Ashoka Buildcon on good roads

Ashoka Buildcon is making new roads today, posting very good numbers for Q2FY21.

Its consolidated net profit for the quarter jumped up from Rs.11.5 crore in Q2FY20 to Rs.70.42 crore and this was on a 15% (YoY) increase in revenue from operations at Rs.1139 crore.

Consolidated EBITDA came in at Rs.421 crore, up 10% though margins slipped from 36.4% to 34.6%.

Total order book of the Company as on 30th September 2020 stands at Rs. 9,300 crore. Of the total Order Book, contribution from Roads HAM and Roads EPC is Rs. 4,323 crore and Rs. 3,247 crore, respectively, Power T&D & others is Rs. 905 crore, Railways is Rs. 781 core and CGD contributes the rest.

The market seems to be happy with the earnings as the stock is in the green. Opening at Rs.67.30 from its close of Rs.65, it rose to an intraday high at Rs.69.30. Its 20% UC of the day stands at Rs.78.