This small-cap infra stock engaged in infrastructure development, including highways, bridges, power projects, city gas distribution, railways, and real estate, in focus after securing an order worth Rs. 312 crore from Maharashtra State Electricity Transmission Company Limited (MSETCL) for establishing a 400/220 KV substation.
Stock Price Movement:
With a market capitalization of Rs. 4,988.45 crores, the share of Ashoka Buildcon Limited has reached an intraday high of Rs. 180 per equity share, rising nearly around 0.59 percent from its previous day’s close price of Rs. 178.95. Since then, the stock has retreated and is currently trading at Rs. 177.60 per equity share.
What Happened:
Ashoka Buildcon Limited has received a Letter of Acceptance from Maharashtra State Electricity Transmission Co. Limited (MSETCL) for a turnkey project worth Rs. 311.92 crore.
The project involves establishing a 400/220 KV substation at Nandgaon Peth, Amravati, along with related transmission lines. The contract includes supply, installation, testing, commissioning, and civil works. It is a domestic contract and must be completed within 18 months, excluding the monsoon period.
Order Book:
As of December 31, 2024, Ashoka Buildcon’s current order book stands at an impressive Rs. 16,457 crore, showcasing its strong presence in the construction industry.
Clientele:
Ashoka Buildcon Limited collaborates with prominent infrastructure and transportation organizations, including the National Highways Authority of India (NHAI), Karnataka State Highway Improvement Project (KSHIP), Tamil Nadu Road Development Company Limited (TNRDC), Ministry of Road Transport and Highways (MoRTH), Public Works Department (PWD), and various state development corporations such as MPRDC.
Company Overview:
Ashoka Buildcon Limited was established in 1976 and is headquartered in Nashik, Maharashtra. The company has become a leading infrastructure developer in India and has constructed 14,000 lane km of highways and implemented power T&D projects for 30,000 villages.
Recent quarter results:
Ashoka Buildcon Limited’s revenue has decreased from Rs. 2,657 crore in Q3 FY24 to Rs. 2,388 crore in Q3 FY25, which has dropped by 10.12 percent. The net profit has also grown by 568.69 percent from Rs. 99 crore in Q3 FY24 to Rs. 662 crore in Q3 FY25.
Written By – Nikhil Naik
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