ASHOKA BUILDCON LTD.

Trendlyne Stock Report

Roads & Highways Nov 10, 2023 03:31 PM
Cement and Construction

₹139.15 (-1.0% ) 52 Week High Low

70.2
139.2

151
Market Cap: 39.1B Avg Daily Volume: 2.6M
NSE | Nov 10, 2023 03:31 PM

DVM SUMMARY

Strong Performer D V M

These stock companies have strong financials and are affordably priced. They also score high in quality and technical aspects which makes them a favourite amongst investors.

Momentum Score
Durability Score (D) High Financial Strength Valuation Score (V) Affordable Valuation (M) Technically Moderately Bullish

Bad Medium Good Bad Medium Good Bad Medium Good

60 62 65
0 35 55 100 0 30 50 100 0 35 60 100

ANALYST RECOMMENDATION TRENDLYNE CHECKLIST

Consensus Recommendation Target Price

BUY 134 (-3.39%) 65.2% Passed in checklist
Financials 5 3
5 1 2

Total : 8 Ownership 3 1
Strong Buy Buy Hold Sell Strong Sell

Peer Comparison 2 1
Current Price
139.15
Value & Momentum 5 3

Total 15 8
93 134.43 189
Low Estimate Average Estimate High Estimate

The consensus recommendation is based on 8 analyst recommendations. The Consensus Estimate is The Trendlyne Checklist checks if the company meets the key criteria for financial health and
the aggregate analyst estimates for listed Indian companies. consistent growth.

KEY STATISTICS

Ratios Financials
TTM PE Ratio ROE Annual % ROCE Annual % Operating Revenue TTM Cr Revenue Growth Annual YoY Net Profit Annual Cr
%
11.1 21.2 51.8 8494.1 371.4
34.0
Above industry Median Below industry Median Market Runner Up Above industry Median Below industry Median
Below industry Median

EBIT Annual Margin % TTM PEG Ratio Long Term Debt To Equity
Annual Net Profit TTM Growth % Dividend yield 1yr % EPS TTM Growth %
21.8 -0.2
0.4 -56.8 - -56.8
Below industry Median PEG TTM is negative
Below industry Median Negative EPS TTM Growth %
Negative Net Profit TTM Growth %

PRICE VOLUME CHARTS

1 Year Return : 88.5% 5 Year Return : 13.8%

125 125

100 100

75 75

50 50

JAN MAR MAY JUL SEP NOV JAN JUL JAN JUL JAN JUL JAN JUL JAN JUL

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 ASHOKA BUILDCON LTD. Trendlyne Stock Report
Roads & Highways Nov 10, 2023 03:31 PM
Cement and Construction

Durability Summary

Durability Score Ashoka Buildcon Ltd. has a durability score of 60, which indicates High Financial Strength.

60 / 100
A High Durability Score (greater than 55) indicates good and consistent financial performance : stable revenues, cash flows, and low debt.

The Durability score looks at many different metrics, including long-term performance data, to identify stocks that have stood the test of time.

High Financial Strength

Bad Medium Good

60
0 35 55 100

Durability Trend Ashoka Buildcon Ltd. : Nov '22 - Nov '23 Durability v/s Peers

100
Ashoka Buildcon 60.0

75 IRB Infrastructure Developers 65.0

GOOD
G R Infraprojects 75.0
50
PNC Infratech 35.0
MEDIUM

25
Dilip Buildcon 55.0

Bharat Road Network

0
Dec '22 Jan '23 Feb '23 Mar '23 Apr '23 May '23 Jun '23 Jul '23 Aug '23 Sep '23 Oct '23 Nov '23
MEP Infrastructure Developers 15.0

0 10 20 30 40 50 60 70 80

Score Distribution (% of time in each zone) Variability (Range)

Good Medium Bad Maximum Minimum Ashoka Buildcon Ltd. (60) has third-highest Durability score amongst its peers, behind IRB
100.0% 0% 0% 75.0 (10 Feb '23) 55.0 (12 Oct '23) Infrastructure Developers Ltd. (65)

Financial Metrics

Total Revenue Annual Cr Net Profit Annual Cr Tax Annual Cr Revenue Growth Annual YoY %

8,235.122 34.0% YoY Mar'23 371.387 -52.3% YoY Mar'23 215.28 33.9% YoY Mar'23 34.0% 69.7% YoY Mar'23
10k 1000 400 50
8235.1 37.1 34
6147.2 8642.8 778.6 371.4 19.6 20
5152.2 500 276.2 353.2 215.3 25
165.3 170.9 191.6
5k 3652.6 200 165.9 164.2 160.8 2.9 -0.6
0 83.7 0
-33.5
-111.1
0 -500 0 -25
8

3
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Total Revenue Annual Cr growth is higher Net Profit Annual Cr is falling faster than Tax Annual Cr growth is higher than Revenue Growth Annual YoY % is stable
than historical averages. historical averages. historical averages. compared to historical averages.

