Rs 16,457 Crore Order Book: Civil Construction Company Sold 51 Per Cent of Prakashmaan Renewable Energy Pvt Ltd to Sunbreeze Renewables Pvt Ltd
The stock is up by 26.4 per cent from its 52-week low of Rs 148 per share.
Ashoka Buildcon Limited has announced a strategic restructuring involving the sale of a majority stake in its subsidiary, Prakashmaan Renewable Energy Private Limited (Prakashmaan). The company has divested 51 per cent of its shareholding in Prakashmaan, amounting to 2,550 equity shares, to Sunbreeze Renewables Private Limited (Sunbreeze). The total consideration received for this transaction is Rs 1,98,00,000 (Rupees One Crore Ninety-Eight Lakh only). Following this sale, Ashoka Buildcon will retain a 49 per cent stake (2,450 equity shares) in Prakashmaan, which will now be classified as an Associate Company.
The agreement for this sale was executed and completed on April 8, 2025, with the transfer of shares and receipt of the consideration finalized on the same date. Due to Prakashmaan's recent incorporation on September 24, 2024, during the financial year 2024-25, no audited financial statements are currently available. Consequently, data regarding the audited turnover, revenue, income, and net worth contributed by Prakashmaan during the last financial year is not available. The buyer, Sunbreeze Renewables Private Limited, is a technology-agnostic renewable asset management company with a significant presence across seven states in India and does not belong to Ashoka Buildcon's promoter, promoter group, or group companies.
Ashoka Buildcon Ltd is engaged in the construction and infrastructure facilities business on an EPC (engineering, procurement and construction) and BOT (Build-Operate-Transfer) basis. It is also involved in the sale of RMC (ready-mix concrete). The company has a market cap of over Rs 5,000 crore and its current order book as of December 31, 2024, stands at Rs 16,457 crore.
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According to Quarterly Results, the net sales decreased by 10 per cent to Rs 2,387.9 crore while the net profit increased by 502 per cent to Rs 661.5 crore in Q3FY25 compared to Q3FY24. In its nine-month results, the net sales increased by 9 per cent to Rs 7,342.2 crore and the net profit increased by 326 per cent to Rs 1,281.9 crore in 9MFY25 compared to 9MFY24. In its annual results, the company reported net sales of Rs 9,798 crore and net profit of Rs 521 crore in FY24.
The stock is up by 26.4 per cent from its 52-week low of Rs 148 per share. In December 2024, FIIs increased their stake to 8.52 per cent compared to 7.95 per cent in September 2024. Investors should keep an eye on this Small-Cap stock for upcoming trading sessions.
Disclaimer: The article is for informational purposes only and not investment advice.