19
21
19
21
21
21
21
21
21
21
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹150.3
+38.1% MoS
Growth-justified P/E
7.4
Growth-justified Value
₹73.46
-26.7% MoS
PEG
—
Comparable companies
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.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
MAKS
SME
Maks Energy Solutions India Ltd.
Electrical Equipment
match 153
50
12.0
4.5%
+43%
FAIR VALUE
RULKA
SME
Rulka Electricals Ltd.
Electrical Equipment
match 133
47
16.0
9.2%
+45%
FAIR VALUE
KCEIL
SME
Kay Cee Energy & Infra Ltd.
Electrical Equipment
match 132
65
5.0
22.8%
+83%
UNDERVALUED
INDIFRA
SME
Indifra Ltd.
Electrical Equipment
match 130
16
—
-0.9%
-43173%
OVERVALUED
CHAMUNDA
SME
Chamunda Electrical Ltd.
Electrical Equipment
match 128
57
14.0
13.1%
+49%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-08-19T07:52:03.932Z
Management commentary snapshot
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.
Current business mix
Revenue by Service Category (FY25)
Latest issuer-disclosed distribution across 3 reported categories.
O&M49.2%
EPCC40.5%
Special Services10.3%
Growth engines
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.
Tailwinds
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.
Risk radar
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
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
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.
Sector KPIs management disclosed
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)
Management forward view
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.
Thesis monitor
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.
Trust Score
57Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 20th percentile of the scored universe and 25th percentile within Power. Main check: cash conversion is weak at 28/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
3 docs text-extracted · 1 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
20th percentile
overall median 67 · Power: 25th pctile, median 65 · SME: 21st pctile, median 64
Evidence depth
Financial-only
3 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Needs extra due diligence; demand valuation comfort and recent improvement.
Read 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.
Promoter
86
strong · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
65
acceptable · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
55
watch · quarterly consistency
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.
Continue researching Lakshya Powertech Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Investor presentationMay 2025
May 2025 · PPT
Source: Nse
Concall transcriptMay 2025
May 2025 · Transcript
Source: Nse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Nse
Investor presentationMar 2025
Mar 2025 · PPT
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.