Ashoka Buildcon Ltd

Ashoka Buildcon maintains a conservative capital structure with a debt-to-equity ratio of 0.24 and a current ratio of 2.17, indicating strong short-term liquidity coverage. The company holds INR 5.91 billion in cash and equivalents against INR 16.08 billion in long-term debt, resulting in a net debt position that triggers a medium liquidity risk flag despite the low leverage. The balance sheet shows total assets of INR 130.50 billion and total equity of INR 65.79 billion, providing a stable foundation for operations.

Profitability metrics demonstrate exceptional efficiency, with a return on equity of 38.76% and a return on assets of 19.54%. The company reports a net income of INR 25.50 billion on revenue of INR 75.20 billion, yielding a net margin of approximately 33.9%. Operating income stands at INR 38.65 billion, which exceeds net income, suggesting potential non-operating expenses or tax adjustments in the final net figure. These returns significantly outpace typical industry medians for construction firms, reflecting strong operational leverage.

Net income surged 50.5% year-over-year to INR 25.5 billion, demonstrating strong profitability growth despite revenue contraction.

Free cash flow increased 37.7% to INR 26.2 billion, providing substantial liquidity for debt reduction and shareholder returns.

Long-term debt dropped to INR 16.1 billion with a low debt-to-equity ratio of 0.24, reducing financial risk.

Cash conversion ratio of 0.26 is well below the cohort median of 0.66, indicating weaker cash generation relative to peers.

The company faces medium liquidity risk, which could constrain operational flexibility or increase financing costs in tight markets.

Revenue INR 19.54B, −27,5% YoY; Operating income −71,6% YoY.

• ▍Revenue INR 19.54B, −27,5% YoY
• ▍Operating income −71,6% YoY
• ▍Net income −66,9% YoY
• ▍Net margin 7.3%

Revenue INR 18.27B, −23,5% YoY; Operating income +376,9% YoY.

• ▍Revenue INR 18.27B, −23,5% YoY
• ▍Operating income +376,9% YoY
• ▍Net income +222,6% YoY
• ▍Net margin 115.5%

Revenue INR 18.51B, −25,6% YoY; Operating income −59,7% YoY.

• ▍Revenue INR 18.51B, −25,6% YoY
• ▍Operating income −59,7% YoY
• ▍Net income −82,9% YoY
• ▍Net margin 4.2%

Revenue INR 18.87B, −23,5% YoY; Operating income +11,0% YoY.

• ▍Revenue INR 18.87B, −23,5% YoY
• ▍Operating income +11,0% YoY
• ▍Net income +44,6% YoY
• ▍Net margin 11.5%

Revenue INR 26.94B; Operating income INR 7.37B.

• ▍Revenue INR 26.94B
• ▍Operating income INR 7.37B
• ▍Net margin 16.0%

Revenue INR 23.88B; Operating income INR 5.81B.

• ▍Revenue INR 23.88B
• ▍Operating income INR 5.81B
• ▍Net margin 27.4%

Revenue INR 24.89B; Operating income INR 8.07B.

• ▍Revenue INR 24.89B
• ▍Operating income INR 8.07B
• ▍Net margin 18.4%

Revenue INR 24.65B; Operating income INR 5.05B.

• ▍Revenue INR 24.65B
• ▍Operating income INR 5.05B
• ▍Net margin 6.1%

Revenue INR 75.20B, −25,1% YoY; Operating income +47,0% YoY.

• ▍Revenue INR 75.20B, −25,1% YoY
• ▍Operating income +47,0% YoY
• ▍Net income +50,5% YoY
• ▍Free cash flow +37,7% YoY
• ▍Net margin 33.9%

Revenue INR 100.37B, +2,4% YoY; Operating income +29,1% YoY.

• ▍Revenue INR 100.37B, +2,4% YoY
• ▍Operating income +29,1% YoY
• ▍Net income +236,8% YoY
• ▍Free cash flow +157,2% YoY
• ▍Net margin 16.9%

Revenue INR 97.98B, +21,0% YoY; Operating income +30,6% YoY.

• ▍Revenue INR 97.98B, +21,0% YoY
• ▍Operating income +30,6% YoY
• ▍Net income +72,0% YoY
• ▍Free cash flow +63,0% YoY
• ▍Net margin 5.1%

Revenue INR 81.00B, +36,2% YoY; Operating income −9,5% YoY.

• ▍Revenue INR 81.00B, +36,2% YoY
• ▍Operating income −9,5% YoY
• ▍Net income −62,4% YoY
• ▍Free cash flow −52,9% YoY
• ▍Net margin 3.6%