Ashoka Buildcon Limited reported its audited financial results for the quarter and full year ended 31st March 2026, alongside significant contract wins across international and domestic markets.
For the full financial year FY26, the company’s standalone total income declined 17 percent to Rs 5,952.2 crore from Rs 7,187.8 crore in FY25. Earnings before interest, tax, depreciation and amortisation (EBITDA) fell 6 percent to Rs 636.1 crore, with EBITDA margin improving to 10.7 percent from 9.4 percent. Profit after tax surged 63 percent to Rs 320.4 crore in FY26 from Rs 197.2 crore in FY25.
In the fourth quarter, total income was Rs 1,818.6 crore, down 10 percent year-on-year from Rs 2,012.4 crore. EBITDA declined 7 percent to Rs 168.2 crore. Profit after tax fell 18 percent to Rs 48.9 crore from Rs 59.6 crore in Q4 FY25.
As of 31st March 2026, the company’s order book stood at Rs 15,312 crore (excluding post-period orders). Road EPC projects constituted 46.3 percent of the order book at Rs 7,084 crore, followed by power transmission and distribution at 30.2 percent (Rs 4,627 crore). Railways and road HAM projects comprised 9.3 percent and 10.6 percent respectively.
The company’s wholly owned Saudi Arabian subsidiary, in joint venture with BEC Arabia Contracting Co., secured a letter of award from Diriyah Company for construction works of Diriyah II – One Hotel project valued at SAR 717 million. Ashoka’s 49 percent stake translates to Rs 846.4 crore. The project completion timeline is 27 months.
A joint venture with Aakshya Infra Project (51:49 ownership) received an LOA for the H.L.R.C.C. Bridge over River Gandak in Muzaffarpur district, Bihar on EPC mode for Rs 474.4 crore, with Ashoka’s share at Rs 241.9 crore to be executed in 30 months.
The company received an LOA from Liberia’s Ministry of Public Works for road upgradation projects valued at USD 45 million with a 24-month execution period. Additionally, Ashoka and Railtel Corporation of India received a letter of intent for modernisation of government offices under Maharashtra’s Inspector General of Registration for approximately Rs 1,136 crore over 60 months.
Ashoka received a letter of contract acceptance from Angola’s Ministry of Energy and Water for rehabilitation of distribution networks valued at USD 72 million to be completed within 24 months.
On the domestic front, the company received commercial operation dates for its HAM project in Karnataka. The Tumkur Shivamogga section achieved provisional COD for 8.29 kilometres and operational COD for 2.68 kilometres.
Standalone debt stood at Rs 1,127 crore, comprising equipment loans (Rs 70 crore), working capital loans (Rs 757 crore) and non-convertible debentures (Rs 300 crore). Consolidated debt was Rs 2,778 crore.
Acuite ratings reaffirmed the company’s long-term debt rating as AA (Stable) and short-term rating as A1+, both removed from rating watch status.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).