Akash Infra-Projects Limited has filed a Commercial Execution Petition before the Commercial Court in Ahmedabad to enforce an arbitration award against Ahmedabad Municipal Corporation. The petition, filed on June 8, 2026, under Section 36 of the Arbitration and Conciliation Act, 1996, seeks the recovery of a claim amount aggregating to ₹117.84 crore along with interest. The company disclosed this development to the National Stock Exchange of India Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The dispute arises from an Arbitration Award dated January 31, 2022, which was ruled in favour of Akash Infra-Projects Limited. The company has approached the court to secure the awarded amount, which includes interest calculated up to the current date. The filing confirms that since the award is favourable, there will be no negative financial impact on the company.

Litigation Details

The disclosure outlines the specifics of the legal proceedings initiated by the infrastructure builder. The following table summarizes the key details of the litigation:

Financial Implications

The company stated that the quantum of claims is not applicable as the award has been decreed in its favour. Consequently, the enforcement action is not expected to result in any penalties or compensation liabilities. The primary objective of the petition is to realize the financial dues awarded by the arbitral tribunal.

Akash Infra-Projects Limited reported a standalone net profit of ₹56.53 lakh for the financial year ended March 31, 2026, compared to ₹36.05 lakh in the previous year. Revenue from operations for the year increased to ₹5,216.68 lakh from ₹2,651.41 lakh in FY25. The company’s Board of Directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at a meeting held on May 30, 2026.

For the quarter ended March 31, 2026, the standalone net profit stood at ₹44.90 lakh, while revenue from operations was ₹3,069.55 lakh. Total income for the quarter was ₹3,086.12 lakh. The company reported exceptional items amounting to ₹33.80 lakh for the year, attributed to the statutory impact of new Labour Codes notified by the Government of India. This impact arises from restructured employee compensation effective April 1, 2026.

On a consolidated basis, the company reported a net profit of ₹65.10 lakh for FY26, a decrease from ₹89.36 lakh in the previous year. Consolidated revenue from operations rose to ₹8,176.02 lakh from ₹5,799.64 lakh in FY25. For the quarter ended March 31, 2026, the consolidated net profit was ₹64.80 lakh on a total income of ₹3,785.98 lakh. The Group’s operations span two primary segments: Construction and Fuel and Grocery.

The Statutory Auditors, M/s. Arpan & Associates LLP, issued an unmodified opinion on the audited financial results. The auditors noted that trade receivables outstanding for a period exceeding 180 days aggregate to ₹143.99 Crores, with a major portion pertaining to matters presently sub-judice. The financial results were prepared in accordance with Indian Accounting Standards (Ind AS).

Standalone Financial Results

Consolidated Financial Results