Announcement • May 22
Athena Constructions Limited to Report Fiscal Year 2026 Results on May 28, 2026 Athena Constructions Limited announced that they will report fiscal year 2026 results on May 28, 2026 Board Change • May 14
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Women Director Asha Maheshwari was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Apr 15
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Women Director Asha Maheshwari was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Mar 24
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Women Director Asha Maheshwari was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Mar 04
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Women Director Asha Maheshwari was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Jan 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Women Director Asha Maheshwari was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Jan 08
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Women Director Asha Maheshwari was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Nov 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₹27m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹27m free cash flow). Shares are highly illiquid. Earnings have declined by 50% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (₹51.0m market cap, or US$575.0k). Announcement • Nov 11
Athena Constructions Limited to Report Q2, 2026 Results on Nov 14, 2025 Athena Constructions Limited announced that they will report Q2, 2026 results on Nov 14, 2025 Board Change • Nov 06
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Women Director Asha Maheshwari was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Sep 10
Athena Constructions Limited, Annual General Meeting, Sep 30, 2025 Athena Constructions Limited, Annual General Meeting, Sep 30, 2025, at 12:30 Indian Standard Time. Location: 203, a-wing, shyam kamal, tejpal rd, vile parle east, mumbai 400057, India Board Change • Jun 30
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Independent Women Director Asha Maheshwari was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • May 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹88m free cash flow). Shares are highly illiquid. Earnings have declined by 5.0% per year over the past 5 years. Revenue is less than US$1m (₹35k revenue, or US$408). Market cap is less than US$10m (₹65.4m market cap, or US$767.9k). Minor Risk Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Announcement • May 22
Athena Constructions Limited to Report Q4, 2025 Results on May 27, 2025 Athena Constructions Limited announced that they will report Q4, 2025 results on May 27, 2025 Board Change • Apr 29
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Independent Women Director Asha Maheshwari was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Mar 11
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Independent Women Director Asha Maheshwari was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Feb 13
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Independent Women Director Asha Maheshwari was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Jan 04
New major risk - Revenue and earnings growth Earnings have declined by 5.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹88m free cash flow). Shares are highly illiquid. Earnings have declined by 5.0% per year over the past 5 years. Revenue is less than US$1m (₹35k revenue, or US$405). Market cap is less than US$10m (₹62.6m market cap, or US$730.2k). Announcement • Oct 31
Athena Constructions Limited to Report Q2, 2025 Results on Nov 07, 2024 Athena Constructions Limited announced that they will report Q2, 2025 results on Nov 07, 2024 Announcement • Sep 18
Athena Constructions Limited, Annual General Meeting, Sep 30, 2024 Athena Constructions Limited, Annual General Meeting, Sep 30, 2024, at 12:30 Indian Standard Time. Location: office no. 203, a-wing, shyam kamal, tejpal road, vile parle east, mumbai 400057, mumbai India Reported Earnings • Jun 05
Full year 2024 earnings released: ₹0.22 loss per share (vs ₹0.03 profit in FY 2023) Full year 2024 results: ₹0.22 loss per share (down from ₹0.03 profit in FY 2023). Net loss: ₹1.66m (down ₹1.88m from profit in FY 2023). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. New Risk • May 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Shares are highly illiquid. Revenue is less than US$1m (₹8.9m revenue, or US$108k). Market cap is less than US$10m (₹60.5m market cap, or US$728.6k). Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Announcement • May 19
Athena Constructions Limited to Report Q4, 2024 Results on May 31, 2024 Athena Constructions Limited announced that they will report Q4, 2024 results on May 31, 2024 Board Change • Apr 08
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Independent Women Director Asha Maheshwari was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Feb 09
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Independent Women Director Asha Maheshwari was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jan 10
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Independent Women Director Asha Maheshwari was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 10
First half 2024 earnings released: EPS: ₹0.24 (vs ₹0.21 in 1H 2023) First half 2024 results: EPS: ₹0.24 (up from ₹0.21 in 1H 2023). Revenue: ₹7.50m (up 88% from 1H 2023). Net income: ₹1.83m (up 17% from 1H 2023). Profit margin: 24% (down from 39% in 1H 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 12% per year. Board Change • Nov 06
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Independent Women Director Asha Maheshwari was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Nov 04
Athena Constructions Limited to Report Q2, 2024 Results on Nov 08, 2023 Athena Constructions Limited announced that they will report Q2, 2024 results on Nov 08, 2023 Announcement • Sep 08
