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Ashoka Buildcon Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹244.82Undervalued by 80.01%vs CMP ₹136.00

P/E (3.7) × ROE (54.8%) × BV (₹150.00) × DY (2.00%)

₹667.52Undervalued by 390.82%vs CMP ₹136.00
MoS: +79.6% (Strong)Confidence: 63/100 (Moderate)Models: 8 Under, 1 Fair
ModelCategoryValueWeightSignal
PE-ROEEarnings₹317.1323%Under (+133.2%)
Graham NumberEarnings₹584.2217%Under (+329.6%)
Earnings PowerEarnings₹132.7911%Fair (-2.4%)
DCFCash Flow₹2,450.8011%Under (+1702.1%)
Net Asset ValueAssets₹150.207%Under (+10.4%)
EV/EBITDAEnterprise₹845.229%Under (+521.5%)
Earnings YieldEarnings₹1,011.307%Under (+643.6%)
ROCE CapitalReturns₹260.607%Under (+91.6%)
Revenue MultipleRevenue₹358.096%Under (+163.3%)
Consensus (9 models)₹667.52100%Undervalued
Key Drivers: EPS CAGR 29.5% lifts DCF — verify sustainability. | Wide model spread (₹133–₹2,451) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 29.5%

*Investments are subject to market risks

Analyst Summary

Ashoka Buildcon Ltd operates in the Construction, Contracting & Engineering segment, NSE: ASHOKA | BSE: 533271, current market price is ₹136.00, market cap is 3,812 Cr.. At a glance, stock P/E is 3.65, ROE is 54.8 %, ROCE is 39.7 %, book value is 150, dividend yield is 0.00 %. The latest intrinsic value estimate is ₹667.52, which is about 390.8% above the current price, so the page currently reads as potentially undervalued rather than fully priced. On operating trend, latest reported sales are about ₹10,037 Cr versus the prior period change of 2.4%, while latest net profit is about ₹1,734 Cr with a prior-period change of 232.8%. The 52-week range shown on this page is 231/101, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisAshoka Buildcon Ltd. is a Public Limited Listed company incorporated on 13/05/1993 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L…

This summary is generated from the stock page data available for Ashoka Buildcon Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

64
Ashoka Buildcon Ltd scores 64/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health72/100 · Strong
ROCE 39.7% ExcellentROE 54.8% ExcellentD/E 9.95 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 54.5% Stable
Earnings Quality50/100 · Moderate
OPM stable around 26% Steady
Quarterly Momentum55/100 · Moderate
Revenue (4Q): -21% YoY DecliningProfit (4Q): +88% YoY Strong
Industry Rank90/100 · Strong
P/E 3.7 vs industry 21.8 Cheaper than peersROCE 39.7% vs industry 14.0% Above peersROE 54.8% vs industry 16.7% Above peers3Y sales CAGR: 19% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: May 4, 2026, 11:51 pm

Market Cap 3,812 Cr.
Current Price 136
Intrinsic Value₹667.52
High / Low 231/101
Stock P/E3.65
Book Value 150
Dividend Yield0.00 %
ROCE39.7 %
ROE54.8 %
Face Value 5.00
PEG Ratio0.12

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Ashoka Buildcon Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Ashoka Buildcon Ltd 3,812 Cr. 136 231/1013.65 1500.00 %39.7 %54.8 % 5.00
Marathon Nextgen Realty Ltd 3,335 Cr. 494 775/36815.6 3260.20 %12.0 %13.2 % 5.00
Mangalam Cement Ltd 2,549 Cr. 921 955/67931.3 3270.16 %9.87 %5.70 % 10.0
Ahluwalia Contracts (India) Ltd 5,883 Cr. 875 1,129/64522.0 2870.07 %18.5 %11.9 % 2.00
IRB Infrastructure Developers Ltd 26,185 Cr. 21.7 27.2/18.532.8 16.90.69 %7.82 %5.91 % 1.00
Industry Average101,012.17 Cr732.3821.81214.440.22%13.97%16.65%5.56

All Competitor Stocks of Ashoka Buildcon Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,9562,4481,9352,1542,6573,0522,4652,4892,3882,6941,8871,8511,827
Expenses 1,4661,8931,4621,6082,0702,4261,8661,5841,7491,9171,2881,2661,392
Operating Profit 490556473546587626599905639777599585435
OPM % 25%23%24%25%22%21%24%36%27%29%32%32%24%
Other Income 41-423841421932940396150-1632,416
Interest 290288319321337334308307313318311318200
Depreciation 888796991036894985840384042
Profit before tax 15213997167189417227540307481300642,609
Tax % 9%132%26%29%48%39%30%14%-116%6%24%-41%19%
Net Profit 138-457211999254158462662452227912,111
EPS in Rs 4.85-1.492.414.003.438.895.3616.2823.3215.407.742.7875.21

