Ahluwalia Contracts (India) Limited (AHLUCONT)

Loading page…

Ahluwalia Contracts (India) Limited (AHLUCONT) · mywealthgrid

About

Civil construction company (Industrials), ₹5,610 Cr market cap. Standalone quarterly revenue ₹1,060–1,322 Cr; no debt. Regular dividends (2022–2025).

Face value: ₹2

Market cap

₹3,725 Cr

P/E

16.6×

P/B

1.8×

Dividend yield

0.1%

ROE

13.8%

ROCE

16.8%

Debt / equity

OPM

9.5%

EPS (TTM)

₹33.6

Book value

₹307.3

52-week high

—

52-week low

—

Key insights

Company research notes and source-linked reviews

Key risks

Jun 2026 OPM fell to 4.28%, net profit to ₹11.42 Cr (vs ₹80+ Cr in Mar); root cause — contract mix, delay, or Q1 seasonal — unresolved.
Stock down 13.22% in 1y; PE 24.93 elevated. Verify if repricing reflects structural margin pressure or transient performance.
Quarterly revenue ₹1,060–1,322 Cr — project-lumpy; tender pipeline and execution timing critical.
Construction cyclical on government capex and policy; verify current infrastructure cycle stage.

Generated analysis · source review pending

Growth drivers

Zero debt (D/E 0) funds capex or M&A without refinancing strain; verify capex intent if disclosed.
Dividend history 2022–2025 signals cash generation; verify if FCF supports organic growth or tail distributions.
Quarterly base ₹1,060–1,322 Cr; growth contingent on government infrastructure spending — verify tender and bid pipeline.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹555.9+0.8%1Y

Quick read

rule-based

Pros

+Profit CAGR of 28.1% over the last 5 years
+Revenue CAGR of 18.2% over the last 5 years
+Almost debt-free (debt/equity 0)

Cons

−Low dividend payout of 2.1% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

56/100

Business quality: 48
Growth: 41
Valuation: 79

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,647	1,752	1,885	1,982	2,692	2,838	3,855	4,099	4,565
COGS	—	—	905	919	1,239	1,361	1,839	3,320	2,196
Gross profit	—	—	980	1,063	1,453	1,478	2,016	779	2,369
	1,427	1,536	827	909	1,197	1,173	1,628	437	1,934
	219	216	153	154	257	304	388	342	435
OPM %	13.3%	12.3%	8.1%	7.8%	9.5%	10.7%	10.1%	8.3%	9.5%
Depreciation	26	28	32	30	34	39	67	67	98
Interest	25	19	35	43	44	33	48	58	50
	6	10	10	22	29	29	232	56	73
Profit before tax	175	179	97	103	208	262	504	273	359
Tax	59	62	32	26	53	68	130	71	93
Tax %	34%	34.6%	33.3%	25.4%	25.5%	25.9%	25.7%	26%	26%
	115	117	64	77	155	194	375	202	266
PAT margin %	7%	6.7%	3.4%	3.9%	5.8%	6.8%	9.7%	4.9%	5.8%
EPS (₹)	—	—	9.6	11.5	23.2	29	56	30.2	79.4
EPS adjusted (₹)	17.2	17.5	9.6	11.5	23.2	29	55.9	30.2	39.7
	—	—	0%	0%	1.3%	1.4%	0.9%	2%	0.9%
Annual report	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	13	13	13	13	13	13	13	13	13	13
Reserves	491	608	721	791	865	1,022	1,215	1,587	1,785	2,046
	90	30	61	47	16	1	3	45	14	4
	638	601	687	909	1,166	1,010	1,262	1,550	1,894	2,202
Total equity & liabilities	1,232	1,252	1,483	1,760	2,061	2,046	2,493	3,195	3,706	4,265
	107	99	102	105	116	111	185	247	368	540
CWIP	0	0	0	0	7	6	1	7	7	6
Investments	0	—	—	6	112	110	108	89	88	94
	1,125	1,153	1,381	1,754	1,826	1,818	2,199	2,851	3,243	3,625
Total assets	1,232	1,252	1,483	1,760	2,061	2,046	2,493	3,195	3,706	4,265

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Contract Work	4,558.95	371.57	324.15	2,141.76	—	—
Investment Property	6.25	0.15

