Lakshya Powertech Limited (LAKSHYA)
📢 Recent Corporate Announcements
Lakshya Powertech Limited has announced that its 14th Annual General Meeting (AGM) is scheduled to be held on Tuesday, September 29, 2026, at 03:00 PM IST via Video Conferencing / Other Audio Visual Means. The company has fixed Tuesday, September 22, 2026, as the cut-off date to determine the eligibility of shareholders for e-voting. This filing is a standard regulatory intimation under SEBI Listing Regulations.
- 14th Annual General Meeting scheduled for Tuesday, September 29, 2026, at 03:00 PM IST
- AGM to be conducted via Video Conferencing (VC) / Other Audio Visual Means (OAVM)
- E-voting cut-off date fixed as Tuesday, September 22, 2026
Lakshya Powertech Limited has issued the notice for its 14th Annual General Meeting scheduled for September 29, 2026, via video conferencing. The cut-off date for shareholder e-voting eligibility is September 22, 2026, with the voting window open from September 26 to September 28, 2026. In the accompanying Annual Report for FY25-26, the company reported total revenue of ₹179.93 Cr, EBITDA of ₹20.90 Cr, and PAT of ₹10.14 Cr. The company highlighted an unexecuted order book exceeding ₹800 Cr across Oil & Gas, Power, Renewables, and Data Centre segments.
- 14th AGM scheduled for Tuesday, September 29, 2026 at 03:00 PM IST via VC/OAVM.
- Cut-off date for e-voting set as September 22, 2026; voting period runs September 26 to September 28, 2026.
- FY25-26 full-year financial figures reported at ₹179.93 Cr revenue, ₹20.90 Cr EBITDA, and ₹10.14 Cr PAT.
- Healthy unexecuted order book reported at ₹800+ Crore, offering multi-year execution visibility.
Lakshya Powertech Limited held a Board meeting on August 31, 2026, approving the appointment of M/s J.B.Bhatt & Co. (FRN: 003871) as the company's Cost Auditor for FY 2026-27. The firm brings nearly 11 years of experience in costing records, cost audits under Section 148, and valuation. The announcement represents standard statutory compliance and has no financial or operational impact.
- Appointment of M/s J.B.Bhatt & Co. (FRN: 003871) approved as Cost Auditor for FY 2026-27
- Auditor firm holds nearly 11 years of experience in costing systems, audits, and due diligence
- Board meeting conducted and concluded on August 31, 2026 (03:40 p.m. to 04:00 p.m.)
Lakshya Powertech Limited has appointed M/s J.B.Bhatt & Co. (FRN: 003871) as its Cost Auditor for FY 2026-27. The appointment was approved at the board meeting held on August 31, 2026. The audit firm brings nearly 11 years of experience in cost auditing, valuation, and due diligence. This is a standard statutory compliance disclosure with no direct financial impact on the company.
- Appointment of M/s J.B.Bhatt & Co. (FRN: 003871) approved as Cost Auditor for FY 2026-27
- Board meeting commenced at 03:40 PM and concluded at 04:00 PM on August 31, 2026
- The appointed auditor possesses nearly 11 years of experience in costing records and audit
Financial Performance
Revenue Growth by Segment
Revenue from operations grew 6.23% YoY to INR 160.10 Cr in FY25. Segment contributions were: Oil and Gas (74% share, INR 118.55 Cr), Data Center (18.17% share, INR 29.10 Cr), Power Project (3.1% share, INR 4.96 Cr), and Renewables (3% share, INR 5.51 Cr).
Geographic Revenue Split
Not explicitly disclosed by percentage, but the company is pursuing geographical diversification to support a target revenue of INR 200-210 Cr in fiscal 2026.
Profitability Margins
PAT rose 8.2% to INR 15.80 Cr in FY25, with a stable net margin profile of approximately 10%. FY24 standalone results showed an EBITDA margin of 14.59% and a PAT margin of 9.61%, both significantly improved from 9.72% and 5.66% respectively in FY23.
EBITDA Margin
EBITDA margin was 14.59% in FY24, up from 9.72% in FY23. Management indicates a consistent net margin of approximately 10% across its three major segments (EPCC, O&M, and Special Services).
