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🛣️ Ashoka Buildcon FY25/Q4 Results: ₹432 Cr Profit in Q4, Flat Revenue — But This Infra Giant Isn’t Just Paying Tolls

📌 At a glance:
Ashoka Buildcon delivered a surprise ₹432 Cr profit in Q4 FY25, up 73% YoY, despite revenue falling 11.7%. For the full year, standalone profit dropped 55% to ₹197 Cr — but margins exploded thanks to asset sales, deferred tax reversals, and good ol’ infra accounting magic. With an order book of ₹14,905 Cr and CMP ₹211, this Nashik-based builder is flexing like a budget L&T.


🏗️ About the Company

FieldDetails
SectorInfrastructure, Roads (EPC, BOT, HAM), Solar, Buildings
Founded1993, Nashik
Business ModelBuild + Monetise — EPC + Toll/Annuity + Asset Sales
Operating ZonesRoads, Rail, Bridges, T&D, Solar, Industrial EPC
Fun FactBuilt half your highways while no one paid attention 😎

They don’t sell cement. They sell IRR.


🧑💼 Key Managerial Personnel (KMP)

NameRole
Satish ParakhManaging Director
Manoj KulkarniCompany Secretary
SRBC & Co. LLPStatutory Auditor

📌 Audit Opinion: Clean
⚠️ Pending Issue: CBI case over Bihar project — still a ghost in the footnotes.


📊 FY25 Financials (Standalone & Consolidated)

MetricFY25 StandaloneFY24 StandaloneQ4 FY25 Consolidated
Revenue (₹ Cr)₹7,061.4₹7,727.7₹2,694.4 (↓11.7%)
EBITDA Margin~21% (est.)~17%28.9% (↑810 bps YoY)
PAT (₹ Cr)₹197.2 (↓55%)₹436.5₹432.2 (↑73%)
EPS (Q4 Annualised)~₹17
Net Worth (₹ Cr)~₹3,700 (est.)
CMP₹211

One-time tax

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