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Ashoka Buildcon Ltd

₹ 1691.95%
07 Jan – close price
🔗ashokabuildcon.com•BSE: 533271•NSE: ASHOKA
Market Cap₹ 4,743 Cr.
Current Price₹ 169
High / Low₹ 300
Stock P/E23.5
Book Value₹ 149
Dividend Yield0.00 %
ROCE9.86 %
ROE4.75 %
Face Value₹ 5.00
Sales₹ 6,344 Cr.
OPM8.70 %
Mar Cap₹ 4,743 Cr.

ABOUT

Ashoka Buildcon Ltd is engaged in the business of construction and infrastructure facilities on EPC and BOT basis. It is also involved in the sale of RMC (ready mix and making switchgear concrete).[1]

KEY POINTS

Business Segments1) Construction Contract (63% in 9M FY25 vs 55% in FY23):[1][2]The company undertakes engineering, procurement, and construction (EPC) of road, rail, power projects, etc. It is aFortune India 500 company and one of the leading highway developers in India.[3]As of 9M FY25, the company has constructed 14,000+ lane km of highways and electrified 30,000+ villages through power T&D projects. Additionally, it has completed 750+ Tkms of overhead electrification, linked 170+ Tkms of railway tracks, laid 32,000 km of optical fiber, and built 10+ Mn sq. ft. of buildings.[4][5]

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsRevenue GuidanceCapacity Expansion And ProductsPreferential IssuanceOrder Book PositionLarge Order ReceiptsJv Partnerships AcquisitionsCredit 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.Ashoka Buildcon169.1023.544743.030.00139.1839.851266.10-10.689.866343.568.70201.4550.641.142.050.56
–Median: 116 Co.132.9818.61526.960.09.2123.8149.5710.7318.09510.6712.7231.749.162.266.770.44

Quarterly Results

Standalone figures in ₹ crores

Dec 2022Dec 2023Dec 2024Jun 2023Jun 2024Jun 2025Mar 2023Mar 2024Mar 2025Sep 2022Sep 2023Sep 2024Sep 2025
Sales
1,5592,1341,7921,5321,8771,3112,0442,5001,9751,2801,5611,4181,266
Expenses
1,4421,9571,6291,4621,7561,1881,8932,3141,8321,1681,4171,2991,143
Operating Profit
11717716370121122150186143112144119123
Other Income
31282425242937425038302841149
Profit before tax
891157922574345834379879565169
Tax %
25%25%23%25%28%29%5%22%24%25%25%44%18%
Net Profit
67876116413143526860657136139
EPS in Rs
2.383.092.160.591.451.0915.499.562.122.332.541.294.96

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
1,5571,9671,9382,0062,4463,8213,9373,8184,6456,3727,7277,0616,344
Expenses
1,3581,7171,6971,7642,1533,3053,3523,2974,0895,8397,1506,5155,792
Operating Profit
198250241243293515586520556534576547552
Other Income
325896729869145191-624455332127239
Interest
335967474991857786141228296322
Depreciation
4355675153761118770741059899
Profit before tax
153194203216289417534547-224773575279370
Net Profit
103142139176237286387408-309671443197290
EPS in Rs
4.375.984.956.278.4410.1913.7914.54-10.9923.9115.777.0310.33
Dividend Payout %
23%16%20%17%6%0%0%0%0%0%0%0%–

