Ashoka Buildcon soars 9%, hits all-time high on order win worth Rs 2,152 cr

Ashoka Buildcon hits all-time-high: Construction company Ashoka Buildcon stock soared as much as 9.05 per cent to hit an all-time-high (ATH) of Rs 199.90 per share on Monday. 

The surge came after the company bagged two orders worth Rs 2,150 crore from Maharashtra State Road Development Corporation Ltd (MSRDC).

In an exchange filing, Ashoka Buildcon said, “We are pleased to inform you that the Company has emerged as Lowest Bidder for the Two Projects of Maharashtra State Road Development Corporation Ltd.”

The first project involves constructing a major bridge across Jaigad Creek between Tawsal and Jaigad on the Revas Reddi coastal highway (SH (Special) No. 5) in Ratnagiri district, valued at Rs 794.85 crore. The project is slated for completion within 36 months, including Monsoon.

The second project requires the construction of a major bridge across Kundalika Creek between Revdanda to Salav on the Revas Reddi coastal highway (SH (Special) No. 5) in Ratnagiri district, with a value of Rs 1,357.87 crore. Similarly, this project is expected to be finished within 36 months, including Monsoon.

Established in 1993, Ashoka Buildcon specialises in infrastructure construction on both engineering, procurement, and construction (EPC) and built operate and transfer (BOT) bases, as well as the sale of ready mix concrete.

Financial performance

In the March (Q4FY24) quarter, Ashoka Buildcon’s total Income stood at Rs 2,532 crore as opposed to Rs 2,068 crores in the same quarter last year (Q4FY23). 

The company’s earnings before interest, tax, depreciation and amortisation (Ebitda) came in at Rs  219 crore. Consequently, the Ebitda margin stood at 8.6 per cent during the same period. 

“BOT division recorded a toll collection of Rs 329 crores in Q4 FY24, which grew by 9.8 per cent Y-o-Y,” the company said. 

The market capitalisation of Ashoka Buildcon stands at Rs 5,500.77 crore, according to the Bombay Stock Exchange (BSE), with its 52-week low at Rs 78.01 per share.

At 2:12 PM, Ashoka Buildcon stock was trading 7.04 per cent higher at Rs 196.20 per share. By comparison, S&P BSE Sensex was trading 3.24 per cent higher at 76,354.61 levels.