Ashoka Buildcon Q4 Review - Execution In Line; Margin Below Our Estimate: Motilal Oswal

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Ashoka Buildcon Ltd.’s revenue grew 12% YoY and 41% QoQ to Rs 15.6 billion (9% above our estimate) in Q4 FY22. However, Ebitda margin contracted 90 basis points QoQ to 10.0% (below our estimate of 11.1%).Ebitda declined 22% YoY to Rs 1.6 billion while profit after tax grew 26% YoY to Rs 1.9 billion (our estimate: Rs 1.2 billion). Order book (excluding the recently won projects) stood at ~Rs 137 billion, with an order book/revenue ratio of ~2.8 times providing comfort on revenue growth. Order book was dominated by the roads and railways segment (75% of the order book). The order pipeline remained robust and Ashoka Buildcon is targeting Rs 100 billion of orders in FY23E. The company has initiated the sale of its investment in the joint venture, GVR Ashoka Chennai ORR Ltd., for which the share purchase agreement has been signed for a consideration of Rs 6.9 billion..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Ashoka Buildcon Q4 Review - Execution In Line; Margin Below Our Estimate: Motilal Oswal

Ashoka Buildcon Q4 Review - Execution In Line; Margin Below Our Estimate: Motilal Oswal

Choose a plan