CAGR 2Y 26.8% CAGR 2Y 15.9% CAGR 2Y 14.5% CAGR 2Y 859.5%

3Y 16.9% 3Y 31.0% 3Y 9.1% 3Y 127.2%
5Y 17.7% 5Y 227.3% 5Y 20.8% 5Y 11.6%

Operating Profit Margin Annual % Net Profit TTM Growth % Operating Revenues Qtr Cr Net Profit Qtr Cr

23.9% -15.3% YoY Mar'23 -52.3% -128.8% YoY Mar'23 2,154.311 19.2% YoY Sep'23 112.293 76.4% YoY Sep'23
40 1000 3k 200
31.2 30.6 2448.4
27.8 30 28.2 2154.3
594.1 1956.2 1935.2 134.6 136.1
23.9 1878.6 1807.7
2k 112.3
500
20 181.9 100
63.7 67.7
67.1 1k
-52.3 37.1
0
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Operating Profit Margin Annual % is falling Net Profit TTM Growth % is growing faster Operating Revenues Qtr Cr growth is higher Net Profit Qtr Cr growth is higher than
faster than historical averages. than historical averages. than historical averages. historical averages.

CAGR 2Y -10.7% CAGR 2Y 11.7% YoY 19.2% YoY 76.4%

3Y -7.9% 3Y 55.5% QoQ 11.3% QoQ 65.8%
5Y -5.2% 5Y 0%

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 ASHOKA BUILDCON LTD. Trendlyne Stock Report
Roads & Highways Nov 10, 2023 03:31 PM
Cement and Construction

Balance Sheet

Total Assets Annual Cr Total ShareHolders Funds Annual Cr Working Capital Annual Cr

17,145.2 10.9% YoY Mar'23 1,754.6 27.1% YoY Mar'23 2,108.6 75.0% YoY Mar'23
20k 2k 4k
15465.4
13101.4 13634 1380.8 1754.6 2108.6
17145.2
2k 1205.2
10k 1k
619.3
414.3 0 -916.2
315.9 286.9 -1030.3
-486.1
-880.2
0 0 -2k
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Total Assets Annual Cr growth is higher than Total ShareHolders Funds Annual Cr growth Working Capital Annual Cr growth is stable
historical averages. is stable compared to historical averages. compared to historical averages.

CAGR 2Y 9.75% CAGR 2Y 68.32% CAGR 2Y 308.28%

3Y 7.94% 3Y 61.79% 3Y 226.96%
5Y 8.22% 5Y 40.9% 5Y 219.09%

Cashflow

Cash from Operating Activity Annual Cr Cash from Investing Activity Annual Cr Cash from Financing Annual Activity Cr Net Cash Flow Annual Cr

492.2 39.5% YoY Mar'23 -310.7 -33.6% YoY Mar'23 -311.2 -789.1% YoY Mar'23 -129.6 -252.2% YoY Mar'23
2k 0 500 500
245.5
1015 1069.7 310.5 381.4
1k 0 85.2
352.8 492.2 -117.2
155.3 -200 -35 0
-177.9 -173.5 -176.1 -220.9
0 -500 -311.2 -24.1
-232.6 -129.6
-161.1 -591.6 -571.1 -241.7
-310.7
-1k -400 -1000 -500
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Cash from Operating Activity Annual Cr Cash from Investing Activity Annual Cr is Cash from Financing Annual Activity Cr is Net Cash Flow Annual Cr is falling faster than
growth is higher than historical averages. falling faster than historical averages. falling faster than historical averages. historical averages.

CAGR 2Y 78.04% CAGR 2Y -32.82% CAGR 2Y -18.7% CAGR 2Y 26.76%

3Y -22.8% 3Y -38.4% 3Y 18.32% 3Y 30.21%
5Y -13.48% 5Y -11.8% 5Y 12.06% 5Y 11.99%

Financial Ratios

ROE Annual % ROCE Annual % RoA Annual % Current Ratio Annual

21.2% -62.5% YoY Mar'23 51.8% 71.9% YoY Mar'23 2.2% -57.1% YoY Mar'23 1.2 3.1% YoY Mar'23
100 75 10 2
56.4 51.8 5
39.9 44.6
50 50 5
21.2 1.9 2.2 1.1 1.2
30.1 1.2
-0.3 1 0.9
0 -11.7 25 0 -1 0.7 0.8 0.8
10.8 13.8 14.9 14.1
-35.2

-50 0 -5
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Mar'18 Mar'19 Mar'20 Mar'21 Mar'22 Mar'23

M

ROE Annual % is falling faster than historical ROCE Annual % is growing faster than RoA Annual % is falling faster than historical Current Ratio Annual growth is stable
averages. historical averages. averages. compared to historical averages.

