Ashoka Buildcon Ltd - Stock Valuation and Financial Performance

BSE: 533271 | NSE: ASHOKA | Engineering - Construction | Small Cap

Ashoka Buildcon Share Price

171.05 -1.75 -1.01%
as on 12-Apr'24 16:59

DeciZen - make an informed investing decision on Ashoka Buildcon

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

Semi Strong

Ashoka Buildcon stock performance -

mw4me loader
P/E Ratio (CD):
14.80
Market Cap:
4,801.8 Cr.
52-wk low:
74.8
52-wk high:
195.6

Is Ashoka Buildcon Ltd an attractive stock to invest in?

1. Is Ashoka Buildcon Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Ashoka Buildcon Ltd is a average quality company.

2. Is Ashoka Buildcon Ltd undervalued or overvalued?

The key valuation ratios of Ashoka Buildcon Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is Ashoka Buildcon Ltd a good buy now?

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

10 Year X-Ray of Ashoka Buildcon:

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.
Ashoka Buildcon Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 4.7%5.4%7.9%6.5%10.7%11.9%13.4%13.3%19.6%26.2%-
Value Creation
Index
-0.7-0.6-0.4-0.5-0.2-0.2-0.1-0.10.40.9-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,8482,2902,2242,9733,6014,9305,0704,9925,9998,1009,195
Sales YoY Gr.-23.9%-2.9%33.7%21.1%36.9%2.9%-1.6%20.2%35%-
Adj EPS 4.84.2-1.8-8.4-4.2-0.15.59.819.51511.6
YoY Gr.--11.3%-143%NANANANA77.6%98.6%-23.2%-
BVPS (₹) 52.75761.116.711.310.214.822.149.262.573.2
Adj Net
Profit
113101-51.1-237-117-1.5155276548420325
Cash Flow from Ops. 386390251827621-90.31,070155353492-
Debt/CF from Ops. 8.310.418.75.88.2-675.843.210.33.9-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 17.9%17.6%16.9%35%
Adj EPS 13.6%NA39.4%-23.2%
BVPS1.9%40.9%61.8%27.1%
Share Price 10.6% 5.5% 23.6% 102.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
9.87.7-3.3-21.7-29.7-0.544.353.454.826.817
Op. Profit
Mgn %
21.422.341.33231.628.331.130.829.824.323.6
Net Profit
Mgn %
3.80.8-8.5-8.6-3.5-0.235.595.23.5
Debt to
Equity
2.632.710.116.221.115.110.82.61.1-
Working Cap
Days
21122330127328028434038837726398
Cash Conv.
Cycle
29468752111719211279

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 16.90%

Net Profit is growing at healthy rate in last 3 years 39.37%

Debt to equity has declined versus last 3 years average to 1.09

Sales growth is good in last 4 quarters at 20.77%

Return on Equity has declined versus last 3 years average to 17.00%

Latest Financials - Ashoka Buildcon Ltd.

Standalone Consolidated
TTM EPS (₹) 21.7 11.6
TTM Sales (₹ Cr.) 7,270 9,195
BVPS (₹.) 126.2 73.2
Reserves (₹ Cr.) 3,404 1,913
P/BV 1.35 2.34
PE 7.88 14.80
From the Market
52 Week Low / High (₹) 74.75 / 195.55
All Time Low / High (₹) 27.53 / 196.63
Market Cap (₹ Cr.) 4,802
Equity (₹ Cr.) 140.4
Face Value (₹) 5
Industry PE 41.3

Management X-Ray of Ashoka Buildcon:

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 (%)

