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Ahluwalia Contracts (India) Ltd (AHLUCONT)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532811 NSE: AHLUCONT Construction - Real Estate | Small Cap | Ahluwalia Contract(I Share Price

₹793.05 -4.90 (-0.61%)

As on 10-Jun'26 13:55

Ahluwalia Contracts (India) Ltd (AHLUCONT)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532811 NSE: AHLUCONT Construction - Real Estate | Small Cap | Ahluwalia Contract(I Share Price

₹793.05 -4.90 (-0.61%)

As on 10-Jun'26 13:55

Key Metrics
Valuation Multiples
Market Cap
₹5,345 Cr.
Current Price
₹793.1
52-Week Low / High
₹645 / 1,129
TTM EPS
₹39.5
TTM Sales
₹4,565 Cr.
Book Value per Share
₹307.5
P/E Ratio
20.22
Lower than its 5-year historical median
Industry PE
42.6
Price to Book (P/B)
2.59
Lower than its 5-year historical median
Price to Sales (P/S)
1.17
Lower than its 5-year historical median
EV/EBITDA
8.96
Lower than its 5-year historical median
Dividend Yield
0.07%
Profitability Efficiency
Return on Equity (ROE)
11.85%
Outperforms industry median
Return on Capital Employed (ROCE)
19.10%
Outperforms industry median
Return on Assets (ROA)
5.90%
Operating Profit Margin
8.2%
Net Profit Margin
4.92%
Gross Profit Margin
8.3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
6.31%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-13.18%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-46.34%
Asset Quality
Promoter Holding
55.32%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹2,047 Cr.
Equity
₹13.4 Cr.
Face Value
₹2
All Time Low / High
₹15.55 / 1540.00

Ahluwalia Contracts (India) stock performance

Key Ratios
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Check Before You Invest

Valuation

Somewhat Undervalued

Price Trend

Semi Strong
Q.1 Is Ahluwalia Contracts (India) Ltd a good quality company?
Ahluwalia Contracts (India) Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Ahluwalia Contracts (India) Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Ahluwalia Contracts (India) Ltd vs industry peers?
Ahluwalia Contracts (India) Ltd revenue CAGR is 16.81%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Ahluwalia Contracts (India) Ltd?
Promoters hold 55.32% of the Ahluwalia Contracts (India) Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Ahluwalia Contracts (India) Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 11.4% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Ahluwalia Contracts (India) Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 28.7%27.3%32%27.4%15.9%16.7%26.1%26%38.4%19.1%-
Value Creation
Index
1.11.01.31.00.10.20.90.91.90.4-

Growth Parameters

Sales 1,2501,4271,6471,7551,8851,9822,6922,8383,8554,0994,565
Sales YoY Gr.-14.2%15.4%6.6%7.4%5.2%35.8%5.4%35.8%6.3%-
Adj EPS 12.612.917.217.59.611.523.328.835.63039.5
YoY Gr.-2.1%33.9%1.7%-45.1%19.8%101.5%24%23.5%-15.7%-
BVPS (₹) 6375.592.9110.2120131.4154.7183.6239.2268.7307.5
Adj Net
Profit
84.586.311511764.577.3156193239201264
Cash Flow from Ops. 76.81268185.711025965.8301257359-
Debt/CF from Ops. 1.90.70.40.70.40.1000.20-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 14.1%16.8%15%6.3%
Adj EPS 10.1%25.5%8.9%-15.7%
BVPS17.5%17.5%20.2%12.4%
Share Price 11% 19.6% 10.8% -16.9%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
22.218.620.517.38.49.216.317.116.911.813.7
Op. Profit
Mgn %
12.912.213.312.48.17.89.610.710.18.29.5
Net Profit
Mgn %
6.86.176.73.43.95.86.86.24.95.8
Debt to
Equity
0.30.20.10.10.1000000
Working Cap
Days
234224201205225244186189172190113
Cash Conv.
Cycle
93846750306-45182156

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1,2501,4271,6471,7551,8851,9822,6922,8383,8554,099
Operating Expenses + 1,0891,2531,4271,5381,7321,8282,4362,5343,4673,761
Manufacturing Costs2913264885335816409348981,2341,452
Material Costs6077267568019059191,2391,3611,8391,799
Employee Cost 159152134143154150184196277346
Other Costs 32495062921197980117164
Operating Profit 161174219216153154256304388337
Operating Profit Margin (%) 12.9%12.2%13.3%12.3%8.1%7.8%9.5%10.7%10.1%8.2%
Other Income + 148610102229303760
Exceptional Items 000000001950
Interest 35272519354344334858
Depreciation 20242628323034396767
Profit Before Tax 11913117517997104208262505272
Tax 354559623226536813071
Profit After Tax 84861151176477155194376202
PAT Margin (%) 6.8%6.1%7.0%6.7%3.4%3.9%5.8%6.8%9.7%4.9%
Adjusted EPS (₹)12.612.917.217.59.611.523.229.056.130.1
Dividend Payout Ratio (%)0%0%1.70%1.70%0%0%1.30%1.40%0.90%2%

