Ahluwalia Contracts (India) Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Contract Work: 99.9% • Investment Property: 0.1%
AI Sector View
AI GENERATEDConstruction
Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.
PROS
- Company has delivered good profit growth of 28.1% CAGR over last 5 years
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 26.2%
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 18.2% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.07x)
CONS
- Recent results are weak - TTM profit is down 16.4% versus prior year
- Contingent liabilities are large at 153.6% of net worth
- Though reporting repeated profits, the company pays out little dividend (1.8%)
- Growth is decelerating - 3Y profit CAGR (11.1%) trails the 5Y trend (28.1%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| DLF | 643.60 | 35.83 | 159311.06 | 1.24 | 793.90 | -89.59 | 1280.34 | -52.87 | 6.81 | 49.68 |
| LODHA | 1113.00 | 26.96 | 111226.00 | 0.38 | 1373.10 | 103.39 | 4996.70 | 43.10 | 16.89 | 38.51 |
| PHOENIXLTD | 1891.15 | 52.85 | 67642.25 | 0.13 | 394.51 | 22.95 | 1074.94 | 12.80 | 15.41 | 59.77 |
| PRESTIGE | 1505.00 | 56.92 | 64824.90 | 0.13 | 271.40 | -12.87 | 2675.10 | 15.94 | 11.51 | 31.75 |
| OBEROIRLTY | 1747.40 | 24.16 | 63535.85 | 0.46 | 543.51 | 29.02 | 1300.89 | 31.73 | 17.69 | 56.75 |
| GODREJPROP | 1745.00 | 32.85 | 52564.02 | 0.57 | 349.38 | -41.61 | 506.17 | 16.48 | 8.37 | -57.98 |
| ANANTRAJ | 599.05 | 37.26 | 21558.43 | 0.17 | 149.19 | 18.50 | 631.40 | 6.58 | 12.23 | 29.53 |
| BRIGADE | 638.90 | 30.00 | 20844.71 | 0.24 | 216.94 | 37.35 | 1115.55 | -12.93 | 11.02 | 32.33 |
| ABREL | 1284.65 | 108.49 | 14348.99 | 0.19 | -34.59 | -27.73 | 188.85 | 30.95 | -4.54 | -30.02 |
| SOBHA | 1217.35 | 56.45 | 13020.02 | 0.49 | 50.85 | 273.37 | 1278.15 | 50.03 | 6.96 | 6.07 |
| SIGNATURE | 762.15 | 10.27 | 10722.39 | 0.00 | -16.53 | -148.00 | 551.99 | -36.24 | 34.77 | -8.10 |
| AHLUCONT | 600.05 | 17.86 | 4019.59 | 0.12 | 10.39 | -79.71 | 1125.81 | 12.03 | 21.14 | 4.20 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 764 | 902 | 1,026 | 1,164 | 919 | 1,011 | 952 | 1,216 | 1,005 | 1,177 | 1,061 | 1,322 | 1,126 | |
| 681 | 812 | 915 | 1,059 | 859 | 938 | 868 | 1,092 | 919 | 1,049 | 965 | 1,199 | 1,126 | |
| Operating Profit | 83 | 90 | 112 | 104 | 60 | 73 | 84 | 124 | 86 | 129 | 96 | 124 | -0 |
| OPM % | 10.82% | 9.96% | 10.90% | 8.96% | 6.58% | 7.26% | 8.87% | 10.17% | 8.59% | 10.93% | 9.06% | 9.35% | -0.03% |
| 7 | 8 | 9 | 207 | 11 | 12 | 15 | 18 | 16 | 15 | 15 | 25 | 16 | |
| Interest | 11 | 11 | 12 | 14 | 15 | 16 | 15 | 13 | 12 | 15 | 11 | 12 | 16 |
| Depreciation | 12 | 13 | 14 | 29 | 15 | 17 | 18 | 17 | 21 | 22 | 26 | 29 | 32 |
| Profit before Tax | 67 | 74 | 95 | 269 | 41 | 53 | 67 | 112 | 70 | 106 | 74 | 108 | 14 |
| Tax % | 25.61% | 25.47% | 25.65% | 25.74% | 26.18% | 26.92% | 25.92% | 25.56% | 26.40% | 25.67% | 26.71% | 25.78% | 27.51% |
| Net Profit | 0 | 0 | 0 | 0 | 31 | 39 | 50 | 83 | 51 | 79 | 54 | 82 | 10 |
| 7.42 | 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
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,427 | 1,647 | 1,755 | 1,885 | 1,982 | 2,692 | 2,838 | 3,855 | 4,099 | 4,565 | 4,686 | |
| 1,253 | 1,427 | 1,538 | 1,732 | 1,828 | 2,436 | 2,534 | 3,467 | 3,761 | 4,148 | 4,338 | |
| Operating Profit | 174 | 219 | 216 | 153 | 154 | 256 | 304 | 388 | 337 | 417 | 348 |
| OPM % | 12.17% | 13.31% | 12.33% | 8.12% | 7.78% | 9.52% | 10.71% | 10.07% | 8.23% | 9.14% | 7.43% |
| 8 | 6 | 10 | 10 | 22 | 29 | 30 | 232 | 60 | 89 | 71 | |
