Ahluwalia Contracts (India) Limited

NSE: AHLUCONTCivil Construction

Share price

₹557.60

+0.64% close of 9 Oct 2026

Market cap ₹3,624 CrP/E 16.1

Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 7 Oct 2026, the close above is 9 Oct 2026.

Business score

How strong the business is, in one number. The parts behind it are in Pro.

out of 100 · worked out 9 Oct 2026

How the business score works

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹3,624 Cr

P/E ratio

16.1

P/B ratio

1.8

ROCE

20.4%

ROE

13.8%

Dividend yield

0.1%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 9 Oct 2026 close52-week high ₹1,053.7052-week low ₹550.05

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 12.0% over the past year, and 8.8% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales slipped from 9.5% to 8.4% over the last four years.

Whether it grew faster than its sector

It grew 8.8% a year against a sector median of 9.1% — 0.4 percentage points slower.

Room to re-rate, or risk of de-rating

At 16.1× earnings against a market that pays 24.1× across 2199 companies we can price. Its own industry sits at 29.3×, across 5 companies. It is against its own five-year median of 22.5×, the 1st percentile of its own range.

Whether growth justifies the valuation

Priced at 1.5 times its growth rate, on earnings growth of 11%.

	Profit growth	Price per ₹1 profit	Per 1% growth
Ahluwalia Contracts (India) Limited — this one	11%/yr	16.1×	₹1.5
Rail Vikas Nigam Limited	-13%/yr	44.2×	—
Kalpataru Projects International Limited	36%/yr	21.3×	₹0.59
IRB Infrastructure Developers Limited	8%/yr	21.5×	₹2.7
NBCC (India) Limited	13%/yr	29.3×	₹2.3
Cemindia Projects Limited	68%/yr	31.8×	₹0.47

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Civil Construction), it ranks 24 of 89 on returns, 45 of 84 on growth, 56 of 90 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

A narrow advantage: it earns 20.4% on capital, ahead of 73% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹1264 crore of cash from the business, spent ₹695 crore on plant and equipment, and returned ₹125 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 117 arrived as cash (before interest, which is why it can exceed the profit). Its cash comes back more slowly than it used to: it went from being waiting 33 days for its cash to waiting 55 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

9 of 10 checks clear · 90%

How the profit check works

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Sales grew 12% against the 15-20% guided in June, and the double-digit margin promise for this year was withdrawn

Announced 14 Aug 2026 · Consolidated · Unaudited

Revenue

₹1,126 Cr

Revenue vs last year

+12.0%

Revenue vs last quarter

-14.8%

Net profit

₹10 Cr

Profit vs last year

-79.6%

Profit vs last quarter

-87.3%

Net margin

0.9%

EPS

₹3.10

Earnings call transcript · 17 Aug 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap: ₹3,624 Cr
Prev close: ₹557.60
52w High: ₹1,078
52w Low: ₹541
Enterprise value: ₹2,880 Cr
Beta: 0.9
Price CAGR 1y: -43.0%
Price CAGR 3y: -8.0%
Price CAGR 5y: 9.0%
Price CAGR 10y: 6.0%

Ratios

Return on assets: 6.2%
PEG ratio: 1.5
P/E ratio: 16.1
P/B ratio: 1.8
EV / EBITDA: 7.3
Industry P/E: 15.8
ROCE: 20.4%
ROCE 5y average: 22.4%
ROE: 13.8%
Debt / Equity: 0.0
Interest coverage: 8.2
Dividend yield: 0.1%
ROE 3y average: 14.0%
ROE last year: 14.0%

Annual P&L

Annual revenue: ₹4,565 Cr
Annual profit: ₹266 Cr
Operating margin: 10.0%
Net profit margin: 5.8%
EBITDA margin: 9.5%
Sales growth 3y: 17.2%
Sales growth 5y: 18.2%
Profit growth 3y: 11.0%
Profit growth 5y: 28.0%
EPS: ₹39.7
Sales growth TTM: 12.0%
Profit growth TTM: 1.0%
Dividend payout: 2.0%

