Ashoka Buildcon Limited

NSE: ASHOKA · Civil Construction

52W Range₹101 ₹215

Snapshot

Unlock Ashoka Buildcon Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Ashoka Buildcon Limited is an infrastructure development company based in India, specialising in the construction of highways, bridges, railways, and power projects. The company operates across three primary segments: construction and contract-related activities, built-operate-transfer (BOT) projects, and the sale of goods including ready-mix concrete and real estate.

Business Model

The company generates revenue through engineering, procurement, and construction (EPC) contracts, long-term BOT infrastructure concessions, and the sale of construction materials and real estate. It further diversifies income streams through gas distribution, consultancy services, and educational software development.

Growth Outlook

Growth is driven by India's continued focus on infrastructure development, including highway expansion and railway modernisation. The company aims to leverage its diverse portfolio to capture opportunities in both traditional construction and emerging sectors like city gas distribution.

Key Risks

  • Execution Risk. Delays in project execution due to land acquisition issues or regulatory hurdles can significantly impact project timelines and profitability.
  • Concentration Risk. Heavy reliance on government-funded infrastructure projects makes the company vulnerable to changes in public spending priorities and policy shifts.
  • Interest Rate Sensitivity. As a capital-intensive business, the company is susceptible to fluctuations in interest rates which affect the cost of debt for BOT projects.
  • Raw Material Price Volatility. Fluctuations in the prices of steel, cement, and fuel can adversely affect profit margins on fixed-price construction contracts.

Price

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Key Metrics

REVENUE

₹7,520 Cr

TTM · consolidated

-25.1%YoY

NET PROFIT

₹2,576 Cr

TTM · consolidated

+48.6%YoY

EPS

₹90.83

TTM · consolidated

+50.5%YoY

RETURN ON EQUITY

56.2%

TTM · consolidated

-9.4 ppYoY

RETURN ON CAPITAL EMPLOYED

28.3%

TTM · consolidated

+7.7 ppYoY

P/E

1.4x

Q4 FY26 · consolidated

1.4 vs 5.5x5Y avg

EV/EBITDA

2.2x

Q4 FY26 · consolidated

2.2 vs 5.0x5Y avg

EBITDA MARGIN

27.5%

TTM · consolidated

-3.3 ppYoY

NET PROFIT MARGIN

7.5%

Q4 FY26 · consolidated

-9.3 ppYoY

DEBT TO EQUITY

0.5%

Q4 FY26 · consolidated

-1.5 ppYoY

Peers · Civil Construction

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Ashoka Buildcon LimitedASHOKA
3,1141.402.17-25.1%27.5%56.2%28.3%-39.3%
J. Kumar Infraprojects LimitedJKIL
3,5039.574.570.5%15.7%12.5%19.7%-33.0%
KNR Constructions LimitedKNRCON
3,1978.007.40-43.2%28.8%9.4%10.9%-44.0%
Ramky Infrastructure LimitedRAMKY
3,1277.865.628.9%25.3%18.3%20.7%-37.0%
H.G. Infra Engineering LimitedHGINFRA
3,09510.998.143.5%19.9%10.9%14.1%-49.6%
Interarch Building Products Ltd.INTERARCH
2,86723.0215.1130.6%10.8%17.2%23.5%-15.3%

As of Q4 FY26

Financials