63.25 0.90 (1.44%)
NSE Oct 22, 2020 15:31 PM
Volume: 472.6K

Ashoka Buildcon Ltd.    
17 Jun 2020
HDFC Securities
We revise our FY21E/FY22 EPS by 6/34% and increase our TP to Rs 141/sh (vs Rs 134/sh earlier). We maintain BUY on Ashoka Buildcon with revised TP of Rs 141/sh. Adjusting for ~Rs 1bn release of contingencies in revenue from some of the projects, ABL missed our earnings estimate by 18% on account of weak execution and lower than expected EBITDA margin. Labour availability is 50-65% as of now and sites are working at 50-65% efficiency. Tolling has reached 85% of pre-Covid-19 level within three week of resumption. NWC days improvement, low net D/E of 0.04x and comfortable liquidity insulates ABL from COVID-19 headwinds.
Ashoka Buildcon Ltd. has lost -41.38% in the last 1 Year
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