Ashoka Buildcon Q3 Review - Weak Execution, Muted Order Inflows: ICICI Direct 
A crane operates on a residential building under construction in Noida, Uttar Pradesh, India. (Photographer: Anindito Mukherjee/Bloomberg)

Ashoka Buildcon Q3 Review - Weak Execution, Muted Order Inflows: ICICI Direct 

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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.

ICICI Direct Report

Ashoka Buildcon Ltd. reported a weaker-than-expected performance during Q3 FY21 wherein standalone revenue was flattish YoY at Rs 981 crore, largely impacted by delays in appointed dates in certain hybrid annuity model, engineering procurement and construction projects.

Also, its operating margin declined 188 basis points YoY to 10.8%, owing to a muted topline performance, unfavourable change in project mix and deferral of profitability recognition in some projects.

At the profit after tax level, weak operating show translated into muted bottomline at Rs 85.7 crore, flat YoY).

Click on the attachment to read the full report:

ICICI Direct Ashoka Buildcon Q3FY21 Result Update.pdf

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