Buy Ashoka Buildcon, target price Rs 155: JM Financial
Ashoka Buildcon with a target price of Rs 155.0. The current market price of Ashoka Buildcon.
is Rs 102.12.
Ashoka Buildcon, incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 2873.20 Crore) operating in Infrastructure sector.
Ashoka Buildcon key Products/Revenue Segments include Income From Construction Work, Ready Mix Concrete, Other Operating Revenue and Scrap for the year ending 31-Mar-2022.
Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 1973.14 Crore, down -20.37 % from last quarter Total Income of Rs 2477.96 Crore and up 2.99 % from last year same quarter Total Income of Rs 1915.93 Crore. Company has reported net profit after tax of Rs 71.80 Crore in latest quarter.
Investment RationaleThe company expects to complete sale of Jaora-Nayagaon, Chennai ORR and CGD business by Dec-23 leading to inflows of INR 10.2bn, which will be used to partly reduce the guaranteed return of INR 12bn to SBI-M.
