NSE: ASHOKA | BSE: 533271

Value Stock, Under Radar

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172.78 -0.89 (-0.51%)

45.84% Fall from 52W High

591.6K NSE+BSE Volume

NSE 29 Aug, 2025 3:31 PM (IST)

4,850.3

Market Cap

Below industry Median

1.3

Beta 1Year

Very High Volatility

Ashoka Buildcon Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for ASHOKA, BSE:533271 Ashoka Buildcon Ltd.

Ashoka Buildcon Ltd.

12 Aug 2021

172.78

-0.51%

Q1FY22 Result Update - Execution momentum remains robust - BUY

Buy: Ashoka Buildcon Ltd.

Prabhudas Lilladhar

We remain positive on the company given a) its excellent blend of diversified EPC orders and Asset ownership (in 23 Road assets and 3 City Gas Distribution assets), b) stable EPC margins and c) healthy order book (Rs94.7bn as at 1QFY22) and foray into new verticals i.e. Railways (8% of order book) and EPC buildings (13%). We expect revenue/PAT CAGR of 9.2%/1.4% for FY22/23E respectively. At the CMP, the stock trades at an EV of...

Number of FII/FPI investors increased from 135 to 146 in Jun 2025 qtr.

Ashoka Buildcon Ltd.

22 Jun 2021

172.78

-0.51%

Q4FY21 Result Update - Asset monetization remains an overhang - BUY

buy: Ashoka Buildcon Ltd.

Prabhudas Lilladhar

Due diligence for monetization (SBI Macquarie stake sale) is in advanced stage by potential investors; expect SPA to be signed by Q2/Q3 FY22E. ASBL's 4Q performance was healthy with revenues and margins coming above our estimates. Amidst the second wave of Covid, execution was...

Ashoka Buildcon Ltd. is trading below all available SMAs

Ashoka Buildcon Ltd.

10 Feb 2021

172.78

-0.51%

Ashoka Buildcon: Q3FY21 Result Review

Buy: Ashoka Buildcon Ltd.

Target

IDBI Capital

Ashoka Buildcon (ASBL) Q3FY21 (standalone) PAT is lower than our estimate. This is led by lower execution and margin. But management guides to make for revenue shortfall in Q4FY21. This will be driven by 3 projects i.e. Kandi and 2 projects in Bihar. ASBL expects revenue of Rs39-40bn in FY21, YTDFY21 revenue is at -9% YoY and which implies Q4FY21 revenue to increase by 20%. Order book as of 9MFY21 at Rs92bn equals to 4x TTM revenue. We have increased the execution run rate and lowered margin expectations. This has resulted in marginally increase in EPS by 1-4% for FY21E to FY23E. On expectation of pick in capex cycle, driven by allocation to road sector in the...

Ashoka Buildcon Ltd. has lost -20.59% in the last 3 Months

Ashoka Buildcon Ltd.

08 Feb 2021

172.78

-0.51%

Q3FY21 Result Update - Delayed AD's impact execution - BUY

Buy: Ashoka Buildcon Ltd.

Target

Prabhudas Lilladhar

With major due diligence done and binding offers received, negotiations & documentation of SBI Macquarie stake sale expected to conclude by Mar'21. ASBL's 3Q performance was muted with revenues and margins coming below our and street estimates, mainly due to delayed commencement of 3 major projects. ASBL now received long-awaited AD in Kandi Ramsanpalle HAM...

Number of FII/FPI investors increased from 135 to 146 in Jun 2025 qtr.

Ashoka Buildcon Ltd.

08 Feb 2021

172.78

-0.51%

Ashoka Buildcon

Hold: Ashoka Buildcon Ltd.

Target

ICICI Securities Limited

ABL's order book (OB) at the end of Q3FY21 was at | 9,152 crore (OB-to-bill ratio of 2.5x TTM revenues) spread across roads - HAM (| 3,923 crore), roads - EPC (| 2,988 crore), power T&D; and others (| 1,466 crore), railways (| 692 crore), and CGD (| 83 crore) segments. During Q3FY21, the company has secured projects from a) NTPC Renewable Energy worth | 503 crore for EPC package of 150 MW solar PV project in Rajasthan and b) smaller contracts in power segment worth ~| 300 crore in Uttar Pradesh and Bihar. Going forward, the management has guided for order inflow of | 2,000-2,500 crore...

Ashoka Buildcon Ltd. is trading below all available SMAs

Ashoka Buildcon Ltd.

08 Feb 2021

172.78

-0.51%

Execution in line; healthy order book visibility augurs well

Buy: Ashoka Buildcon Ltd.

Target

Motilal Oswal

ASBL's 3QFY21 revenue came in flat YoY, in line with our estimate. Revenue would have been higher as execution of three projects was delayed and shifted to 4QFY21. EBITDA stood 15% below our estimate as an adverse revenue mix led to 180bp YoY decline in EBITDA margin (120bp below our expectation). As a result of lower depreciation and interest cost, coupled...

ICICI Securities Limited decreased Buy price target of Ashoka Buildcon Ltd. to 220.0 on 13 Aug, 2025.

Ashoka Buildcon Ltd.

18 Nov 2020

172.78

-0.51%

Ashoka Buildcon

Buy: Ashoka Buildcon Ltd.

Dolat Capital

Negotiations restarted for SBI Macquarie stake sale with prospective buyers and deal progressing in right direction as per management. ASBL reported decent quarterly performance with execution ramping up (6% YoY growth) across its project sites led by rise in labour availability. Margins...

ICICI Securities Limited decreased Buy price target of Ashoka Buildcon Ltd. to 220.0 on 13 Aug, 2025.

Ashoka Buildcon Ltd.

13 Nov 2020

172.78

-0.51%

Ashoka Buildcon: Q2FY21 Result Review

Buy: Ashoka Buildcon Ltd.

Target

IDBI Capital

Ashoka Buildcon (ASBL) Q2FY21 (standalone) PAT is higher than our estimate by 25%. Beat is led by better execution (revenue) and EBITDA margin. Revenue is up 7% YoY and business has achieved normalcy. ASBL has guided for FY21E execution (revenue) in-line with FY20. Order inflow in the H1FY21 is Rs24bn (orders received in road EPC) and company expects incremental orders of Rs30-40bn in H2FY21. Order book as of H1FY21 at Rs93bn equals to 2.4x TTM revenue. We have factored improved execution in our FY21E/22E numbers and revised EPS up by 18%/12% (exhibit 8). In the note, we introduced FY23 financials and roll forward TP to FY23E. Our revised TP is Rs111 where...

Ashoka Buildcon Ltd. has an average target of 242.00 from 2 brokers.

Ashoka Buildcon Ltd.

13 Nov 2020

172.78

-0.51%

Ashoka Buildcon

Hold: Ashoka Buildcon Ltd.

Target

ICICI Securities Limited

We are impressed by ABL's continued improvement in leverage at standalone levels and execution recovery. However, the SBI-Macquarie stake exit stays the key overhang on the company. We believe asset monetisation will be key for rerating of EPC business multiples. We conservatively build in construction revenue growth at 4.7% CAGR to | 4,316 crore in FY20-22E. We maintain HOLD rating on the stock with an...

ICICI Securities Limited decreased Buy price target of Ashoka Buildcon Ltd. to 220.0 on 13 Aug, 2025.

Is Ashoka Buildcon Ltd. worth buying?

620 Votes:

Buy 85.16%

Sell 8.39%

Hold 6.45%

RESEARCH REPORTS

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