Ashoka Buildcon Q1 Review - Execution Improving: IDBI Capital
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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.
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