CAGR 2Y -31.12% CAGR 2Y 91.38% CAGR 2Y 5.52% CAGR 2Y 13.86%

3Y -19.06% 3Y 51.51% 3Y 21.31% 3Y 14.31%
5Y 190.33% 5Y 36.7% 5Y 217.61% 5Y 9.58%

Net Profit Margin Annual % Interest Coverage Ratio Annual EBIT Annual Margin %

4.6% -64.2% YoY Mar'23 1.9 -1.3% YoY Mar'23 21.8% -19.1% YoY Mar'23
20 3 40
12.8
26.8 27.8 26.9
25 24.6
10 1.9 1.9 21.8
5.1 4.6 2
2.9 20
1.4
-0.8 1.2 1.3
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Mar'18 Mar'19 Mar'20 Mar'21 Mar'22 Mar'23

M

Net Profit Margin Annual % is falling faster Interest Coverage Ratio Annual is falling EBIT Annual Margin % is falling faster than
than historical averages. faster than historical averages. historical averages.

CAGR 2Y -5.42% CAGR 2Y 15.3% CAGR 2Y -11.61%

3Y 16.06% 3Y 13.54% 3Y -6.68%
5Y 198.54% 5Y 16.05% 5Y -2.73%

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 ASHOKA BUILDCON LTD. Trendlyne Stock Report
Roads & Highways Nov 10, 2023 03:31 PM
Cement and Construction

Key Metrics - Peer Comparison

COMPARISON ASHOKA BUILDCON IRB INFRASTRUCTURE G R INFRAPROJECTS PNC INFRATECH DILIP BUILDCON BHARAT ROAD MEP INFRASTRUCTURE
LTD. DEVELOPERS LTD. LTD. LTD. LTD. NETWORK LTD. DEVELOPERS LTD.
(1) (2) (3) (4) (5) (6) (7)

Valuation Score 62.2 40.7 56.2 46.2 63.8 16.3 18.7

P/E Ratio TTM 11.1 42.1 8.6 13.2 43.1 -5.3 -1.8

Forward P/E Ratio 15.4 26.8 13.3 12.1 15.2 - -

PEG Ratio TTM -0.2 -1.5 1.3 -1.0 0.2 -0.1 0.0

Forward PEG Ratio -0.7 2.9 -2.5 1.3 0.3 - -

Price to Book Value 2.0 1.6 1.7 1.9 1.3 0.5 0.8

Price to Sales TTM 0.5 3.2 1.2 1.0 0.5 41.7 4.4

Price to Sales Annual 0.3 2.4 1.0 0.9 0.2 8.3 3.6

EV to EBITDA 1.7 8.4 5.5 7.7 8.5 -12.0 -5.7

Market Cap to Sales 0.3 2.4 1.0 0.9 0.2 8.3 3.6

Price to Free Cash Flow -129.6 253.3 -392.7 -106.1 -226.0 0.3 -1.2

Graham Number 141.1 20.3 1367.6 300.0 227.3 - -

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 ASHOKA BUILDCON LTD. Trendlyne Stock Report
Roads & Highways Nov 10, 2023 03:31 PM
Cement and Construction

Valuation Summary

Valuation Score Ashoka Buildcon Ltd. has a valuation score of 62, which indicates an Affordable Valuation.

62 / 100
A High Valuation Score (greater than 50) indicates the stock is competitively priced at current P/E, P/BV and share price.

The Valuation helps you identify stocks which are still bargains, and whose strengths are not fully priced into the share price.

Affordable Valuation

Bad Medium Good

62
0 30 50 100

Valuation Trend Ashoka Buildcon Ltd. : Nov '22 - Nov '23 Valuation v/s Peers

100
Ashoka Buildcon 62.2

75 IRB Infrastructure Developers 40.7

GOOD G R Infraprojects 56.2

50

PNC Infratech 46.2

MEDIUM
25
Dilip Buildcon 63.8

0 Bharat Road Network 16.3

2

23

23

23

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MEP Infrastructure Developers 18.7

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0 10 20 30 40 50 60 70

Score Distribution (% of time in each zone) Variability (Range)

Good Medium Bad Maximum Minimum Ashoka Buildcon Ltd. (62) has second-highest Valuation score amongst its peers, behind Dilip
100.0% 0% 0% 83.8 (17 Nov '22) 59.2 (19 Oct '23) Buildcon Ltd. (64)

P/E Buy Sell Zone

Ashoka Buildcon Ltd. has spent 46.6% of the time below the current P/E 11.1. This puts it in the PE
Neutral Zone

Neutral Zone 46.6% into P/E buy sell zone This is based on the tendency of the P/E value to revert to its historical mean.

If the P/E value has spent most of its time below the current value, then it means that most gains
have probably been realised already, and it is time to sell.
Strong upside potential % time spent below current P/E Gains already realized If the P/E value has spent very little time below the current value, then it means that there is strong
potential upside, and it is time to buy.

