AI Summary
✦ ClarthaAshoka Buildcon is an Indian infrastructure construction company serving highways, bridges, power, buildings, solar, water, airports, and railways. Construction and contract activities drive revenue, alongside BOT/annuity projects and sales of ready-mix concrete and real estate. Recent Q1 results and the scheduled earnings call may clarify whether project execution can reverse a 25.1% revenue decline. Profit rose 50.5%, but declining margins weaken earnings quality despite a 48.0% ROE. Extreme debt-to-equity leverage of 24.46 likely amplifies ROE and increases refinancing and execution risks. At 4.7x earnings, the stock appears undervalued against its earnings growth, but the valuation discount reflects leverage, falling revenue, and unresolved margin pressure.
Valuation Metrics
Trading 33.4% below historical median. Valuation is declining — currently in the strongly undervalued zone (z-score: -1.3). Confidence: 73%.
Live forward EPS implies next-12-month EPS of ₹14.85. Applying the stock's normalized valuation corridor produces a fair range of ₹81.38 to ₹123.40, with base value near ₹103.95 (-11.9% vs current price).
Live forward estimate anchored to the company's historical valuation corridor.
Forward EPS
₹14.85
Forward P/E
7.9x
Base Fair Value
₹103.95
Fair Range
₹81.38 - ₹123.40
Upside To Base
-11.9%
Estimate Source
Live forward EPS
Growth Estimate
-66.9%
5Y Average
5.64
Current
4.66
Overvalued
8.31
Undervalued
5.48
5Y Average
2.73
Current
2.25
Overvalued
3.52
Undervalued
1.70
5Y Average
1.02
Current
0.50
Overvalued
1.17
Undervalued
0.87
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 | -55% vs avg | -34.9% |
AXISCADES TECH LTD AXISCADESConstruction & Engineering | +1.5% | 6.2% | 92.7x Premium | +207% vs avg | +29.1% |
AJAX ENGINEERING LIMITED AJAXENGGConstruction & Engineering | +1.7% | 10.8% | 28.9x Fair | -4% vs avg | -20.9% |
CEIGALL INDIA LIMITED CEIGALLConstruction & Engineering | +37.1% | 7.8% | 18.0x Undervalued | -40% vs avg | +35.9% |
AHLUWALIA CONT IND LTD AHLUCONTConstruction & Engineering | +8.8% | 5.8% | 20.9x Undervalued | -31% vs avg | -13.8% |
BALU FORGE INDUSTRIES LTD BALUFORGEConstruction & Engineering | -2.3% | 23.4% | 19.3x Undervalued | -36% vs avg | -20.5% |
G R INFRAPROJECTS LIMITED GRINFRAConstruction & Engineering | +40.1% | 11.0% | 9.5x Undervalued | -69% vs avg | -30.1% |
AFCONS INFRASTRUCTURE LTD AFCONSConstruction & Engineering | -19.1% | 1.3% | 38.5x Premium | +27% vs avg | -35.5% |
ASHOKA BUILDCON LTD trades at a discount (4.7x vs peer avg 30.2x), suggesting potential undervaluation relative to the Construction & Engineering cohort. Peers include NCC LIMITED, AXISCADES TECH LTD, AJAX ENGINEERING 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
₹1.77K CrMar 2026Latest net profit
₹49 CrMar 2026Latest EPS
₹1.74Mar 2026Net margin
7.0%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 + | 2,044 | 1,532 | 1,561 | 2,134 | 2,500 | 1,877 | 1,418 | 1,792 | 1,975 | 1,311 | 1,266 | 1,463 | 1,772 |
| Expenses + | 1,893 | 1,462 | 1,417 | 1,957 | 2,314 | 1,756 | 1,299 | 1,629 | 1,832 | 1,188 | 1,143 | 1,334 | 1,650 |
| Operating Profit | 150 | 70 | 144 | 177 | 186 | 121 | 119 | 163 | 143 | 122 | 123 | 129 | 121 |
| OPM % | 7% | 4.6% | 9% | 8% | 7% | 6% | 8% | 9% | 7% | 9% | 10% | 9% | 7% |
| Other Income + | 374 | 25 | 28 | 28 | 250 | 24 | 41 | 24 | 38 | 29 | 149 | 82 | 47 |
| Interest | 46 | 51 | 53 | 62 | 62 | 66 | 71 | 83 | 77 | 84 | 78 | 82 | 68 |
| Depreciation | 19 | 22 | 25 | 28 | 30 | 22 | 25 | 25 | 26 | 23 | 24 | 25 | 25 |
| Profit before tax | 458 | 22 | 95 | 115 | 343 | 57 | 65 | 79 | 79 | 43 | 169 | 102 | 75 |
| Tax % | 5% | 25% | 25% | 25% | 22% | 28% | 44% | 23% | 24% | 29% | 18% | 1% | 35% |
| Net Profit + | 435 | 16 | 71 | 87 | 268 | 41 | 36 | 61 | 60 | 31 | 139 | 102 | 49 |
| EPS in Rs | 15.49 | 0.59 | 2.54 | 3.09 | 9.56 | 1.45 | 1.29 | 2.16 | 2.12 | 1.09 | 4.96 | 3.63 | 1.74 |
| 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 Notice Of Board Meeting - Regulations 29, 33 & 50(1) Of The SEBI (LODR) Regulations, 2015 [SEBI (LODR) Regulations, 2015]
Intimation Regarding Extension Of Expected Date Of Completion Of Sale/Disposal Of Stake In Subsidiaries Of The Company And Ashoka Concessions Limited (ACL)