Antariksh Industries Limited

Real Estate — Real Estate Services · BSE

₹23.43+₹0.45 (+1.96%)

DalalBaazaar Score

43 / 100

🟡 Moderate

Verdict

CAUTION

Risk

High

Driven by the company is currently loss-making, micro-cap size, which brings thin liquidity, falling profits.

In simple words: The company is currently losing money, but sales are shrinking. The direction of profits is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:03 pm

Understanding the Business

Company site ↗

The 60-second version of Antariksh Industries Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Antariksh Industries Limited engages in the real estate and trading activities in India. The company offers logistics services; and trades in various materials for the construction of warehouses/godowns, etc.

IndustryReal Estate Services

SectorReal Estate

Employees3

Annual revenue₹5 Cr

How does it make money?

Turns over ₹5 Cr a year. Of every ₹100 of sales, about ₹1 reaches shareholders as profit, with ₹2 left at the operating level before interest, tax and depreciation. Each of its 3 employees supports ₹1.72 Cr of revenue a year, the signature of a capital- or asset-led business.

Revenue / employee₹1.72 Cr

Who are its competitors?

The closest listed comparisons in its industry are DLF LIMITED, GODREJ PROPERTIES LTD, OBEROI REALTY LIMITED. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Little sign of one

Returns on capital of 5.2% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

Peer median ROE10.3%

What has been driving growth?

Growth has come mainly from selling more, rather than from keeping more of each sale. Over 3 years revenue moved -57% while net margin moved -24% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect-57%

Margin effect-24%

DalalBaazaar Score

43/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ Revenue has contracted at 24.3% a year
✗ Profit has declined at 30.9% a year
✗ Latest-year revenue growth of -88.2% is below the longer-term trend — momentum is fading
✗ Profit fell 88.8% in the latest year

Quality vs. Valuation

Company Quality

40/ 100

Weak

How good the business is, ignoring the share price entirely.

Valuation

37/ 100

Expensive

What you are being asked to pay, ignoring how good the business is.

Weak on business quality and not cheap enough to compensate.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

N/A

No P/E — the company is lossmaking

EV/EBITDA

62.7x

PEG

—

What's Good / What's Bad

🟢 What's Going Well2

Cash flow has turned positive
Free cash flow moved from negative to positive over 3 years.
Consistently profitable
Profitable in every one of the last 4 reported years.

🔴 What Needs Attention2

Return on equity is falling
ROE has dropped from 20.7% to 3.7% — each rupee of shareholder capital earns less than it did.
Return on capital is falling
ROCE has declined from 27.9% to 5.2% — often a sign of competition or overexpansion.

Red Flags

1 item require attention · 1 watch

🟡Profit is decliningFinancial
Net profit is down 67% over 3 years.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Earnings have proved durable
Profitable in every one of the last 4 reported years. Consistency lowers the risk that any single bad year is structural rather than cyclical.

🔴 Bear CaseWhat could go wrong?

Returns on shareholder capital are falling
ROE has dropped from 20.7% to 3.7%. Each rupee of equity earns less than it did, so profit growth increasingly depends on raising more capital rather than on the existing base working harder.
Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1EBITDA margin holds above 0%✓ 1.7%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Free cash flow remains positive✓ ₹0 Cr
Profit that never becomes cash eventually stops being profit.
3ROCE stays above 8%✗ 5.2%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

4 / 10 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✓ Generates positive free cash flow
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✗ Revenue growing year-over-year
✗ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✗ Not buying right at the 52-week high
✓ Short-term technical trend isn't bearish

Price history

Quick Metrics

3 good · 2 neutral · 6 weak

Market Cap

₹6 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not meaningful

Loss-making

Earnings are negative, so a P/E multiple can't be read here

P/B Ratio

0.29x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹-3.43

Loss-making

Negative earnings per share — the business is losing money

ROE

3.7%

Weak

Weak capital efficiency

ROCE

5.2%

Weak

Low return on total capital employed

Debt/Equity

Not available

No data

Source didn't return this field

Revenue Growth (YoY)

-88.2%

Shrinking

Sales are contracting

Profit Growth (YoY)

