Ashoka Buildcon reaches a record high: The shares of construction giant Ashoka Buildcon surged up to 9.05 percent on Monday, reaching an all-time high (ATH) of Rs 199.90 per share.
The company experienced a spike in business after securing two orders from Maharashtra State Road Development Corporation Ltd. (MSRDC) valued at Rs 2,150 crore.
“We are pleased to inform you that the Company has emerged as Lowest Bidder for the Two Projects of Maharashtra State Road Development Corporation Ltd,” Ashoka Buildcon stated in an exchange filing.
The first project, worth Rs 794.85 crore, is building a significant bridge over Jaigad Creek between Tawsal and Jaigad on the Revas Reddi coastal route (SH (Special) No. 5) in the Ratnagiri district. With the monsoon included, the project is expected to be finished in 36 months.
The second project, worth Rs 1,357.87 crore, calls for building a sizable bridge across Kundalika Creek on the Revas Reddi coastal highway (SH (Special) No. 5) in the Ratnagiri district, connecting Revdanda and Salav. In a same vein, this project should be completed in 36 months, including Monsoon.
Since its founding in 1993, Ashoka Buildcon has focused on the marketing of ready-mix concrete and the engineering, procurement, and construction (EPC) and built-operate-transfer (BOT) bases of infrastructure projects.
Performance financially
Ashoka Buildcon’s overall income for the March (Q4FY24) quarter was Rs 2,532 crore, compared to Rs 2,068 crore for the same quarter in the previous year (Q4FY23).
The business made Rs 219 crore in earnings before interest, tax, depreciation, and amortisation (Ebitda). As a result, during the same period, the Ebitda margin was 8.6 percent. Ashoka Buildcon’s shares was up 7.04 percent at Rs 196.20 per share at 2:12 PM. In contrast, the S&P BSE Sensex was up 3.24 percent at 76,354.61 points in trading.
The business stated, “BOT division recorded a toll collection of Rs 329 crores in Q4 FY24, which grew by 9.8% Y-o-Y.” The Bombay Stock Exchange (BSE) reports that Ashoka Buildcon’s market capitalization is Rs 5,500.77 crore, with a 52-week low of Rs 78.01 per share.
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Construction, Infrastructure and Mining
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