Event Update

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Analyst's Notes

Key Ratios of Ashoka Buildcon

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales1,8482,2902,2242,9733,6014,9305,0704,9925,9998,100
Operating Expenses 1,4661,8171,3052,0222,4623,5363,4953,4564,2106,132
Manufacturing Costs8138167561,1461,3381,6321,7981,5122,1222,819
Material Costs4767332835978321,5081,1591,2911,5202,662
Employee Cost 516796118141188293321354388
Other Costs 125201171161150207245332213262
Operating Profit 3824739189511,1401,3941,5751,5351,7891,969
Operating Profit Margin (%) 20.7%20.7%41.3%32.0%31.6%28.3%31.1%30.8%29.8%24.3%
Other Income 30298182527782130148135
Interest 1342728009089941,0211,0439701,0041,104
Depreciation 139152269264291258300276338341
Exceptional Items -160-5700-6000326-72
Profit Before Tax 12478-126-155-35131326438932588
Tax 6980977084171166164161215
Profit After Tax 55-1-224-225-119-40160273771373
PAT Margin (%) 3.0%-0.1%-10.1%-7.6%-3.3%-0.8%3.2%5.5%12.9%4.6%
Adjusted EPS (₹)4.13.4-3.0-7.3-4.0-1.25.99.827.713.2
Dividend Payout Ratio (%)24%27%-33%-15%-13%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 1,2481,3571,7154693162874146191,3811,755
Share Capital 7979949494140140140140140
Reserves 1,1691,2781,6213762221472744791,2401,614
Minority Interest46550556211794119128211219220
Debt3,1033,7844,4244,6374,9345,7365,8166,1633,2711,675
Long Term Debt2,9623,5844,2294,5494,8705,4075,5585,8762,936764
Short Term Debt1412011948863328258287335911
Trade Payables5706335405746499477387278591,061
Others Liabilities 8,1308,3783,7144,9745,5185,9566,4556,4369,64412,355
Total Liabilities 13,51614,65710,95510,77111,51013,04513,55114,15615,37517,066

Fixed Assets

Gross Block4,67213,2029,1119,2609,3509,6059,6609,7103,8543,222
Accumulated Depreciation6476315961,2441,4751,7312,0002,2542,5792,929
Net Fixed Assets4,02512,5718,5158,0167,8757,8747,6607,4571,275294
CWIP 7,9621512037465877627362
Investments 2852402281862472841862146532
Inventories6277291,073360419426435437450561
Trade Receivables1313645163616891,048931896764910
Cash Equivalents 9441171102253234754631729526
Others Assets3925614321,7091,9803,1213,5074,46112,01914,681
Total Assets 13,51614,65710,95510,77111,51013,04513,55114,15615,37517,066

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 386390251827621-901,070155353492
PBT 13978-126-155-35131326438932588
Adjustment 2944591,0121,1201,3311,3211,3351,2748621,378
Changes in Working Capital -4-132-652-44-556-1359-388-1412-1257-1301
Tax Paid -70-87-110-93-120-182-204-145-184-173
Cash Flow From Investing Activity -922-812-104-63-315-244-117-176-233-311
Capex -1,080-887-109-132-159-209-103-82-137-175
Net Investments -351-2853-109-40-33-126-165-114
Others 161243216-465193269-22
Cash Flow From Financing Activity 57936925-866-98311-571-221-35-311
Net Proceeds from Shares 0-115010035141520
Net Proceeds from Borrowing 00000624212386461-132
Interest Paid -134-272-800-908-510-596-631-650-698-777
Dividend Paid -27-29-50-15-15-150000
Others 73968137457426263-16728200599
Net Cash Flow 43-53171-101208-24381-24285-130
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)4.81-0.1-14.56-20.57-30.22-13.3745.7452.9277.1423.79
ROCE (%)6.467.111.3912.9518.0219.6121.0720.1131.3939.06
Asset Turnover Ratio0.140.160.170.270.320.40.380.360.410.5
PAT to CFO Conversion(x)7.02N/AN/AN/AN/AN/A6.690.570.461.32
Working Capital Days
Receivable Days21397254536471675138
Inventory Days11510814788393131322723
Payable Days346251660320257187257206187125

Ashoka Buildcon Ltd Stock News

Ashoka Buildcon Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Ashoka Buildcon on 12-Apr-2024 16:59 is ₹171.1.
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 12-Apr-2024 16:59 the market cap of Ashoka Buildcon stood at ₹4,801.8.
The latest P/E ratio of Ashoka Buildcon as of 12-Apr-2024 16:59 is 7.88.
The latest P/B ratio of Ashoka Buildcon as of 12-Apr-2024 16:59 is 1.35.
The 52-week high of Ashoka Buildcon is ₹195.6 and the 52-week low is ₹74.75.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Ashoka Buildcon is ₹7,270 ( Cr.) .

