Ashoka Buildcon Limited · NSE:ASHOKA
Ashoka Buildcon — Q2 FY26 Earnings Presentation
31 slides from Ashoka Buildcon's earnings presentation, Nov 15, 2025
Slide 1: Result update filing letter to BSE and NSE
Ashoka Buildcon Limited To, To, The Manager, The Manager, The Department of Corporate Services The Listing Department BSE Limited National Stock Exchange of India Limited Floor 25, P. J. Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai – 400 001 Bandra (East), Mumbai – 400 051 Scri
Slide 2: Investor Presentation November 2025
Investor Presentation November 2025
Slide 3: Safe Harbor
Safe Harbor This presentation has been prepared by and is the sole responsibility of Ashoka Buildcon Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitation or in
Slide 4: Q2 & H1 FY26 Business & Financial Highlights
Q2 & H1 FY26 Business & Financial Highlights
Slide 5: Key Updates
Key Updates North Western Railway, Jaipur Project - LOA received ABL received a LOA from North Western Railway, Jaipur Project Authority for the up-gradation of existing Electric Traction System from 1x25kV to 2x25kV and modification of existing OHE for 160 kmph in few sections of Jaipur Division of
Slide 6: Q2 & H1 FY26 Standalone Financial Performance Highlights
Q2 & H1 FY26 Standalone Financial Performance Highlights Total Revenue (Rs. Crs.) EBITDA (Rs. Crs.)* EBITDA Margin %* Profit before Tax* 0% +130 bps -11% -12% 1,459 160 160 12.3% 65 Q2 FY26 1,303 11.0% 57 Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 +2% +270 bps -21% -17% 3,360 30
Slide 7: Debt Profile
Debt Profile Consolidated Debt (Rs. Crs.) Cash & Bank Balance Break up (Rs. Crs.) Standalone Debt Project Debt Incl ACL Debt Standalone Cash & Bank Balance Consolidated Cash & Bank Balance 6,881 6,847 6,671 6,826 1,826 1,317 1,466 1,405 1,652 4,910 1,151 1,362 5,564 5,381 5,266 5,174 3,548 198 383 1
Slide 8: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement Particulars (Rs. Crs.) Q2 FY26 Q2 FY25 Y-o-Y Q1 FY26 Q-o-Q H1 FY26 H1 FY25 Y-o-Y Revenue from Operations 1,266.1 1,417.6 -11% 1,310.6 -3% 2,576.7 3,294.6 -22% Other Income 36.5 41.3 28.5 65.0 65.1 Total Revenue 1,302.6 1,458.9 -11% 1,339.1 -3% 2,641.7 3,359.7 -21%
Slide 9: Standalone Balance sheet
Standalone Balance sheet Assets (Rs. Crs.) Sep’25 Mar’25 Equity & Liabilities (Rs. Crs.) Sep’25 Mar’25 Non - Current Assets 2,127.8 2,375.7 Total Equity 4,179.0 4,009.4 Property Plant & Equipment 292.5 303.5 Share Capital 140.4 140.4 Capital Work In Progress 5.5 16.3 Other Equity 4,038.7 3,869.0 Int
Slide 10: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. Crs.) Q2 FY26 Q2 FY25 Y-o-Y Q1 FY26 Q-o-Q H1 FY26 H1 FY25 Y-o-Y Revenue from Operations 1,851.2 2,488.9 -26% 1,887.1 -2% 3,738.2 4,954.3 -25% Other Income 56.7 40.1 49.9 106.6 69.3 Total Revenue 1,907.9 2,529.0 -25% 1,937.0 -2% 3,844.9 5,023.6 -2
Slide 11: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Crs.) Sep’25 Mar’25 Equity & Liabilities (Rs. Crs.) Sep’25 Mar’25 Non - Current Assets 2,903.5 3,011.9 Total Equity 4,476.5 4,159.1 Property Plant & Equipments 319.3 323.6 Share Capital 140.4 140.4 Capital Work In Progress 46.3 52.8 Investment Property 36.9 38.
Slide 12: Cash Flow Statement
Cash Flow Statement Standalone Consolidated Particulars (Rs. Crs.) Sep’25 Sep’24 Sep’25 Sep’24 Profit Before Exceptional Items & Tax 212.6 121.4 363.8 766.9 Adjustments for: Non-Cash / Other Items 64.2 149.9 509.3 355.0 Operating profit before working capital changes 276.8 271.3 873.1 1,121.9 Change
Slide 13: Company Overview
ASHOKA Ashoka Buildcon Ltd. Company Overview
Slide 14: Ashoka Buildcon – Legacy of Excellence
Ashoka Buildcon – Legacy of Excellence 50+ YEARS of Rs. 14,888 Crs. 10,000+ members experience in Order Book as on 30th in Ashoka Family construction industry September 2025** 14,000 LANE Kms. 30,000 Villages of highway constructed illuminated through Power T&D projects ACUITE RATINGS 5 Year CAGR* A
Slide 15: ABL - Business Structure
ABL - Business Structure Ashoka Buildcon Limited Ashoka Concession Limited (ACL) (ABL owning 66% Stake, Balance with SBI Macquarie) ABL Own Projects % Stake HAM Projects % Stake Mudhol Nipani (BOT Annuity) 100% Mallasandra Karadi Road 100% Karadi Banwara Road 100% Bagewadi Saundatti (BOT Annuity) 10
Slide 16: Order Book
Order Book Segment Breakup Region Breakup Client Breakup 0.8% 13.4% 4.7% 8.2% 11.6% 3.2% North 0.1% 8.2% 31.0% South 12.2% 12.3% Road EPC 45.8% East Central Govt Road HAM West State Govt Building EPC Central HAM 7.8% Railways 3.1% North East Private Client Power T&D Overseas 62.5% Overseas 62.9% 12.