Quarter P&L

Sales latest quarter: ₹1,126 Cr
Profit latest quarter: ₹10 Cr
YoY quarterly sales growth: 12.0%
YoY quarterly profit growth: -80.4%
OPM latest quarter: 4.2%

Balance Sheet

Book Value: ₹317
Face Value: ₹2.0
Total debt: ₹73 Cr
Total cash: ₹817 Cr
Borrowings: ₹73 Cr
Reserves / Equity: 157.4

Cash Flow

Operating cash flow: ₹281 Cr
Free cash flow: ₹16 Cr
FCF yield: -1.0%
Net cash flow: -₹10 Cr

Shareholding

Promoter holding: 55.3%
FII holding: 14.1%
DII holding: 22.3%
Public holding: 8.3%

Peer comparison

Company	Price ₹	P/E	Mkt cap ₹ Cr	Div yield %	Profit qtr ₹ Cr	Profit var %	Sales qtr ₹ Cr	Sales var %	ROCE %
Larsen & Toubro	3,701.50	28.9	5,08,883	1.03	4,988.0	14.0	67,941.7	6.7	14.6
Rail Vikas	195.87	45.4	40,835	0.87	159.5	18.5	4,321.2	10.6	10.8
Kalpataru Proj.	1,458.40	22.4	24,887	0.75	311.5	45.1	6,408.0	3.8	18.3
IRB Infra.Devl.	17.44	21.4	21,029	0.89	306.3	51.3	2,137.3	1.8	7.5
NBCC	76.74	30.2	20,680	1.30	158.0	17.2	2,259.5	-5.5	29.3
Cemindia Project	1,137.80	32.5	19,546	0.26	140.8	2.6	2,720.9	5.6	32.8
Engineers India	308.30	22.1	17,342	1.62	157.9	141.5	819.8	-5.8	30.4
Ahluwalia Contr.	561.50	16.7	3,762	0.12	10.4	-79.7	1,125.8	12.0	20.4
Median	129.94	16.3	666	0.00	10.7	17.2	175.4	11.5	15.6

Competes with: Cemindia Projects Limited, Central Mine Planning & Design Institute Limited, Engineers India Limited, IRB Infrastructure Developers Limited, Ircon International Limited, KEC International Limited, Kalpataru Projects International Limited, Larsen & Toubro, NBCC (India) Limited, Rail Vikas Nigam Limited, Techno Electric & Engineering Company Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026

Line item	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
Sales	764	902	1,026	1,164	919	1,011	952	1,216	1,005	1,177	1,061	1,322	1,126
Expenses	681	812	915	1,059	859	938	868	1,092	919	1,049	965	1,199	1,079
Material Cost										476	399	592	525
Change in Inventories										0	0	0	0
Purchases of Stock-in-Trade										0	0	81	74
Employee Cost										121	116	112	120
Other Expenses										452	450	413	359
Operating Profit	83	90	112	104	60	73	84	124	86	128	96	124	47
OPM %	11	9.93	11	8.96	6.57	7.25	8.87	10	8.59	11	9.06	9.35	4.20
Other Income	7	8	9	207	11	12	15	18	16	15	15	27	16
Exceptional items (within Other Income)										0	0	1.84	0
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	110	14
Tax %	26	26	26	26	26	27	26	26	26	26	27	25	27
Net Profit	50	55	71	200	31	38	50	83	51	79	54	82	10
EPS in Rs	7.42	8.22	11	30	4.56	5.73	7.39	12	7.64	12	8.07	12	1.55
Diluted EPS in Rs										12	8.07	24	3.10

