Ahluwalia Contracts (India) Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹3,567 Cr
- P/E
- 15.83
- ROE
- 13.77%
- PEG
- 1.40
- Price to sales
- 0.76
- Debt to equity
- 0.04
- 52W high / low
- ₹1,054 / ₹526
- Sales growth (5Y)
- 18.16%
- EBITDA margin
- 8.43%
- Net profit margin
- 5.82%
- Promoter holding
- 55.32%
- Sales (last year)
- ₹4,686 Cr
Company is engaged in engineering and contract construction, delivering state of-the-art infrastructure and buildings projects for clients in India.
Guidance scorecard · Q1 FY27 call
What Ahluwalia Contracts (India) Ltd's management guided
and where it ranks in Construction
Construction
RevenueQ1 FY27 call
10–20%- Ahluwalia Contracts expects revenue growth of 12% to 15% for the current financial year, maintaining their previous guidance.
- If external challenges like the NGT impact are similar to last year, growth could exceed 15%.
- For the next financial year (FY28), they aspire for improved margins with hopes of reaching double-digit EBITDA margins.
- Caution is being exercised due to volatility in material and labor costs, so order inflow targets are more conservative (around INR 4,000-5,000 crores).
2 more points from Ahluwalia Contracts (India) Ltd's call on revenue
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MarginsQ1 FY27 call
Down 0–2%See what Ahluwalia Contracts (India) Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- The company has made higher capital expenditure in the last 2-3 years, leading to recurring higher depreciation.
- For Q1, capex was reduced to INR 60 crores, with a full-year capex target lowered to INR 220-250 crores from an earlier INR 300 crores guidance.
- Investments focus on digitization, improving efficiency, and machinery acquisition to offset labor shortages.
2 more points from Ahluwalia Contracts (India) Ltd's call on capex
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FundraisingQ1 FY27 call
See what Ahluwalia Contracts (India) Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- The net order book of Ahluwalia Contracts as of June 30, 2026, is approximately INR 20,663.52 crores.
- This order book is expected to be executed over the next 3 to 3.5 years.
- Total order inflow during FY27 up to June 30, 2026, and currently is INR 512.81 crores.
- The company’s L1 (leading) bids include the RML project valued at INR 500 crores (yet to convert into a work order).
- Earlier bid validity requests for other projects like the Odisha Government University were refused due to cost volatility, causing some bids to fall through.
2 more points from Ahluwalia Contracts (India) Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Construction
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Construction companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹6,531 Cr | 11.7 | |
| 2 | 40%+ | Flat | ₹1,089 Cr | 9.3 | |
| 3 | 40%+ | Flat | ₹898 Cr | 7.6 | |
| 4 | 40%+ | Flat | ₹807 Cr | 14.7 | |
| 5 | 40%+ | Flat | ₹554 Cr | 13.1 | |
| 6 | 40%+ | Flat | ₹516 Cr | 30.7 |
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Pro shows every company guiding 40%+ revenue growth →Full Construction rankingFinancials of Ahluwalia Contracts (India) Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Ahluwalia Contracts (India) Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 743 | 863 | 764 | 902 | 1,026 | 1,164 | 919 | 1,011 | 952 | 1,216 | 1,005 | 1,177 | 1,061 |
| Expenses + | 672 | 753 | 681 | 812 | 915 | 1,059 | 859 | 938 | 868 | 1,092 | 919 | 1,049 | 965 |
| Operating Profit | 71 | 110 | 83 | 90 | 112 | 104 | 60 | 73 | 84 | 124 | 86 | 128 | 96 |
| OPM % | 10% | 13% | 11% | 10% | 11% | 9% | 7% | 7% | 9% | 10% | 9% | 11% | 9% |
| Other Income + | 7 | 9 | 7 | 8 | 9 | 207 | 11 | 12 | 15 | 18 | 16 | 15 | 15 |
| Interest | 7 | 11 | 11 | 11 | 12 | 14 | 15 | 16 | 15 | 13 | 12 | 15 | 11 |
| Depreciation | 11 | 10 | 12 | 13 | 14 | 29 | 15 | 17 | 18 | 17 | 21 | 22 | 26 |
| Profit before tax | 60 | 98 | 67 | 74 | 95 | 269 | 41 | 53 | 67 | 112 | 70 | 106 | 74 |
| Tax % | 25% | 26% | 26% | 26% | 26% | 26% | 26% | 27% | 26% | 26% | 26% | 26% | 27% |
| Net Profit + | 45 | 72 | 50 | 55 | 71 | 200 | 31 | 38 | 50 | 83 | 51 | 79 | 54 |
| EPS in Rs | 6.72 | 10.77 | 7.42 | 8.22 | 10.55 | 29.83 | 4.56 | 5.73 | 7.39 | 12.44 | 7.64 | 11.73 | 8.07 |
Financials of Ahluwalia Contracts (India) Ltd
Profit & Loss
Annual income statement trend
