ABL - (CMP/TP: Rs. 61/Rs. 74) (Rating: Buy) - 3QFY2014 expectations - Angel Broking

For 3QFY2014, Ashoka Buildcon (ABL) is expected to post a consolidated revenue of Rs. 468cr, indicating a growth of 8.7% yoy. The under-construction captive road BOT projects will drive its E&C revenue. The E&C segment will continue to dominate the company's revenue by contributing Rs. 396cr (up 8.9% yoy) while the BOT segment's share is expected to be Rs. 72cr (up 2.8% yoy). On the margin front, we expect ABL's EBITDAM to increase by 8bp yoy to 19%. On the earnings front, we expect the company to post a growth of 84.1% yoy to Rs. 23cr mainly on account of pick up in execution and lower base of last year.

Source : Equity Bulls

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