Ashoka Buildcon Ltd

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Ashoka Buildcon is presently engaged in the business of construction of infrastructure facilities on Engineering, Procurement and Construction Basis (EPC) and Built,Operate and Transfer (BOT) Basis and Sale of Ready Mix Concrete. The Company has promoted Special Purpose Vehicles (SPVs) for some of its projects, wherein'Toll Collection Rights' are received in exchange of the Construction Cost. For this, the SPVs significantly engage the services of the Company for contract related activities due to inherent execution capabilities / expertise and experience of the Company.

  • Market Cap 3,172 Cr.
  • Current Price 113
  • High / Low 119 / 37.0
  • Stock P/E 11.8
  • Book Value 16.4
  • Dividend Yield 0.00 %
  • ROCE 20.8 %
  • ROE 45.5 %
  • Face Value 5.00

Pros

  • Company's median sales growth is 21.13% of last 10 years

Cons

  • Company has low interest coverage ratio.
  • Company has a low return on equity of -0.88% for last 3 years.
  • Company's cost of borrowing seems high
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
729 962 1,005 1,367 1,597 1,168 1,038 1,280 1,584 761 1,189 1,305
524 656 682 997 1,209 813 669 902 1,110 514 797 889
Operating Profit 205 306 322 370 388 355 368 378 474 247 392 416
OPM % 28% 32% 32% 27% 24% 30% 35% 30% 30% 32% 33% 32%
Other Income -35 28 13 -23 7 22 18 27 26 35 35 29
Interest 114 248 242 262 269 282 252 253 257 239 243 240
Depreciation 71 60 62 66 70 76 79 82 64 52 70 77
Profit before tax -15 25 32 19 55 20 56 70 180 -9 115 129
Tax % -159% 130% 112% 190% 122% 217% 80% 64% 18% -309% 39% 32%
Net Profit -7 -5 -4 -16 -10 -20 18 32 135 -28 73 88
EPS in Rs -0.26 -0.18 -0.13 -0.56 -0.36 -0.70 0.64 1.15 4.79 -1.00 2.61 3.15
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
518 796 1,303 1,500 1,853 1,795 2,320 2,825 2,973 3,601 4,930 5,070 4,840
407 632 1,050 1,175 1,482 1,414 1,847 1,919 2,037 2,462 3,551 3,495 3,311
Operating Profit 111 163 253 325 371 380 473 905 935 1,140 1,379 1,575 1,529
OPM % 22% 21% 19% 22% 20% 21% 20% 32% 31% 32% 28% 31% 32%
Other Income 15 19 140 35 15 16 29 37 82 111 31 93 126
Interest 65 49 72 114 139 134 272 800 908 994 1,021 1,043 979
Depreciation 12 15 69 85 132 139 152 269 264 291 258 300 262
Profit before tax 50 118 253 161 114 124 78 -126 -155 -35 131 326 414
Tax % 23% 27% 17% 28% 60% 56% 102% -77% -45% -239% 131% 51%
Net Profit 35 80 208 125 84 97 81 -85 -205 -111 -33 165 268
EPS in Rs 8.78 5.26 3.55 4.11 3.42 -3.04 -7.31 -3.96 -1.19 5.89 9.55
Dividend Payout % 0% 0% 0% 0% 25% 24% 27% -33% -15% -13% 0% 0%
Compounded Sales Growth
10 Years:20%
5 Years:17%
3 Years:19%
TTM:-5%
Compounded Profit Growth
10 Years:7%
5 Years:17%
3 Years:38%
TTM:1506%
Stock Price CAGR
10 Years:7%
5 Years:-1%
3 Years:-8%
1 Year:25%
Return on Equity
10 Years:2%
5 Years:-9%
3 Years:-1%
Last Year:46%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
59 58 63 55 53 79 79 94 94 94 140 140 140
Reserves 284 404 830 964 983 1,169 1,278 1,621 376 222 147 274 319
Borrowings 723 1,122 1,283 1,707 2,454 3,193 3,873 4,692 4,754 5,101 6,044 6,262 5,746
209 490 492 2,650 8,949 9,078 9,437 4,571 5,580 6,133 6,770 6,958 7,383
Total Liabilities 1,261 2,062 2,657 5,374 12,439 13,518 14,667 10,977 10,804 11,550 13,101 13,634 13,589
491 461 1,020 1,626 1,500 4,025 12,571 8,515 8,016 7,875 7,874 7,683 7,604
CWIP 373 814 604 2,678 9,610 7,962 151 20 37 46 58 86 83
Investments 91 149 139 205 282 285 240 228 186 247 284 186 194
306 638 893 865 1,046 1,246 1,705 2,215 2,565 3,381 4,885 5,678 5,708
Total Assets 1,261 2,062 2,657 5,374 12,439 13,518 14,667 10,977 10,804 11,550 13,101 13,634 13,589

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
209 155 134 2,472 6,500 386 390 251 827 621 -90 1,069
-382 -489 -432 -2,798 -7,074 -922 -812 -104 -63 -315 -244 -117
142 349 285 305 576 579 369 25 -866 -98 311 -571
Net Cash Flow -30 15 -12 -21 2 43 -53 172 -101 208 -24 381

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 12% 13% 11% 11% 9% 7% 7% 12% 12% 18% 20% 21%
Debtor Days 25 84 58 36 17 27 57 67 44 70 78 65
Inventory Turnover 0.74 0.44 0.28 0.47 0.26 0.20 0.21 1.04 0.93 2.42 3.57 2.69

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
53.99 54.11 54.25 54.26 54.26 54.26 54.26 54.26 54.33 54.48 54.48 54.48
4.90 4.76 4.40 4.25 4.03 4.26 3.86 3.74 5.47 3.71 3.20 3.24
30.95 30.43 30.66 31.47 31.64 31.10 33.77 32.78 31.62 29.63 27.35 27.64
10.16 10.70 10.69 10.02 10.08 10.38 8.12 9.23 8.58 12.18 14.97 14.64

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