About Ashoka Buildcon Ltd

Ashoka Buildcon Ltd. is engaged in Engineering, Procurement and Construction, Operations and Maintenance of Roads & Highways. The Company is the Flagship Company of the Group, which comprises the Subsidiaries, step down subsidiaries and intermediate holding company. The Company has formed various Special Purpose Vehicle(s) for implementation of Projects awarded to it by various Government Agencies and National Highway Authority of India (NHAI).

Ashoka has worked in many states across the country, and completed prestigious projects for Central as well as State Governments. Overseas it is constructing road network for Housing Development Corporation in the Republic of Maldives. The company is one of the first Indian infrastructure companies to be certified for Integrated Management Systems, which encompasses ISO certification for Quality, Occupational Health and Safety and Environment.

The company is strengthened with a strong talent pool of technical as well as support staff. It’s strong financials give it the ability to bid and execute large scale projects.

Business area of the company

The company is one of the leading highway developers in India. The Company is an integrated EPC and BOT player. It has a portfolio of various PPP projects, which is the largest in number by any private player in India. Besides construction of highways and bridges the company is also engaged in Power Transmission and Distribution on EPC basis.

Verticals

  • Highways
  • Bridges
  • Power (EPC)
  • Buildings
  • City Gas Distribution
  • Railways

Awards and recognitions

  • 2012: Ashoka Buildcon Limited, was honoured during the EPC World National Level Awards 2012 and has been awarded for Outstanding Contribution in Roads and Highways.
  • 2012: Ashoka Buildcon Limited, was honoured during the EPC World National Level Awards 2012 and has been awarded for Outstanding Contribution in Roads and Highways.
  • 2013: Ashoka Buildcon Limited, was honoured during the Construction Week Awards - 2013 and has been awarded for Infrastructure Company of The Year - 2013.
  • 2014: The Federation of Engineering Institutions of Asia and the Pacific (FEIAP) has awarded Mr Sanjay Londhe,Director & CEO Projects, Ashoka Buildcon Ltd as ‘Engineer of the Year 2014’ at an event in Beijing.
  • 2014: Ashoka Buildcon Limited, was honored during the Worldwide Achievers Awards - 2014 and has been awarded for Best Construction Company of The Year.
  • 2014: Ashoka Buildcon Ltd. Bags two awards at the Construction Week National Awards- 2014. Road Contractor of the Year & Roads and Highways Project of the Year (Runner up).
  • 2014: Ashoka Buildcon Limited, was honored during the Worldwide Achievers Awards - 2014 and has been awarded for Best Construction Company of The Year.
  • 2017: Ashoka Buildcon Limited, was honored during the ‘CIDC Vishwakarma Award -2017’ and has been awarded for ‘Best Professionally Managed Company.
  • 2017: Ashoka Buildcon Ltd’s Munger Power project has been Awarded as “Best Executed Power Project” by Construction Times Award 2017.
  • 2017: Mr. Sanjay Londhe, CEO & Director of Ashoka Buildcon Ltd has been Awarded as “CEO of The Year” by Construction Times Award 2017.
  • 2017: Ashoka Buildcon Ltd Awarded as “Infrastructure Company Of the Year” by D & B Awards - 2017.
  • 2018: Ashoka Buildcon Ltd Awarded for “Innovations in CSR Practices” by ET Now Presents CSR Leadership Awards -2018.
  • 2018: Ashoka Buildcon Ltd’s Roopnarayan Bridge project won the Silver Award in National Highways Awards for Excellence by Ministry of Road Transport & Highways.
  • 2018: Ashoka Buildcon Ltd. has been honored as Infra Company of The Year at the EPC World Awards
  • 2018: Ashoka Buildcon Ltd. honoured as Dream Company to Work For by ET Now presents Dream Companies to Work for
  • 2019: Ashoka Buildcon Limited, was honoured during the CIA World Infra Awards and has been awarded for Best Infrastructure Company of The Year - 2019.
  • 2020: Ashoka Buildcon Limited, was honoured during the CIA World Infra Awards and has been awarded for Best Roads & Highways Company of The Year - 2020.

Accreditations

  • Integrated Management System comprising of Certification of ISO 9001: 2008, ISO 14001: 2008 and OHSAS 18001: 2007.
  • Environmental Management System ISO 14001: 2004.
  • Occupational Health and Safety Management System 18001: 2007.
  • Quality Management System ISO 9001: 2008.
  • Green House Gases ISO 14064.1:2006 & ISO 14064.2:2006.
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