Latest news with #ASBL
Time of India
29-05-2025
- Business
- Time of India
Buy Ashoka Buildcon, target price Rs 273: HDFC Securities
HDFC Securities has maintained its buy call on Ashoka Buildcon with a revised target price of Rs 273. The current market price of Ashoka Buildcon is Rs 216.2. Ashoka Buildcon, incorporated in 1993, is a Mid Cap company with a market cap of Rs 5973.79 crore, operating in Infrastructure sector. Ashoka Buildcon's key products/revenue segments include Income From Construction Work, Ready Mix Concrete, Other Operating Revenue, Scrap and Land for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 2755.42 crore, up 13.56% from last quarter Total Income of Rs 2426.36 crore and down -12.19% from last year same quarter Total Income of Rs 3137.88 crore. The company has reported net profit after tax of Rs 451.22 crore in the latest quarter. The company's top management includes Katariya, Hiran, Nazareth, Panchal, Katariya, Parakh, Londhe, Kataria, Mehta, Hiran, Nazareth, Mehta, Kataria, Parakh, Londhe, Kataria, Mehta, Hiran, Nazareth, Panchal, Katariya, Parakh, Londhe, Panchal. Company has SRBC & Co LLP as its auditors. As on 31-03-2025, the company has a total of 28 crore shares outstanding. Investment Rationale Ashoka Buildcon's revenue/EBITDA/APAT came in at Rs 19.7/1.4/0.6bn, a (miss)/beat of -19.3/-35.3/-39.6% vs. HDFC Securities' estimates. EBITDA margin: 7.3% (-19/-186bps YoY/QoQ) was lower than the estimate of 9%, owing to weak margins in legacy projects. ASBL has guided for 10% revenue growth YoY in FY26 and expects to record higher EBITDA margins of 10-11% during that year on the back of new order execution. The OB as of Mar?25 stood at Rs 149 billion (~2.1x FY25 revenue), while the Order Inflow (OI) stood at Rs 95 billion. Further, ASBL guided for OI of Rs 100-120 billon for FY26, while participating in bids worth INR 1.1trn. Business-wise, the revenue is well diversified with HAM (roads)/EPC (roads) /power T&D/railways/EPC (buildings) and others comprising 12.5/58.3/2.8/2.11/24.3%. Additionally, ASBL has already invested Rs 11.1 billion in the HAM portfolio; the balance equity requirement in its existing NHAI HAM assets is Rs 3.7 billion as of Mar?25. Given the stable OB, improving visibility on asset monetisation, and margin expansion on the back of new order execution, the brokerage maintains BUY. However, they have tweaked the SOTP to Rs 273/share (11x Mar-27E EPS) basis lower than expected execution and factoring in 1.4x P/BV for HAM assets. Promoter/FII Holdings Promoters held 54.48 per cent stake in the company as of 31-Mar-2025, while FIIs owned 7.48 per cent, DIIs 14.93 per cent.
