Rs 10,356 crore order book: This small-cap civil construction company has been declared as the Lowest Bidder (L-1) for the project worth Rs 918 crore from BMC
The shares of the company have a PE of 12.7x whereas the industry PE is 35.8x. The stock gave returns of 87.26 per cent in just 1 year.
Today, shares of Ashoka Buildcon Limited jumped by 1.84 per cent to Rs 249 per share from its previous closing of Rs 244.25.
Ashoka Buildcon Limited had submitted a bid for the Project to Brihanmumbai Municipal Corporation (BMC). Further to apprise that the Company has been declared as the Lowest Bidder (L-1) for the Construction of Flyover Arm1 Arm-2 at T Junction on Sion Panvel Highway Maharashtra Nagar in M/E Ward. The quoted Bid Price for the Project is Rs 918.00 Crore, excl. GST.
Earlier, the Company had submitted a bid for the Project to the City & Industrial Development Corporation of Maharashtra Limited (CIDCO) in a Joint Venture, where the Company is the Lead Member of the JV. Further to apprise that the Ashoka JV has been declared as the Lowest Bidder (L-1) for the said Project. The quoted Bid Price for the Project is Rs 1,667.78 Crore, excl. GST.
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Order book: As of June 2024, the company has an order book of Rs 10,356 crore.
For the quarter ending June 2024, the company reported a revenue of Rs 1,900.80 crore, marking a 22.07 per cent increase from Rs 1,557.20 crore in June 2023. Net profit rose significantly to Rs 40.8 crore from Rs 16.4 crore in the same period last year, reflecting a 148.78 per cent growth. For the full financial year 2024, revenue reached Rs 9,798 crore, up 20.96 per cent from Rs 8,100 crore in FY23. Net profit also grew to Rs 521 crore, up 39.68 per cent from Rs 373 crore in FY23.
Ashoka Buildcon Ltd is engaged in the business of construction and infrastructure facilities on an EPC and BOT basis. It is also involved in the sale of RMC (ready-mix concrete).
Ashoka Buildcon Ltd has a market cap of Rs 6,918 crore. The company has a good return on equity (ROE) track record in 2 years ROE of 28.3 per cent. The company's median sales growth has been 21 per cent in the last 10 years.
The shares of the company have a PE of 12.7x whereas the industry PE is 35.8x. The stock gave returns of 87.26 per cent in just 1 year.
Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.