Capital Expenditure
The company raised INR 49.91 Cr through an IPO in FY25, utilizing the proceeds for working capital and repayment of term loan obligations rather than major new debt-funded capex.
Credit Rating & Borrowing
Assigned a long-term rating of IVR BBB/Stable by Infomerics for INR 30.00 Cr bank facilities. Debt protection is comfortable with an interest coverage ratio of 6.23 times in fiscal 2025.
Operational Drivers
Raw Materials
Not specifically named, but the company is susceptible to volatile input prices for equipment and materials used in EPCC and O&M services.
Capacity Expansion
Current capacity is reflected in a healthy order book of INR 388 Cr as of October 2025, to be executed over the next 18-24 months. Revenue is projected to expand to INR 200-210 Cr by fiscal 2026.
Raw Material Costs
Total expenses rose 7.74% to INR 141.85 Cr in FY25, driven by growth-focused investments in stock-in-trade and direct project execution costs.
Manufacturing Efficiency
Operational momentum is driven by effective project execution in the Oil & Gas and O&M segments, maintaining a net margin of ~10% despite competitive bidding.
Strategic Growth
Expected Growth Rate
25-31%
Growth Strategy
Growth will be achieved through geographical diversification, increasing order sizes, and leveraging a healthy order book of INR 388 Cr. The company is transitioning to a better-capitalized structure following its IPO to support larger-scale project execution.
Products & Services
EPCC (Engineering, Procurement, Construction, and Commissioning) services, Integrated Operation and Maintenance (O&M), and Special Services for the Oil & Gas, Power, and Data Center sectors.
Brand Portfolio
Lakshya Powertech Limited.
New Products/Services
The Data Center segment is a significant new contributor, already accounting for 18.17% (INR 29.10 Cr) of total revenue in FY25.
Market Expansion
Targeting geographical diversification to increase revenue from INR 160 Cr in FY25 to over INR 200 Cr in FY26.
Strategic Alliances
The company operates through joint operations in India, as noted in the auditor's responsibility section regarding internal financial controls.
External Factors
Industry Trends
The industry is evolving toward high-value engineering services and data center infrastructure, with Lakshya positioning itself as a one-stop solution provider to counter domestic and global competition.
Competitive Landscape
Highly fragmented and competitive, featuring both organized domestic players and international service providers in the high-value engineering space.
Competitive Moat
Moat is derived from the promoters' 20+ years of experience and a proven track record of project execution with major PSUs, which is sustainable due to high entry barriers in specialized engineering services.
Macro Economic Sensitivity
Sensitive to infrastructure spending and the cyclicality of the EPC industry; slowdowns in new order inflows from PSUs would directly impact the order book.
Consumer Behavior
Not applicable for B2B/B2G services, but demand is driven by government and private entity capital expenditure in energy and data infrastructure.
Regulatory & Governance
Industry Regulations
Operations are governed by the Companies Act 2013 and SEBI (LODR) Regulations 2015. Technical operations are subject to industry-specific safety and manufacturing standards for Oil & Gas and Power sectors.
Taxation Policy Impact
The company utilizes effective tax planning, which supported an 8.2% rise in PAT in FY25.
Legal Contingencies
Not disclosed in available documents; however, the company noted minor discrepancies in quarterly returns filed with banks (e.g., a difference of INR 1,360.28 lakhs in reported stock for Q2 FY25 due to inadvertent entry errors).
Risk Analysis
Key Uncertainties
Tender-based revenue volatility and susceptibility of operating margins to volatile input prices are the primary risks, with potential impact on profitability if price escalation clauses are insufficient.
Geographic Concentration Risk
Not disclosed, but the company is actively seeking to reduce concentration through diversification.
Third Party Dependencies
Dependent on government and private entities for tender awards and on suppliers for credit to manage the large working capital cycle.
Technology Obsolescence Risk
Identified as a threat in the high-value engineering services space, requiring continuous delivery excellence.
Credit & Counterparty Risk
Receivables stood at 153 days in FY25, with payments received on a milestone basis, creating inherent credit exposure to project timelines.