Valuation Metrics

PE TTM Price to Earnings Price To Sales Annual Graham Number

11.1 198.3% YoY Nov'23 0.3 -36.7% YoY Nov'23 141.1 -11.8% YoY Nov'23
75 1 200
56.5 160
0.7 141.1
128.4
50 0.6
0.5 0.4 100
64.5
25 0.2 0.3
10.6 11.1
3.5 3.7 15.4
0 0 0
Mar'20 Mar'21 Mar'22 Mar'23 Nov'23 Mar'20 Mar'21 Mar'22 Mar'23 Nov'23 Mar'20 Mar'21 Mar'22 Mar'23 Nov'23

PE_TTM growth is higher than historical Price To Sales Annual is falling faster than Graham Number is falling faster than
averages. historical averages. historical averages.

CAGR 2Y -26.4% CAGR 2Y -33.1% CAGR 2Y 33.7%

3Y -7.3% 3Y 3.9% 3Y 42.0%
5Y - 5Y -27.5% 5Y -

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 ASHOKA BUILDCON LTD. Trendlyne Stock Report
Roads & Highways Nov 10, 2023 03:31 PM
Cement and Construction

Momentum Summary

Momentum Score Ashoka Buildcon Ltd. has a Momentum score of 65, which indicates that it is Technically Moderately Bullish.

65 / 100
A High Momentum Score indicates the stock is seeing buyer demand, and is bullish across its technicals compared to the rest of the stock
universe.

Momentum is a very effective short term score, while Durability and Valuation help assess the stock’s health over the long term.
Technically Moderately Bullish

Bad Medium Good

65
0 35 60 100

Momentum Trend Ashoka Buildcon Ltd. : Nov '22 - Nov '23 Momentum v/s Peers 09 Nov '23

100
Ashoka Buildcon 65.3

75 IRB Infrastructure Developers 70.4

GOOD
G R Infraprojects 51.3
50

MEDIUM PNC Infratech 45.1

25
Dilip Buildcon 74.3

0 Bharat Road Network 60.6

2

23

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MEP Infrastructure Developers 47.3

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0 10 20 30 40 50 60 70 80

Score Distribution (% of time in each zone) Variability (Range)

Good Medium Bad Maximum Minimum Ashoka Buildcon Ltd. (65) has third-highest Momentum score amongst its peers, behind IRB
31.0% 67.7% 1.2% 72.8 (29 Sep '23) 34.3 (31 Mar '23) Infrastructure Developers Ltd. (70)

Price Change Analysis Key Momentum Metrics

LTP : 139.15 RSI MFI

1 Day 136.75 143.6

61.6 51.9
1 Week 134.15 145.7
RSI is 61.6, RSI below 30 is considered oversold MFI is 51.9, MFI below 30 is considered
and above 70 overbought oversold and above 70 overbought
1 Month 120.75 150.95

3 Months 88.95 150.95

MACD MACD Signal Line
6 Months 74.65 150.95
4.5 4.6
1 Year 70.15 150.95
MACD is above its Center Line, but below MACD is above its Center Line, but below
3 Year 63.9 150.95 signal line. signal line.

5 Year 37.05 155

ATR
20 40 60 80 100 120 140 160 180

6.6
ATR is below industry Median

Simple Moving Averages Exponential Moving Averages

Ashoka Buildcon Ltd. is trading above 8 out of 8 SMAs. Ashoka Buildcon Ltd. is trading above 8 out of 8 EMAs.

BULLISH BULLISH

8/8 8/8

Bullish v/s Bearish SMAs Bullish v/s Bearish SMAs

(if the current price is above a moving average, it is considered bullish) (if the current price is above a moving average, it is considered bullish)

5Day SMA Rs 138.9 50Day SMA Rs 121.8 5Day EMA Rs 138.4 26Day EMA Rs 131.3

10Day SMA Rs 135.1 100Day SMA Rs 107.2 10Day EMA Rs 136.4 50Day EMA Rs 123.6

20Day SMA Rs 134.9 150Day SMA Rs 98.9 12Day EMA Rs 135.8 100Day EMA Rs 112.1

30Day SMA Rs 131.8 200Day SMA Rs 93.7 20Day EMA Rs 133.3 200Day EMA Rs 100.9

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 ASHOKA BUILDCON LTD. Trendlyne Stock Report
Roads & Highways Nov 10, 2023 03:31 PM
Cement and Construction

Momentum Oscillators Pivot Support & Resistances

Ashoka Buildcon Ltd. is trading above 6 out of 9 Oscillators in bullish zone. Ashoka Buildcon Ltd. at 139.15 is trading below it's Pivot 139.83.