Compounded Profit Growth

10 Years:3%
5 Years:-14%
3 Years:-30%
TTM:-26%

Compounded Sales Growth

10 Years:14%
5 Years:12%
3 Years:15%
TTM:-20%

Return on Equity

10 Years:12%
5 Years:11%
3 Years:8%
Last Year:5%

Stock Price CAGR

10 Years:3%
5 Years:12%
3 Years:25%
1 Year:-42%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
7979949494140140140140140140140140
Reserves
8549751,6021,6291,8332,0722,4592,8662,5583,2293,6723,8694,039
Borrowings
2244454342001607884474465691,0431,4492,0622,335
Other Liabilities
1,0531,1679401,5271,8412,3082,2662,0492,0992,7873,4723,3213,264
Total Liabilities
2,2102,6663,0703,4503,9275,3095,3125,5015,3667,2008,7349,3939,778
Fixed Assets
203167151169217380349285279282327308306
Gross Block
434.71443.95316.62384.29483.84720.59779.41681.84730.21802.26938.85994.65–
Accumulated Depreciation
232.08277.04165.45215.47266.46340.69430.35396.43451.35520.06611.54686.71–
CWIP
24204161561022282166
Investments
9761,0971,2301,3061,3461,3641,4111,4581,0631,3731,4841,2631,276
Other Assets
1,0081,3821,6851,9592,3483,5593,5423,7564,0235,5176,9207,8058,190
Total Assets
2,2102,6663,0703,4503,9275,3095,3125,5015,3667,2008,7349,3939,778

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
338-75-350442498874113116173410-591
Cash from Investing Activity
-234-91-15-146-334-552-57-206-252-391-28251
Cash from Financing Activity
-103162388-184-18473-448-7425336173318
Net Cash Flow
1-423112146-71237-149-6518301-222

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
44891098312812211611582625266
Inventory Days
––337556538495048454644
Days Payable
––187360265199219205206154167165
Cash Conversion Cycle
4489259-222-71-39-55-40-76-46-69-55
Working Capital Days
-34892314-410866240107
ROCE %
18%18%15%13%17%22%20%19%19%15%12%10%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
54.48%54.48%54.48%54.48%54.48%54.47%54.47%54.47%54.47%54.47%54.47%54.47%
FIIs
2.00%1.90%2.40%2.97%4.51%7.23%7.63%7.95%8.52%7.48%7.29%7.45%
DIIs
19.47%19.67%18.64%19.96%19.72%17.63%19.32%17.79%15.46%14.93%14.16%14.06%
Public
24.05%23.93%24.48%22.60%21.28%20.66%18.57%19.80%21.55%23.12%24.07%24.02%

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

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Ashoka Buildcon Issues Rs 100 Crore Commercial Papers

16th April 2026, 10:36 pm

Ashoka Buildcon Redeems ₹100 Crore Worth of NCDs on Schedule

16th April 2026, 10:27 pm

Ashoka Buildcon Redeems Rs 100 Crore NCDs Series I

9th April 2026, 10:30 pm

Ashoka Buildcon Issues ₹100 Crore Commercial Papers

8th April 2026, 10:08 pm

Ashoka Buildcon Extends Subsidiary Stake Sale Completion to June 30, 2026

2nd April 2026, 4:46 am

Published by Other Websites

External media mentions & references

Ashoka Buildcon Wins ₹1,136 Cr Maharashtra IT Modernization Deal

23rd February 2026, 3:30 pm

RailTel Lands Rs 1,136 Cr Maharashtra Tech Project, Adds Rail Contract

21st February 2026, 3:06 pm

Ashoka Buildcon Bags $45M Liberia Road Project Amid Global Expansion

16th February 2026, 7:38 am

MSCI Rejig: AB Capital, L&T Fin In, IRCTC Out; Fund Flows To Shift

11th February 2026, 6:40 am

Ashoka Buildcon: Debt Plunge, Order Surge Bolster Outlook

4th February 2026, 12:25 pm

News Articles

Editorial & research coverage

Ashoka Buildcon: Debt Plunge, Order Surge Bolster Outlook
Ashoka Buildcon: Debt Plunge, Order Surge Bolster Outlook

4th February 2026, 12:25 pm

Ashoka Buildcon Slashes FY26 Revenue Target; Hold Rating Stands
Ashoka Buildcon Slashes FY26 Revenue Target; Hold Rating Stands

3rd February 2026, 12:06 pm

Ashoka Buildcon: Profit Soars 68% Amidst Revenue Decline
Ashoka Buildcon: Profit Soars 68% Amidst Revenue Decline

