AHLUCONT
Ahluwalia Contracts (India) Limited
Civil construction and EPC contractor for infrastructure and commercial projects
Industrials›Construction›Construction›Civil Construction
acilnet.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹555.00
Market cap
3,718 Cr
Stock P/E
16.5
P/B
1.81
Dividend yield
0.1%
ROE (FY26)
12.9%
ROCE (FY26)
19.9%
Operating margin (FY26)
7.4%
Debt / equity (FY26)
0.0018
OCF / EBITDA (FY26)
121.0%
OCF / EBITDA (3Y)
95.5%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
Ahluwalia Contracts (India) is a construction contractor that builds large residential, commercial, hospital, institutional and infrastructure projects for government and private clients, with its biggest concentration of work in Delhi NCR and northern India.
Company snapshot
23rdBy market cap
Ranked among 90 companies in Civil Construction.
Segment mix
Reportable segments as of 2024-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.
Largest segment: 99.8% of revenue
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| CONTRACT WORK | 99.8% | 2,876 Cr | 192 Cr | — |
| INVESTMENT PROPERTY | 0.2% | 5 Cr | -0.41 Cr | — |
| OTHERS | 0.1% | 2 Cr | 0.18 Cr | — |
| UNALLOCATED | — | 0 Cr | 0 Cr | — |
What we see
Positives
- ✓96% of operating profit came in as cash over the last three years — profits are backed by real cash.
1 more signal from the filings.Sign in free to see them all
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 902 Cr | 1,026 Cr | 1,164 Cr | 919 Cr | 1,011 Cr | 952 Cr | 1,216 Cr | 1,005 Cr | 1,177 Cr | 1,061 Cr | 1,322 Cr | 1,126 Cr |
| Operating expenses (approx.) | 812 Cr | 915 Cr | 1,059 Cr | 859 Cr | 938 Cr | 868 Cr | 1,092 Cr | 919 Cr | 1,049 Cr | 965 Cr | 1,199 Cr | 1,078 Cr |
| EBITDA | 90 Cr | 112 Cr | 104 Cr | 60 Cr | 73 Cr | 84 Cr | 124 Cr | 86 Cr | 129 Cr | 96 Cr | 124 Cr | 48 Cr |
| OPM % | 10.0% | 10.9% | 9.0% | 6.6% | 7.3% | 8.9% | 10.2% | 8.6% | 10.9% | 9.1% | 9.4% | 4.3% |
| Other income | 8 Cr | 9 Cr | 12 Cr | 11 Cr | 12 Cr | 15 Cr | 18 Cr | 16 Cr | 15 Cr | 15 Cr | 25 Cr | 16 Cr |
| Interest | 11 Cr | 12 Cr | 14 Cr | 15 Cr | 16 Cr | 15 Cr | 13 Cr | 12 Cr | 15 Cr | 11 Cr | 12 Cr | 16 Cr |
| Depreciation | 13 Cr | 14 Cr | 29 Cr | 15 Cr | 17 Cr | 18 Cr | 17 Cr | 21 Cr | 22 Cr | 26 Cr | 29 Cr | 32 Cr |
| Profit before tax | 74 Cr | 95 Cr | 269 Cr | 41 Cr | 53 Cr | 67 Cr | 112 Cr | 70 Cr | 106 Cr | 74 Cr | 110 Cr | 14 Cr |
| Tax % | 25.5% | 25.8% | 25.7% | 26.2% | 26.8% | 25.9% | 25.5% | 26.4% | 25.8% | 26.7% | 25.3% | 27.5% |
