Interim report
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Ashoka Buildcon Limited Regd. Office: S. No. 861, Ashoka House, Ashoka Marg, Vadala, Nasik – 422 011, Maharashtra, India Tel. + 91 253 6633705 Fax +91 253 2236704 www.ashokabuildcon.com CIN: L45200MH1993PLC071970 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 Scrip Code: Equity: 533271 Scrip Symbol: ASHOKA Debt Codes: CPs –730851/731112/731435/731487/732069/732127; and NCDs - 976190 / 976191 / 976192 August 11, 2026 Dear Sir/ Madam, Sub: Outcome of the Board Meeting under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI LODR’) Pursuant to Regulations 30, 33 and 52 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, (“SEBI LODR”) the outcome of meeting of the Board of Directors held In -Person at 807, 8th floor, the Capital, Bandra Kurla Complex, Bandra, Mumbai– 400 051 on Tuesday, August 11,2026, which was commenced at 3.30 p.m. and concluded at 6.30 p.m. is as follows. The Board of Directors has inter alia considered and approved the following items viz. 1. The Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026, pursuant to Regulations 33 & 52 of the SEBI (LODR) Regulations, 2015 along with the Limited Review Reports issued by the Statutory Auditors, which have been du ly reviewed and recommended by the Audit Committee. The Unaudited Standalone & Consolidated Financial Results will be made available on the Company’s website www.ashokabuildcon.com; and 2. Re-designation of Mr. Sanjay Prabhakar Londhe (DIN:00112604) and Mr. Ashish Ashok Kataria (DIN:00580763) from Whole-time Directors to Joint Managing Directors w.e.f . August 11, 2026 for the remaining period of their existing tenure i.e. up to March 31, 2028 and March 31, 2027 respectively, subject to approval of the shareholders of the Company at the ensuing General Meeting or Postal ballot. Please take the same on your records. Yours faithfully, For Ashoka Buildcon Limited (Manoj A. Kulkarni) Company Secretary ICSI Membership No.: FCS – 7377
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Ashoka Buildcon Limited Regd. Office: S. No. 861, Ashoka House, Ashoka Marg, Vadala, Nasik – 422 011, Maharashtra, India Tel. + 91 253 6633705 Fax +91 253 2236704 www.ashokabuildcon.com CIN: L45200MH1993PLC071970 Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 updated January 30, 2026 Mr. Sanjay Prabhakar Londhe (DIN: 00112604) Reason for change viz. appointment, re- appointment, resignation, removal, death, or otherwise The Board of Directors at its meeting held today, i.e. Tuesday, August 11, 2026, basis recommendation of the Nomination and Remuneration Committee, approved the re- designation of Mr. Sanjay Prabhakar Londhe (DIN:00112604) from Whole-time Director to Joint Managing Director with immediate effect, for the remaining period of his existing tenure i.e. up to March 31, 2028 , subject to approval of the shareholders of the Company. Date of appointment, re-appointment, cessation (as applicable) & term of appointment / re-appointment Re-designated as Joint Managing Director w.e.f. August 11, 2026, for the remaining period of his existing tenure i.e. up to March 31, 2028 on existing terms and conditions, subject to revision of remuneration payable. Brief profile (in case of appointment) Mr. Sanjay Londhe is Director at Ashoka Buildcon Limited, with over 41 years of experience in the infrastructure and construction industry. A Civil Engineering graduate with FIE, he joined Ashoka in 1989 and has played a pivotal role in the Company's growth from its early years into one of India's leading infrastructure developers. He currently leads the Company's project execution functions, overseeing the delivery of highways, bridges, expressways and other complex infrastructure projects across India and overseas. During his career, he has led the execution of over 16,000 lane kilometres of highways, including several landmark projects such as: India's first 8 -lane Extra -Dosed Cable - Stayed Bridge across the River Narmada; the Eastern Peripheral Expressway; the Indore–Edlabad Highway; the Roopnarayan Bridges;
