Ashoka Buildcon Limited (ASHOKA) AI Stock Analysis

• Market Cap: ₹53.38B
• Dividend Yield: N/A
• Average Volume (3M): 62.37K
• Price to Earnings (P/E): 3.0
• Beta (1Y): 1.47
• Revenue Growth: -8.43%
• EPS Growth: 184.27%
• Country: IN
• Employees: 1,594
• Sector: Services
• Sector Strength: N/A
• Industry: Engineering & Construction
• EPS (TTM): 1.10
• Shares Outstanding: 280,723,240
• 10 Day Avg. Volume: 52,979
• 30 Day Avg. Volume: 62,370
• PEG Ratio: 0.01
• Price to Book (P/B): 1.39
• Price to Sales (P/S): 0.61
• P/FCF Ratio: 3.51
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹220.00
• Price Target Upside: 16.25% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 73 Outperform
• Price Target: ₹212.00 ▲(12.02% Upside)

Ashoka Buildcon Limited's strong financial performance and attractive valuation are the primary drivers of its overall score. The company's robust revenue growth, profitability, and cash flow generation position it well for future growth. Technical indicators suggest neutral momentum, with potential caution due to high stochastic levels. The absence of a dividend yield and lack of recent earnings call data slightly temper the overall score.

Ashoka Buildcon Limited Business Overview & Revenue Model

Company Description

Ashoka Buildcon Limited (ASHOKA) is a leading infrastructure development company based in India, primarily engaged in the construction and development of roads, highways, bridges, and other civil infrastructure projects. Established in 1976, the company operates in multiple sectors, including transportation, urban infrastructure, and power transmission, focusing on delivering high-quality engineering and construction services. With a strong emphasis on innovation and sustainability, ASHOKA aims to enhance India's infrastructure landscape while contributing to the nation's economic growth.

How the Company Makes Money

Ashoka Buildcon Limited generates revenue primarily through its construction contracts, which include the development of national highways, state highways, and urban infrastructure projects. The company operates under several revenue streams, including engineering, procurement, and construction (EPC) contracts, where it undertakes the complete responsibility for project execution. Additionally, ASHOKA is involved in public-private partnership (PPP) projects, allowing it to collaborate with government entities to deliver infrastructure projects with a shared investment model. The company also earns revenue from operations in the power sector, particularly through the construction of power transmission lines and substations. Significant partnerships with government bodies, private developers, and financial institutions further bolster ASHOKA's earnings, enabling it to secure ongoing and new project contracts that drive growth.

Ashoka Buildcon Limited Financial Statement Overview

Summary

Ashoka Buildcon Limited shows strong financial health with robust revenue and profit growth, effective cost management, and strong cash flow generation. The company maintains a healthy Gross Profit Margin and Net Profit Margin, with significant improvements in EBIT and EBITDA margins. While leverage is manageable, enhancing equity could further strengthen its financial position.

Income Statement

Ashoka Buildcon Limited has demonstrated strong revenue growth with a 2.48% increase in Total Revenue over the past year. The company maintains a healthy Gross Profit Margin of approximately 36.73% and a Net Profit Margin of 16.88%, indicating robust profitability. Significant improvements in EBIT and EBITDA margins to 32.29% and 29.09% respectively highlight efficient operational performance.

Balance Sheet

The company exhibits a stable financial structure with a Debt-to-Equity Ratio of 0.51, indicating manageable leverage. Return on Equity stands at a strong 43.29%, suggesting effective use of equity to generate profits. The Equity Ratio is 18.85%, reflecting a balanced capital structure, though there is potential for increased equity to improve financial stability.

