Ahluwalia Contracts bags order, stock advances

Integrated construction company Ahluwalia Contracts surged as much as 7 per cent to touch intra-day high of around Rs. 305 apiece, after the company informed the bourses that it has bagged order worth nearly Rs.425.42 crore.

The order includes construction of Government Medical College & Hospital Building at Chapra, Bihar. During the fiscal year 2018-19, the overall order inflow for Ahluwalia Contract stood at Rs. 3,529.19 crore. 

In the recently concluded quarter (Q2FY19), the company recorded 31 per cent yoy revenue growth to Rs. 439.2 crore. Also, its net profit in Q2FY19 grew around 21 per cent yoy to Rs. 31.16 crore. The total order book as on Q2FY19 stood at Rs. 4,284.44 crore which translate into book-to-bill of 2.6x on TTM revenue giving the revenue visibility for the next 2 to 3 years.

The stock of Ahluwalia Contract opened gap up at Rs. 300 apiece as against its previous close of Rs. 285. At 15.23 hours, the stock was trading at Rs. 296, up by almost 3.8 per cent from its previous close.