Valuation of Ahluwalia Contract(I - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 4225066227388048801,0361,2301,6021,800
Share Capital 13131313131313131313
Reserves 4094926097257918671,0231,2161,5891,787
Debt +1339030614716034512
Long Term Debt0011110013
Short Term Debt133902960471503449
Minority Interest0000000000
Trade Payables295352378429523640619672700847
Others Liabilities 2922712012303625033655648171,012
Total Liabilities 1,1421,2191,2311,4581,7362,0392,0212,4683,1643,672

Fixed Assets

Net Fixed Assets +11310598100108121116184246367
Gross Block349126141167203241262361465644
Accumulated Depreciation23621436794120145177219277
CWIP 840000001712
Investments 6766666666
Inventories205248189148221297242244316339
Trade Receivables500455566518493374443606746785
Cash Equivalents 88123125209244418433588780964
Others Assets 1462812474766648217808381,0621,198
Total Assets 1,1421,2191,2311,4581,7362,0392,0212,4683,1643,672

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 77126818611025966301257359
PBT 11913117517997104208262505272
Adjustment 3741334287945734-13367
Changes in Working Capital -72-33-71-57-2794-1415522119
Tax Paid -7-12-56-79-47-32-59-49-137-99
Cash Flow From Investing Activity + -25-9-20-43-46-48-101-166-310-323
Capex -22-20-18-29-36-35-27-103-113-188
Net Investments -126-7-20-19-23-83-77-219-177
Others 96479109152342
Cash Flow From Financing Activity -58-70-7019-36-51-44-1621-52
Net Proceeds from Shares + 0000000000
Net Proceeds from Borrowing -18-91-001-1-114
Interest Paid -26-18-9-10-19-19-26-13-16-15
Dividend Paid 000-2-200-2-3-3
Others -13-43-6131-16-32-18-038-38
Net Cash Flow -648-96227161-79120-31-16

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)22.2418.620.4617.258.369.1716.217.1426.5211.85
ROCE (%)28.7427.2732.0427.3715.9416.7226.0825.9938.4319.1
Asset Turnover Ratio1.151.211.341.31.181.051.331.261.371.2
PAT to CFO Conversion(x)0.921.470.70.741.723.360.431.550.681.78
Working Capital Days
Receivable Days133.80122.10113.10112.7097.9079.9055.4067.506468.20
Inventory Days54.2057.9048.4035.1035.7047.7036.5031.3026.5029.20
Payable Days169.60162.50176.20183.80192231185.50173.20136.10157

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Ahluwalia Contracts (India) Ltd FAQs

The current trading price of Ahluwalia Contract(I on 10-Jun-2026 13:55 is ₹793.0.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 09-Jun-2026 the market cap of Ahluwalia Contract(I stood at ₹5,345.3 Cr

The latest P/E ratio of Ahluwalia Contract(I as of 09-Jun-2026 is 20.22.

The latest P/B ratio of Ahluwalia Contract(I as of 09-Jun-2026 is 2.59.

The 52-week high of Ahluwalia Contract(I is ₹1,129.2 and the 52-week low is ₹645.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Ahluwalia Contract(I is ₹4,565 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Ahluwalia Contracts (India) Ltd is a good quality company.

The key valuation ratios of Ahluwalia Contracts (India) Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Ahluwalia Contracts (India) Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Ahluwalia Contracts (India) Ltd

Ahluwalia Contracts (India) (ACIL) is engaged in the Engineering and Construction of deal with Prestigious Projects. ACIL develops and executes Civil Engineering, high-rise building Projects that Building Projects, Design Build and also BOT Project, Special Central Vista Buildings, Hospitals, Hostel, University and Institutional Projects. ACIL’s Projects are hallmarks of quality, excellence, and precision; the company has delivered numerous engineering marvels within each of its respective segments. Driven by a stable core and a strong focus on sustainable development, the company provides specialised turnkey solutions in Engineering, Design and Construction to its growing expanse of public and private sector clients.

