ALFA Finder
The call ran from 1:01 PM to 1:36 PM IST (36 min).
Key takeaways
Consolidated Q2 income fell 15% and posted a ₹118.96 Cr loss. Management cut its FY27 revenue target to flat-to-5% and hedged heavily.
| Management target | Revenue 5.0% FY27 |
|---|
| Revenue growth | Consolidated income down ~15% YoY; standalone roughly flat. |
|---|---|
| Margins | Standalone Q2 EBITDA margin 9.88%; H2 guided 9–9.5%. |
| Order book | ₹15,964 Cr at 30 Sep; ₹17,222 Cr incl. post-quarter orders. |
| Demand visibility | H1 awards up 62.9%; construction down 18%; execution slow. |
| Management confidence | Defensive; guidance cut from 10–15% to ~5% growth. |
Growth
Consolidated income down 15% YoY; standalone PAT ₹37.96 Cr vs ₹139.18 Cr, with the prior base including ₹112 Cr exceptional items.
Outlook
FY27 revenue ~5% (hedged), H2 EBITDA margin 9–9.5%, standalone debt ₹600–700 Cr by March 2027.
Risks
Consolidated loss and 15% income decline; construction down 18% in H1; third-party standalone debt ₹2,781 Cr; FY27 targets already cut.
Last quarter's promises, checked
Delivered
- FY27 EBITDA margin 9–9.5% → Q2 standalone 9.88% (= BEAT)
Partly delivered
- ₹6,000–8,000 Cr order inflow in Q2–Q4 → order book +₹713 Cr in Q2 net (₹15,251→₹15,964 Cr) (= PARTIAL)
Missed
- FY27 revenue growth 10–15% → standalone ~flat, consolidated income -15% (= MISS)
- ₹700 Cr from 4 asset sales by Sept-end → HAM monetisation still pending (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Ashoka Buildcon Q2 FY27 Results: Net Loss of ₹119 Cr
Ashoka Buildcon approved unaudited September 2026 quarter and half-year results. The board also approved a Rs.500 Crore unsecured NCD limit and a postal ballot for subsidiary divestment.
- Key figure
- Net loss ₹119 Cr
What management said last time
Full summary →From the call summary published .
Outlook they gave
Order book stands at ₹15,251 Cr; asset monetization expected to net ₹1,150 Cr by Q4 FY27.
Growth they described
Standalone revenue flat at ₹1,320 Cr; EBITDA margins contracted significantly to 9.5% from higher execution costs.
Call details
| Company | Ashoka Buildcon Limited |
|---|---|
| NSE symbol | ASHOKA |
| ISIN | INE442H01029 |
| Call | Q2 FY27 earnings call |
| Date | Friday, 6 November 2026 |
| Time | 1:00 PM IST |
| Length | 36 min |
| Audio | Our stream on YouTube ↗ |
Ashoka Buildcon Limited: key numbers
- Share price
- ₹114.38
- Market cap
- ₹3,211 Cr
- Revenue (annual)
- ₹7,520 Cr
- Net profit (annual)
- ₹2,550 Cr
- P/E (TTM)
- 1.4×Sector 33.5×
- Promoter holding
- 54.48%+0.00% QoQ
- FII holding
- 4.18%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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