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026

Line item	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	1,060	1,250	1,427	1,647	1,755	1,885	1,982	2,692	2,838	3,855	4,099	4,565	4,686
Expenses	945	1,089	1,254	1,427	1,538	1,732	1,828	2,435	2,534	3,467	3,757	4,130	4,291
Material Cost												1,894
Change in Inventories												0
Purchases of Stock-in-Trade												302
Employee Cost												440
Other Expenses												1,494
Operating Profit	115	161	173	219	216	153	154	257	304	388	342	435	395
OPM %	11	13	12	13	12	8	8	10	11	10	8	10	8
Other Income	11	13	8	6	10	10	22	28	30	232	56	73	73
Exceptional items (within Other Income)												1.32
Interest	39	35	27	25	19	35	43	44	33	48	58	50	55
Depreciation	21	20	24	26	28	32	30	34	39	67	67	98	109
Profit before tax	67	119	131	175	179	97	103	208	262	504	273	359	304
Tax %	4	29	34	34	35	33	25	26	26	26	26	26
Net Profit	64	84	86	115	117	64	77	155	194	375	202	266	225
EPS in Rs	9.56	13	13	17	18	9.61	12	23	29	56	30	40	34
Diluted EPS in Rs												79
Dividend Payout %	0	0	0	2	2	0	0	1	1	1	2	2

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years: 14%
5 years: 18%
3 years: 17%
TTM: 12%

Compounded profit growth

10 years: 12%
5 years: 28%
3 years: 11%
TTM: 1%

Stock price CAGR

10 years: 6%
5 years: 9%
3 years: -8%
1 year: -43%

Return on equity

10 years: 14%
5 years: 15%
3 years: 14%
Last year: 14%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated

Line item	Mar 2015	Mar 2016	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	13	13
Reserves	324	409	495	608	724	789	865	1,022	1,215	1,587	1,785	2,046
Borrowings	173	142	90	30	61	91	68	54	58	105	76	73
Other Liabilities	532	593	637	601	689	868	1,114	957	1,207	1,490	1,831	2,133
Total Liabilities	1,042	1,157	1,235	1,252	1,488	1,762	2,061	2,046	2,493	3,195	3,706	4,266
Fixed Assets	121	118	198	190	191	226	235	228	293	337	456	634
CWIP	79	85	1	0	0	0	0	0	1	7	12	6
Investments	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	841	954	1,036	1,062	1,296	1,535	1,826	1,818	2,199	2,851	3,238	3,626
Total Assets	1,042	1,157	1,235	1,252	1,488	1,762	2,061	2,046	2,493	3,195	3,706	4,266

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated

Line item	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	93	77	126	81	86	110	259	66	301	257	359	281
Cash from Investing Activity	21	-25	-9	-20	-43	-46	-48	-101	-166	-310	-323	-257
Cash from Financing Activity	-98	-57	-70	-70	19	-36	-51	-44	-16	21	-52	-34
Net Cash Flow	16	-6	48	-8	62	27	160	-79	120	-31	-16	-10
Free Cash Flow	71	55	106	63	56	73	224	39	198	145	171	16

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated

Line item	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	144	146	132	125	108	96	69	60	78	71	70	59
Inventory Days	112	123	101	91	71	91	119	72	65	63	69	66
Days Payable	182	177	177	182	202	212	257	183	180	139	172	157
Cash Conversion Cycle	74	92	55	34	-23	-26	-69	-52	-37	-6	-33	-32
Working Capital Days	-14	29	31	41	51	40	31	33	39	60	56	55
ROCE %	22	29	27	32	27	16	16	25	25	24	18	20

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026

Line item	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	55	55	55	55	55	55	55	55	55	55	55	55
FIIs	13	13	13	13	13	13	12	12	13	14	14	14
DIIs	27	26	26	25	25	25	24	24	24	23	22	22
Public	5.43	5.61	5.32	6.11	6.87	7.48	8.27	7.98	8.01	7.79	8.61	8.32
No. of Shareholders	12,792	15,723	19,876	25,169	34,897	37,567	38,986	37,376	36,535	35,476	36,498	34,624

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -42.7% (₹973.60 → ₹557.60)Brick size ₹20.10 (fixed)Bricks 67

Price moved up one brickPrice moved down one brickLast close ₹557.60 on 9 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