BEARISH NEUTRAL BULLISH 150 R3 - 149.8

1/9 2/9 6/9 R2 - 146.7

145

Bullish v/s Bearish Oscillators R1 - 142.9

(if an oscillator is in its negative range, it is considered bearish)
140LTP - 139.2 PIVOT - 139.8

RSI(14) 61.5 MACD(12, 26, 9) 4.5

S1 - 136.1
135
Stochastic Oscillator 68.0 Stochastic RSI 66.3
S2 - 133.0
CCI 20 70.4 William -26.3
130
S3 - 129.2
Awesome Oscillator 10.5 Ultimate Oscillator 46.4

Momentum Oscillator 9.3

125

Neutral Bullish Bearish

Volatility Metrics

Beta
1 month 3 month 1 year 3 year ADX Day Bollinger Bands Mid_20_2

2.49 2.09 0.99 1.16 27.3 134.9

ADX is below industry Median Bollinger Bands Mid_20_2 is above industry
Median
beta value for 3 month indicates price tends to be more volatile than the market

Daily Volume Analysis Active Candlesticks

Daily average delivery volume over the past week is 39.4%

Bullish Candlestick Pattern Bearish Candlestick Patterns
10 Nov, 2023 984.7K 2.6M
No active candlesticks No active candlesticks
Week 1.1M 2.9M

Month 1.2M 3.3M

0 500k 1 000k 1 500k 2 000k 2 500k 3 000k 3 50…

Combined Delivery Volume NSE + BSE Traded Volume

Daily Avg. Delivery Volume %

10 Nov, 2023 Week Month

38.2% 39.4% 35.7%

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 ASHOKA BUILDCON LTD. Trendlyne Stock Report
Roads & Highways Nov 10, 2023 03:31 PM
Cement and Construction

Checklist Summary

Trendlyne Checklist Score

65.2% pass 15 | 8
=
Financial
5|3
+
Value & Momentum
5|3
+
Ownership
3|1
+
Peer Comparison
2|1

Financial Value & Momentum

5 criteria met | 3 not met 5 criteria met | 3 not met

Company has seen consistent profit growth in the last eight The stock is in the Buy Zone according to its historical P/E?
quarters? No
No The stock is in the Buy Zone according to its historical P/E
Stock has seen consistent profit growth in the last eight quarters

The stock is in the Buy Zone according to its historical P/BV?

Company has seen consistent sales growth in the last eight quarters? No
Yes The stock is in the Buy Zone according to its historical P/BV
Stock has seen consistent sales growth in the last eight quarters

Company's valuation score signals overall affordability?

Company has high Trendlyne Durability Score? Yes
Yes Company's valuation score signals overall affordability
Stock has high Trendlyne Durability Score (>=60)

Trendlyne Momentum Score shows bullishness?

Company has high Piotroski Score? Yes
Yes Trendlyne Momentum Score shows bullishness
Stock has high Piotroski Score (>= 7)

Stock is trading above all short term SMAs?

Company has Low Debt? Yes
No Stock is trading above all short term SMAs
Stock has Low Debt

Stock is trading above all long term SMAs?

Shareholder Value: Company has Strong ROE? Yes
Yes Stock is trading above all long term SMAs
Shareholder Value: Stock has Strong ROE

Stock has bullish candlesticks?

Company has Positive Net Cash Flow? Yes
No Stock has bullish candlesticks OR Stock has no bearish candlesticks
Stock has Positive Net Cash Flow

Stock has active positive breakouts?

Company is generating increasing cash from operations? No
Yes Stock has active positive breakouts
Positive CFO for last 2 years

Ownership Peer Comparison

3 criteria met | 1 not met 2 criteria met | 1 not met

FII/FPI or DIIs are buying the stock? Company is giving better long term returns than the industry?
Yes
Institutions have been increasing stake in the company over the past Yes Company is giving better long term returns than the industry
four quarters

Company's sales growth is better than the industry median?

Promoters are buying the stock or ownership is stable? Yes
Yes Company's sales growth is better than the industry median
Promoters are buying the stock or ownership is stable

Company's profit growth is better than the industry median?

Promoter pledge is low and not increasing? No
Yes Company's profit growth is better than the industry median
Promoter pledge is low and not increasing

Insider have not sold stock in the past 3 months?

No
Insider have not sold stock in the past 3 months

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 ASHOKA BUILDCON LTD. Trendlyne Stock Report
Roads & Highways Nov 10, 2023 03:31 PM
Cement and Construction

Forecaster

Consensus Recommendation Share Price Target

Consensus Recommendation Share Price Target (Avg)

BUY ₹ 134.43 (-3.4% upside)
200
189.0

175

4 4 4
5 150
8
7
134.4
1 1 1 125

1
3 3 3 100
2 93.0
1 1
2023-06-30 2023-07-30 2023-08-27 2023-09-30 2023-10-29 2023-11-10 75
FY21 FY22 FY23 FY24 FY25
Strong Buy Buy Hold Sell Strong Sell
Future Avg. Estimate High Estimate Low Estimate

The consensus recommendation from 8 analysts for Ashoka Buildcon Ltd. is BUY

Ashoka Buildcon Ltd.'s share price target is below the current price, with a downside of 3.4%

Key Metrics - Average Estimates Actual Revenue Avg. Estimate

EPS Interest expense Net income

30 300 1000
14.6 16.4 209.8 157.4 352.8 330.1 350.5 472.5
12.5 12.4% 44.9% 121.1 32.8% 15.7% 103.4% -91.5%
15.9% -33.4%
11.8 16.4%
20 9.1 200 500
-2.4% 79.5 93.0
-26.7% -7.9%
-2.9% -364.0
10 100 0 15.2%

