AHLUCONT
Ahluwalia Contracts (India) share price & financials
- Price
- ₹853.25
- Market cap
- ₹4.7k Cr
- Sector
- Construction
- Calls analysed
- 8
Ahluwalia Contracts (India) Limited Q1 FY27
What went well
- Turnover grew by 12.03% YoY to INR 1,125.81 crores.
- Strong order book of INR 20,663.52 crores provides revenue visibility for the next 3 to 3.5 years.
- Cash and bank balances stood at INR 920 crores, indicating healthy liquidity.
What to watch
- PAT declined significantly by 77.65% YoY to INR 11.42 crores.
- EBITDA margin compressed to 4.29% from 8.59% YoY, primarily due to AIIMS Jammu bill reduction (2.6% impact), labor cost increases (35-40% in NCR), and higher staff costs.
What Ahluwalia Contracts (India) Limited does
Ahluwalia Contracts (India) Limited (ACIL) is an integrated engineering, design and construction (EPC) company that builds residential and commercial complexes, hotels, hospitals, institutional buildings, corporate offices/IT parks, industrial complexes, automated car parking, metro stations and depots, redevelopment of railway stations, urban infrastructure and data centres. It earns by winning and executing turnkey construction contracts for public and private sector clients, spanning central government, state government and private developers. The company operates pan-India from a corporate office in New Delhi with regional offices in Mumbai, Kolkata and Bengaluru, and has also executed a project overseas in Nepal.
Segments
- Residential
- Infrastructure
- Commercial / Industrial
- Hospital
- Institutional
- Hotel
- Ongoing projects
- 53+ (as of 31 Mar 2026)
- Geographic presence
- Projects across 16 Indian states plus 1 overseas project (Nepal)
- Operating history
- Five decades of EPC construction expertise; incorporated 1979
- Regional offices
- Corporate office in New Delhi; regional offices in Mumbai, Kolkata and Bengaluru
- Quality certifications
- ISO 9001, ISO 14001, ISO 27001 and ISO 45001 certified
- Stock exchange listings
- Listed on BSE (2007) and NSE (2009)
Guidance record · Q1 FY27
what the last two calls moved 24 tracked 3 delivered 7 missed 14 open- FY25 Revenue Growth missed said Q2 FY25 Promised: ~15% Q1 FY27: Historical metric, no further updates.
- Jewellery Park Project Start delayed said Q2 FY25 Promised: Revenue start in H2 FY26 Q1 FY27: Project continues to face delays due to client-side design changes, pushing out the execution timeline.
- EBITDA Margin Recovery open said Q1 FY27 Promised: Back to Q1 FY26 levels Q1 FY27: After a disastrous Q1 FY27 margin of 4.29%, management hopes to get back to Q1 FY26 levels (8.59%) over the next three quarters.
All 24 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 12.0%, net profit down 78.4% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,011 | 952 | 1,216 | 1,005 | 1,177 +16% | 1,061 +11% | 1,322 +9% | 1,126 +12% |
| EBITDA | 73 | 84 | 124 | 86 | 129 +77% | 96 +14% | 124 +0% | 48 −44% |
| Net profit | 38 | 49 | 83 | 51 | 79 +108% | 54 +10% | 80 −4% | 11 −78% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −36.4% 1Y
1Y: ₹945.7 on 10 Sept 2025 → ₹601. High ₹1,053.7 (18 Nov 2025), low ₹592.3 (10 Sept 2026).
How the price took the results
close before → close after
- Q1 FY27
- −5.2%
- 17 Aug
- Q4 FY26
- −3.6%
- 1 Jun
- Q3 FY26
- −11.9%
- 16 Feb
- Q2 FY26
- +11.2%
- 17 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 17.2% a year over 3 years, FY23 to FY26. Operating margin narrowed to 9.5%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹2.8k Cr | ₹3.9k Cr | ₹4.1k Cr | ₹4.6k Cr |
| Operating profit | ₹304 Cr | ₹389 Cr | ₹341 Cr | ₹435 Cr |
| Operating margin | 10.7% | 10.1% | 8.3% | 9.5% |
| Interest | ₹33 Cr | ₹48 Cr | ₹59 Cr | ₹50 Cr |
| Depreciation | ₹39 Cr | ₹68 Cr | ₹67 Cr | ₹98 Cr |
| Net profit | ₹194 Cr | ₹376 Cr | ₹201 Cr | ₹264 Cr |
| Net margin | 6.8% | 9.8% | 4.9% | 5.8% |
| Cash from operations | ₹301 Cr | ₹257 Cr | ₹359 Cr | ₹281 Cr |
| Free cash flow | ₹198 Cr | ₹145 Cr | ₹171 Cr | ₹16 Cr |
| ROCE | 25.0% | 24.0% | 18.0% | 20.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr |
| Reserves | ₹867 Cr | ₹1.0k Cr | ₹1.2k Cr | ₹1.6k Cr | ₹1.9k Cr | ₹2.0k Cr |
| Borrowings | ₹68 Cr | ₹54 Cr | ₹58 Cr | ₹105 Cr | ₹75 Cr | ₹73 Cr |
| Other liabilities | ₹1.1k Cr | ₹957 Cr | ₹1.2k Cr | ₹1.5k Cr | ₹1.9k Cr | ₹2.1k Cr |
| Total liabilities | ₹2.1k Cr | ₹2.0k Cr | ₹2.5k Cr | ₹3.2k Cr | ₹3.9k Cr | ₹4.3k Cr |
| Fixed assets | ₹230 Cr | ₹223 Cr | ₹288 Cr | ₹331 Cr | ₹551 Cr | ₹629 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹7 Cr | ₹0 Cr | ₹6 Cr |
| Investments | ₹6 Cr | ₹6 Cr | ₹6 Cr | ₹6 Cr | ₹0 Cr | ₹6 Cr |
| Other assets | ₹1.8k Cr | ₹1.8k Cr | ₹2.2k Cr | ₹2.9k Cr | ₹3.4k Cr | ₹3.6k Cr |
| Total assets | ₹2.1k Cr | ₹2.0k Cr | ₹2.5k Cr | ₹3.2k Cr | ₹3.9k Cr | ₹4.3k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs trimmed −1.94 pp while FIIs added +1.61 pp. The shareholder count shrank 7% to 34,624.