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 961 | 1,060 | 1,250 | 1,427 | 1,647 | 1,755 | 1,885 | 1,982 | 2,692 | 2,838 | 3,855 | 4,099 | 4,459 |
| Expenses + | 925 | 945 | 1,089 | 1,254 | 1,427 | 1,538 | 1,732 | 1,828 | 2,435 | 2,534 | 3,467 | 3,757 | 4,025 |
| Operating Profit | 36 | 115 | 161 | 173 | 219 | 216 | 153 | 154 | 257 | 304 | 388 | 342 | 434 |
| OPM % | 4% | 11% | 13% | 12% | 13% | 12% | 8% | 8% | 10% | 11% | 10% | 8% | 10% |
| Other Income + | 37 | 11 | 13 | 8 | 6 | 10 | 10 | 22 | 28 | 30 | 232 | 56 | 64 |
| Interest | 39 | 39 | 35 | 27 | 25 | 19 | 35 | 43 | 44 | 33 | 48 | 58 | 51 |
| Depreciation | 12 | 21 | 20 | 24 | 26 | 28 | 32 | 30 | 34 | 39 | 67 | 67 | 86 |
| Profit before tax | 22 | 67 | 119 | 131 | 175 | 179 | 97 | 103 | 208 | 262 | 504 | 273 | 361 |
| Tax % | 0% | 4% | 29% | 34% | 34% | 35% | 33% | 25% | 26% | 26% | 26% | 26% | |
| Net Profit + | 22 | 64 | 84 | 86 | 115 | 117 | 64 | 77 | 155 | 194 | 375 | 202 | 267 |
| EPS in Rs | 3.46 | 9.56 | 12.60 | 12.84 | 17.23 | 17.51 | 9.61 | 11.52 | 23.17 | 28.96 | 55.96 | 30.17 | 39.88 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 2% | 2% | 0% | 0% | 1% | 1% | 1% | 2% |
Financials of Ahluwalia Contracts (India) Ltd
Balance Sheet
Capital structure and asset base
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| Reserves | 214 | 324 | 409 | 495 | 608 | 724 | 789 | 865 | 1,022 | 1,215 | 1,587 | 1,785 | 1,911 |
| Borrowings + | 239 | 173 | 142 | 90 | 30 | 61 | 91 | 68 | 54 | 58 | 105 | 76 | 75 |
| Other Liabilities + | 586 | 532 | 593 | 637 | 601 | 689 | 868 | 1,114 | 957 | 1,207 | 1,490 | 1,831 | 1,947 |
| Total Liabilities | 1,050 | 1,042 | 1,157 | 1,235 | 1,252 | 1,488 | 1,762 | 2,061 | 2,046 | 2,493 | 3,195 | 3,706 | 3,946 |
| Fixed Assets + | 136 | 121 | 118 | 198 | 190 | 191 | 226 | 235 | 228 | 293 | 337 | 456 | 551 |
| CWIP | 69 | 79 | 85 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 7 | 12 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 846 | 841 | 954 | 1,036 | 1,062 | 1,296 | 1,535 | 1,826 | 1,818 | 2,199 | 2,851 | 3,238 | 3,395 |
| Total Assets | 1,050 | 1,042 | 1,157 | 1,235 | 1,252 | 1,488 | 1,762 | 2,061 | 2,046 | 2,493 | 3,195 | 3,706 | 3,946 |
Financials of Ahluwalia Contracts (India) Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 21 | 93 | 77 | 126 | 81 | 86 | 110 | 259 | 66 | 301 | 257 | 359 |
| Cash from Investing Activity + | 33 | 21 | -25 | -9 | -20 | -43 | -46 | -48 | -101 | -166 | -310 | -323 |
| Cash from Financing Activity + | -69 | -98 | -57 | -70 | -70 | 19 | -36 | -51 | -44 | -16 | 21 | -52 |
| Net Cash Flow | -15 | 16 | -6 | 48 | -8 | 62 | 27 | 160 | -79 | 120 | -31 | -16 |
| Free Cash Flow | 7 | 71 | 55 | 106 | 63 | 56 | 73 | 224 | 39 | 198 | 145 | 171 |
| CFO/OP | 115% | 49% | 52% | 80% | 62% | 76% | 102% | 188% | 49% | 115% | 102% | 134% |
Financials of Ahluwalia Contracts (India) Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 154 | 144 | 146 | 132 | 125 | 108 | 96 | 69 | 60 | 78 | 71 | 70 |
| Inventory Days | 138 | 112 | 123 | 101 | 91 | 71 | 91 | 119 | 72 | 65 | 63 | 69 |
| Days Payable | 233 | 182 | 177 | 177 | 182 | 202 | 212 | 257 | 183 | 180 | 139 | 172 |
| Cash Conversion Cycle | 58 | 74 | 92 | 55 | 34 | -23 | -26 | -69 | -52 | -37 | -6 | -33 |
| Working Capital Days | -37 | -14 | 29 | 31 | 41 | 51 | 40 | 31 | 33 | 39 | 60 | 56 |
| ROCE % | 8% | 22% | 29% | 27% | 32% | 27% | 16% | 16% | 25% | 25% | 24% | 18% |
Guidance history
How Ahluwalia Contracts (India) Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Down 0–2% | Planned | — | Rising |
| Q4 FY26 call → | 10–20% | Up 0–2% | Planned | None planned | Rising |
| Q3 FY26 call → | 10–20% | Flat | Planned | — | Rising |
| Q2 FY26 call → | 10–20% | Flat | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
2 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −41.8% | 10% |
| Last 6 months | −40.3% | 2% |
| Last 3 months | −35.1% | 2% |
The price is 63.9% below its all-time high of ₹1,475.95 (12 Jul 2024). Stocks more than 20% below their peak have their score halved, so 5 became 2.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Ahluwalia Contracts (India) Ltd: 0.4 × 10 + 0.4 × 2 + 0.2 × 2 = 5, halved to 2 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Ahluwalia Contracts (India) Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q2 FY26 earnings call →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
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