| Net profit | 55 Cr | 70 Cr | 200 Cr | 31 Cr | 39 Cr | 50 Cr | 83 Cr | 51 Cr | 79 Cr | 54 Cr | 82 Cr | 10 Cr |
| EPS (₹) | ₹8.22 | ₹10.49 | ₹29.83 | ₹4.56 | ₹5.77 | ₹7.39 | ₹12.44 | ₹7.64 | ₹11.73 | ₹8.07 | ₹12.24 | ₹1.55 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,427 Cr | 1,647 Cr | 1,752 Cr | 1,885 Cr | 1,982 Cr | 2,692 Cr | 2,838 Cr | 3,855 Cr | 4,099 Cr | 4,565 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 1,253 Cr | 1,427 Cr | 1,536 Cr | 1,732 Cr | 1,828 Cr | 2,436 Cr | 2,534 Cr | 3,467 Cr | 3,757 Cr | 4,130 Cr | Sign in free for the trailing twelve months |
| EBITDA | 174 Cr | 219 Cr | 216 Cr | 153 Cr | 154 Cr | 257 Cr | 304 Cr | 388 Cr | 342 Cr | 435 Cr | Sign in free for the trailing twelve months |
| OPM % | 12.2% | 13.3% | 12.3% | 8.1% | 7.8% | 9.5% | 10.7% | 10.1% | 8.3% | 9.5% | Sign in free for the trailing twelve months |
| Other income | 8 Cr | 6 Cr | 10 Cr | 10 Cr | 22 Cr | 29 Cr | 30 Cr | 37 Cr | 55 Cr | 72 Cr | Sign in free for the trailing twelve months |
| Interest | 27 Cr | 25 Cr | 19 Cr | 35 Cr | 43 Cr | 44 Cr | 33 Cr | 48 Cr | 58 Cr | 50 Cr | Sign in free for the trailing twelve months |
| Depreciation | 24 Cr | 26 Cr | 28 Cr | 32 Cr | 30 Cr | 34 Cr | 39 Cr | 67 Cr | 67 Cr | 98 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 131 Cr | 175 Cr | 179 Cr | 97 Cr | 103 Cr | 208 Cr | 262 Cr | 504 Cr | 273 Cr | 359 Cr | Sign in free for the trailing twelve months |
| Tax % | 34.2% | 34.0% | 34.6% | 33.3% | 25.4% | 25.5% | 25.9% | 25.7% | 26.0% | 26.0% | Sign in free for the trailing twelve months |
| Net profit | 86 Cr | 115 Cr | 117 Cr | 64 Cr | 77 Cr | 155 Cr | 194 Cr | 375 Cr | 202 Cr | 266 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹12.87 | ₹17.23 | ₹17.50 | ₹9.61 | ₹11.52 | ₹23.17 | ₹28.96 | ₹55.95 | ₹30.17 | ₹39.69 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 0.0% | 0.0% | 1.0% | 0.7% | 1.5% | -1.4% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 13 Cr | 13 Cr | 13 Cr | 13 Cr | 13 Cr | 13 Cr | 13 Cr | 13 Cr | 13 Cr | 13 Cr |
| Reserves | 491 Cr | 608 Cr | 721 Cr | 789 Cr | 865 Cr | 1,022 Cr | 1,215 Cr | 1,587 Cr | 1,785 Cr | 2,046 Cr |
| Borrowings | 90 Cr | 30 Cr | 61 Cr | 47 Cr | 16 Cr | 0.69 Cr | 3 Cr | 45 Cr | 14 Cr | 4 Cr |
| Other liabilities | 638 Cr | 594 Cr | 687 Cr | 909 Cr | 1,166 Cr | 1,010 Cr | 1,262 Cr | 1,550 Cr | 1,894 Cr | 2,202 Cr |
| Total liabilities | 1,232 Cr | 1,244 Cr | 1,483 Cr | 1,759 Cr | 2,061 Cr | 2,046 Cr | 2,493 Cr | 3,195 Cr | 3,706 Cr | 4,265 Cr |
