Ashoka Buildcon Q1 Review - Execution Improving: IDBI Capital
Workers labor on the construction of a highway. (Photographer: Dimas Ardian/Bloomberg)

Ashoka Buildcon Q1 Review - Execution Improving: IDBI Capital

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

IDBI Capital Report

Ashoka Buildcon Ltd.'s Q1 FY22 standalone profit after tax came 19%/ 25% higher than our/consensus estimate.

This is led by better execution as work efficiency improved and currently operating at 100% efficiency level.

On execution front, Ashoka Buildcon has guided for revenue increase of 25% with Ebitda margin of 12-12.5% for FY22E.

Post the result we have increased revenue to 20% YoY for FY22E/23E.

This has resulted in increase in the earnings per share by 4% and 6% for FY22E and FY23E respectively.

Click on the attachment to read the full report:

IDBI Capital Ashoka Buildcon Q1FY22 Result Update.pdf

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