| Interest | 27 | 25 | 19 | 35 | 43 | 44 | 33 | 48 | 58 | 50 | 55 |
| Depreciation | 24 | 26 | 28 | 32 | 30 | 34 | 39 | 67 | 67 | 98 | 109 |
| Profit before Tax | 131 | 175 | 179 | 97 | 103 | 208 | 262 | 504 | 273 | 359 | 303 |
| Tax % | 34.16% | 33.98% | 34.61% | 33.30% | 25.40% | 25.52% | 25.87% | 25.70% | 25.97% | 25.96% | 26.05% |
| Net Profit | 86 | 115 | 117 | 64 | 77 | 155 | 194 | 375 | 202 | 266 | 224 |
| EPS | 12.87 | 17.23 | 17.51 | 9.61 | 11.52 | 23.17 | 28.96 | 55.95 | 30.17 | 39.69 | — |
| Dividend Payout % | 0.00% | 1.74% | 1.71% | 0.00% | 0.00% | 1.29% | 1.38% | 0.89% | 1.99% | 1.76% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 14%
- 5 Years:
- 18%
- 3 Years:
- 17%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 12%
- 5 Years:
- 28%
- 3 Years:
- 11%
STOCK PRICE CAGR
- 10 Years:
- 7%
- 5 Years:
- 9%
- 3 Years:
- -5%
- 1 Year:
- -35%
RETURN ON EQUITY
- 10 Years:
- 16%
- 5 Years:
- 17%
- 3 Years:
- 17%
- Last Year:
- 14%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 |
| 491 | 608 | 724 | 789 | 865 | 1,022 | 1,215 | 1,587 | 1,785 | 2,046 | |
| 152 | 57 | 124 | 160 | 220 | 125 | 148 | 421 | 495 | 526 | |
| Trade Payables | 352 | 378 | 429 | 523 | 640 | 619 | 672 | 700 | 847 | 815 |
| 208 | 174 | 168 | 249 | 299 | 241 | 419 | 441 | 530 | 829 | |
| Total Liabilities | 1,218 | 1,230 | 1,457 | 1,736 | 2,038 | 2,020 | 2,467 | 3,162 | 3,671 | 4,229 |
| 107 | 99 | 102 | 110 | 123 | 118 | 185 | 247 | 368 | 550 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 7 | 7 | 6 |
| 248 | 189 | 148 | 221 | 297 | 242 | 244 | 316 | 339 | 342 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 746 | 785 | 733 | |
| Cash & Bank | 123 | 125 | 209 | 244 | 418 | 433 | 588 | 780 | 964 | 817 |
| 740 | 817 | 998 | 1,161 | 1,200 | 1,227 | 1,448 | 1,066 | 1,207 | 1,780 | |
| Total Assets | 1,218 | 1,230 | 1,457 | 1,736 | 2,038 | 2,020 | 2,467 | 3,162 | 3,671 | 4,229 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 138 | 137 | 165 | 157 | 291 | 125 | 350 | 257 | 359 | 281 | |
| Cash from Investing | -9 | -20 | -43 | -46 | -48 | -101 | -166 | -310 | -323 | -257 |
| Cash from Financing | -70 | -70 | 19 | -36 | -51 | -44 | -16 | 21 | -52 | -34 |
| 48 | -9 | 62 | 27 | 160 | -79 | 120 | -31 | -16 | -10 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-07 - Ahluwalia Contracts (India) Limited has informed the Exchange that Record date for the purpose of Dividend & Meeting is 22-Sep-2026.
2026-09-07 - Ahluwalia Contracts (India) Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 29, 2026
2026-09-03 - Ahluwalia Contracts (India) Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 29, 2026
2026-08-20 - Ahluwalia Contracts (India) Limited has informed the Exchange about Transcript
2026-08-17 - Ahluwalia Contracts (India) Limited has informed the Exchange about Link of Recording
2026-08-17 - Ahluwalia Contracts (India) Limited has informed the Exchange about Investor Presentation
2026-08-17 - Ahluwalia Contracts (India) Limited has informed the Exchange that Record date for the purpose of Dividend & Meeting is 22-Sep-2026.
2026-08-17 - Ahluwalia Contracts (India) Limited has informed the Exchange about General Updates
2026-08-14 - Ahluwalia Contracts (India) Limited has informed the Exchange that Record date for the purpose of Dividend & Meeting is 22-Sep-2026.
News
Recent coverage and analyst commentary for AHLUCONT
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Ahluwalia Contracts (India) Ltd.
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