-744inr_cr

2026-03-31

order book, Rs crore

20,664inr_cr

2026-06-30

order inflow

512inr_cr

2026-06-30

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.03cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

1,17,99,426inr

2026-03-31

News

News and filings about Ahluwalia Contracts (India) Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

aggregates
bricks
cement
sand
steel / reinforcement steel / structural steel
tools and general stores materials
wire

Depends on the price of

cement
steel

Sells to

DLF Limited · civil construction services (The Dahlias DLF 5 Gurugram, DLF City Center Downtown, The Arb…
Godrej Properties · core & shell construction of four towers, Godrej Riverine, Noida (~Rs 397 Cr)
Signatureglobal (India) Limited · civil construction services (Signature Global Business Park)

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector: Construction
Industry: Civil Construction
Classification: Construction › Civil Construction
ISIN: INE758C01029

Business segments

Contract Work · 100%
Investment Property · 0%

Plants

Ahlcon Ready Mix Concrete Pvt. Ltd. RMC plants · Delhi NCR, Delhi/Haryana/Uttar Pradesh

News impact

Big market events that reach Ahluwalia Contracts (India) Limited, and how the effect spreads.

28 Sept, 10:51 IST · Market event · high impact

MICL transfers Marine Lines development rights to Godrej Properties in ₹6,000-crore revenue deal

Godrej Properties gained a Rs6,000-crore Marine Lines housing project from MICL, boosting its future sales and work for builders, while rival Mumbai builders face tougher competition.

Realty

Who it hits first

MICL, a Mumbai builder that managed the Marine Lines housing project with Shreepati Group, handed its development rights to Godrej Properties.
Godrej Properties, a large home builder, now controls a project expected to bring Rs6,000-crore in sales.
MICL steps back from building and will no longer share in that future revenue.

Who may gain

Godrej Properties shareholders, who gain a Rs6,000-crore South Mumbai project
Construction contractors and cement makers that supply Godrej Properties' new building work
Home buyers in Marine Lines who get a Godrej-built project

Along the supply chain

Downstream

Flat buyers, brokers and home-loan lenders in South Mumbai gain a fresh Godrej housing supply to sell and finance once bookings open.

Upstream

Cement and contract builders that supply Godrej — UltraTech Cement makes cement, Capacite Infraprojects and Ahluwalia Contracts build towers — gain future orders as work starts.

Where demand moves

Business

Godrej Properties gains future home sales worth Rs6,000-crore in Marine Lines, so its order book grows; contractors, cement and building suppliers see fresh work as construction starts, while rival builders gain no new sales.

Capital

Investors are likely to buy Godrej Properties on the bigger pipeline, lifting its shares, while money drifts away from rival builders that missed this prime plot and from MICL as it exits the project.

How it spreads across sectors

Construction

Contractors see a small lift from expected Marine Lines building orders.

Construction Materials

Cement and material makers see a small lift from future demand.

Realty

Godrej's pipeline grows, lifting sentiment for large Mumbai builders, while smaller rivals see no spillover.

When it plays out

Immediate

Next 1-7 days: Godrej shares firm on the Rs6,000-crore pipeline news; contractors edge up on order hopes.

Medium term

Next 1-6 months: Approvals and pre-sales decide the real gain; rivals refocus on their own Mumbai launches.

Short term

Next 1-4 weeks: Godrej details launch timelines and approvals; suppliers watch for tender wins.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

22 Sep 2026	unspecified	₹0.7
22 Sep 2025	unspecified	₹0.6
20 Sep 2024	unspecified	₹0.5
22 Sep 2023	unspecified	₹0.4
20 Sep 2022	unspecified	₹0.3
17 Sep 2019	unspecified	₹0.3
12 Sep 2018	unspecified	₹0.3
15 Sep 2011	unspecified	₹0.4

Splits, bonuses & buybacks

daily-prices repair: 10 rows from NSE's archive (replace 4, delete 1, insert 5), 2018-11-07..2026-02-01 (docs/flat_day_repair.md)1× · 7 Nov 2018

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.