Last Updated: February 6, 2026, 4:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 10:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,7952,3202,8252,9733,6014,9305,0704,9925,9998,1009,79810,0378,260
Expenses 1,4131,8471,9072,0372,4623,5373,4953,4554,2106,1327,5647,1175,864
Operating Profit 3824739189351,1401,3931,5751,5361,7891,9692,2352,9202,396
OPM % 21%20%33%31%32%28%31%31%30%24%23%29%29%
Other Income 142924821111793147485643121702,365
Interest 1342728009089941,0211,0439701,0041,1041,3101,2451,147
Depreciation 139152269264291258300276338341367290159
Profit before tax 12478-126-155-351313264389325888701,5553,454
Tax % 56%102%77%45%239%131%51%38%17%50%40%-12%
Net Profit 55-1-224-225-119-401602737712945211,7342,881
EPS in Rs 4.113.42-3.04-7.31-3.96-1.195.899.8427.7310.4217.9260.35101.13
Dividend Payout % 24%27%-33%-15%-13%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-101.82%-22300.00%-0.45%47.11%66.39%500.00%70.62%182.42%-61.87%77.21%232.82%
Change in YoY Net Profit Growth (%)0.00%-22198.18%22299.55%47.56%19.28%433.61%-429.38%111.79%-244.29%139.08%155.61%

Ashoka Buildcon Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:16%
5 Years:15%
3 Years:19%
TTM:-8%
Compounded Profit Growth
10 Years:35%
5 Years:60%
3 Years:50%
TTM:223%
Stock Price CAGR
10 Years:5%
5 Years:22%
3 Years:30%
1 Year:-20%
Return on Equity
10 Years:25%
5 Years:40%
3 Years:38%
Last Year:55%

Last Updated: September 4, 2025, 11:50 pm

Balance Sheet

Last Updated: December 4, 2025, 12:59 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 7979949494140140140140140140140140
Reserves 1,1841,2781,6213762221472744791,2401,5352,0803,7754,070
Borrowings 3,1933,8734,6924,7545,1026,0446,2626,7193,6355,5095,4501,9881,989
Other Liabilities 9,0639,4374,5715,5806,1326,7706,9586,87910,3899,86011,33814,67012,990
Total Liabilities 13,51814,66710,97710,80411,55013,10113,63414,21715,40517,04519,00920,57319,189
Fixed Assets 4,02512,5718,5158,0167,8757,8747,6937,4881,3096,9276,6891,1241,151
CWIP 7,9621512037465877627362395346
Investments 285240228186247284186214657311222183
Other Assets 1,2461,7052,2152,5653,3814,8855,6786,45413,9599,98212,16919,17517,909
Total Assets 13,51814,66710,97710,80411,55013,10113,63414,21715,40517,04519,00920,57319,189

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 386390251827621-901,0701553534927491,673
Cash from Investing Activity + -922-812-104-63-315-244-117-176-233-311258-626
Cash from Financing Activity + 57936925-866-98311-571-221-35-311-407-1,052
Net Cash Flow 43-53172-101208-24381-24285-130600-4
Free Cash Flow -694-497142696462-300966732163176061,573
CFO/OP 119%101%39%98%65%7%81%20%30%34%44%68%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow379.00470.00914.00931.00-4.00-5.00-5.00-5.00-2.00-4.00-3.001.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 275767447078676646413944
Inventory Days 443220184103137123108777167
Days Payable 223351285229232206206146160157
Cash Conversion Cycle 2757287-87-31-48-28-17-52-28-49-46
Working Capital Days -30-20-11-113-120-94-129-8335-48-543
ROCE %6%7%11%12%18%20%20%20%25%28%27%40%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 54.48%54.48%54.48%54.48%54.47%54.47%54.47%54.47%54.47%54.47%54.47%54.47%
FIIs 1.90%2.40%2.97%4.51%7.23%7.63%7.95%8.52%7.48%7.29%7.45%7.46%
DIIs 19.67%18.64%19.96%19.72%17.63%19.32%17.79%15.46%14.93%14.16%14.06%14.45%
Public 23.93%24.48%22.60%21.28%20.66%18.57%19.80%21.55%23.12%24.07%24.02%23.62%
No. of Shareholders 1,39,8441,37,9541,34,3651,28,0211,53,5881,54,0291,59,5701,73,2391,91,0681,98,9521,99,2561,95,012

