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Ahluwalia Contracts reported consolidated revenue of ₹1125.8 crore

ICICIdirect Research 17 Aug 2026 DISCLAIMER

News: Ahluwalia Contracts reported consolidated revenue of ₹1125.8 crore in Q1FY27, up 12% YoY. EBITDA came in at ₹48.3 crore, with margins down 430 bps YoY to 4.29% mainly caused due to increase in cost of materials consumed by 22.8% to ₹524.7crore. Reported PAT stood at ₹10.4 crore, down 79.7% YoY.

View: Though revenue growth was good given the healthy orderbook of ₹21,096 crore at the end of FY26 implying a book to bill of 4.6x, it is tad lower than management's guidance of 15-20% for FY27. The margins were abysmal and we await management commentary on nature of the same (one off or otherwise), alongwith other details like current order book and outlook commentary.

Impact: Negative

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