Athena Constructions Limited, Annual General Meeting, Sep 30, 2023 Athena Constructions Limited, Annual General Meeting, Sep 30, 2023, at 11:00 Indian Standard Time. Location: 203, Shyam Kamal A Wing, Tejpal Road, Vile Parle East Mumbai India Agenda: To receive, consider, approve and adopt the Audited Financial Statement comprising of Balance sheet as at 31 March 2023, Profit and Loss Account for the year ended on that date, Cash Flow Statement and the Notes together with the director's report and auditor's report thereon;. Board Change • Aug 08
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Independent Women Director Asha Maheshwari was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • May 21
Investor sentiment deteriorates as stock falls 36% After last week's 36% share price decline to ₹12.40, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 23x in the Real Estate industry in India. Total loss to shareholders of 23% over the past year. Announcement • May 19
Athena Constructions Limited to Report Second Half, 2023 Results on May 26, 2023 Athena Constructions Limited announced that they will report second half, 2023 results on May 26, 2023 Valuation Update With 7 Day Price Move • May 05
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₹19.27, the stock trades at a trailing P/E ratio of 28.8x. Average trailing P/E is 24x in the Real Estate industry in India. Total returns to shareholders of 33% over the past year. Board Change • May 05
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Independent Women Director Asha Maheshwari was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Mar 10
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Independent Women Director Asha Maheshwari was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Feb 08
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Independent Women Director Asha Maheshwari was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Nov 17
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Independent Women Director Asha Maheshwari was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Nov 05
Athena Constructions Limited to Report Q2, 2023 Results on Nov 14, 2022 Athena Constructions Limited announced that they will report Q2, 2023 results on Nov 14, 2022 Board Change • Sep 21
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Independent Women Director Asha Maheshwari was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Sep 08
Athena Constructions Limited, Annual General Meeting, Sep 30, 2022 Athena Constructions Limited, Annual General Meeting, Sep 30, 2022, at 11:00 Indian Standard Time. Location: Office No. 203, A-Wing, Shyam Kamal, Tejpal Road, Vile Parle East, Mumbai 400057 Mumbai India Agenda: To discuss Adoption of Audited Financial Statements of the Company; and to discuss Appointment of Statutory Auditor;. Valuation Update With 7 Day Price Move • May 25
Investor sentiment deteriorated over the past week After last week's 28% share price decline to ₹11.76, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 26x in the Real Estate industry in India. Total loss to shareholders of 29% over the past three years. Announcement • May 24
Athena Constructions Limited to Report Second Half, 2022 Results on May 30, 2022 Athena Constructions Limited announced that they will report second half, 2022 results on May 30, 2022 Valuation Update With 7 Day Price Move • May 11
Investor sentiment improved over the past week After last week's 16% share price gain to ₹16.25, the stock trades at a trailing P/E ratio of 22.7x. Average trailing P/E is 28x in the Real Estate industry in India. Total returns to shareholders of 1.6% over the past three years. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Independent Women Director Asha Maheshwari was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improved over the past week After last week's 16% share price gain to ₹14.00, the stock trades at a trailing P/E ratio of 19.6x. Average trailing P/E is 28x in the Real Estate industry in India. Total loss to shareholders of 11% over the past three years. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improved over the past week After last week's 18% share price gain to ₹9.30, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 37x in the Real Estate industry in India. Total loss to shareholders of 57% over the past three years. Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹4.16, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 25x in the Real Estate industry in India. Total loss to shareholders of 69% over the past three years. Board Change • Dec 03
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Independent Women Director Asha Maheshwari was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Nov 09
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Independent Women Director Asha Maheshwari was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Oct 19
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Independent Women Director Asha Maheshwari was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jul 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Women Director Asha Maheshwari was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Dec 10
Athena Constructions Limited, Annual General Meeting, Dec 30, 2020 Athena Constructions Limited, Annual General Meeting, Dec 30, 2020, at 11:00 Indian Standard Time. Location: at Office No. 203, A-Wing, Shyam Kamal, Tejpal Road Mumbai Maharashtra India Agenda: To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended March 31, 2020 including the Audited Balance Sheet as at March 31, 2020, the Statement of Profit & Loss for the year ended on that date together with the reports of the Board of Directors and Auditor thereon; to consider ratification of the appointment of statutory auditor; and to consider other matters. 