0 0 -500
FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25

15.9% 12.4% -2.4% -26.7% 44.9% -2.9% -7.9% 16.4% 32.8% -33.4% 15.7% 15.2% 103.4% -91.5% 0%

Surprises Estimate Surprises Estimate Surprises Estimate

EPS is expected to reduce by 21.1% in FY24 Interest expense is expected to grow by 48.9% in FY24 Net income is expected to reduce by 47.8% in FY24
Ashoka Buildcon Ltd.'s EPS was higher than average estimate 2 Ashoka Buildcon Ltd.'s Interest expense was lower than average Ashoka Buildcon Ltd.'s Net income was higher than average
times in past 3 years estimate 2 times in past 3 years estimate 3 times in past 3 years

Depreciation & amortization Cash flow per share Dividend per share

150 3

97.8 1.8 1.4

125 1.4
96.6 88.4 9.6% 1.2 1.2 1.2
16.1% 2 100.0%
-9.7% 75.2
100 71.4 1.8
-1.2%
-2.4%
1 1.2
75

50 0
FY21 FY22 FY23 FY24 FY25 FY23 FY21 FY22 FY23 FY24 FY25

-9.7% -2.4% -1.2% 16.1% 9.6% 0% 0% 0% - 100.0% 0%

Surprises Estimate Surprises Surprises Estimate

Depreciation & amortization is expected to grow by 19.1% in Ashoka Buildcon Ltd.'s Cash flow per share was lower than Ashoka Buildcon Ltd.'s Dividend per share was lower than
FY24 average estimate 1 time in past 1 year average estimate 2 times in past 2 years
Ashoka Buildcon Ltd.'s Depreciation & amortization was lower
than average estimate 3 times in past 3 years

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 ASHOKA BUILDCON LTD. Trendlyne Stock Report
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Cement and Construction

Forecaster Actual Revenue Avg. Estimate

Free cash flow EBIT Revenue

1000 1000 10k

681.5 5988.3 7140.9 8331.4
209.1 29.2% 10.8% 14.3%
42.1 210.1 6.4%
35.1 83.2%
500 167.0% -52.3% -123.5 750 482.2 7.5k
205.1% 378.9 436.3 430.6 4482.7
70.2% 6.7% 4.7% 3815.5 2.4%
14.1% -0.8%
0.1%
0 500 5k

-500 250 2.5k

FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25

167.0% -52.3% 70.2% 205.1% 83.2% 14.1% -0.8% 6.7% 4.7% 29.2% 0.1% 2.4% 6.4% 10.8% 14.3%
Surprises Estimate Surprises Estimate Surprises Estimate

Free cash flow is expected to grow by 195.2% in FY24 EBIT is expected to grow by 5.0% in FY24 Revenue is expected to grow by 12.1% in FY24
Ashoka Buildcon Ltd.'s Free cash flow was higher than average Ashoka Buildcon Ltd.'s EBIT was higher than average estimate 2 Ashoka Buildcon Ltd.'s Revenue was higher than average
estimate 2 times in past 3 years times in past 3 years estimate 3 times in past 3 years

Capital expenditure Cash EPS

200 20
118.3 102.7 103.2 16.4 15.7
-7.3% -6.7% 0.4% 7.6% 20.4%
18
72.5 13.8
-16.1% 2.3%
100 16
58.6
-68.3%
14

0 12
FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23

-68.3% -16.1% -7.3% -6.7% 0.4% 7.6% 20.4% 2.3%

Surprises Estimate Surprises

Capital expenditure is expected to reduce by 6.3% in FY24 Ashoka Buildcon Ltd.'s Cash EPS was higher than average
Ashoka Buildcon Ltd.'s Capital expenditure was lower than estimate 3 times in past 3 years
average estimate 3 times in past 3 years

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 ASHOKA BUILDCON LTD. Trendlyne Stock Report
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Cement and Construction

Shareholding Summary Shareholding Trend

60%
54.5% 54.5% 54.5% 54.5% 54.5%
Promoter 54.5%

DII 20.0% 40%

FII 3.0%
19.1% 19.5% 19.7% 20.0%
18.6%
20%

Public 22.6%
1.9% 2.0% 1.9% 2.4% 3.0%

0%
Others -% Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023

Promoter FII DII

0% 10% 20% 30% 40% 50% 60%

Retail investors (Promoter) form the biggest shareholding segment Promoter , FII , DII , over the Sep 2023 quarter

Mutual Fund Holding and Action

25 Promoters holding remains unchanged at 54.48% in Sep 2023 qtr

20.0 Mutual Funds have increased holdings from 18.64% to 18.82% in Sep 2023 qtr.
20 18.0 18.0 18.0 18.0

Number of MF schemes increased from 20 to 24 in Sep 2023 qtr.