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Ashoka Buildcon Limited Regd. Office: S. No. 861, Ashoka House, Ashoka Marg, Vadala, Nasik – 422 011, Maharashtra, India Tel. + 91 253 6633705 Fax +91 253 2236704 www.ashokabuildcon.com CIN: L45200MH1993PLC071970 the Mopa Airport Elevated Corridor in Goa; and International projects in the Republic of Maldives. Mr. Londhe has been recognised with several prestigious honours, including CEO of the Year (Construction Times, 2017) , Engineer of the Year (Federation of Engineering Institutions of Asia & Pacific, 2014) , and Honorary Fellowships from the Federation of Engineering Institutions of Asia & Pacific (FEIAP) and The Institution of Engineers (India). He actively contributes to the engineering profession through leadership roles with the National Safety Council, the Confederation of Indian Industry (CII), and The Institution of Engineers (India), while also supporting educational and community developme nt initiatives. Disclosure of relationship between Directors (in case of appointment of a director) Not Applicable Information as required under BSE circular no. LIST/COMP/14/2018-19 and NSE circular no. NSE/CML/2018/24, dated June 20, 2018 Mr. Sanjay Prabhakar Londhe is not debarred from holding the office of Director by virtue of any SEBI order or any other such authority.
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Ashoka Buildcon Limited Regd. Office: S. No. 861, Ashoka House, Ashoka Marg, Vadala, Nasik – 422 011, Maharashtra, India Tel. + 91 253 6633705 Fax +91 253 2236704 www.ashokabuildcon.com CIN: L45200MH1993PLC071970 Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 updated January 30, 2026 Mr. Ashish Ashok Kataria (DIN: 00580763) Reason for change viz. appointment, re- appointment, resignation, removal, death, or otherwise The Board of Directors at its meeting held today, i.e. Tuesday, August 11, 2026, basis recommendation of the Nomination and Remuneration Committee, approved the re-designation of Mr. Ashish Ashok Kataria (DIN:00580763) from Whole-time Director to Joint Managing Director with immediate effect, for the remaining period of his existing tenure i.e. upto March 31, 2027, subject to approval of the shareholders of the Company. Date of appointment, re-appointment, cessation (as applicable) & term of appointment / re-appointment. Re-designated as Joint Managing Director w.e.f. August 11, 2026, for the remaining period of his existing tenure i.e. up to March 31, 2027 on existing terms and conditions, subject to revision of remuneration payable. Brief profile (in case of appointment) Mr. Ashish Kataria is a Promoter and Director of Ashoka Buildcon Limited (ABL), He joined ABL in 2002 and played a significant role in driving the company's strategic growth and diversification across highways, bridges, power transmission & distribution, railways, oil & gas projects in India and overseas. Under his leadership, the Company has strengthened its presence in both domestic and international markets while pursuing sustainable business expansion through strategic investments, mergers & acquisitions, and business development initiatives. He has bee n instrumental in expanding Ashoka Buildcon’s global footprint across globe, including projects in Maldives, Bangladesh, Guyana (South America), Benin, Angola & Liberia in Africa and Kingdom of Saudi Arabia. Mr. Kataria has played a pivotal role in securing strategic investments for the Group. He was instrumental in facilitating the
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Ashoka Buildcon Limited Regd. Office: S. No. 861, Ashoka House, Ashoka Marg, Vadala, Nasik – 422 011, Maharashtra, India Tel. + 91 253 6633705 Fax +91 253 2236704 www.ashokabuildcon.com CIN: L45200MH1993PLC071970 investment by the infrastructure fund managed by SBI Macquarie into Ashoka Concessions Limited, equivalent to USD 150 million. He also spearheaded the Group's entry into the City Gas Distribution business and successfully secured investment from Morgan Stanley, culminating in the successful monetization of the business through a 100% stake sale. Mr. Kataria is actively associated with several professional and industry organizations. He serves as a Member of the India -Africa Committee of the Confederation of Indian Industry (CII), is a Member of the Young Presidents' Organization (YPO), a Fellow Member of the Institution of Engineers (India), and is associated with the Association of Consulting Civil Engineers and the Indian Road Congress. He has completed his Bachelor’s in Civil Engineering, Masters in Construction Management and Master of Business Administration. He is also pursuing Owner/President Management Course from Harvard Business School. Disclosure of relationship between Directors (in case of appointment of a director) Mr. Ashish Ashok Kataria is son of Mr. Ashok Motilal Katariya, Whole-time Director designated as Chairman of the Company. Information as required under BSE circular no. LIST/COMP/14/2018-19 and NSE circular no. NSE/CML/2018/24, dated June 20, 2018 Mr. Ashish Ashok Kataria is not debarred from holding the office of Director by virtue of any SEBI order or any other such authority.
