NSE: ASHOKA | BSE: 533271

Strong Performer, Under Radar

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192.65 2.61 (1.37%)

39.61% Fall from 52W High

1.1M NSE+BSE Volume

NSE 03 Sep, 2025 1:35 PM (IST)

5,408.1

Market Cap

Below industry Median

1.4

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 Nov 2020

192.65

1.37%

Q2FY21 Result Update - Robust execution drive performance - BUY

Buy: Ashoka Buildcon Ltd.

Prabhudas Lilladhar

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...

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

Ashoka Buildcon Ltd.

13 Aug 2020

192.65

1.37%

Ashoka Buildcon

Hold: Ashoka Buildcon Ltd.

Target

ICICI Securities Limited

Ashoka Buildcon's (ABL) performance was a mixed bag in Q1FY21. Revenues de-grew ~35% YoY to | 572.4 crore on account of weaker-thanexpected execution during the quarter owing to Covid-19 led challenges such amid lockdown and labour shortage. Reported EBITDA margin was up 180 bps YoY to 14.3%, mainly on account of release of contingencies on account of project completion. RPAT grew 11.9% YoY to | 68.1 crore on account of higher other income (driven by insurance claim and restructuring of equipment loans) and higher reported EBITDA. Order book at | 8,617 crore as of Q1FY21...

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

Ashoka Buildcon Ltd.

12 Aug 2020

192.65

1.37%

Q1FY21 Result Update - Execution momentum picking up - BUY

Buy: Ashoka Buildcon Ltd.

Prabhudas Lilladhar

SBI Macquarie stake sale deal continues to be an overhang on the stock, negotiations to likely restart with prospective buyers. ASBL reported resilient operational performance in a tough scenario with revenues falling 34% YoY due to Covid-19 pandemic, impacting construction...

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

Ashoka Buildcon Ltd.

12 Aug 2020

192.65

1.37%

Execution a surprise; Debt reduction augers well

Buy: Ashoka Buildcon Ltd.

Target

Motilal Oswal

12 August 2020 Ashoka Buildcons (ASBL) 1QFY21 results were robust. Top line decline was limited to INR5.7b (18% above est.). On account of one-off items as well as release of contingencies, EBITDA and PAT came in well above expectations. A key surprise was the reduction in gross debt to INR2.4b (v/s INR4b at end- FY20), indicating strong focus on cash flow management. Strong execution over the past two years is commendable. However, the pending PE exit in the asset portfolio is an overhang on the stock. We have increased our FY21E EPS by 16%, but FY22E EPS remains broadly unchanged. Strong order book and continuous improvement in the balance sheet augurs well for ASBL. Maintain with revised TP of INR88. Revenue declined 35% to INR5.7b and was 18% above our expectations. EBITDA was down 25% YoY to INR819m (ahead of est.

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

Ashoka Buildcon Ltd.

17 Jun 2020

192.65

1.37%

Ashoka Buildcon

Hold: Ashoka Buildcon Ltd.

Target

ICICI Securities Limited

SBI-Macquarie stake exit remains the key overhang on the company. The monetisation could hit a roadblock in the near term given the overall economic challenges. Moreover, we expect ABL's execution to be impacted by Covid-19 impact. We conservatively build in construction revenue growth at 4% CAGR to | 4,248 crore in FY20-22E. We reinstate our ratings (earlier...

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

Ashoka Buildcon Ltd.

16 Jun 2020

192.65

1.37%

Q4FY20 Result Update - Pickup in execution pace - BUY

Buy: Ashoka Buildcon Ltd.

Prabhudas Lilladhar

Post relaxations in lockdown almost all projects have commenced operations and are operating at ~60% efficiency with 50-65% labour availability. ASBL reported strong performance in 4Q with healthy execution in its key projects leading to meagre ~4% YoY (PLe: -35% YoY) fall in revenues, despite...

Ashoka Buildcon Ltd.'s price crossed above 30Day SMA today

Ashoka Buildcon Ltd.

07 Apr 2020

192.65

1.37%

Sector Update - Covid-19 brings execution to a standstill

Buy: Ashoka Buildcon Ltd.

Target

Prabhudas Lilladhar

were moving at a steady pace until 15th Mar'20 with timely collection of come to halt due to a) directive and strict implementation of nationwide lockdown, b) stoppage of work requested by clients, c) labour related issues who were unable to return post Holi holidays and d) concerns towards health...

Ashoka Buildcon Ltd. is trading below its 50 day SMA of 197.6

Ashoka Buildcon Ltd.

13 Feb 2020

192.65

1.37%

Ashoka Buildcon

Hold: Ashoka Buildcon Ltd.

Recommendation

ICICI Securities Limited

ABL's orderbook (OB) was at | 8,092.4 crore, implying OB-to-bill ratio of 2.0x TTM revenues, giving us comfort on execution ahead. Of this, road projects comprise | 5,981 crore, (HAM projects: | 3,411 crore, EPC projects: | 2,570 crore), power T&D; ~| 1,046 crore, Railways | 993 crore, and CGD | 73 crore. This OB does not include Tumkur-Shivamogga P-IV (TSP-IV) HAM project worth | 869.6 crore and recently won Kandi Ramsanpalle HAM project worth | 586.0 crore. The company has identified projects worth | 30,000 crore for bidding in the next two months and expects | 3,000-4,000 crore order inflow...

Ashoka Buildcon Ltd. is trading below its 50 day SMA of 197.6

Ashoka Buildcon Ltd.

11 Feb 2020

192.65

1.37%

Ashoka Buildcon (BUY): Disappointing quarter; execution to ramp up from FY21

Buy: Ashoka Buildcon Ltd.

Target

BOB Capital Markets Ltd.

Hampered by the prolonged monsoons and delayed AD in HAM projects, Ashoka Buildcon's (ASBL) Q3FY20 revenue declined 8% YoY.

Ashoka Buildcon Ltd.'s price crossed above 30Day SMA today

Ashoka Buildcon Ltd.

11 Feb 2020

192.65

1.37%

Q3FY20 Result Update

Buy: Ashoka Buildcon Ltd.

Prabhudas Lilladhar

3QFY20). Equity requirement in HAM Projects would be ~Rs4.5bn over next two-three years which the management believes would be funded through internal accruals. ASBL is one of the few companies in infra space successfully diversifying into new verticals such as Railways (13% of order book) and smart cities (maiden order Rs3.2bn) over a period of time. In our view, ACL's asset monetisation would a key monitorable and if concluded within a year would remove the overhang on the stock. At CMP, the stock trades at an EV of 5.8x/5.7x FY20E/FY21E EBITDA. We maintain BUY rating...

Ashoka Buildcon Ltd.'s price crossed above 30Day SMA today

Is Ashoka Buildcon Ltd. worth buying?

621 Votes:

Buy 85.19%

Sell 8.37%

Hold 6.44%

RESEARCH REPORTS

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