15

FII/FPI have increased holdings from 2.40% to 2.97% in Sep 2023 qtr.
10

5.0
Number of FII/FPI investors decreased from 79 to 76 in Sep 2023 qtr
5 3.0 3.0 3.0 3.0
1.0 1.0 1.0 1.0 Institutional Investors have increased holdings from 21.04% to 22.93% in Sep 2023
0 qtr.
May-2023 Jun-2023 Jul-2023 Aug-2023 Sep-2023

Net Holders Bought some / all Sold some / all

Major Shareholders Ashoka Buildcon Ltd. : Sep '23

Promoters DII

Name Shares % Change % Name Shares % Change %

Shobha Parakh 13.6% - Hdfc Trustee Compan 9.2% -4.4%

y Ltd. A/C Hdfc Balan
Asha Ashok Katariya 7.1% -2.1% ced Advantage Fund

Kotak Mahindra Trust 4.0% -0.5%

ee Co Ltd A/C Kotak
Multicap Fund

Bulk / Block Deals

Date Client Name Deal Type Action Avg Price Qty Exchange

29 Sep'23 GRAVITON RESEARCH CAPITAL LLP Bulk Sell 119 1,812,029 NSE

29 Sep'23 GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 119 1,812,029 NSE

26 Sep'23 GRAVITON RESEARCH CAPITAL LLP Bulk Sell 111 2,408,036 NSE

26 Sep'23 GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 110.9 2,408,036 NSE

08 Oct'21 GRAVITON RESEARCH CAPITAL LLP Bulk Sell 112 1,615,037 NSE

08 Oct'21 GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 112 1,615,037 NSE

13 Mar'20 BAJAJ FINANCE LIMITED Bulk Sell 50.6 1,504,668 NSE

13 Nov'17 SNEHAL MANJEET KHATRI Bulk Sell 213.3 2,442,740 NSE

30 Aug'17 TIGER MGT CORP Bulk Sell 188 1,332,727 NSE

30 Aug'17 HDFC MUTUAL FUND - HDFC GROWTH FUND Bulk Purchase 188 1,332,000 NSE

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 ASHOKA BUILDCON LTD. Trendlyne Stock Report
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Cement and Construction

Insider Trading / SAST

Reporting Date Client Name Client Type Regulation Action Avg Price Qty Mode

26 Sep'23 Nippon Life India Trustee Ltd Other SAST Disposal - 100,000 Market

28 May'21 Nippon Life India Trustee Ltd Other SAST Disposal - 609,610 Market

22 Dec'20 Ashish Ashok Katariya HUF Promoter Group Insider Trading Disposal 99.8 15,000 Market Sale

22 Dec'20 Ashish Ashok Katariya HUF Promoter Group Insider Trading Acquisition 97.2 22,000 Market Purchase

18 Mar'20 Ashish Ashok Katariya HUF Promoter Insider Trading Acquisition 63 109,873 Market

24 Dec'19 Reliance Capital Trustee Co Ltd A/c through v… Other SAST Acquisition - 986,752 Market

06 Mar'19 HDFC Trustee Company Limited A/c - HDFC … Other SAST Acquisition - 10,671,708 Market

29 Sep'18 Ashok Motilal Katariya Revised Promoter Insider Trading Acquisition 98.9 20,137 Market

26 Sep'18 Ashok Motilal Katariya Revised Promoter Insider Trading Acquisition 112.8 29,825 Market

20 Sep'18 Ashok Motilal Katariya Promoter Insider Trading Acquisition 117.2 56,500 Market

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ASHOKA BUILDCON LTD. Trendlyne Stock Report
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Cement and Construction

ABOUT THE COMPANY

Ashoka Buildcon Ltd.

Ashoka Buildcon is presently engaged in the business of construction of infrastructure facilities on Engineering, Procurement and Construction Basis (EPC) and Built, Operate and Transfer (BOT) Basis and Sale of
Ready Mix Concrete. The Company has promoted Special Purpose Vehicles (SPVs) for some of its projects, wherein ‘Toll Collection Rights’ are received in exchange of the Construction Cost. For this, the SPVs
significantly engage the services of the Company for contract related activities due to inherent execution capabilities / expertise and experience of the Company.
website: www.ashokabuildcon.com

MANAGEMENT INFORMATION

Mr. Paresh Mehta Manoj A Kulkarni

Chief Financial Officer Company Secretary,Compliance Officer

- 2023-3-31 - 2023-3-31
Gross Remuneration Year Gross Remuneration Year

DIRECTOR INFORMATION

Satish D Parakh Sanjay Londhe Ashok M Katariya Ashish Ashok Katariya

Managing Director Whole-time Director Executive Chairman Non-Exec & Non-Independent Dir

₹4.90Cr. 2023 ₹4.76Cr. 2023 ₹4.09Cr. 2023 ₹1.23Cr. 2023

Gross Remuneration Year Gross Remuneration Year Gross Remuneration Year Gross Remuneration Year

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 ASHOKA BUILDCON LTD. Trendlyne Stock Report
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Detailed stock report terminology

Trendlyne’s stock report is a comprehensive company analysis report based on its durability, valuation and momentum scores along with the forecaster data, to give you a detailed analysis. The report also
includes Trendlyne’s checklist summary, technical analysis, peer comparison, mutual fund holdings details, insider trading and more.