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Ashoka Buildcon Limited Regd. Office: S. No. 861, Ashoka House, Ashoka Marg, Vadala, Nashik – 422 011, Maharashtra, India Tel. + 91 253 6633705Fax +91 253 2236704 www.ashokabuildcon.com CIN: L45200MH1993PLC071970 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 Scrip Code: Equity: 533271 Scrip Symbol: ASHOKA Debt Codes: CPs –730851/731112/731435/731487/732069/732127; and NCDs - 976190 / 976191 / 976192 August 11, 2026 Sub: Submission of Financial Results – quarter ended June 30, 2026 We enclose herewith the unaudited standalone and consolidated financial results (“the statements”) for the quarter ended June 30, 2026, along with Audit Reports issued by M/s SRBC & Co. LLP, statutory auditors of the Company, which have been reviewed and recommended by the Audit Committee and approved and taken on record by the Board of Directors. We would like to further state that M/s S R B C & CO LLP, statutory auditors of the Company have iss ued Limited Review Reports on Standalone and Consolidated Financial Results with an unmodified conclusion. This disclosure is pursuant to Regulations 30, 33 and 52 of the SEBI LODR, 2015. Kindly take the matter on your record. Thanking you, For Ashoka Buildcon Limited (Manoj A. Kulkarni) Company Secretary ICSI Membership No.: FCS - 7377 Encl.: As above
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12th Floor, The Ruby 29 Senapati Bapat Marg Dadar (West) Mumbai - 400 028, India Tel: +91 22 6819 8000 Chartered Accountants S R B C & CO LLP, a Limited Liability Partnership with LLP Identity No. AAB-4318 Regd. Office : 22, Camac Street, Block ‘B’, 3rd Floor, Kolkata-700 016 Independent Auditor’s Review Report on the Quarterly Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Ashoka Buildcon Limited 1. We have reviewed the accompanying statement of unaudited standalone financial results of Ashoka Buildcon Limited (the “Company”) for the quarter ended June 30, 202 6 (the “Statement”) attached herewith, being submitted by the Company pursuant to the requirements of Regulation33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”). 2. The Company’s Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 and 52 of the Listing Regulations. The Statement has been approved by the Compa ny’s Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consi sts of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards (‘Ind AS’) specified under Section 133 of the Companies Act,2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 5. We draw attention to Note 4 to the accompanying Statement, regarding an ongoing regulatory matter which is sub-judice before Ld. Court of Special Judge, CBI, Bihar, involving inter-alia the Company, pending final outcome of which no adjustments have been made to the Statement. Our conclusion is not modified in respect of this matter. For S R B C & CO LLP Chartered Accountants ICAI Firm registration number: 324982E/E300003 per Pramod Kumar Bapna Partner Membership No.: 105497 UDIN: 26105497UWNDRY9474 Place: Mumbai Date: August 11, 2026
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(₹ in Lakhs except Earnings per share) Year Ended 30-Jun-26 31-Mar-26 30-Jun-25 31-Mar-26 Unaudited Audited (Refer Note 2) Unaudited Audited 1,28,787.65 1,77,187.46 1,31,063.91 5,81,165.66 3,256.57 4,669.11 2,847.75 14,054.62 1,32,044.22 1,81,856.57 1,33,911.66 5,95,220.28 38,315.72 51,619.64 46,451.00 1,82,132.06 69,432.64 99,382.40 61,457.55 3,03,180.61 6,123.50 6,089.93 5,689.77 23,004.69 6,024.59 6,838.00 8,405.43 31,297.21 2,232.41 2,452.75 2,336.00 9,785.18 5,619.68 7,947.31 5,243.63 23,292.06 1,27,748.54 1,74,330.03 1,29,583.38 5,72,691.81 4,295.68 7,526.54 4,328.28 22,528.47 - - - 16,472.46 5.36 1.05 4.87 16.71 4,301.04 7,527.59 4,333.15 39,017.64 1,598.71 3,310.08 1,562.00 10,462.87 (451.36) (668.05) (291.00) (3,488.88) 1,147.35 2,642.03 1,271.00 6,973.99 3,153.69 4,885.56 3,062.15 32,043.65 63.42 193.95 (10.91) 253.70 (16.25) (49.70) 2.80 (65.01) 47.17 144.25 (8.11) 188.69 3,200.86 5,029.81 3,054.04 32,232.34 14,036.16 14,036.16 14,036.16 14,036.16 4,19,136.49 1.12 1.74 1.09 11.41 1.12 1.74 1.09 6.39 # Not annualised except for the year ended March 31, 2026 A. With Exceptional Items B. Without Exceptional Items and related tax Basic & Diluted VI Profit before Exceptional Items and Tax (III-V) VIII Share of Profit from Partnership Firms Other comprehensive income / (loss) (net of tax) (i+ii) Basic & Diluted XIII Total Comprehensive Income for the Period / Year (XI+XII) (ii) Income tax relating to items that will not be reclassified to profit or loss Paid-up equity share capital (equity shares of Face Value of ` 5/- each) XIV Earnings per equity share # (Face Value of ` 5/- each) : Other Equity (i) Items that will not be reclassified to profit or loss VII Exceptional Items (net) (Refer Note 5) Total tax expenses IX Profit before Tax (VI+VII+VIII) (1) Current tax (2) Deferred tax charge / (credit) XII Other Comprehensive Income / (Loss) X Tax expenses : V Total expenses XI Profit after tax (IX-X) I Revenue from Operations Construction Expenses Employee Benefit Expenses ASHOKA BUILDCON LIMITED Registered Office: S.No. 861, Ashoka House, Ashoka Marg, Nashik 422011 CIN : L45200MH1993PLC071970 UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2026 Other expenses IV Expenses Cost of Materials Consumed Particulars Finance costs Depreciation and amortisation expense II Other Income III Total Income (I+II) Quarter Ended
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ASHOKA BUILDCON LIMITED Registered Office: S.No. 861, Ashoka House, Ashoka Marg, Nashik 422011 CIN : L45200MH1993PLC071970 Year Ended 30-Jun-26 31-Mar-26 30-Jun-25 31-Mar-26 Unaudited Audited (Refer Note 2) Unaudited Audited 1 Debt-Equity Ratio (Total Borrowings (Current Borrowings + Non Current Borrowings + Lease liabilities) / Total Equity 0.49 0.49 0.59 0.49 2 Debt Service Coverage Ratio # (Earnings for debt service / Debt service) (Earnings for debt service = Profit before Exceptional Item and tax + Depreciation and amortisation expense + Interest on Loans + Interest on Lease Liabilities) (Debt Service = Interest on Loans + Interest on Lease Liabilities + Repayment of Non Current Borrowings (Including Current Maturities of Term Loans) for the period) 0.94 0.79 0.84 0.84 3 Interest Service Coverage Ratio ((Profit before Exceptional Item and tax + Finance costs + Deprecation and amortisation expense) / Finance costs) 2.08 2.46 1.79 2.03 4 Total Equity (₹ in Lakhs) 4,36,373.51 4,33,172.65 4,03,994.35 4,33,172.65 5 Current Ratio (Total Current Assets / Total Current Liabilities) 2.19 2.15 1.73 2.15 6 Long Term Debt to Working Capital (Non Current Borrowings (Including Current Maturities of Term Loans) / Working capital (Total Current Assets - Total Current Liabilities)) 0.33 0.33 0.32 0.33 7 Bad Debts to Account Receivable Ratio (Bad Debts / Average Trade receivables) 0.00 0.00 0.00 0.00 8 Current Liability Ratio (Total Current Liabilities / Total Liabilities) 0.61 0.62 0.68 0.62 9 Total Debts to Total Assets Ratio ((Total Borrowings (Current Borrowings + Non Current Borrowings)) / Total Assets) 0.24 0.23 0.25 0.23 10 Debtors' turnover ratio # (Revenue from Operations / Average Trade receivable ((Opening Trade receivables and Contract Assets + Closing Trade receivables and Contract Assets) / 2)) 0.27 0.38 0.30 1.28 11 Inventory turnover ratio # (Cost of Materials Consumed / Average Inventory ((Opening inventory + Closing inventory) / 2)) 1.51 1.99 1.45 6.11 12 Operating Margin (%) (Profit before Exceptional Item and tax + Finance costs + Deprecation and amortisation expense - Other Income / Revenue