💰 Financial Performance

Revenue Growth by Segment

Not disclosed in available documents. However, the company secured new work orders totaling INR 282.78 lakhs in Q3 FY26, including a substation O&M contract worth INR 206.13 lakhs and an airport lighting project worth INR 76.65 lakhs.

Geographic Revenue Split

100% of identified new project revenue is domestic (India), split between Vishakhapatnam, Andhra Pradesh (73% of new orders) and Aurangabad, Maharashtra (27% of new orders).

⚙️ Operational Drivers

Raw Materials

LED light fittings (representing a significant portion of the INR 76.65 lakhs Aurangabad project) and electrical components for 132kV/11kV substation maintenance.

📈 Strategic Growth

Growth Strategy

The company is focusing on the Operation and Maintenance (O&M) segment for critical infrastructure, such as BARCF substations, and energy-efficiency retrofitting (LED replacement) at airports to secure recurring service-based revenue.

Products & Services

Annual Operation and Maintenance (O&M) for 132kV/11kV substations, LT systems maintenance, and LED light fitting installation/replacement services.

Brand Portfolio

Abhishek Integrations Limited (AIL).

New Products/Services

Energy-efficient LED lighting solutions for aviation infrastructure, contributing INR 76.65 lakhs in the current period.

Market Expansion

Expansion into specialized government facilities (BARCF) and aviation infrastructure (Aurangabad Airport) within the Indian market.

🌍 External Factors

Industry Trends

The industry is shifting toward energy-efficient lighting (LED) and outsourcing the O&M of high-voltage electrical infrastructure to specialized private players to ensure 24/7 operational reliability.

Competitive Landscape

The company competes in the SME segment for government tenders, where selection is primarily based on L1 (lowest cost) criteria among technically qualified bidders.

Competitive Moat

Technical qualification to handle high-voltage (132kV) substations at sensitive facilities like BARCF provides a service-based moat due to high entry barriers for uncertified contractors.

Macro Economic Sensitivity

Sensitivity to government infrastructure spending and energy efficiency mandates (LED adoption) which drive O&M and retrofitting contracts.

Consumer Behavior

Not applicable as the company serves B2B and B2G (Government) segments.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with electrical safety standards for 132kV/11kV systems and aviation-specific lighting standards at airports.

Taxation Policy Impact

Contracts are inclusive of GST; changes in GST slabs for electrical services would directly affect project profitability.

⚠️ Risk Analysis

Key Uncertainties

Execution risk in high-security zones (BARCF) and potential delays in government payment cycles for the INR 282.78 lakhs in new orders.

Geographic Concentration Risk

Revenue is concentrated in specific project sites in Gujarat (Headquarters), Andhra Pradesh, and Maharashtra.

Third Party Dependencies

Heavy reliance on government tender awards and the National Stock Exchange (NSE) Emerge platform for regulatory compliance exemptions.

Technology Obsolescence Risk

Risk of LED technology evolving rapidly, requiring constant updates to procurement specifications for airport projects.

Credit & Counterparty Risk

Counterparty risk is low as primary clients are government-linked entities (BARCF, Airport authorities), though payment timelines may be extended.