Ashoka Buildcon Limited Earnings Summary — Q1 FY2027
Ashoka Buildcon Reports Q1 FY27 Results Amid Management Re-designation and Moderate Execution Growth
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue declined 23.3% sequentially in Q1 FY2027.
- Revenue of ₹1,500 Cr is 20.5% lower year-on-year.
- Revenue has compounded at -27.1% annualised over the last 10 quarters.
- Net profit of ₹128 Cr is 41.2% below the same quarter last year.
- Profit growth is trailing revenue growth this quarter.
- Net profit has compounded at -25.7% annualised across the period.
- Operating margin stands at 17.2% in Q1 FY2027.
- Operating margin compressed by 1453 bps year-on-year.
- Over the last two years operating margin has contracted by 710 bps.
- PBT margin is 11.5%.
- Expenses grew -3.6% against revenue growth of -20.5%.
- Operating profit of ₹258 Cr is 56.9% lower year-on-year.
- Operating leverage has been under pressure recently.
- 0 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 18/100 (Weak) on the latest 10 quarters.
- Business momentum has softened and warrants monitoring.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Softening | 1,500 | 1,954 | 1,827 | 1,851 | 1,887 | 2,694 | 2,388 | 2,489 | 2,465 | 3,052 |
| Expenses | Softening | 1,242 | 1,696 | 1,392 | 1,266 | 1,288 | 1,917 | 1,749 | 1,584 | 1,866 | 2,426 |
| Operating Profit | Softening | 258 | 258 | 435 | 585 | 599 | 777 | 639 | 905 | 599 | 626 |
| Operating Margin | Stable | 17.2% | 13.2% | 23.8% | 31.6% | 31.7% | 28.8% | 26.8% | 36.4% | 24.3% | 20.5% |
| Other Income | Volatile | 34 | 25 | 2,416 | -163 | 50 | 61 | 39 | 40 | 29 | 193 |
| Interest | Declining | 83 | 82 | 200 | 318 | 311 | 318 | 313 | 307 | 308 | 334 |
| Depreciation | Softening | 36 | 41 | 42 | 40 | 38 | 40 | 58 | 98 | 94 | 68 |
| Profit Before Tax | Volatile | 173 | 160 | 2,609 | 64 | 300 | 481 | 307 | 540 | 227 | 417 |
| Tax | Volatile | 46 | 13 | 498 | -26 | 73 | 30 | -355 | 78 | 69 | 163 |
| Net Profit | Volatile | 128 | 143 | 2,111 | 78 | 217 | 432 | 655 | 457 | 150 | 250 |
| Net Margin | Volatile | 8.5% | 7.3% | 115.5% | 4.2% | 11.5% | 16.0% | 27.4% | 18.4% | 6.1% | 8.2% |
Key Takeaways
- Standalone revenue for Q1 FY27 declined 1.74% YoY to ₹1,288 crore, while Standalone Net Profit saw a marginal increase of 2.99% YoY to ₹31.5 crore.
- Management re-designated Mr. Sanjay Londhe and Mr. Ashish Kataria from Whole-time Directors to Joint Managing Directors to lead strategic growth and execution.
- Operating margins (Standalone) improved sequentially to 7.22% from 6.86% in the preceding quarter, though they remain lower than the 9.33% reported in Q1 FY26.
- Ashoka Buildcon is progressing on the divestment of its stake in six Hybrid Annuity Mode (HAM) subsidiaries and GVR Ashoka Chennai ORR Limited, currently classified as held for sale.
- The company's order book stood at ₹15,312 crore as of March 31, 2026, with significant new wins in Saudi Arabia, Liberia, and Angola enhancing the international portfolio.
- A legal matter involving the CBI regarding a project in Bihar remains sub-judice; however, the project is completed and the company has filed a writ petition for quashing the allegations.
Management Guidance
Management is targeting a 20% revenue growth for the full fiscal year with an order inflow target of ₹8,000 to ₹10,000 crore. They expect EBITDA margins to recover to the 9.5%–10.5% range as execution picks up post-monsoon.
Sentiment Shift
Stable
While revenue growth has been temporarily impacted by project mix and macroeconomic headwinds, the steady order book and ongoing asset monetization provide a stable outlook.
Outlook
The outlook remains constructive for FY27 driven by the government's renewed push for BOT toll projects and a strong pipeline in Power T&D and International EPC. The company expects to normalize working capital cycles by the end of Q2 FY27.
From the Annual Report (Key Quotes)
“FY '26 has been a transition year for infrastructure sector... road construction is expected to be in the range of 9,000 to 9,500 kilometers during the year.”
“We will definitely reach a 2-digit figure [for EBITDA margins] for next year.”
“The management believes that the Company has adhered to the contractual obligations and is of view that there would not be any material impact on the financial results.”
Official Quarterly Documents
Ask AI about this quarter
This summary is AI-generated from Ashoka Buildcon Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.