Cash Flow

Strong Free Cash Flow Growth of 158.12% signifies improved cash generation capability. The Operating Cash Flow to Net Income Ratio is at 0.99, reflecting efficient cash conversion from earnings. Additionally, the Free Cash Flow to Net Income Ratio of 0.92 suggests a healthy ability to generate cash relative to net income.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	94.58B	90.23B	97.98B	81.00B	59.99B	49.92B
Gross Profit	36.75B	36.86B	31.67B	25.39B	11.16B	14.93B
EBITDA	30.82B	29.20B	23.68B	19.83B	22.50B	13.41B
Net Income	17.61B	16.94B	5.03B	2.92B	7.79B	2.76B
Balance Sheet
Total Assets	0.00	207.70B	191.24B	171.45B	154.65B	142.33B
Cash, Cash Equivalents and Short-Term Investments	5.86B	5.86B	9.17B	6.80B	4.04B	6.49B
Total Debt	0.00	19.88B	54.50B	19.09B	36.33B	67.19B
Total Liabilities	-41.59B	166.11B	167.00B	151.70B	138.65B	134.03B
Stockholders Equity	41.59B	39.15B	22.20B	17.55B	13.81B	6.19B
Cash Flow
Free Cash Flow	0.00	15.55B	6.03B	3.13B	2.08B	696.53M
Operating Cash Flow	0.00	16.73B	7.49B	4.92B	3.53B	1.55B
Investing Cash Flow	0.00	-6.26B	2.34B	-2.64B	-2.33B	-1.76B
Financing Cash Flow	0.00	-10.52B	-4.07B	-3.11B	-350.01M	-2.21B

Ashoka Buildcon Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 189.25
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ASHOKA, the sentiment is Negative. The current price of 189.25 is above the 20-day moving average (MA) of 189.20, above the 50-day MA of 187.15, and below the 200-day MA of 205.10, indicating a neutral trend. The MACD of 0.44 indicates Negative momentum. The RSI at 48.97 is Neutral, neither overbought nor oversold. The STOCH value of 59.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ASHOKA.

Ashoka Buildcon Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ASHOKA	73 Outperform	₹53.38B	3.03	―	―	-8.43%	184.27%
JKIL	69 Neutral	₹47.20B	11.54	―	0.63%	17.23%	18.23%
AHLUCONT	69 Neutral	₹62.70B	28.43	―	0.07%	4.32%	-37.38%
WELENT	68 Neutral	₹76.22B	23.80	―	0.55%	14.32%	4.35%
CAPACITE	64 Neutral	₹23.00B	11.77	―	―	14.40%	20.33%
PNCINFRA	57 Neutral	₹72.59B	10.81	―	0.21%	-30.96%	-48.49%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%

Ashoka Buildcon Limited Corporate Events

Ashoka Buildcon Strengthens Stake in JTCL with Strategic Acquisition

Ashoka Buildcon Limited, through its subsidiary Viva Highways Limited, has acquired 7,46,20,000 equity shares in Jaora-Nayagaon Toll Road Company Private Limited (JTCL) for Rs.1,66,59,93,151, increasing its shareholding to 61.17%. This strategic acquisition aims to consolidate Ashoka Buildcon’s position in the road infrastructure sector, enhancing operational efficiency and decision-making capabilities, ultimately benefiting stakeholders, including the Madhya Pradesh Road Development Corporation and lenders.

Ashoka Buildcon Divests Stake in SPVs for Rs.1,146 Crores

Ashoka Buildcon Limited, along with its subsidiary Ashoka Concessions Limited, has sold its entire 100% stake in five Special Purpose Vehicles (SPVs) to Epic Concesiones 2 Private Limited and other entities for a total consideration of Rs.1,146 Crores. This strategic move is part of the company’s efforts to streamline its operations and focus on core business areas, potentially impacting its market positioning and offering new opportunities for stakeholders.

Ashoka Buildcon Reports Q1 FY26 Financial Results Amidst Revenue Decline

Ashoka Buildcon Limited reported a significant decrease in total income by 30% year-over-year for the quarter ending June 30, 2025, though EBITDA increased by 4%, indicating improved operational efficiency. Despite the challenges, the company’s BOT division saw a 13% growth in toll collection, and its order book remains robust at Rs. 15,886 crores, with a strong focus on road EPC projects.

Ashoka Buildcon Releases Q1 2025 Financial Results

Ashoka Buildcon Limited has released its unaudited standalone and consolidated financial results for the quarter ending June 30, 2025. The update, shared with the Bombay Stock Exchange and the National Stock Exchange of India, reflects the company’s ongoing financial performance and strategic positioning in the infrastructure sector. This announcement is crucial for stakeholders to assess the company’s operational efficiency and market competitiveness.