Slide 17: Current Order Backlog
Current Order Backlog Segment Rs. Crs. Segment Rs. Crs. Roads 8,650 Other EPC Projects Tumkur-Shivamogga IV, Karnataka 203 Baswantpur to Singnodi 25 Rajasthan 90 Tumkur-Shivamogga III, Karnataka 55 Uttar Pradesh 87 Tumkur - Shivamogga II, Karnataka 41 Madhya Pradesh 494 HAM Tumkur - Shivamogga I, Ka
Slide 18: HAM Project Portfolio
HAM Project Portfolio All figures in Rs Crs. As per Financial Closure As per Actuals PIM Projects % Stake Estimated Estimated Grant Equity PIM Total Debt No. of th Status TPC Est. Grant Est. Contribution (As on 30 September 2025) (ACL/ABL) Equity Debt Received Invested Received Drawn Annuity Due Est
Slide 19: BOT Project Portfolio
BOT Project Portfolio All figures in Rs Crs. Projects (Rs. Crs.) Concession Contract Ending Debt as on % Stake State / Client Lane / Lanes Kms Type Signing Date Grant/ Premium (As on 30 th September 2025) Period Date 30th Sep 2025 ACL Projects Premium of Rs. Rs. 31 Cr BOT (Toll), Belgaum Dharwad 100
Slide 20: Gross Toll Collection
Gross Toll Collection Projects (Rs. Crs.) Q2 FY26 Q2 FY25 Y-o-Y Q1 FY26 Q-o-Q H1 FY26 H1 FY25 Y-o-Y ACL Projects Belgaum Dharwad 31.1 29.6 5% 32.4 -4% 63.5 61.5 3% Dhankuni Karagpur 144.7 132.2 9% 150.4 -4% 295.1 264.0 12% Bhandara 31.4 28.8 9% 31.3 0% 62.7 59.8 5% Durg 37.0 34.1 8% 37.7 -2% 74.7 70
Slide 21: Toll Collection
Toll Collection ACL Projects Company Project Period FY22 FY23 FY24 FY25 FY26 % Rise Q1 18.9 33.9 35.2 31.9 32.4 1.6% Q2 25.1 31.3 32.7 29.6 31.1 4.9% Ashoka Belgaum Belgaum Dharwad Q3 29.8 34.0 35.5 31.6 Dharwad Tollway Ltd. Project Q4 30.5 35.8 34.4 31.7 104.3 135.0 137.8 124.8 63.5 Q1 84.9 117.4 1
Slide 22: Toll Collection
Toll Collection ACL Projects Company Project Period FY22 FY23 FY24 FY25 FY26 % Rise Q1 17.3 24.0 28.4 30.9 40.7 31.7% Q2 17.9 21.8 28.1 29.5 32.2 9.1% Ashoka Sambalpur Sambalpur Bargarh Q3 19.5 24.7 29.4 32.6 Bargarh Tollway Ltd Project Q4 20.8 27.3 31.9 34.1 75.5 97.8 117.9 127.1 72.9 Q1 36.8 49.1
Slide 23: Top Executive Management
Top Executive Management Mr. Ashok Katariya Mr. Satish Parakh Mr. Sanjay Londhe Mr. Ashish A. Kataria Mr. Paresh Mehta Chairman Managing Director Whole Time Director Whole Time Director Chief Financial Officer • In 1976, Mr. Katariya laid the • Mr. Parakh’s association • Mr. Londhe heads the • Mr. A
Slide 24: Experienced Board of Directors
Experienced Board of Directors Mr. Ashok Katariya Mr. Satish Parakh Mr. Sanjay Londhe Mr. Ashish Kataria Chairman Managing Director Whole Time Director Whole Time Director Mr. Mario Nazareth Mr. Nikhilesh Panchal Mr. Mahendra Mehta Ms. Shilpa Hiran Independent Director Independent Director Independe
Slide 25: Current Signature Project - Mopa Airport Link Road, Goa
Current Signature Project - Mopa Airport Link Road, Goa MOPA AIRPORT LINK ROAD – GOA Project Length : 6.58 km with elevated portion of 4.4 km This superstructure is one of the highest elevated corridors constructed in India, with several piers as high as 40 meters 24 Developing Infrastructure for Be
Slide 26: Road Project in Guyana
Road Project in Guyana Ashoka Buildcon recently completed construction of a prestigious road project in Guyana (South America), one of the fastest growing economies of the world. The project has earned appreciation from Indian and Guyanese Governments 25 Developing Infrastructure for Better Tomorrow
Slide 27: Signature Projects showcasing Project Execution Capabilities
Signature Projects showcasing Project Execution Capabilities India’s First 8 Lane Extra Dosed Cable Stayed Bridge Built in 33 Months • Despite flood situations in 2 consecutive years and the pandemic, team Ashoka completed this prestigious 8 lanes bridge across Narmada river in Gujarat in Record tim
Slide 28: Marquee Clients
Marquee Clients ….and many more 27 Developing Infrastructure for Better Tomorrow
Slide 29: Awards & Recognition
Awards & Recognition 28 Developing Infrastructure for Better Tomorrow
Slide 30: Awards & Recognition
Awards & Recognition 29 Developing Infrastructure for Better Tomorrow
Slide 31: THANK YOU
THANK YOU Company: Ashoka Buildcon Limited Investor Relations: Strategic Growth Advisors (SGA) CIN: L45200MH1993PLC071970 CIN: U74140MH2010PTC204285 Mr. Paresh Mehta (CFO) Mr. Deven Dhruva / Mr. Jigar Kavaiya paresh.mehta@ashokabuildcon.com deven.dhruva@sgapl.net / jigar.kavaiya@sgapl.net Tel: 0253