Ashoka Buildcon Ltd

Ashoka Buildcon: Strong Order Book at ₹15,927 Cr, Plans Asset Monetization & Debt Reduction 📊🏗️

• New project orders total ₹3,600 crores, including Mithi River Development (₹1,816 Cr), a flyover (₹1,041 Cr), and a bridge in Daman (₹307.7 Cr).

• Order book as of December 31, 2025, stands at ₹15,927 crores, with roads and railways making up 65% and power T&D 32%.

• Plans to monetize 6 HAM assets: 4 by March 2026 (approx. ₹750 Cr) and 2 by June 2026 (approx. ₹400 Cr).

• Targeting order inflow of ₹3,000–3,500 crores in the next two months of FY26 and ₹11,000–12,000 crores for FY27.

• Q3 FY26 standalone revenue declined 18% YoY to ₹1,492 crores, but PAT increased 68% to ₹102 crores.

• Q3 FY26 EBITDA margin improved to 10.6%, with full-year FY27 margin guidance of 10–11%.

• Consolidated debt reduced from ₹4,910 crores to ₹2,722 crores after sale of 5 BOT SPVs for ₹1,814 crores.

• Acquired full ownership of Ashoka Concessions Limited for ₹667 crores, making it a 100% subsidiary.

• Impairment of ₹25 crores recorded for Saudi subsidiary costs, potentially reversible if orders are secured.

• Management noted land acquisition challenges but expects improvement in upcoming quarters.