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	52%	53.6%	54%	52.1%	52.3%	19%	51.9%
EBITDA margin %	12.3%	8.1%	7.8%	9.5%	10.7%	10.1%	8.3%	9.5%
EBIT margin %	10.8%	6.4%	6.2%	8.3%	9.3%	8.3%	6.7%	7.4%
PAT margin %	6.7%	3.4%	3.9%	5.8%	6.8%	9.7%	4.9%	5.8%
Working capital
Receivable days	158	116	69	60	78	71	70	59
Inventory days	53	89	118	71	65	63	37	57
Payable days	—	211	254	182	180	139	93	135
NWC days	—	-6	-67	-51	-37	-6	14	-20
Leverage
Current ratio	1.66	1.54	1.6	1.77	1.8	2.17	2.12	1.89
Debt to EBITDA	0.28	0.31	0.11	0	0.01	0.12	0.04	0.01
Debt to equity	0.08	0.06	0.02	0	0	0.03	0.01	0
Interest coverage	10.3	3.8	3.4	5.8	8.9	7.4	5.7	8.1
Asset turnover	1.18	1.07	0.96	1.32	1.14	1.21	1.11	1.07
Return ratios
Return on assets %	7.9%	3.7%	3.7%	7.6%	7.8%	11.7%	5.5%	6.2%
Return on capital employed %	27.3%	15.2%	14.5%	22.4%	23.2%	21.3%	15.5%	16.8%
Return on equity %	16%	8%	8.8%	15%	15.8%	23.4%	11.2%	12.9%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	55.32%	55.32%	55.32%	55.32%	55.32%	55.32%	55.32%	55.32%	55.32%	55.32%	55.32%	55.32%
	12.61%	12.66%	13.32%	13.25%	12.86%	12.51%	12.07%	12.44%	12.86%	13.53%	13.74%	14.05%
	26.65%	26.4%	26.04%	25.31%	24.96%	24.7%	24.33%	24.26%	23.81%	23.37%	22.32%	22.32%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	5.42%	5.62%	5.32%	6.12%	6.86%	7.47%	8.28%	7.98%	8.01%	7.78%	8.62%	8.31%
No. of shareholders	—	—	—	—	—	—	—	—	36,535	35,476	36,498	34,624

Promoter holding up 0 percentage points since Sep 2023.

4 deals · 22 Sept 2021 – 10 Mar 2022

Date	Client	Type	Venue	Side	Quantity	Price	Value
10 Mar 2022	SBI MUTUAL FUND	Bulk	NSE	Sell	17,06,606	₹383.25	₹65.41 Cr
10 Mar 2022	SBI MUTUAL FUND	Bulk	NSE	Buy	17,01,209	₹383.25	₹65.20 Cr
22 Sept 2021	SUDERSHAN WALIA	Bulk	NSE	Sell	18,00,000	₹369.59	₹66.53 Cr
22 Sept 2021	ADITYA BIRLA SUN LIFE MUTUAL FUND	Bulk	NSE	Buy	8,15,000	₹369.50	₹30.11 Cr

1–4 of 4

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Bikramjit AhluwaliaExecutive Director-Chairperson-CEO-MD
Satbeer SinghChief Financial Officer
Mr. Shobhit UppalExecutive Director
Mr. Vikas AhluwaliaExecutive Director
Mr. Sanjiv SharmaExecutive Director
Mr. Rajendra Prashad GuptaNon-Executive - Independent Director
Mr. Sunil Kumar SachdevaNon-Executive - Independent Director
Mr. Ashok KhuranaNon-Executive - Independent Director
Mrs. Sheela BhideNon-Executive - Independent Director
Vipin Kumar TiwariGM (Corporate) , Company Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 7 fund houses

Held by these funds

17.44%

of the company's equity

All mutual funds

21.69%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

11 schemes · 7 fund houses

		Shares
Smallcap Fund	SBI Mutual Fund	45 L	278.64	0.65%	6.716%	-0
Small Cap Fund	Axis Mutual Fund	31.98 L	198.04	0.63%	4.774%	-21,769
Infrastructure Fund	SBI Mutual Fund	12 L	74.3	1.54%	1.791%	-0
ELSS Tax Saver Fund	DSP Mutual Fund	11.47 L	71.02	0.43%	1.712%	-0
Large & Mid Cap Fund	DSP Mutual Fund	7.98 L	49.39	0.27%	1.191%	-1,769
India T.I.G.E.R. Fund (The Infrastructure Growth and Economic Reforms Fund)	DSP Mutual Fund	4.91 L	30.41	0.47%	0.733%	-0
HOUSING OPPORTUNITIES FUND	ICICI Prudential Mutual Fund	1.88 L	11.65	0.43%	0.281%	+1.02 L
Small Cap Fund	Bajaj Finserv Mutual Fund	85,194	5.28	0.2%	0.127%	-1.48 L

1–8 of 11

1 / 2

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Aug 2026Transcript AI Summary PPT REC
Jun 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

8 announcementsExport CSV

30 Sept 2026, 11:18 amInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

30 Sept 2026, 10:29 amAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

29 Sept 2026, 3:03 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

7 Sept 2026, 11:28 amAGM/EGM

Sub: Compliance With Regulation 47 Of The SEBI (LODR), Regulations 2015 As Amended Ref.: Advertisement- Notice Of 47Th Annual General Meeting

AGM PDF

3 Sept 2026, 4:46 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

3 Sept 2026, 4:30 pmAGM/EGM

47Th Annual General Meeting Held On 29-09-2026 At 12.30 P.M.

AGM PDF

3 Sept 2026, 4:26 pmAGM/EGM

47Th Annual General Meeting Of The Company Will Be Held On Tuesday, 29Th Day Of September, 2026 At 12.30 P.M.

