1. At a Glance – “From IT Company to Movie Producer to Back Again?”
Anka India Ltd is that one stock which, if balance sheets could talk, would say: “Bhai bas rehne do.”
Market cap sits at ₹183 Cr, stock price at ₹35.6, down ~41% in 3 months, but somehow still up 75% YoY — because Indian markets love redemption arcs more than Netflix does.
Latest Q3 FY26 sales are ₹3.94 Cr, PAT is -₹0.03 Cr, and EPS is -₹0.01. So yes, technically still loss-making, but with just enough improvement to keep hope alive and Telegram groups excited.
Promoter holding? 91.29%.
Debt? ₹3.18 Cr.
Book value? ₹5.23.
Price-to-book? 6.8× — because vibes > fundamentals, clearly.
And just when you think it’s a dead IT shell, boom 💥 — acquisition, open offer, preferential allotment, auditor qualifications, goodwill impairments, and suddenly everyone is awake.
Curious already? Good. You should be.
2. Introduction – How Anka Became a Zombie, Then a Cyborg
Founded in 1994, Anka India Ltd originally claimed to be in Information Technology — data analytics, BI, infra solutions, custom app development, the whole buzzword buffet.
Then reality hit.
For multiple years, operations were practically non-existent, net worth got fully eroded, and the board openly admitted:
“We are looking for new ventures and trying to restart operations.”
Translation: IT gaya, bhai.
What followed was a phase where Anka flirted with:
- Film production 🎬 (Bhojpuri & Marathi rights)
- Line producer work in the UK
- MoUs that sounded exciting but didn’t pay the bills
By FY21, total revenue was barely ₹1.45 Cr. Losses were routine. Net worth negative. Balance sheet looked like it had survived a cyclone.
Then comes 2025–26, the year where promoters changed, capital structure exploded, and Anka decided to stop
being a movie trivia answer and start acting like a listed company again.
But is this a turnaround… or just a costume change? Let’s dig.
3. Business Model – WTF Do They Even Do?
Officially, Anka still says it does:
- Data Analytics & BI
- Enterprise IT solutions
- Custom software development
Unofficially (read filings, not brochures), the real operating engine today is the acquisition of Futech Internet Pvt Ltd.
Before that:
- IT operations were minimal
- Film rights sat on the books doing nothing productive
- Revenue visibility was close to zero
Post-acquisition:
- Consolidated sales jumped to ₹12.96 Cr in FY25
- Quarterly sales now hover around ₹4–6 Cr
- Assets ballooned
- Equity base tripled
So the current “business model” is basically:
Buy an operating company, reverse-merge life into the listed shell, pray auditors cooperate.
Simple. Risky. Very Indian.
Does this excite you or scare you? Be honest.
4. Financials Overview – Numbers Don’t Lie, But They Do Smirk
📊 Quarterly Comparison Table (₹ Cr)
| Metric | Latest Qtr (Dec’25) | YoY Qtr (Dec’24) | Prev Qtr (Sep’25) | YoY % | QoQ % |
|---|---|---|---|---|---|
| Revenue | 3.94 | 4.89 | 5.61 | -19.4% | -29.8% |
| EBITDA | 0.33 | -0.14 | 0.40 | NA | -17.5% |
| PAT | -0.03 | -0.38 | 0.10 | +92.1% | -130% |
| EPS (₹) | -0.01 | -0.25 | 0.02 | +96% | -150% |
EPS is negative
Commentary:
Revenue dipped QoQ, but margins improved. PAT swung back into red after a profitable Sep quarter.
