The company posted robust growth in its Q4 revenue from operations registering a growth of 12% yoy at Rs1,560 crore, with a sequential growth of 41%. The company’s PAT clocked a growth of 26% yoy on the back of higher income and tax write back. While EBITDA was reported at Rs160 crore, registering a decline of 22% yoy. Sequentially, it jumped 30% and missed the estimates.
The company has a strong balance sheet and is ready to turn better on account of recently proposed arrangements to monetize five BOT (built operate and transfer) toll assets and a BOT annuity.
The management anticipates 20-25% growth in the topline, combined with strong inflows of Rs1,000 crore.
The announcement of the KKR Deal has also removed a big overhang from the stock. However, significant changes could be witnessed once the deal takes place.
Over the last few years, the company has witnessed strong growth in revenue with a yearly rate of about 12%, while the industry average was just 4.48%. In the meantime, the Company also managed to increase its market share from 1.12% to 1.76%.
Overall, the stock has underperformed the benchmark and declined 14.2% over the last six months.
Brokerages have retained a ‘Buy’ rating for the counter on the back of a well-set balance sheet and strategic asset monetization. Further, it anticipates an upside of 80% from current levels.
At around 3.15 PM, Ashoka Buildcon was trading at Rs81.50 down by Rs0.05 or 0.06% from its previous closing of Rs81.55 on the BSE.
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