Ashoka Buildcon Ltd Share Price – NSE /  BSE

Infrastructure Developers & Operators, Small Cap

The agency has also affirmed the company?s short-term rating at ?ACUITE A1+?.

Acuit? Ratings had previously placed the company?s rating on 'Rating Watch with Developing Implications' on account of impending asset monetisation transactions.

Acuite notes that ABL has completed the monetization of 5 BOTs (build-operate-transfer) and 5 HAMs (hybrid annuity model) resulting in total proceeds of Rs 2817 crore.

The proceeds have been utilized to provide an exit to SBI Macquarie, reduction in short term borrowings thereby strengthening the capital structure of the company, make payments to Viva Highways (VHL) to acquire stake in Jaora Nayagaon Toll Road Company (JNTCPL) and settle vendor payments to avail cash discounts. Hence, the rating has been removed from rating watch.

The remaining monetization of 6 HAM assets are expected to be completed by Q1 FY27 with an inflow of Rs 1100 crore. the timely completion of this transaction will remain key monitorable factor.

The rating reaffirmation reflects a steady scale of operations with comfortable order book albeit subdued operating performance.

The company?s unexecuted order book remains robust at Rs.16,477 crore as of 06 February 2026, providing revenue visibility at 2.33x of FY25 revenue. The order book is well-diversified across roads, buildings, power and railways. Additionally, the company has established a subsidiary in Saudi Arabia to tap infrastructure opportunities in the Middle East.

The rating further factors in moderation in the company?s financial risk profile due to decrease in debt protection metrics during FY25. The increase in debt has led to higher interest costs, while lower accruals have resulted in a decline in both interest coverage ratio (ICR) and debt service coverage ratio (DSCR).

Despite this moderation, the company?s tangible net worth has increased, and gearing remained below unity in FY25. The working capital cycle remains intensive due to inherent nature of the business.

Ashoka Buildcon undertakes engineering, procurement and construction (EPC) contracts for the road, railways, buildings and power sector. The company is also the leading players in the BOT (build, own, transfer) segment and hybrid annuity model (HAM).

The scrip fell 1.82% to currently trade at Rs 137.75 on the BSE.

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Ashoka Buildcon announced that ACUITE Ratings & Research has updated the credit rating for both long-term and short-term debt of the Company as 'ACUITE AA (Stable) (Reaffirmed) - 'Removed from Rating Watch' and ACUITE A1+ (Reaffirmed) 'Removed from Rating Watch' respectively.

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The company has been awarded the project from Ministry of Public Works, Liberia, for the upgradation of road stretches from Nrowkia (Sasstown Junction) to Barclayville, Nrowkia (Sasstown Junction) to Sasstown, and part of the Nrowkia (Sasstown Junction) to Nipleppo road in the Liberia.

The said project is valued at $ 45,276,621.07. The construction work is scheduled to be completed within a period of 24 months.

Ashoka Buildcon is engaged in the construction & maintenance of roads and supporting services to land support and operation of toll roads.

The company?s consolidated net profit zoomed 222.59% to Rs to Rs 2,111.41 crore in Q3 FY26 as against Rs 654.50 crore posted in Q3 FY25. Revenue from operations fell 23.47% YoY to Rs 1,827.33 crore in the quarter ended 31 December 2025.

The counter declined 4.26% to settle at Rs 151.75 on the BSE.

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Ashoka Buildcon has received letter of acceptance for the project 'upgrading of the Road from Nrowkia (Sasstown Jn) to Barclayville and Nrowkia (Sasstown Jn) to Sasstown and Part of Nrowkia (Sasstown Jn) to Nipleppo road Project in Republic of Liberia'. The accepted bid project cost is USD 45,276,621.07

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