AGM PDF

3 Sept 2026, 4:23 pmOthers

Business Responsibility and Sustainability Reporting (BRSR)

Business Responsibility and Sustainability Reporting (BRSR) PDF

Date	Category	Subject	Filing
30 Sept 2026, 11:18 am	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
30 Sept 2026, 10:29 am	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF

Loading announcements…

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	52%	53.6%	54%	52.1%	52.3%	19%	51.9%
EBITDA margin %	12.3%	8.1%	7.8%	9.5%	10.7%	10.1%	8.3%	9.5%
EBIT margin %	10.8%	6.4%	6.2%	8.3%	9.3%	8.3%	6.7%	7.4%
PAT margin %	6.7%	3.4%	3.9%	5.8%	6.8%	9.7%	4.9%	5.8%
Working capital
Receivable days	158	116	69	60	78	71	70	59
Inventory days	53	89	118	71	65	63	37	57
Payable days	—	211	254	182	180	139	93	135
NWC days	—	-6	-67	-51	-37	-6	14	-20
Leverage
Current ratio	1.66	1.54	1.6	1.77	1.8	2.17	2.12	1.89
Debt to EBITDA	0.28	0.31	0.11	0	0.01	0.12	0.04	0.01
Debt to equity	0.08	0.06	0.02	0	0	0.03	0.01	0
Interest coverage	10.3	3.8	3.4	5.8	8.9	7.4	5.7	8.1
Asset turnover	1.18	1.07	0.96	1.32	1.14	1.21	1.11	1.07
Return ratios
Return on assets %	7.9%	3.7%	3.7%	7.6%	7.8%	11.7%	5.5%	6.2%
Return on capital employed %	27.3%	15.2%	14.5%	22.4%	23.2%	21.3%	15.5%	16.8%
Return on equity %	16%	8%	8.8%	15%	15.8%	23.4%	11.2%	12.9%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Larsen & ToubroLTLT	₹5,05,996 Cr	₹6,27,679 Cr	₹2,90,137 Cr	₹28,950 Cr	10.2%	₹16,590 Cr	6.6%	15.4%	15.5%	-142
Rail Vikas Nigam LimitedRVNLRVNL	₹41,075 Cr	₹45,888 Cr	₹20,825 Cr	₹891 Cr	3.8%	₹900 Cr	4.3%	10.2%	9%	66
Kalpataru Projects International LimitedKPILKPIL	₹23,167 Cr	₹26,474 Cr	₹27,380 Cr	₹2,277 Cr	8.3%	₹1,136 Cr	3.8%	20.3%	14.6%	-94
Nbcc (India) LimitedNBCCNBCC	₹20,898 Cr	₹20,898 Cr	₹12,752 Cr	₹656 Cr	4.8%	₹743 Cr	5.8%	29.3%	26.2%	-7,663
Irb Infrastructure Developers LimitedIRBIRB	₹20,533 Cr	₹40,541 Cr	₹7,686 Cr	₹4,182 Cr	52.1%	₹954 Cr	11.1%	6.1%	4.2%	67
Cemindia Projects LimitedCEMPROCEMPRO	₹20,254 Cr	₹21,120 Cr	₹10,185 Cr	₹1,058 Cr	10.2%	₹602 Cr	5.9%	44.8%	28.2%	-110
Engineers India LimitedENGINERSINENGINERSIN	₹17,577 Cr	₹17,577 Cr	₹3,878 Cr	₹750 Cr	17.7%	₹784 Cr	17.6%	28.8%	23.8%	-22
Techno Electric & Engineering Company LimitedTECHNOETECHNOE	₹11,614 Cr	₹11,686 Cr	₹3,356 Cr	₹469 Cr	14.2%	₹431 Cr	14.6%	13.6%	12%	-33
Ircon International LimitedIRCONIRCON	₹10,369 Cr	₹16,033 Cr	₹9,241 Cr	₹771 Cr	8.4%	₹524 Cr	6.5%	7.8%	9.2%	-469
Rites LimitedRITESRITES	₹10,068 Cr	₹10,068 Cr	₹2,458 Cr	₹555 Cr	22.9%	₹417 Cr	18.8%	19.3%	15.4%	-2,276
Welspun Enterprises LimitedWELENTWELENT	₹10,026 Cr	₹11,998 Cr	₹3,544 Cr	₹716 Cr	20.7%	₹308 Cr	10.9%	17.3%	12.5%	-422
Kec International LimitedKECKEC	₹9,912 Cr	₹15,015 Cr	₹23,506 Cr	₹1,599 Cr	7.1%	₹554 Cr	2.6%	23.1%	10.5%	-132

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	81	86	110	259	66	301	257	329	281
	-20	-43	-46	-48	-101	-166	-310	-323	-257
	-70	19	-36	-51	-44	-16	21	-52	-34
Net cash flow	-9	62	27	161	-79	120	-31	-46	-10
Free cash flow	—	56	73	223	38	195	143	141	15
CFO / Operating profit %	36.9%	39.7%	71.7%	168%	25.6%	99.1%	66.3%	96.3%	64.7%

Ahluwalia Contracts (India) Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Announcements

Not in the F&O segment

12

1

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Contract Work · revenue

Ahluwalia Contracts (India) Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Announcements

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Dividends12

Board meetings1

Ratio timeline

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Contract Work · revenue

12

1