EKI Energy Services Ltd

Revenue collapsed 70% in 15 months: ₹62.41 Cr (Dec 2024) to ₹18.47 Cr (Mar 2026), signalling client concentration or loss of major contracts.

Profitability swung from -₹7.82 Cr loss (Mar 2026) to ₹4.69 Cr profit (Dec 2024); operating margins ranged -20.84% to +22.91%, indicating project mix sensitivity or fixed-cost scale issues.

Stock down 27.85% in 1 year despite low debt (D/E 0.01), suggesting investor concern about demand durability or execution capability.

Dividend paid Feb 2025 despite losses in recent quarters; verify whether cash position and dividend policy can sustain if profitability does not recover.

Sep 2025 quarter achieved ₹34.35 Cr revenue at 9.54% OPM; returning to this level would reverse Mar 2026's -₹7.82 Cr loss.

Dec 2024 demonstrated ₹62.41 Cr revenue at 11.79% OPM profit; verify what drove that peak and whether it reflects a repeatable contract type or client.

Very low debt (D/E 0.01) removes financial constraints on reinvestment in sales and delivery if contract recovery occurs.

Consulting services to industrials typically correlate with capex cycles; verify EKI's exposure to high-growth subsectors and visibility into client demand.