Ashoka Buildcon Q4 Review - Asset Monetisation Key Ahead: ICICI Direct
A crane stands between steel construction beams on a commercial and residential construction site. (Photographer: Simon Dawson/Bloomberg)

Ashoka Buildcon Q4 Review - Asset Monetisation Key Ahead: ICICI Direct


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 decent standalone revenue growth of 10.5% at Rs 1387 crore on a benign base (~4% decline in Q4 FY20).

Reported Ebitda margins at 14.5% were higher owing to year end reversal of provision and engineering and construction services as projects came to an end as well as price Index multiple being passed on to the engineering procurement and construction arm on achieving milestone.

On a normalised project level, the company indicated that margin was in the range of 12-12.5%.

Profit after tax at Rs 149.2 crore was down ~9% YoY as the base quarter has higher margins due to reversals.

Click on the attachment to read the full report:

ICICI Direct Ashoka Buildcon Q4FY21 Result Update.pdf


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