Economic Times
29-05-2025
- Business
- Economic Times
Buy Ashoka Buildcon, target price Rs 273: HDFC Securities
HDFC Securities has maintained its buy call on Ashoka Buildcon with a revised target price of Rs 273. The current market price of Ashoka Buildcon is Rs 216.2. Ashoka Buildcon, incorporated in 1993, is a Mid Cap company with a market cap of Rs 5973.79 crore, operating in Infrastructure sector. ADVERTISEMENT Ashoka Buildcon's key products/revenue segments include Income From Construction Work, Ready Mix Concrete, Other Operating Revenue, Scrap and Land for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 2755.42 crore, up 13.56% from last quarter Total Income of Rs 2426.36 crore and down -12.19% from last year same quarter Total Income of Rs 3137.88 crore. The company has reported net profit after tax of Rs 451.22 crore in the latest quarter. The company's top management includes Katariya, Hiran, Nazareth, Panchal, Katariya, Parakh, Londhe, Kataria, Mehta, Hiran, Nazareth, Mehta, Kataria, Parakh, Londhe, Kataria, Mehta, Hiran, Nazareth, Panchal, Katariya, Parakh, Londhe, Panchal. Company has SRBC & Co LLP as its auditors. As on 31-03-2025, the company has a total of 28 crore shares outstanding. Investment Rationale ADVERTISEMENT Ashoka Buildcon's revenue/EBITDA/APAT came in at Rs 19.7/1.4/0.6bn, a (miss)/beat of -19.3/-35.3/-39.6% vs. HDFC Securities' estimates. EBITDA margin: 7.3% (-19/-186bps YoY/QoQ) was lower than the estimate of 9%, owing to weak margins in legacy projects. ASBL has guided for 10% revenue growth YoY in FY26 and expects to record higher EBITDA margins of 10-11% during that year on the back of new order execution. The OB as of Mar?25 stood at Rs 149 billion (~2.1x FY25 revenue), while the Order Inflow (OI) stood at Rs 95 billion. Further, ASBL guided for OI of Rs 100-120 billon for FY26, while participating in bids worth INR 1.1trn. Business-wise, the revenue is well diversified with HAM (roads)/EPC (roads) /power T&D/railways/EPC (buildings) and others comprising 12.5/58.3/2.8/2.11/24.3%. Additionally, ASBL has already invested Rs 11.1 billion in the HAM portfolio; the balance equity requirement in its existing NHAI HAM assets is Rs 3.7 billion as of Mar?25. Given the stable OB, improving visibility on asset monetisation, and margin expansion on the back of new order execution, the brokerage maintains BUY. However, they have tweaked the SOTP to Rs 273/share (11x Mar-27E EPS) basis lower than expected execution and factoring in 1.4x P/BV for HAM assets. Promoter/FII Holdings Promoters held 54.48 per cent stake in the company as of 31-Mar-2025, while FIIs owned 7.48 per cent, DIIs 14.93 per cent. (You can now subscribe to our ETMarkets WhatsApp channel) Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.
Associated Press
19-03-2025
- Business
- Associated Press
'Trump Will Dismantle Programs That Help Small Businesses,' Predicts Lloyd Chapman, American Small Business League Founder and President
Lloyd Chapman, president and founder of the American Small Business League (ASBL), predicts that 'President Trump is going to kill the federal programs that support the 99.9% of all firms in America that are small businesses. His policies have always been anti-small business, just like every Republican president since Ronald Reagan.' 'Killing the programs that support the 34 million small businesses where almost half of Americans work will not 'make America great again'; just the opposite. It will push the economy into a recession.' Specifically, Chapman said, 'I believe Trump will either close the SBA or eviscerate it by combining it with another agency, like the Department of Commerce.' He further stated that, 'Kamala Harris, in the final weeks of her campaign, said she would increase the percentage of federal contracts to small businesses from 23% to 33%. And Robert F. Kennedy Jr., when running for president, said that he would raise the small business contracting goal to 43%.' But since taking office, 'President Trump has fired 20% of the SBA's permanent workforce — the highest percentage of staff fired in any federal agency— and he has cut the SBA budget to the lowest in its history,' said Chapman. 'The contracting requirement of the Small Business Act of 1953 is meant to be the largest economic stimulus program in our history, if presidents would ensure it was properly implemented,' Chapman clarified. 'Unfortunately, 23% of federal contracts are not going to legitimate small businesses. They are being diverted to Fortune 500 firms through a horrible combination of fraud and corruption.' Chapman emphasized that, 'The American people must learn the truth of this scandal and pressure President Trump and every senator and representative on the Senate and House small business committees to make sure that 23% of federal contracts go to legitimate small businesses. Millions of new jobs would get created and our economy would soar.' The American Small Business League (ASBL) is the strongest voice in America protecting the federal programs that assist the nation's 34.7 million small businesses. Winning over 100 Freedom of Information legal battles has exposed the rampant fraud in federal small business programs. In the national media and in federal courts, the ASBL has had a larger presence than all other organizations that claim to represent the interest of small businesses combined. Learn more at Bruce de Torres Director of Communications American Small Business League 707-789-9575 SOURCE: American Small Business League Copyright Business Wire 2025. PUB: 03/19/2025 08:05 AM/DISC: 03/19/2025 08:05 AM