| Fixed assets (net) | 105 Cr | 97 Cr | 99 Cr | 104 Cr | 120 Cr | 115 Cr | 183 Cr | 237 Cr | 359 Cr | 532 Cr |
| CWIP | 0.28 Cr | 0.31 Cr | 0.44 Cr | 0.21 Cr | 0.38 Cr | 0.05 Cr | 0.83 Cr | 7 Cr | 7 Cr | 6 Cr |
| Investments | 0.46 Cr | — | 90 Cr | 120 Cr | 112 Cr | 110 Cr | 108 Cr | 89 Cr | 88 Cr | 94 Cr |
| Loans & advances | — | — | 0.53 Cr | 1 Cr | 0.26 Cr | 0.45 Cr | 0.38 Cr | 0.65 Cr | 0.78 Cr | 1 Cr |
| Inventories | 248 Cr | 189 Cr | 222 Cr | 221 Cr | 297 Cr | 242 Cr | 244 Cr | 316 Cr | 339 Cr | 342 Cr |
| Trade receivables | 455 Cr | 566 Cr | 649 Cr | 493 Cr | 374 Cr | 443 Cr | 606 Cr | 746 Cr | 785 Cr | 733 Cr |
| Cash & bank | 84 Cr | 75 Cr | 138 Cr | 165 Cr | 326 Cr | 246 Cr | 366 Cr | 335 Cr | 318 Cr | 308 Cr |
| Other assets | 340 Cr | 317 Cr | 283 Cr | 655 Cr | 831 Cr | 889 Cr | 985 Cr | 1,465 Cr | 1,809 Cr | 2,247 Cr |
| Total assets | 1,232 Cr | 1,244 Cr | 1,483 Cr | 1,759 Cr | 2,061 Cr | 2,046 Cr | 2,493 Cr | 3,195 Cr | 3,706 Cr | 4,265 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 126 Cr | 81 Cr | 86 Cr | 110 Cr | 259 Cr | 66 Cr | 301 Cr | 257 Cr | 329 Cr | 526 Cr |
| Cash from investing | -9 Cr | -20 Cr | -43 Cr | -46 Cr | -48 Cr | -101 Cr | -166 Cr | -310 Cr | -323 Cr | 373 Cr |
| Cash from financing | -70 Cr | -70 Cr | 19 Cr | -36 Cr | -51 Cr | -44 Cr | -16 Cr | 21 Cr | -52 Cr | 17 Cr |
| Net cash flow | 48 Cr | -9 Cr | 62 Cr | 27 Cr | 160 Cr | -79 Cr | 120 Cr | -31 Cr | -46 Cr | 916 Cr |
| Free cash flow (OCF − Capex) | 106 Cr | 63 Cr | 56 Cr | 73 Cr | 223 Cr | 38 Cr | 195 Cr | 143 Cr | 141 Cr | 526 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 26.6% | 30.7% | 25.0% | 15.5% | 16.3% | 24.3% | 23.9% | 33.6% | 18.3% | 19.9% |
| ROE % | 17.1% | 18.6% | 16.0% | 8.0% | 8.8% | 15.0% | 15.8% | 23.4% | 11.2% | 12.9% |
| Debtor days | 116 | 125 | 135 | 96 | 69 | 60 | 78 | 71 | 70 | 58 |
| Inventory days | 127 | 98 | 101 | 89 | 118 | 71 | 65 | 63 | 69 | 66 |
| Days payable | 181 | 195 | 195 | 211 | 254 | 182 | 180 | 139 | 171 | 157 |
| Cash conversion cycle | 62 | 28 | 41 | -26 | -67 | -51 | -37 | -6 | -33 | -32 |
| OCF / EBITDA % | 72.9% | 36.9% | 39.6% | 71.7% | 168.0% | 25.6% | 99.1% | 66.3% | 96.3% | 121.0% |
| OCF / EBITDA % (3 years) | — | — | 48.1% | 47.0% | 86.8% | 77.1% | 87.6% | 65.8% | 85.8% | 95.5% |
| Debt / equity | 0.18 | 0.05 | 0.08 | 0.06 | 0.02 | 0.0007 | 0.0022 | 0.03 | 0.0078 | 0.0018 |
| Current ratio | 1.28 | 1.52 | 1.66 | 1.54 | 1.60 | 1.77 | 1.80 | 2.17 | 2.12 | 1.89 |
| Net debt / EBITDA | 0.03 | -0.21 | -0.36 | -0.77 | -2.01 | -0.96 | -1.19 | -0.75 | -0.89 | -0.70 |