AI Summary
✦ ClarthaAhluwalia Contracts is an engineering, procurement and construction company serving Indian and international markets. Construction contracts drive revenue across residential, commercial, institutional, hospital, infrastructure, metro and railway projects, while lease rentals and other activities provide supplementary income. The scheduled board meeting to review June-quarter results offers the next catalyst, with improving margins and 31.6% profit growth indicating operating leverage. ROE is 13.8%, but debt/equity of 3.55 means leverage materially amplifies returns and increases balance-sheet risk. Revenue grew 11.4% year-on-year, while margin improvement suggests better project execution and cost absorption. At 20.7 times earnings, valuation appears fair relative to current growth, rather than discounted. The key open question is whether execution across large government, urban infrastructure and building contracts can sustain earnings growth without further leverage.
Valuation Metrics
Trading 10.6% below historical median. Valuation is stable — currently in the strongly undervalued zone (z-score: -0.65). Confidence: 81%.
Live forward EPS implies next-12-month EPS of ₹58.35. Applying the stock's normalized valuation corridor produces a fair range of ₹1,188.01 to ₹1,514.77, with base value near ₹1,350.80 (+62.8% vs current price).
Live forward estimate anchored to the company's historical valuation corridor.
Forward EPS
₹58.35
Forward P/E
14.2x
Base Fair Value
₹1,350.80
Fair Range
₹1,188.01 - ₹1,514.77
Upside To Base
+62.8%
Estimate Source
Live forward EPS
Growth Estimate
-1.6%
5Y Average
19.10
Current
20.70
Overvalued
25.96
Undervalued
20.36
5Y Average
10.13
Current
11.08
Overvalued
13.14
Undervalued
6.33
5Y Average
3.14
Current
2.70
Overvalued
3.61
Undervalued
2.67
Peers & Comparison
Sector: Industrials · Theme: Construction & Engineering
| Company | Rev. Growth | Margin | P/E | vs Avg | 52W Perf. |
|---|---|---|---|---|---|
NCC LIMITED NCCConstruction & Engineering | +1.7% | 3.2% | 13.6x Undervalued | -58% vs avg | -34.9% |
AJAX ENGINEERING LIMITED AJAXENGGConstruction & Engineering | +1.7% | 10.8% | 28.9x Fair | -10% vs avg | -20.9% |
CEIGALL INDIA LIMITED CEIGALLConstruction & Engineering | +37.1% | 7.8% | 18.0x Undervalued | -44% vs avg | +35.9% |
BALU FORGE INDUSTRIES LTD BALUFORGEConstruction & Engineering | -2.3% | 23.4% | 19.3x Undervalued | -40% vs avg | -20.5% |
AFCONS INFRASTRUCTURE LTD AFCONSConstruction & Engineering | -19.1% | 1.3% | 38.5x Premium | +20% vs avg | -35.5% |
G R INFRAPROJECTS LIMITED GRINFRAConstruction & Engineering | +40.1% | 11.0% | 9.5x Undervalued | -70% vs avg | -30.1% |
AXISCADES TECH LTD AXISCADESConstruction & Engineering | +1.5% | 6.2% | 92.7x Premium | +189% vs avg | +29.1% |
CEMINDIA PROJECTS LIMITED CEMPROConstruction & Engineering | +7.0% | 5.9% | 36.2x Fair | +13% vs avg | +57.3% |
AHLUWALIA CONT IND LTD trades at a discount (20.9x vs peer avg 32.1x), suggesting potential undervaluation relative to the Construction & Engineering cohort. Peers include NCC LIMITED, AJAX ENGINEERING LIMITED, CEIGALL INDIA LIMITED — selected based on business model, industry classification, market cap similarity, and business theme alignment.
Financials
Real statement data for revenue, earnings quality, conversion, and balance-sheet coverage. Monetary values are shown in Rs crore.
Latest revenue
₹1.32K CrMar 2026Latest net profit
₹80 CrMar 2026Latest EPS
₹11.96Mar 2026Net margin
9.0%Mar 2026Performance
Bars show revenue and net profit. The line shows net margin.
- Revenue
- Net income
- Net margin %
Earnings
Revenue is shown in crores. EPS is rupees per share.
- Revenue
- EPS
Revenue to profit conversion
Bridge from operating numbers to profit for the latest reported period.
Latest reported period: Mar 2026
Debt level and coverage
Debt, cash and free cash flow compared on the same crore scale.
- Debt
- Free cash flow
- Cash & equivalents
Results
| Metric | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 863 | 764 | 902 | 1,026 | 1,164 | 919 | 1,011 | 952 | 1,216 | 1,005 | 1,177 | 1,061 | 1,322 |
| Expenses + | 753 | 681 | 812 | 915 | 1,059 | 859 | 938 | 868 | 1,092 | 919 | 1,049 | 965 | 1,199 |
| Operating Profit | 110 | 83 | 90 | 112 | 104 | 60 | 73 | 84 | 124 | 86 | 129 | 96 | 124 |
| OPM % | 13% | 11% | 10% | 11% | 9% | 7% | 7% | 9% | 10% | 9% | 11% | 9% | 9% |
| Other Income + | 9 | 7 | 8 | 9 | 207 | 11 | 12 | 15 | 18 | 16 | 15 | 15 | 25 |
| Interest | 11 | 11 | 11 | 12 | 14 | 15 | 16 | 15 | 13 | 12 | 15 | 11 | 12 |
| Depreciation | 10 | 12 | 13 | 14 | 29 | 15 | 17 | 18 | 17 | 21 | 22 | 26 | 29 |
| Profit before tax | 98 | 67 | 74 | 95 | 269 | 41 | 53 | 67 | 112 | 69 | 106 | 74 | 108 |
| Tax % | 26% | 26% | 25% | 26% | 26% | 26% | 27% | 26% | 26% | 26% | 26% | 27% | 26% |
| Net Profit + | 72 | 50 | 55 | 71 | 200 | 31 | 38 | 49 | 83 | 51 | 79 | 54 | 80 |
| EPS in Rs | 10.78 | 7.42 | 8.26 | 10.55 | 29.83 | 4.57 | 5.73 | 7.37 | 12.41 | 7.63 | 11.80 | 8.06 | 11.96 |
| Raw PDF |
All values in ₹ Crores unless otherwise stated. Source: Screener Master (Standalone).
Events Timeline
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Board Meeting Intimation for Intimation For Board Meeting- Notice
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018