- 01 Dec 2022
- ICICIdirect Research
ASHOKA BUILDCON LTD: SECURED EPC ORDER WORTH RS1,668.5 CRORE
ASHOKA - 282 Change: -1.02 (-0.36 %)News:
Ashoka Buildcon Ltd has declared L1 by NHAI for the project “Construction of 6 lane Elevated Corridor along with development of existing 4 lane road at ground level from Aroor to Thuravoor Thekku section of NH - 66 (length 12.7 Km) in the State of Kerala on EPC mode”. The Bid value stood at Rs1,668.5 crore.
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Ashoka Buildcon’s order book at the end of Q2FY23 was at Rs 14,901 crore, which translates to 2.7x TTM revenues. Going forward, the company has guided for order inflows of ~Rs 5,000 crore during H2 FY23 (bagged orders worth Rs 3,200+ crore during H1 FY23) and the recent order win is likely to strengthen its overall order book position further. With robust order pipeline (in roads, railways, power, etc), the company is likely to achieve the targeted inflows, albeit key concern is on margin volatility as seen in the past.
Impact:
Positive