On May 23, 2024, Ashoka Buildcon Limited announced their FY 2024 and Q4 FY 2024 financial results. The company reported a revenue growth of 22% YoY in the quarter ended March 2024.
The total income of Ashoka Buildcon was ₹2,532 crore in Q4 FY 2024 against ₹2,068 crore in Q4 FY 2023. The company reported an EBITDA of ₹219 crore, a 25% increase compared to Q4 FY 2023.
However, the company’s Profit After Tax was ₹268.5 crore in Q4 FY 2024, which dropped by 38% compared to ₹435.1 crore in Q4 FY 2024.
In FY 2024, the company reported a total income of ₹7,841 crore, which is 21% higher compared to ₹6,478 crore in FY 2023. The EBITDA was ₹691 crore, with an EBITDA margin of 8.8%.
The company reported a consolidated debt of ₹7,139 crore. The Standalone debt is ₹1,143 crore, which comprises ₹123 crore of Equipment/Term Loans and ₹1,020 crore of Working Capital loans.
In January 2024, the company received a Letter of Acceptance (LoA) from the City & Industrial Development Corporation of Maharashtra Limited (CIDCO) for designing and constructing a Stilt Bridge for Eastern Connectivity for Navi Mumbai International Airport (NMIA) in a Joint Venture for total consideration of ₹662.55 crore.
Later in February, they got a Letter of Award for the project Six laning of Aurangabad to Bihar Jharkhand Border (Chordaha), Section of NH-2 (PKG -1), in the state of Bihar under Bharatmala on EPC mode for a total consideration of ₹520 crore.
Ashoka Buildcon Limited, along with an investment fund managed by Morgan Stanley India Infrastructure (MSII), has divested its entire stake in Unison Enviro Private Limited, a subsidiary of the company, to Mahanagar Gas Limited (MGL). The deal was finalised at an equity valuation of ₹562.09 crore, with Ashoka Buildcon Limited receiving ₹286.67 crore for its 51% stake.
In the same quarter, Ashoka Buildcon Limited purchased the remaining 50% fully paid-up equity shares from GVR Infra Projects Limited in GVR Ashoka Chennai ORR Limited. This acquisition made GVR Ashoka Chennai ORR Limited a wholly-owned subsidiary of Ashoka Buildcon Limited.
On May 23, 2024, the share price of Ashoka Buildcon Ltd opened at ₹184.90, touching the day’s high at ₹197.50, as of 11:04 AM on the NSE.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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