Akanksha Power and Infrastructure Limited (AKANKSHA) share price

₹132.85 on NSE as of 2026-09-11. +1.41% on the day. market cap ₹260 Cr. P/E 44.4. 52-week range ₹57.45 to ₹137.00.

Akanksha Power FY26: Revenue Up 16%, Fixed Assets Up 154%, and a Factory That Barely Sold Anything Yet

At a glance

Akanksha Power and Infrastructure closed FY26 with revenue of ₹91.62 crore, up from ₹78.74 crore — a 16.36% climb that management attributes to steady order execution. Net profit reached ₹5.83 crore. Operating profit did the heavier lifting, rising to ₹11.39 crore from ₹8.23 crore, pushing operating margin from 10.45% to 12.43%.

Then there's the balance-sheet line that dwarfs everything else. Fixed assets jumped from ₹15.54 crore to ₹45.60 crore — the presentation flags a 153.94% increase, driven by the acquisition and commissioning of a Medium Voltage capacitor line and technology from TDK, live from 11 February 2026. A plant that expensive, commissioned six weeks before year-end, contributed little to FY26 sales by management's own account.

So the company spent big on capacity that hasn't earned yet, while borrowings climbed from ₹26.76 crore to ₹43.08 crore. The market pays roughly 28.5x earnings for the result.

A capacitor maker in Nashik that suddenly weighs like a much larger business — the question is whether the machines start paying rent. Read on.

Introduction

Founded in July 2008 by Bipin B. Dasmohapatra, Akanksha Power makes electrical equipment — capacitors, transformers, vacuum contactors, and power-quality panels — for industries and utilities. It listed on the NSE SME Emerge platform in January 2024, raising ₹27.49 crore for capex and working capital, per the Crisil rationale.

FY26 was, in the company's telling, a year of rewiring. The headline move was the TDK capacitor facility, relocated, commissioned, and commercialized during the year. Around it sat a cluster of announcements: a brand-label agreement with Schneider Electric India for LV-APP capacitors (₹15–20 Cr per year, deliveries from March 2026), a ₹21.59 crore purchase order under Maharashtra's RDSS programme in April 2025, and the earlier acquisition of a majority stake in Famous Power Limited, a solar subsidiary that holds a letter of award from the Government of Odisha.

Two structural things also happened. CFO Chaitali Dasmohapatra resigned on 23 January 2026, with Sandeep Kedar appointed from 5 February 2026. And a former subsidiary, Akanksha Hanbit Smart Technologies, saw the company's stake fall from 55% to 23%, ceasing to be a subsidiary as of March 2026 — which management notes makes prior-year figures not strictly comparable.

Business model

Akanksha sells the unglamorous plumbing of electricity. When a factory's power factor sags and its motors draw sloppy, inefficient current, someone has to install the boxes that fix it. Akanksha makes those boxes: shunt, surge and pulse capacitors rated up to 40 kV, series reactors, vacuum contactors, current and voltage transformers, residual voltage transformers, and smart meters.

The pitch is a framework the company brands DNA — Diagnose, Navigate, Action — which is a tidy way of saying they measure your power-quality problem, plan a fix, and sell you the hardware to implement it. On top of the metal sits software: a billing-and-analytics platform for utilities that turns meter data into invoices.

By the FY23 disclosures, roughly 54% of revenue came from product and 46% from services and turnkey projects, and the client list reads seriously — Military Engineer Services, HAL, Coal India, Hindalco, IOCL, L&T. The presentation adds newer names it says it won within a short window of the TDK line going live: GE Vernova, NEI, and EPKOM.

The pulse-capacitor brochure lists applications including radar, pulsed lasers, and MRI machines — which is a wide spread for a company doing ₹91 crore of revenue. The product range is broad; the scale underneath it is not. That tension runs through the whole entry.

Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Akanksha Power and Infrastructure Limited.