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Ahluwalia Contracts (India) Ltd

₹ 912-2.81%
07 Jan – close price
🔗acilnet.com•BSE: 532811•NSE: AHLUCONT
Market Cap₹ 6,093 Cr.
Current Price₹ 912
High / Low₹ 1,129
Stock P/E23.2
Book Value₹ 288
Dividend Yield0.07 %
ROCE18.4 %
ROE11.8 %
Face Value₹ 2.00
Sales₹ 4,350 Cr.
OPM9.72 %
Mar Cap₹ 6,093 Cr.

ABOUT

Company is engaged in engineering and contract construction, delivering state of-the-art infrastructure and buildings projects for clients in India.Company has experiences in working on residential, commercial, institutional, corporate offices, power plants, hospitals, hotels, IT parks, Metro stations and depots, and automated car parking lots for Government as well as private clients.[1]

KEY POINTS

OfferingsThe company specializes in engineering and constructing large-scale infrastructure projects, many of which hold national significance. It isone of India's oldest construction firmsand handles civil construction and turnkey project execution across various sectors, including residential and commercial buildings, hotels, institutional and hospital facilities, corporate offices, IT parks, and industrial complexes.[1][2]

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsRevenue GuidanceAsset Base ExpansionOrder Book PositionLarge Order ReceiptsJv Partnerships AcquisitionsRevenue Guidance Vs ActualsCredit Rating UpdatesRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Larsen & Toubro4157.0035.57571732.320.824678.0115.6367983.5310.4414.49270722.5112.6716074.883926.095.644.981.32
2.Rail Vikas357.4065.5674435.520.48230.52-19.735122.975.5214.7220026.004.701135.41230.297.806.400.52
3.NBCC116.0546.9131330.860.58156.6925.712910.2018.9933.1712751.715.04667.83153.5211.734.680.00
4.IRB Infra.Devl.42.3329.2125569.190.71140.8241.001751.0210.427.828024.6748.08875.41140.821.252.011.02
5.Kalpataru Proj.1173.7024.3119958.360.77237.3991.276528.5732.4315.9525498.998.25821.04240.052.882.360.69
6.KEC International717.0527.9519094.430.77160.7588.216091.5619.1317.9823335.947.26683.11160.753.382.750.94
7.Ircon Intl.177.4227.7716682.861.49136.51-32.681976.75-19.2311.609787.967.43600.65138.652.583.740.80
8.Ahluwalia Contr.911.9523.196092.690.0779.05106.071177.3016.3918.424349.989.72262.7179.053.175.830.04
–Median: 116 Co.132.9818.54526.960.09.2123.05149.5710.7318.3510.6712.7931.749.162.266.930.44

Quarterly Results

Standalone figures in ₹ crores

Dec 2022Dec 2023Dec 2024Jun 2023Jun 2024Jun 2025Mar 2023Mar 2024Mar 2025Sep 2022Sep 2023Sep 2024Sep 2025
Sales
7431,0269527649191,0058631,1641,2166239021,0111,177
Expenses
6729158686818599197531,0591,0925618129381,049
Operating Profit
7111284836086110104124629073129
Other Income
791571116920718781215
Profit before tax
60956767416998269112527453106
Tax %
25%26%26%26%26%26%26%26%26%25%25%27%26%
Net Profit
457149503151722008339553879
EPS in Rs
6.7210.557.377.424.577.6310.7829.8312.415.848.265.7311.80

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
9601,0601,2501,4271,6471,7551,8851,9822,6922,8383,8554,0994,350
Expenses
9199451,0891,2531,4271,5381,7321,8282,4352,5343,4673,7573,927
Operating Profit
42115161174219216153154257304389342423
Other Income
2811138610102228302325564
Interest
36393527251935434433485854
Depreciation
12212024262832303439676778
Profit before tax
226711913117517997104208262505272354
Net Profit
226484861151176477155194376202263
EPS in Rs
3.469.5712.6012.8817.2317.529.6211.5323.1828.9856.0630.0839.21
Dividend Payout %
0%0%0%0%2%2%0%0%1%1%1%2%–

