Ahluwalia Contracts (India) has received an order from Indian Financial Technology and Allied Services for Civil Structural, Facade, and Related External Development Works for Enterprise Computing and Cybersecurity Training Institute in Bhubaneshwar, Orissa, with a project value of Rs. 199.58 crore. The order inflow during the current FY 2023-24 stands at Rs.4377.41 crore till date.
Ahluwalia Contracts (India), incorporated in the year 1979, is a small cap company - having a market cap of ₹4386.01 crore - operating in construction sector. The company reported a consolidated total income of ₹871.96 crore for the quarter ended 31-03-2023, up 16.25 per cent from the previous quarter. In the most recent quarter, the company generated a net profit after tax of ₹72.20 crore.
Ahluwalia Contracts (India) key products/revenue segments include contract revenue, scrap, property development and lease rentals. The net order book of the company as on March 31, 2023 stood at Rs. 5870 crore, to be executed in the next 2 to 2.5 years. In the fourth quarter, the company anticipates an order inflow of INR 500 crores.
The bid pipeline totals INR 3,000 crores, with private funds accounting for 40% of the total. The company's order book is divided into commercial, infrastructure, institutional, residential, hospital, and hotel projects, with 82.46% coming from the government and 17.54% coming from the private sector. The company's target EBITDA margin for FY24 is 12%, with a goal of finishing this year at around 11%. For the past nine months, the company has spent INR 80 crores on capital expenditure.
As of 31-Mar-2023, the promoters held 55.32 per cent of the company, while FIIs owned 11.5 per cent and DIIs owned 27.97 per cent. Over the past 2-3 years, the company has been incurring an annual capex of Rs. 20-30 crores, and majority of this capex is in replacing old defunct equipment. The projected capex for FY23 stands to be Rs. 30 crore.
The company has several clients across the hotel, institutional, hospital segments like The Leela, Fortis, Hyatt, Amity, TATA, Apollo Hospitals, to name a few.
