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Ashoka Buildcon Limited (ASHOKA) AI Stock Analysis

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IN:ASHOKA

Ashoka Buildcon Limited

(NSE:ASHOKA)

Select Model
Rating:68Neutral
Price Target:INR 125.00â–²(11.75% Upside)
Action:reiterated
Date:11/12/26

Primarily driven by robust balance sheet and compelling low P/E valuation, tempered by revenue declines and mixed technical signals.

Positive Factors
DeleveragingThe sharp reduction in leverage materially improves financial resilience and reduces the burden of debt service. A stronger capital structure gives Ashoka Buildcon more flexibility to fund infrastructure projects, manage execution cycles, and withstand periods of weaker operating cash flow.
Negative Factors
Revenue ContractionA material revenue decline reduces visibility into the company’s near-term project pipeline and operating scale. For an EPC and infrastructure developer, sustained contraction can weaken absorption of fixed costs, limit earnings growth, and make future profitability more dependent on project mix.

Ashoka Buildcon Limited (ASHOKA) vs. iShares MSCI India ETF (INDA)

-50%-40%-30%-20%-10%0%10%IN:ASHOKA-39.92%INDA-5.86%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
INR 31.47B
Dividend Yield
―
Average Volume (3M)
162.23K
Price to Earnings (P/E)
1.4
Beta (1Y)
1.52
Revenue Growth
-23.07%
EPS Growth
63.76%
Country
India
Employees
1,310
Sector
General
Sector Strength
55
Industry
Engineering & Construction

Ashoka Buildcon Limited Business Overview & Revenue Model

Company Description

Ashoka Buildcon Limited is an infrastructure development enterprise based in India. The company operates through three principal divisions: Construction & Contract Related Activity, Built, Operate and Transfer (BOT) projects, and the Sale of Goods. I...

Ashoka Buildcon Limited Financial Statement Overview

Summary

Strong balance sheet with sharply reduced leverage and solid ROE, supported by high recent profitability, though offset by declining revenue and cash flows.

Income Statement

65Positive

Balance Sheet

80Positive

Cash Flow

55Neutral
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue67.86B75.20B90.23B97.98B81.00B59.99B
Gross Profit13.33B20.28B36.86B31.67B25.39B11.16B
EBITDA36.01B42.05B30.49B23.68B19.69B22.50B
Net Income22.64B25.50B16.94B5.03B2.92B7.79B
Balance Sheet
Total Assets130.14B130.50B207.70B191.24B171.45B154.65B
Cash, Cash Equivalents and Short-Term Investments3.74B6.74B5.86B9.17B6.80B4.04B
Total Debt16.61B16.08B19.88B54.50B19.09B36.33B
Total Liabilities64.23B64.74B166.11B167.00B151.70B138.65B
Stockholders Equity65.88B65.79B39.15B22.20B17.55B13.81B
Cash Flow
Free Cash Flow0435.07M15.55B6.03B3.13B2.08B
Operating Cash Flow01.61B16.73B7.49B4.92B3.53B
Investing Cash Flow011.24B-6.26B2.34B-2.64B-2.33B
Financing Cash Flow0-9.44B-10.52B-4.07B-3.11B-350.01M

Ashoka Buildcon Limited Technical Analysis

Technical Analysis SentimentPositive
Last Price111.86

Price Trends

50DMA107.60Positive
100DMA115.09Negative
200DMA123.10Negative

Market Momentum

MACD0.94Negative
RSI60.08Neutral
STOCH80.52Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ASHOKA, the sentiment is Positive. The current price of 111.86 is above the 20-day moving average (MA) of 103.02, above the 50-day MA of 107.60, and below the 200-day MA of 123.10, indicating a neutral trend. The MACD of 0.94 indicates Negative momentum. The RSI at 60.08 is Neutral, neither overbought nor oversold. The STOCH value of 80.52 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ASHOKA.

