Ashoka Buildcon reported muted set of numbers during Q2 FY22.
News: Ashoka Buildcon reported muted set of numbers during Q2 FY22. Standalone revenue improved merely by 4.5% YoY to Rs.917.1 crore. EBITDA margin stood at 11.5% (down 341 bps YoY) – as the base quarter had certain one-off benefits on account of release of contingencies due to project completion. Consequently, EBITDA de-grew 19.4% on YoY basis to Rs.105.5 crore. Benign operating performance has translated into 8.7% YoY decline in PAT to Rs.95.6 crore.
Views: Ashoka Buildcon’s performance stood benign in Q2 FY22. Additionally, the SBI-Macquarie stake exit, asset monetization and order inflows issue remains the key overhang on the company.