from Operations) 7.22% 6.86% 9.33% 8.53% 13 Net Profit Margin (%) (Profit after tax for the period / Revenue from Operations) 2.45% 2.76% 2.34% 5.51% 14 Outstanding Redeemable Preference Shares - - - - 15 Capital Redemption Reserve - - - - 16 Debenture Redemption Reserve - - - - 17 Net Worth (as per Companies Act, 2013) (₹ in Lakhs) 4,36,373.51 4,33,172.65 4,03,994.35 4,33,172.65 # Not annualised except for the year ended March 31, 2026 ParticularsSr. No. Additional information pursuant to Regulation 52 (4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended as at and for the quarter ended June 30, 2026 Quarter Ended For the purpose of computing above ratios, assets / liabilities included under 'held for sale' as at the respective period end have been considered in the respective accounting captions, wherever applicable.
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ASHOKA BUILDCON LIMITED Registered Office: S.No. 861, Ashoka House, Ashoka Marg, Nashik 422011 CIN : L45200MH1993PLC071970 ₹ in Lakhs 11,212.99 9,532.28 (3,749.54) (523.27) 16,472.46 For & on behalf of the Board of Directors (Satish D Parakh) Place: Mumbai Managing Director Date: August 11, 2026 DIN : 00112324 7. The Company’s subsidiary, Ashoka Purestudy Technologies Private Limited (‘APTPL’), in which the Company held a 59% equity stake, allotted 29,879 fully paid-up equity shares of ₹10/- each at par on a preferential allotment basis to a new investor on June 12, 2026. Consequently, the Company’s shareholding was reduced to 39.33%, and APTPL ceased to be a subsidiary and became an associate of the Company. 6. The Company and its subsidiary Ashoka Concessions Limited ('ACL') had executed the share subscription and purchase agreements and other transaction documents for divestment of their entire stake in certain subsidiaries (completed projects), engaged in construction and operation of Road Projects on Hybrid Annuity Mode (HAM) basis awarded by National Highway Authority of India ('NHAI'). Considering the high probability of the sale transactions getting completed, for the five HAM subsidiaries as per Ind AS 105, the investments made, loans given to these subsidiaries and related current assets / liabilities have been classified as held for sale. Besides the above, the Company is also in the process of divesting its 100% stake in GVR Ashoka Chennai ORR Limited, the investments made, loans given and related current assets/liabilities of which are also classified as held for sale. 1. The above unaudited standalone financial results of Ashoka Buildcon Limited ('the Company') have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on August 11, 2026. 3. As permitted by paragraph 4 of Ind AS 108, "Operating Segments", notified under section 133 of the Companies Act, 2013, read together with the relevant rules issued thereunder, if a single financial report contains both consolidated financial results and the separate financial results of the parent, segment information need to be presented only on the basis of the consolidated financial results. Thus, disclosure required by Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 (as amended) on segment wise revenue results and capital employed are given in the consolidated financial results. 