Anand Rathi: Ashoka Buildcon - Soothing Start To The Year, Better Expected Ahead
A worker sifts sand while laboring at an under construction site in Matia, Assam, India Photographer Prashanth VishwanathanBloomberg

Anand Rathi: Ashoka Buildcon - Soothing Start To The Year, Better Expected Ahead


BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Anand Rathi Report

With Covid-19 restrictions constantly easing and blended execution efficiency gradually returning to normal, we see Ashoka Buildcon Ltd.’s soothing start to the year gaining strength in coming quarters.

A well-set balance sheet, too, is likely to support efforts to return to normal at the earliest. Though good for the immediate future, more is needed in the order book for growth in the medium term.

The State Bank of India -Macquarie Bank of Australia exit is likely to be delayed; but the consequent overhang seems more than priced in.

Ashoka Concessions Ltd. monetisation has delayed. With discussions on hold with the existing suitor owing to the Covid-triggered uncertainty, there are efforts to approach suitors that had evinced interest in the portfolio in the past.

Recovery in toll-collection to approximately 90% of pre-Covid levels already, management believes, would help.

Click on the attachment to read the full report:

Anand Rathi Ashok Buildcon Q1FY21 Result Update.pdf


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