Compounded Profit Growth

10 Years:12%
5 Years:26%
3 Years:9%
TTM:33%

Compounded Sales Growth

10 Years:14%
5 Years:17%
3 Years:15%
TTM:6%

Return on Equity

10 Years:15%
5 Years:14%
3 Years:15%
Last Year:12%

Stock Price CAGR

10 Years:13%
5 Years:28%
3 Years:21%
1 Year:-7%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
13131313131313131313131313
Reserves
2143244094926097257918671,0231,2161,5891,7871,913
Borrowings
239173142903061916854581057675
Other Liabilities
5865325936376016898651,1149571,2071,4891,8311,947
Total Liabilities
1,0511,0421,1571,2331,2531,4891,7602,0622,0472,4943,1963,7073,947
Fixed Assets
131116113192184186221230223288331451545
Gross Block
333.92334.56349.12215.67232.90261.26327.45366.39388.87489.86594.76776.24–
Accumulated Depreciation
203.19218.13236.3423.2048.4975.07106.67136.87166.29202.00263.53325.43–
CWIP
68788400000017120
Investments
1667666666666
Other Assets
8518419541,0341,0621,2961,5331,8261,8182,1992,8523,2383,396
Total Assets
1,0511,0421,1571,2331,2531,4891,7602,0622,0472,4943,1963,7073,947

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
289877126818611025966301257359
Cash from Investing Activity
216-25-9-20-43-46-48-101-166-310-323
Cash from Financing Activity
-45-98-58-70-7019-36-51-44-1621-52
Net Cash Flow
-1516-648-86227160-79120-31-16

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
154144146116125108966960787170
Inventory Days
13811212312591719011972656369
Days Payable
233182177177182202212257183180139172
Cash Conversion Cycle
5874926434-23-27-69-52-37-6-33
Working Capital Days
-37-1429164151403133396056
ROCE %
10%22%29%27%32%27%16%16%25%25%24%18%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
55.32%55.32%55.32%55.32%55.32%55.32%55.32%55.32%55.32%55.32%55.32%55.32%
FIIs
12.19%11.50%11.75%12.60%12.66%13.32%13.25%12.85%12.51%12.07%12.44%12.85%
DIIs
27.19%27.97%27.40%26.65%26.40%26.04%25.32%24.96%24.70%24.33%24.26%23.80%
Public
5.31%5.21%5.55%5.43%5.61%5.32%6.11%6.87%7.48%8.27%7.98%8.01%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

SEBI Warns Ahluwalia Contracts for Risk Committee Meeting Gap; Company Responds

7th April 2026, 6:37 pm

Ahluwalia Contracts' Credit Ratings Reaffirmed with Enhanced Bank Facilities

7th April 2026, 6:15 pm

Ahluwalia Contracts Clarifies SEBI LODR Non-Compliance on Risk Management Committee Meetings

7th April 2026, 6:03 pm

Ahluwalia Contracts: Registrar Confirms No Demat Requests for Q4 FY26

6th April 2026, 5:43 pm

Ahluwalia Contracts Closes Trading Window from April 1st for Financial Results

28th March 2026, 4:27 pm

Published by Other Websites

External media mentions & references

HDFC Bank Chairman Exits; Nazara, Belrise, MDL Secure Major Deals

19th March 2026, 8:03 am

March 19: Key Indian Stocks on Watchlist for Potential Trading Action

19th March 2026, 7:33 am

Ahluwalia Contracts Surges 3% After Securing Rs 393 Cr Airport Order

18th March 2026, 6:26 pm

Ahluwalia Contracts Wins ₹393 Cr Rajasthan Airport Deal

18th March 2026, 4:25 pm

India's Airport Boom: Rs 91,000 Cr Infra Wave Lifts GMR, L&T, NCC

12th March 2026, 6:14 am

News Articles

Editorial & research coverage

India Budget 2026: Tech, Infra Lead, Markets React Negatively
India Budget 2026: Tech, Infra Lead, Markets React Negatively

2nd February 2026, 1:01 pm

India Inc's Order Bonanza: Rs 12,444 Cr Inflow Sparks Infrastructure Surge!
India Inc's Order Bonanza: Rs 12,444 Cr Inflow Sparks Infrastructure Surge!

20th December 2025, 10:13 am

Construction Giant Ahluwalia Contracts Lands Massive ₹888 Crore Sacred Project Order! Divine Development Deal Sparks Investor Buzz!
Construction Giant Ahluwalia Contracts Lands Massive ₹888 Crore Sacred Project Order! Divine Development Deal Sparks Investor Buzz!