Ashoka Buildcon Limited Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

IN:ASHOKA against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
IN:PNCINFRAIN:PNCINFRA71OutperformINR 33.67B5.20―0.47%1.82%-21.49%
IN:JKILIN:JKIL69NeutralINR 33.04B8.66―0.91%-2.47%-6.60%
IN:ASHOKAIN:ASHOKA68NeutralINR 31.76B1.38――-23.07%63.76%
IN:DBLIN:DBL63NeutralINR 66.36B5.91―0.24%-11.40%51.54%
IN:KNRCONIN:KNRCON58NeutralINR 31.29B7.78―0.23%-37.51%-58.59%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
IN:HGINFRAIN:HGINFRA41NeutralINR 27.01B12.55―0.49%-1.80%-48.36%

* General Sector Average

Performance Comparison

-40%-20%0%IN:ASHOKAIN:DBLIN:HGINFRAIN:JKILIN:KNRCONIN:PNCINFRADec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
IN:ASHOKA and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
IN:ASHOKAAshoka Buildcon Limited111.86-76.84-40.72%
IN:DBLDilip Buildcon Ltd.409.00-46.72-10.25%
IN:HGINFRAH.G. Infra Engineering Ltd.409.80-475.96-53.73%
IN:JKILJ. Kumar Infraprojects Limited437.55-171.49-28.16%
IN:KNRCONKNR Constructions Limited109.01-63.30-36.73%
IN:PNCINFRAPNC Infratech Ltd127.90-137.75-51.85%

Ashoka Buildcon Limited Corporate Events

Ashoka Buildcon Receives LoA for NHAI Expressway Project

Nov 9, 2026

Ashoka Buildcon Limited is an infrastructure construction company focused on domestic EPC road projects, including highways and expressways.The company has received a Letter of Acceptance from the National Highways Authority of India for balance work...

Ashoka Buildcon Publishes September 2026 Financial Results Notices

Nov 7, 2026

Ashoka Buildcon Limited is an Indian infrastructure development and construction company focused on roads, highways, bridges and related transport infrastructure, primarily serving the domestic market through engineering, procurement and construction...

Ashoka Buildcon Reports Higher Revenue but Weaker H1 FY27 Profitability

Nov 5, 2026

Ashoka Buildcon, an integrated engineering, procurement and construction (EPC), build-operate-transfer (BOT) and hybrid annuity model (HAM) company, focuses on infrastructure development across roads, buildings, railways and power transmission and di...

Ashoka Buildcon Files Q2 and H1 FY27 Result Update Presentation

Nov 5, 2026

Ashoka Buildcon Limited submitted its Result Update Presentation for the quarter and half year ended September 30, 2026, covering its unaudited standalone and consolidated financial results under limited review. The filing provides investors and mark...

Ashoka Buildcon Completes Timely Redemption of Rs.100 Crore Commercial Papers

Oct 19, 2026

Ashoka Buildcon Limited has fully redeemed its commercial papers bearing ISIN INE442H14550, paying the principal amount of Rs.100 crore along with Rs.174.44 lakh in interest on the scheduled maturity date of October 19, 2026. The timely, full redempt...

Ashoka Buildcon Assigned Independent CRISIL ESG 60 Rating

Oct 17, 2026

Ashoka Buildcon Limited has received an ESG Rating of ‘CRISIL ESG 60’ from CRISIL ESG Ratings and Analytics Limited, a SEBI-registered Category 1 ESG Rating Provider, based on publicly available data. The company clarified that it did not engage CRIS...

Ashoka Buildcon Acquires Sakoli Power Transmission SPV to Boost Power Infrastructure Portfolio

Sep 23, 2026

Ashoka Buildcon Limited has signed a Share Purchase Agreement and acquired 100% equity in Sakoli Power Transmission Limited, a project-specific special purpose vehicle previously owned by REC Power Development and Consultancy. The acquired SPV has be...

Ashoka Buildcon Extends Timeline for Sale of Remaining Road Project SPVs

Sep 15, 2026

Ashoka Buildcon has updated exchanges that it is extending the expected timeline for completing the sale of stakes in six remaining road project SPVs to a consortium led by Epic Concesiones 2 and Infrastructure Yield Trust schemes. The revised indica...

Ashoka Buildcon wins Rs 602 crore RVNL electro-mechanical contract for Rishikesh–Karnprayag rail tunnels

Aug 29, 2026

Ashoka Buildcon has received a Letter of Acceptance from Rail Vikas Nigam Limited for a major electro-mechanical works package on the Rishikesh–Karnprayag new broad-gauge rail line in Uttarakhand. The contract covers supply, erection, testing and com...

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 12, 2026