Ashoka FY26 PAT rises 49%; Q4 revenue falls
Ashoka Buildcon Limited reported its audited standalone and consolidated financial results for the year ended March 31, 2026. Consolidated PAT for FY26 rose to ₹2,57,580.19 Lakhs from ₹1,73,356.87 Lakhs in the previous year, supported by exceptional gains of ₹2,14,367.03 Lakhs. However, Q4 revenue declined to ₹1,95,430.31 Lakhs from ₹2,69,441.62 Lakhs year-on-year. The order book stood at INR15,312 crores as on March 31, 2026. Management provided FY27 guidance targeting 20% revenue growth, order inflow of INR8,000 crores to INR10,000 crores, and EBITDA margins between 9.5% and 10.5%.
*this image is generated using AI for illustrative purposes only.
Ashoka Buildcon Limited has reported its audited standalone and consolidated financial results for the year ended March 31, 2026. The Board of Directors approved the results at its meeting held on May 21, 2026. The statutory auditors, M/s SRBC & Co. LLP, issued an unmodified opinion on the financial statements. The company submitted a declaration to the stock exchanges confirming that the audit report dated May 21, 2026, carries an unmodified opinion on the Annual Audited IND AS Financial statements for the financial year ended March 31, 2026, in accordance with Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Subsequently, the company published the audited financial results in 'Free Press Journal' and 'Punyanagari' on May 23, 2026, as required under Regulation 30 and 47(3) of the SEBI (LODR) Regulations, 2015.
Q4 Consolidated Performance
On a quarterly basis, Ashoka Buildcon's consolidated performance reflected a year-on-year decline across key metrics. Q4 consolidated net profit stood at ₹ 14,680.72 Lakhs, compared to ₹ 45,167.64 Lakhs in the same quarter of the previous year. Revenue for Q4 came in at ₹ 1,95,430.31 Lakhs versus ₹ 2,69,441.62 Lakhs in the corresponding period last year.
| Metric | Q4 Current Year | Q4 Previous Year | Change (YoY) |
|---|---|---|---|
| Net Profit | ₹ 14,680.72 Lakhs | ₹ 45,167.64 Lakhs | Decline |
| Revenue | ₹ 1,95,430.31 Lakhs | ₹ 2,69,441.62 Lakhs | Decline |
| EBITDA | ₹ 17,286.50 Lakhs | ₹ 48,127.56 Lakhs | Decline |
| EBITDA Margin | 8.85% | 17.86% | Decline |
The Q4 EBITDA stood at ₹ 17,286.50 Lakhs against ₹ 48,127.56 Lakhs in the year-ago quarter, with EBITDA margin contracting to 8.85% from 17.86% on a year-on-year basis.
Standalone Financial Performance
For the year ended March 31, 2026, the company reported a Profit After Tax (PAT) of ₹ 32,043.65 Lakhs, compared to ₹ 19,724.39 Lakhs in the previous year. Revenue from operations for the year stood at ₹ 5,81,165.66 Lakhs. The company recognized exceptional items amounting to a net gain of ₹ 16,472.46 Lakhs during the year, primarily from the sale of investments in subsidiaries and the reversal of obligations towards investors.
| Metric | Year Ended Mar 31, 2026 (₹ in Lakhs) | Year Ended Mar 31, 2025 (₹ in Lakhs) |
|---|---|---|
| Revenue from Operations | 5,81,165.66 | 7,06,142.89 |
| Total Income | 5,95,220.28 | 7,18,779.95 |
| Total Expenses | 5,72,691.81 | 6,90,909.51 |
| Profit Before Tax | 39,017.64 | 27,890.11 |
| Net Profit | 32,043.65 | 19,724.39 |
Consolidated Financial Performance
On a consolidated basis, the company reported a PAT of ₹ 2,57,580.19 Lakhs for the year ended March 31, 2026, a significant increase from ₹ 1,73,356.87 Lakhs in the previous year. Total consolidated income for the year was ₹ 7,70,356.90 Lakhs. The consolidated results included exceptional items totaling a net gain of ₹ 2,14,367.03 Lakhs, largely driven by the sale of stake in HAM and BOT subsidiaries.
| Metric | Year Ended Mar 31, 2026 (₹ in Lakhs) | Year Ended Mar 31, 2025 (₹ in Lakhs) |
|---|---|---|
| Revenue from Operations | 7,51,988.39 | 10,03,662.78 |
| Total Income | 7,70,356.90 | 10,20,542.18 |
| Total Expenses | 6,71,012.77 | 8,65,155.07 |
| Profit Before Tax | 3,13,234.48 | 1,55,478.18 |
| Net Profit | 2,57,580.19 | 1,73,356.87 |
Business Developments and Guidance
During the earnings call held on May 22, 2026, management highlighted FY26 as a transition year marked by a focus on execution quality and financial discipline. The company secured new orders including a project in the Kingdom of Saudi Arabia valued at INR1,800 crores (company share INR900 crores) and a contract in Angola valued at USD72 million. As on March 31, 2026, the balance order book stood at INR15,312 crores, excluding orders received post-March 31, 2026.
Management provided guidance for FY27, targeting revenue growth of 20% and order inflow between INR8,000 crores and INR10,000 crores. EBITDA margins are expected to be in the range of 9.5% to 10.5%. The company continues to progress on the monetization of 6 HAM SPVs, with 4 assets targeted for monetization by June 2026, expected to bring in cash of around INR750-plus crores, and the balance by December 2026.
Board Decisions
Along with the financial results, the Board appointed M/s Hiran Surana, Chartered Accountants, Nashik and M/s Suresh Surana & Co., Chartered Accountants, Mumbai as Joint Internal Auditors for FY 2026-27. Additionally, M/s S. R. Bhargave & Associates, Cost Accountants, Pune, were appointed as Cost Auditors for the fiscal year 2026-27.
Historical Stock Returns for Ashoka Buildcon
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.44% | -0.53% | -11.68% | -26.34% | -45.65% | +29.74% |
How will the recent international orders in Saudi Arabia and Angola impact the company's geographic revenue mix and risk profile in FY27?
Can the company sustain the projected 20% revenue growth in FY27 without further reliance on exceptional items like asset sales?
What specific operational strategies will be implemented to recover EBITDA margins from 8.85% to the guided range of 9.5-10.5%?
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