Ashoka Buildcon Reports Q4 FY26 and FY26 Results; Announces Key LOAs and Order Book Details
Ashoka Buildcon Limited, an integrated EPC, BOT, and HAM player, announced its audited standalone and consolidated financial results for the quarter and full year ended March 31, 2026. The company also announced several major contract wins and operational updates across multiple international and domestic projects.Financial Performance Review
For the fiscal year 2026, the company reported key financial figures, with standalone results highlighting a 63% increase in Profit After Tax year-over-year (Y-o-Y).The standalone financial performance for the quarter and full year ended March 31, 2026, is detailed below:
| Particulars (Rs. Crs.) | Q4 FY26 | Q4 FY25 | Y-o-Y | FY26 | FY25 | Y-o-Y |
|---|---|---|---|---|---|---|
| Total Income | 1,818.6 | 2,012.4 | -10% | 5,952.2 | 7,187.8 | -17% |
| EBITDA | 168.2 | 180.7 | -7% | 636.1 | 673.2 | -6% |
| EBITDA Margin% | 9.2% | 9.0% | 10.7% | 9.4% | ||
| Profit Before Tax* | 75.3 | 78.5 | -4% | 225.5 | 278.8 | -19% |
| Profit After Tax | 48.9 | 59.6 | -18% | 320.4 | 197.2 | 63% |
In terms of balance sheet standing, the company's debt structure reported an outstanding Standalone Debt of Rs. 1,127 Crores. This debt comprises Rs. 70 Crores in Equipment loans, Rs. 757 Crores in Working Capital loans, and Rs. 300 Crores in NCDs. The Consolidated Debt stands at Rs. 2,778 Crores.
Order Book Summary
As of March 31, 2026, the company reported a total order book of Rs. 15,312 Crores. The composition of the order book by segment is as follows:| Segment | Rs. Crs. | %of Order Book |
|---|---|---|
| Road EPC | 7,084 | 46.3% |
| Road HAM | 1,619 | 10.6% |
| Building EPC | 562 | 3.7% |
| Railways | 1,420 | 9.3% |
| PowerT&D | 4,627 | 30.2% |
| Total Order Book | 15,312 | 100.0% |
Major Project Wins and Updates
Ashoka Buildcon secured several key contracts and project milestones both domestically and internationally.In Saudi Arabia, the company’s wholly owned subsidiary in the Kingdom of Saudi Arabia, in a joint venture with BEC Arabia Contracting Co., received a Letter of Award (LOA) from Diriyah Company. This contract is for the main construction works of Diriyah II - Delivery Partner for One Hotel, valued at SAR 717 million. The company's share in the project bid price is Rs. 846.4 crore, with a completion time of 27 months.
Domestically, the company's JV with Aakshya Infra secured an LOA for the construction of the H.L.R.C.C. Bridge (total length 2280 meters) over the River Gandak, along with other major approach bridges in Muzaffarpur district. The accepted bid price for this project is Rs. 474.4 crore, translating to a company share of Rs. 241.9 crore, with execution scheduled over 30 months.
International projects include:
- Liberia: The company received an LOA from the Ministry of Public Works, Liberia, for the upgrading of roads in the Republic of Liberia, valued at $45 million, with a 24-month completion period.
- Angola: Ashoka Buildcon received a Letter of Contract Acceptance for the rehabilitation of Distribution Networks in Angola. The accepted bid cost is USD 72 million, to be executed within 24 months.
- Maharashtra (India): In a consortium with Railtel Corporation of India Limited, the company received a Letter of Intent (LOI) for the Modernization of Offices under the Inspector General of Registration and Controller of Stamps (IGR) in Maharashtra. The expected financial consideration is Rs. 1,136 crores, with a 60-month project timeline.
Corporate and Operational Updates
The company also provided updates on project timelines and corporate finance activities:- HAM SPVs: The indicative date of completion of sale for the remaining 6 HAM SPVs has been extended up to June 30, 2026.
- NH-206 HAM (Karnataka): The company announced receipt of a Commercial Operation Date (CoD) for a 2.68 km stretch of the NH-206 HAM project (Karadi to Banwara). Additionally, a third provisional CoD (8.29 km) was received for the TS section of the same project.
- Rights Issue Allotments: The company was allotted shares through rights issues of its subsidiaries:
* On March 30, 2026, 66,50,000 equity shares (Rs. 6.65 crores) were allotted from Ashoka Infrastructure Ltd.
* On April 29, 2026, 1,45,20,000 equity shares (Rs. 14.52 crores) were allotted from Ashoka Baswantpur Singnodi Road Pvt. Ltd.
Credit Rating Enhancement
The company received an update on its credit rating from Acuite. The ratings for both long-term and short-term debt were reaffirmed, with the ratings being 'ACUITE AA (Stable) (Reaffirmed) -'Removed from Rating Watch' and 'ACUITE A1+ (Reaffirmed) 'Removed from Rating Watch' respectively.ASHOKA Stock Price Movement
On Thursday, Ashoka Buildcon Limited shares edged higher, gaining 1.24% to close at ₹128.44. The stock traded on substantial interest, setting a volume of 826,256 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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