Ashoka Buildcon Q4 Review - Order Wins Crucial Going Ahead: ICICI Securities
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 Securities Report
Ashoka Buildcon Ltd.’s Q4 FY21 standalone engineering procurement and construction revenue was up 20% YoY and 41% QoQ to Rs 13.8 billion driven by improved execution across roads segment.
While the company’s order book of Rs 81 billion (1.8 times FY21 EPC revenue) remains healthy, incremental order wins and monetisation of build–operate–transfer road assets in Ashoka Concession Ltd. remain key triggers for the stock.
The company is targeting fresh order wins of Rs 40-50 billion in FY22E on the back of improved ordering outlook for road projects.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.