31st January 2026, 1:32 pm

Ashoka Buildcon Profit Surges on One-Offs, Revenue Dips
Ashoka Buildcon Profit Surges on One-Offs, Revenue Dips

30th January 2026, 11:45 pm

Ashoka Buildcon Secures ₹307 Crore Daman Bridge Project Amidst Financial Headwinds
Ashoka Buildcon Secures ₹307 Crore Daman Bridge Project Amidst Financial Headwinds

22nd January 2026, 6:08 pm

Documents

Announcements

Announcement under Regulation 30 (LODR)-Issue of Securities

30 Dec - Issued Rs.50 Crore CPs on Dec 30, 2025; 59-day, 6.72% coupon; matures Feb 27, 2026.

Closure of Trading Window
Issuance Of Securities - Commercial Papers

23 Dec - Issued Rs.50 crore CP on Dec 23, 2025; 90-day, 6.90% coupon, matures Mar 23, 2026.

Intimation of Repayment of Commercial Paper (CP)

23 Dec - Paid Rs.50 Crore CP redemption and Rs.91.97 Lakh interest on 23-Dec-2025.

Receipt Of Letter Of Acceptance (LOA) For Brihanmumbai Municipal Corporation (BMC) Project

14 Dec - JV awarded BMC flyover contract Rs.1,041.44 Crore; 24-month completion (ex-monsoon).

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

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Financial Year 2018

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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 2012

(from bse)

Financial Year 2012

(from nse)

Credit Ratings

Rating update

8 Dec from crisil

Rating update

30 Oct 2025 from icra

Rating update

3 Jun 2025 from smera

Rating update

7 May 2025 from crisil

Rating update

10 Mar 2025 from smera

Rating update

10 Jan 2025 from care

Concalls

Nov 2025

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Stock Analysis

Description

Ashoka Buildcon Ltd is engaged in construction and infrastructure facilities on EPC and BOT basis. It is also involved in the sale of RMC (ready mix and making switchgear concrete).

Key Growth Triggers

  1. Securing new EPC contracts in road and railway projects, leveraging its strong order book.
  2. Progress in strategic divestments of BOT/HAM assets to optimize the balance sheet.
  3. Successful execution of large infrastructure projects.
  4. Reaffirmation of credit ratings by various agencies.

Order Book

As of September 30, 2025, the order book stood at ₹14,888 Cr.

Key Red Flags

  1. NHAI bid suspension (under judicial review) due to a safety incident.
  2. Unsolicited ESG ratings received from multiple agencies, including a 'Below average' rating from Crisil.
  3. Delays noted in the divestment of subsidiaries.
  4. Ongoing CBI regulatory matter.

Key Dates To Watch

Currently no data available for Key Dates To Watch.

Corporate Announcements

16th Apr 26
Impact Rating: 6
Ashoka Buildcon Limited has successfully issued Commercial Papers valued at Rs 100 crore. These CPs mature on July 14, 2026, with a coupon rate of 7.25% per annum.
16th Apr 26
Impact Rating: 4
Ashoka Buildcon Limited announced the successful redemption of its Series II Non-Convertible Debentures (NCDs) for a total of ₹100 Crore on April 16, 2026, fulfilling its debt obligations on schedule.
9th Apr 26
Impact Rating: 6
Ashoka Buildcon Limited announced the timely redemption of its 10,000 Rated, Listed, Senior, Unsecured, Redeemable Non-Convertible Debentures - Series I. The total value redeemed was Rs 100 crore, including principal and interest.
8th Apr 26
Impact Rating: 6
Ashoka Buildcon has issued ₹100 crore worth of unsecured commercial papers. The CPs carry a 7.45% interest rate and mature on July 7, 2026, following a 90-day tenure from the allotment date.
1st Apr 26
Impact Rating: 7
Ashoka Buildcon announced an extension of the expected completion date for selling its stake in certain subsidiaries, pushing it to June 30, 2026, for SPVs with completed construction.