16th December 2025, 6:02 pm

Indian Markets End 6-Day Rally: Top 3 Price-Volume Breakout Stocks Emerge Amidst Sectoral Weakness
Indian Markets End 6-Day Rally: Top 3 Price-Volume Breakout Stocks Emerge Amidst Sectoral Weakness

18th November 2025, 8:42 pm

Documents

Announcements

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

2d - Certificate under Reg 74(5) from RTA MUFG Intime for quarter ended 31-Dec-2025.

Closure of Trading Window

30 Dec - Trading window closed from Jan 1, 2026 until 48 hours after unaudited results for quarter/nine months ended 31-12-2025.

Announcement under Regulation 30 (LODR)-Credit Rating

20 Dec - Ahluwalia Contracts: CARE AA-;Stable and CARE A1+ reaffirmed for bank facilities on Dec 20, 2025.

Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order

16 Dec - Awarded Rs.888.38 Crore EPC civil construction contract by Bihar State Tourism; 42-month execution for Shri Ram Janmabhoomi Tirtha Kshetra project.

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome

21 Nov 2025 - 2QFY26 revenue Rs1,177.30 crore; PAT Rs79.45 crore; net orderbook Rs18,057.6 crore; FY26 capex ~Rs400 crore

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2013

(from nse)

Financial Year 2012

(from bse)

Credit Ratings

Rating update

30 Dec from care

Rating update

6 Jan 2025 from care

Rating update

5 Apr 2024 from care

Rating update

24 Aug 2023 from care

Rating update

15 Dec 2022 from care

Rating update

21 Feb 2022 from care

Concalls

Nov 2025

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Stock Analysis

Description

  1. Ahluwalia Contracts (India) Limited is a prominent Indian company specializing in engineering, design, and construction, executing large-scale infrastructure and building projects for both government and private clients across various sectors.

Key Growth Triggers

  1. Secured a significant ₹3069.70 Cr EPC contract from CPWD for the Central Vista Project, enhancing order book and revenue visibility.
  2. Strong Q2 FY26 performance with PAT up 106% YoY to ₹791 Mn and revenue up 16.5% YoY to ₹11,923 Mn, driven by effective project execution.
  3. Reiterate d FY26 revenue growth guidance of 15-20% and expectation of double-digit EBITDA margins, with stronger H2 performance anticipated.
  4. Maintaining a zero-debt status provides financial flexibility and reduces risk.

Order Book

  1. Order Book: As of September 30, 2025, the unexecuted order book stood at ₹180,576 Mn. A new ₹3069.70 Crores EPC contract awarded on January 16, 2026, by CPWD further enhances the total order backlog.

Key Red Flags

  1. Contingent liabilities of Rs.2,507 Cr.
  2. Dividend payout has been low at 1.42% of profits over last 3 years.
  3. FY25 annual PAT declined by 46.12% YoY, primarily due to the absence of a substantial exceptional gain in FY24.

Key Dates To Watch

  1. Board Meeting to approve Q3 and nine-month FY26 results: Date to be announced.
  2. Trading window closure for Q3 FY26 results: Effective January 1, 2026.

Corporate Announcements

7th Apr 26
Impact Rating: 6
SEBI has warned Ahluwalia Contracts (India) Limited for exceeding the 180-day limit between its Risk Management Committee meetings, with a 270-day gap observed. The company's response was dated April 7, 2026.
7th Apr 26
Impact Rating: 8
Ahluwalia Contracts (India) Ltd has secured reaffirmation of its credit ratings from CARE Rating. The ratings cover ₹186.00 crore for long-term bank facilities and ₹2,954.00 crore for long/short-term bank facilities, both showing enhancements.
7th Apr 26
Impact Rating: 5
Ahluwalia Contracts India Limited clarified a SEBI LODR non-compliance issue related to the Risk Management Committee's meeting frequency, where the gap exceeded 180 days. The company received a warning letter from NSE for this.
6th Apr 26
Impact Rating: 2
Ahluwalia Contracts (India) Ltd received confirmation from its registrar, MUFG Intime India Private Limited, stating no demat requests were processed during the quarter ended March 31, 2026, as per SEBI regulations.
28th Mar 26
Impact Rating: 5
The trading window for Ahluwalia Contracts will be shut from April 1, 2026, until 48 hours post the declaration of audited financial results for the quarter and year ended March 31, 2026.