Shareholding Pattern Chart

No. of Shareholders

Ashoka Buildcon Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Balanced Advantage Fund 14,834,080 0.21 220.98N/AN/AN/A
Kotak Multicap Fund 10,274,969 0.67 153.079,774,9692025-12-08 06:34:435.12%
SBI Infrastructure Fund 4,273,550 1.4 63.664,500,0002025-12-07 04:11:33-5.03%
SBI Multi Asset Allocation Fund 3,080,630 0.3 46.712,500,0002025-12-08 06:03:0423.23%
Kotak Multi Asset Allocation Fund 2,502,201 0.31 37.28777,5262025-12-07 09:54:27221.82%
Kotak Infrastructure & Economic Reform Fund 2,430,000 1.61 36.2N/AN/AN/A
HDFC Infrastructure Fund 1,138,294 0.72 16.961,333,3502026-01-26 02:28:22-14.63%
HDFC Housing Opportunities Fund 861,998 1.03 12.84911,9982026-02-22 03:42:46-5.48%
UTI Infrastructure Fund 606,348 0.43 9.03N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 5.005.005.005.005.00
Basic EPS (Rs.) 60.3517.9213.2327.739.84
Diluted EPS (Rs.) 60.3517.9213.2327.739.84
Cash EPS (Rs.) 72.0432.2825.3739.1418.95
Book Value[Excl.RevalReserv]/Share (Rs.) 139.4779.0970.3556.9929.58
Book Value[Incl.RevalReserv]/Share (Rs.) 139.4779.0970.3556.9929.58
Revenue From Operations / Share (Rs.) 357.53349.04288.56211.80177.82
PBDIT / Share (Rs.) 110.0387.5774.9369.0159.34
PBIT / Share (Rs.) 99.7174.5162.7856.9649.51
PBT / Share (Rs.) 55.3531.6420.8932.8214.97
Net Profit / Share (Rs.) 61.7219.2213.2227.099.12
NP After MI And SOA / Share (Rs.) 60.3517.9213.2327.739.84
PBDIT Margin (%) 30.7725.0825.9632.5833.36
PBIT Margin (%) 27.8821.3421.7526.8927.84
PBT Margin (%) 15.489.067.2415.498.41
Net Profit Margin (%) 17.265.504.5812.795.12
NP After MI And SOA Margin (%) 16.875.134.5813.095.53
Return on Networth / Equity (%) 43.2622.6521.1656.3844.60
Return on Capital Employeed (%) 50.4321.8051.7930.1314.14
Return On Assets (%) 8.152.632.165.031.94
Long Term Debt / Equity (X) 0.171.680.432.139.49
Total Debt / Equity (X) 0.482.421.092.629.95
Asset Turnover Ratio (%) 0.500.540.490.460.39
Current Ratio (X) 1.191.201.151.120.88
Quick Ratio (X) 1.151.131.111.070.79
Inventory Turnover Ratio (X) 16.220.000.000.000.00
Interest Coverage Ratio (X) 2.481.881.911.931.72
Interest Coverage Ratio (Post Tax) (X) 2.391.331.401.431.26
Enterprise Value (Cr.) 7228.229228.393676.485520.308599.22
EV / Net Operating Revenue (X) 0.720.940.450.921.72
EV / EBITDA (X) 2.343.751.752.855.16
MarketCap / Net Operating Revenue (X) 0.530.440.250.400.57
Price / BV (X) 1.381.981.181.744.61
Price / Net Operating Revenue (X) 0.530.440.250.400.57
EarningsYield 0.310.110.170.320.09

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Ashoka Buildcon Ltd. is a Public Limited Listed company incorporated on 13/05/1993 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L45200MH1993PLC071970 and registration number is 071970. Currently Company is involved in the business activities of Construction and maintenance of motorways, streets, roads, other vehicular and pedestrian ways, highways, bridges, tunnels and subways. Company's Total Operating Revenue is Rs. 7061.43 Cr. and Equity Capital is Rs. 140.36 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Construction, Contracting & EngineeringS. No. 861, Ashoka House, Nasik Maharashtra 422011Contact not found
Management
NamePosition Held
Mr. Ashok KatariyaExecutive Chairman
Mr. Satish ParakhManaging Director
Mr. Sanjay LondheWhole Time Director
Mr. Ashish KatariaWhole Time Director
Mr. Mahendra MehtaIndependent Director
Ms. Shilpa HiranIndependent Director
Mr. Mario NazarethIndependent Director
Mr. Nikhilesh PanchalIndependent Director

FAQ

What is the intrinsic value of Ashoka Buildcon Ltd and is it undervalued?

As of 06 May 2026, Ashoka Buildcon Ltd's intrinsic value is ₹667.52, which is 390.82% higher than the current market price of ₹136.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (54.8 %), book value (₹150), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Ashoka Buildcon Ltd?

Ashoka Buildcon Ltd is trading at ₹136.00 as of 06 May 2026, with a FY2026-2027 high of ₹231 and low of ₹101. The stock is currently in the middle of its 52-week range. Market cap stands at ₹3,812 Cr..

How does Ashoka Buildcon Ltd's P/E ratio compare to its industry?

Ashoka Buildcon Ltd has a P/E ratio of 3.65, which is below the industry average of 21.81. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Ashoka Buildcon Ltd financially healthy?

Key indicators for Ashoka Buildcon Ltd: ROCE of 39.7 % indicates efficient capital utilization; ROE of 54.8 % shows strong shareholder returns. Dividend yield is 0.00 %.

Is Ashoka Buildcon Ltd profitable and how is the profit trend?

Ashoka Buildcon Ltd reported a net profit of ₹1,734 Cr in Mar 2025 on revenue of ₹10,037 Cr. Compared to ₹771 Cr in Mar 2022, the net profit shows an improving trend.

Does Ashoka Buildcon Ltd pay dividends?

Ashoka Buildcon Ltd has a dividend yield of 0.00 % at the current price of ₹136.00. The company is currently not paying meaningful dividends.

Last Updated: May 4, 2026, 11:51 pm
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 533271 | NSE: ASHOKA
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Ashoka Buildcon Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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