-88.8%

Falling

Profits are shrinking

Dividend Yield

2.13%

Healthy

Meaningful cash return while you hold the stock

Free Cash Flow

₹0 Cr

Cash generative

Generates cash even after funding its capex

More Metrics

Operating Margin

-2.6%

Weak

Thin margins leave little room for error

Net Margin

-4.1%

Weak

Very little revenue reaches the bottom line

Current Ratio

23.26

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.38

Defensive

Steadier than the market

52W Range Position

100%

Near high

Near its 52-week high

Technical Snapshot

SMA 20 / SMA 50

19.7 / 16.5

Bullish alignment (short > long)

Price vs SMA 200

Above

Long-term uptrend

RSI (14)

100.0

Overbought zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹12 Cr	₹14 Cr	₹44 Cr	₹5 Cr	-24.3%
EBITDA	₹0 Cr	₹0 Cr	₹1 Cr	₹0 Cr	-29.5%
EBITDA Margin	2.1%	1.6%	1.7%	1.7%	—
PAT (Net Profit)	₹0 Cr	₹0 Cr	₹1 Cr	₹0 Cr	-30.9%
EPS	₹8.48	₹7.54	₹29.54	₹3	-29.3%
ROE	20.7%	15.6%	34.1%	3.7%	—
ROCE	27.9%	21.1%	46.1%	5.2%	—
Free Cash Flow	-₹0 Cr	₹0 Cr	-₹0 Cr	₹0 Cr	—

🔴 Revenue has shrunk at 24.3% a year over 3 years.

🔴 EBITDA has shrunk at 29.5% a year over 3 years.

🟡 EBITDA Margin has held roughly flat at 1.7% over 3 years.

🔴 PAT (Net Profit) has shrunk at 30.9% a year over 3 years.

🔴 EPS has shrunk at 29.3% a year over 3 years.

🔴 ROE has fallen from 20.7% to 3.7% over 3 years (-17.1 pts).

🔴 ROCE has fallen from 27.9% to 5.2% over 3 years (-22.6 pts).

🟢 Free Cash Flow has turned positive, from -₹0 Cr to ₹0 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹2 Cr

Total Liabilities

₹0 Cr

Total Debt

—

Cash & Equivalents

₹0 Cr

Operating Cash Flow

₹0 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

7.2%

Corporate Actions

Dividend Rate

₹0.5

Ex-Dividend Date

22 Sept 2026

Peer Comparison

Company	P/E	ROE
DLF LIMITED	36.6x	10.3%
GODREJ PROPERTIES LTD	30.2x	8.4%
OBEROI REALTY LIMITED	23.5x	14.7%

Recent News

1 negative5 general

Antariksh Industries open offer at ₹86 per share

scanx.trade, 23 Jun

Antariksh Industries Ltd. Peer Comparison – Compare with Others

Value Research, 30 Aug

Antariksh open offer targets 26% at ₹86 — a huge premium to its ₹2.48 market price

Dealroom, 25 Aug

Antariksh Industries Ltd Downgraded to Sell Amid Weak Fundamentals and Risky Valuation

MarketsMojo, 30 SeptAnalyst view

🔴Potentially negativeAn analyst opinion changing, which moves the price without changing the business.

Antariksh Industries open offer opens Sep 2 at ₹86 per share

scanx.trade, 02 Sept

Antariksh Industries Ltd. Shareholding Pattern – Promoters, FIIs & DIIs

Value Research, 30 Aug

Watch Items

Revenue growth is negative (-88.2%) on the latest reported period — check if this is one-off or a trend.
Trading very close to its 52-week high — momentum-driven entries here carry more mean-reversion risk.
Cross-check against the company's latest quarterly filing / investor presentation before acting.
1 metric couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.
RSI is in overbought territory — momentum entries here carry more short-term pullback risk.

DalalBaazaar Thesis

StrongFinancial Health

MiddlingValuation

WeakBusiness Quality · Growth · Profitability · Risk

Points for each in the Score ↑

Weak on the fundamentals

Poor scores on business quality without a price low enough to compensate. There is no obvious argument for owning this over a stronger company at a similar valuation.

1 of 3 tripwires tripped — ROCE stays above 8% · see Key things to watch ↑