Durability Score Trendlyne Checklist Score

Durability scores are calculated from 0-100, with zero the worst and 100 the best. Trendlyne Checklist evaluates a stock based on its financial performance, ownership, peer
Durability scores above 55 are considered good(G) and below 35 are considered bad(B). comparison, value and momentum. This helps give an overall performance of the
Scores between 35-55 are considered neutral/Medium/Middle(M). company based on the score.
Stocks with a high durability score (top 20 percentile) are companies that have
consistently and over time, demonstrated good growth and cash flow, stable revenues
and profits, and low debt. PE buy/sell zone
The durability score considers several different metrics and ratios around earnings and
models these over time. Our stocks with high durability scores outperform the index The PE buy/sell zone is calculated based on how many days a stock has traded at its
significantly current PE level. The current PE is compared to the stock’s historical PE performance, to
find out how often (for how many days in the past) the stock has traded at its current PE
value.
Valuation Score If the stock has usually traded above its current PE level (it’s at a higher PE for the
majority of trading days), then the stock is cheaper than usual and in the PE buy zone.
Valuation scores are calculated from 0-100, with zero the worst and 100 the best. If the stock has usually traded below its current PE level (it’s at a lower PE for the
Valuation scores above 50 are considered good(G) and below 30 are considered bad(B). majority of trading days), then the stock is more expensive than usual and in the PE sell
Scores between 30-50 are considered neutral/Medium/Middle(M) zone.
Stocks with a high valuation score (top 20 percentile) are companies whose business and
financial advantages have not yet been priced into their share price. These companies
typically have strong earnings but are currently flying under the radar, and Trendlyne’s Price Volume Charts
valuation score helps shine a spotlight on these companies.
Firms with a low valuation score (bottom 20 percentile) are expensive stocks that have Price volume charts are a type of financial chart that combines two key pieces of
good broker coverage and already have their strengths priced in. They are popular but information about a stock: its price and trading volume. They are commonly used in
pricey. If you are buying them now it would be for a steep price tag: valuation scores help technical analysis to identify trends and patterns in the market.
you identify that. In a price volume chart, the price of the security is plotted on the vertical axis, while the
trading volume is shown on the horizontal axis. Each data point on the chart represents a
single trading day, and the size of the data point may be proportional to the trading
Momentum Score volume.

Scores are calculated from 0-100, with zero being the worst and 100 the best.
Momentum scores above 59 are considered good(G) and below 30 are considered Peer Comparison
bad(B). Scores between 30-59 are considered neutral/Medium/Middle(M)
Momentum score or momentum score identifies the bullish/bearish nature of the stock. Peer comparison in financial analysis is a method of comparing the financial performance
Stocks with a high momentum score (which is calculated daily from over 30 technical and position of one company to its competitors or peers in the same industry or sector.
indicators) are seeing their share price rise, and increase in volumes and sentiment. The purpose of this comparison is to gain insights into how the company is performing
A low and falling momentum score indicates a falling share price. The pace at which this is relative to its competitors and to identify areas where it may be underperforming or
changing is also important for the momentum score. overperforming. In Trendlyne’s stock report, DVM scores are also included in the peer
comparison section.

Analyst recommendation
Technical Analysis
Analyst recommendation of a stock is an assessment made by financial analysts or
brokerage firms about the investment potential of a particular stock. It is usually based Technical analysis is a method of analyzing stocks and other financial instruments that
on a thorough analysis of the company's financial performance, market trends, industry relies on charts and statistical indicators to identify trends and patterns in price and
outlook, and other factors that may impact the stock's value. trading volume.
The analyst recommendation of a stock typically takes the form of a rating or a Key momentum metrics included - relative strength index (RSI), Stochastic RSI, Ultimate
recommendation, such as "buy," "hold," or "sell." The recommendation is usually Oscillator, moving average convergence divergence (MACD), average true range (ATR),
accompanied by a price target, which is the analyst's estimate of the stock's fair value. money flow index (MFI), William, CCI 20 and Awesome Oscillator. Simple and
A low and falling momentum score indicates a falling share price. The pace at which this is exponential moving averages are also included.
changing is also important for the momentum score. To analyse the volatility of the stock, Beta over different periods of time, Average
Directional Movement Index and Bollinger bonds are used. Along with this, active
candlesticks, daily volume analysis is also provided in the rapport.

Disclaimer
© 2023 Giskard Datatech Pvt Ltd
Republication or redistribution of Giskard content, including by framing or similar means, is prohibited without the prior written consent of Giskard. All information in this report is assumed to be
accurate to the best of our ability. Giskard is not liable for any errors or delays in Giskard content, or for any actions taken in reliance on such content. Any forward-looking statements included in the
Giskard content are based on certain assumptions and are subject to a number of risks and uncertainties that could cause actual results to differ materially from current expectations.

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