The company was founded by Bikramjit Ahluwalia and incorporated on June 2, 1979 under the Companies Act as a private company by the name of ‘Ahluwalia Contracts (India) Private Limited’ with the ROC. In July 1979, the company acquired the business of four partnership firms engaged in construction of which its Chairman and Managing Director, Bikramjit Ahluwalia, was a member. In the year 1989, by virtue of its high turnover, the company became a deemed public limited company under section 43-A(IA) of the Companies Act and subsequently converted itself into a public limited company on September 6, 1990 and changed its name to ‘Ahluwalia Contracts (India) Limited’. 

Business area of the company 

The company is an Engineering, Procurement and Construction (EPC) Company, engaged in the business of Construction of Buildings (Residential and Commercial complexes, Information Technology (IT) Parks, Institutional Buildings, Hospitals and Corporate office, metro station and depot, Industrial and townships, BOT projects, urban infrastructure, etc.)

Diversified portfolio of landmark projects

  • Residential and commercial buildings / complexes
  • Hotels, institutional and hospital buildings
  • Corporate offices, information technology (IT) parks, industrial complexes
  • Automated car parking lot, townships, BOT projects
  • Metro station and depot
  • Redevelopment / Upgradation of Railway Stations
  • Urban infrastructure
  • Data Centres

Awards

2021

  • GRIHA Exemplary Performance Award for Govt Medical College, Chapra Site Management (during construction) 
  • GRIHA Exemplary Performance Award for AIIMS, Jammu Site Management (during construction) 
  • Construction World Global Awards - 2021 for 3rd Fastest Growing Construction Company in small category 
  • World Book of Records London - Jolly Grant Airport, Dehradun Being created largest wall art Mura Size of 83 mtrs. 7.9 mtrs was installed 14 mtrs above the ground level using AAC blocks
  • National Safety Council of India 2021 - Jolly Grant Airport, Dehradun Best HSE Project: 2021 Prashansa Patra
  • Construction Industry Development Council (Vishwakarma Award 2021)

2022

  • World Safety Organization, State level OHS&E Awards for AIIMS, Jammu project under Workplaces OHSE Excellence Award 
  • Best Completed project - Delhi by CPWD for Central Vista Project under Pre-Engineered Building Complexes at KG Marg and Africa Avenue, New Delhi - Certificate of Merit
  • IBC Awards for 100 bedded PICU, Muzaffarpur, Bihar - Award for excellence in built environment 
  • Construction Industry Development Council (Vishwakarma Award 2022)
  • ET NOW Presents Global Real Estate Awards 2022 for Most preferred infrastructure and construction company 

2023

  • IBC Awards for Central Vista project under Office Building category 
  • IBC Awards for Auditorium, Kolkata under Infrastructure Poject category 
  • IBC Awards for Cultural center, Bodhgaya Bihar under Recreational Scheme category

2024

  • Construction Industry Development Council (Vishwakarma Award 2024) for AIIMS, Jammu - Best Construction Projects

Milestones

  • 1979: The Company was incorporated as Private Limited Company
  • 1990: The Company was converted to Public Limited Company
  • 1992: Completed the Chancery Building for Embassy of India, Dubai
  • 1996: Company launched its first public issue and got listed on DSE, CSE and JSE
  • 2002: Turnover of the Company crossed Rs 1,000 million
  • 2005: Turnover of the Company crossed Rs 3,000 million
  • 2005: Received ISO9001:2000 certification
  • 2006: Net Profits of the Company crossed Rs 150 million
  • 2006: Bonus Issue 3:1
  • 2007: Listed on BSE
  • 2007: Turnover of the Company crossed Rs 5,000 million
  • 2007: Received ISO14001 and 18001 certification
  • 2009: Listed on NSE
  • 2009: Turnover of the Company crossed Rs 11,000 million
  • 2010: Games Village Housing Complex for Commonwealth Games 2010 at New Delhi.
  • 2010: Dr S.P.M. Swimming Pool (Talkatora Stadium) for Common Wealth Games 2010 in New Delhi
  • 2015: Preferential allotment to promoters.
  • 2018: Net Profits of the Company crossed Rs 1,150 million
  • 2022: Turnover crossed Rs 25,000 million
  • 2022: Net Profits of the Company crossed Rs 1,500 million
  • 2022: Received ISO27001 Certification
  • 2023: Bagged RLDA contract for redevelopment of CST Station valuing Rs 24,500 million
  • 2025: Turnover crossed Rs 40,000 million

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