- Promoters
- 55.3%
- FIIs
- 14.1%
- DIIs
- 22.3%
- Public
- 8.3%
Since Jun 2025
- DIIs −1.94 pp
- FIIs +1.61 pp
- Public +0.34 pp
How it drifted, 12 quarters
Over this window DIIs fell from 26.6% to 22.3% — −4.3 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 55.3%, FIIs 12.6%, DIIs 26.6%, Public 5.4%.Dec '23: Promoters 55.3%, FIIs 12.7%, DIIs 26.4%, Public 5.6%.Mar '24: Promoters 55.3%, FIIs 13.3%, DIIs 26.0%, Public 5.3%.Jun '24: Promoters 55.3%, FIIs 13.3%, DIIs 25.3%, Public 6.1%.Sep '24: Promoters 55.3%, FIIs 12.8%, DIIs 25.0%, Public 6.9%.Dec '24: Promoters 55.3%, FIIs 12.5%, DIIs 24.7%, Public 7.5%.Mar '25: Promoters 55.3%, FIIs 12.1%, DIIs 24.3%, Public 8.3%.Jun '25: Promoters 55.3%, FIIs 12.4%, DIIs 24.3%, Public 8.0%.Sep '25: Promoters 55.3%, FIIs 12.8%, DIIs 23.8%, Public 8.0%.Dec '25: Promoters 55.3%, FIIs 13.5%, DIIs 23.4%, Public 7.8%.Mar '26: Promoters 55.3%, FIIs 13.7%, DIIs 22.3%, Public 8.6%.Jun '26: Promoters 55.3%, FIIs 14.1%, DIIs 22.3%, Public 8.3%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Government Pension Fund Global Sovereign +0.54 pp 2.99% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Ahluwalia Contracts (India) Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Sudershan Walia | 30.53% | unchanged |
| Bikramjit Ahluwalia | 16.34% | unchanged |
| SBI Small Cap Fund Mutual fund | 8.51% | unchanged |
| Shobhit Uppal | 6.43% | unchanged |
| Nalanda India Equity Fund Limited FPI fund | 5.49% | unchanged |
| Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Small Cap Fund Mutual fund | 4.81% | unchanged |
| DSP ELSS Tax Saver Fund Mutual fund | 3.64% | unchanged |
| Government Pension Fund Global Sovereign | 2.99% | +0.54 pp |
| Nalanda India Fund Limited FPI fund | 2.48% | unchanged |
| Rachna Uppal | 1.83% | unchanged |
| Canara Robeco Mutual Fund A/C Canara Robeco Large And Mid Cap Fund Mutual fund | 1.29% | unchanged |
| Mukta Ahluwalia | 0.05% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in AHLUCONT
Filings to Aug 2026
0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).
- Held by funds
- ₹377 Cr
- 3 schemes
- Biggest holder
- SBI Smallcap Fund
- ₹279 Cr · 0.7% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Smallcap Fund SBI Mutual Fund | ₹279 Cr | held | Aug '21 |
| SBI Infrastructure Fund SBI Mutual Fund | ₹74 Cr | held | Aug '21 |
| HDFC Infrastructure Fund HDFC Mutual Fund | ₹24 Cr | held | Feb '25 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
0 added, 0 trimmed — net 0 shares (+0.0%)
- Funds are sitting on
- +62%
- vs est. average cost
- Held by funds
- ₹377 Cr
- 3 schemes · ≈ 11% of the company
- Biggest holder
- SBI Smallcap Fund
- ₹279 Cr · 0.7% of that fund
Shares held by these funds +19%
Aug '23 59.95 L shares Jul '26
All earnings calls (8)
Read the Q1 FY27 call →Learn to analyse Ahluwalia Contracts (India) Limited
Guides on how to read this kind of business and the numbers that matter.