Buy Ashoka Buildcon, target price Rs 277: Hem Securities

Hem Securities has buy call on Ashoka Buildcon with a target price of Rs 277. The current market price of Ashoka Buildcon Ltd. is Rs 233.6.

Ashoka Buildcon Ltd., incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 6639.38 Crore) operating in Infrastructure sector.

Ashoka Buildcon Ltd. key Products/Revenue Segments include Income From Construction Work, Ready Mix Concrete, Other Operating Revenue, Scrap and Land for the year ending 31-Mar-2023.



Financials
For the quarter ended 31-03-2024, the company reported a Consolidated Total Income of Rs 3137.88 Crore, up 16.26 % from last quarter Total Income of Rs 2698.94 Crore and up 26.63 % from last year same quarter Total Income of Rs 2477.96 Crore. Company reported net profit after tax of Rs 263.42 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 54.48 per cent stake in the company as of 31-Mar-2024, while FIIs owned 7.23 per cent, DIIs 17.63 per cent.