2. Figures for the quarter ended March 31, 2026 are balancing figures between audited figures in respect of full financial year and the unaudited figures up to the third quarter ended December 31, 2025 of that financial year which were subjected to limited review. Notes: Particulars Gain on sale of stake in BOT / HAM subsidiaries Write back of excess provision of investor obligation upon purchase of investor stake in subsidiary company Impairment on loan given to certain subsidiaries Recognition of past service cost on gratuity and leave encashment upon implementation of the new labour codes 4. Pursuant to the first information report filed by a law enforcement agency (‘CBI’) in earlier year alleging bribery of certain NHAI officials by Company personnel for providing undue advantage to the aforesaid persons and the Company with respect to a project executed in Bihar, on February 28, 2025, the Company has received the final chargesheet dated February 15, 2024 from the Ld. Court of Special Judge, CBI, Bihar (‘Ld. Court’) whereby the Company has been arraigned in the matter primarily for alleged non-completion / deviation in the executed work and minor irregularities in quality of work during the period from April 2021 to August 2022. As of June 30, 2026, the execution of the said project has been completed and the Company has received the completion certificate from NHAI. The management believes that the Company has adhered to the contractual obligations and is of view that there would not be any material impact on the financial results in this regard. Further, the Company has filled a writ petition dated May 11, 2026 with the High Court of Judicature at Patna for quashing of the allegations made against the Company in the chargesheet on the ground that there is no evidence linking the Company to the bribery and the case is based on unreliable evidences. As the matter is sub-judice, pending outcome of the same with the Ld. Court of Special Judge, CBI, Bihar, no adjustments have been made to the financial results. 5. Exceptional items for the year ended March 31, 2026 comprise of following : Total
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12th Floor, The Ruby 29 Senapati Bapat Marg Dadar (West) Mumbai - 400 028, India Tel: +91 22 6819 8000 Chartered Accountants S R B C & CO LLP, a Limited Liability Partnership with LLP Identity No. AAB-4318 Regd. Office : 22, Camac Street, Block ‘B’, 3rd Floor, Kolkata-700 016 Independent Auditor’s Review Report on the Quarterly Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Ashoka Buildcon Limited 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Ashoka Buildcon Limited (the “Holding Company”) and its subsidiaries (the Holding Company and its subsidiaries together referred to as “the Group”), its associates and joint ventures for the quarter ended June 30, 2026 (the “Statement”) attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”). 2. The Holding Company’s Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 and 52 of the Listing Regulations. The Statement has been approved by t he Holding Company’s Board of Directors . Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing an d consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the Master Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the entities mentioned in Annexure 1. 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards (‘Ind AS’) specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules is sued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. We draw attention to Note 4 to the accompanying Statement, regarding an ongoing regulatory matter which is sub - judice before Ld. Court of Special Judge, CBI, Bihar, involving inter-alia the Holding Company, pending final outcome of which no adjustments have been made to the Statement. Our conclusion is not modified in respect of this matter. 7. The accompanying Statement includes the unaudited interim financial results and other unaudited financial information, in respect of: 56 subsidiaries, whose unaudited interim financial results and other unaudited financial information include total revenues of Rs. 37,023.83 lakhs, total net profit after tax of Rs.7,393.52 lakhs and total comprehensive income of Rs. 6,915.14 lakhs for the quarter ended June 30, 2026, as considered in the Statement which have been reviewed by their respective independent auditors. 3 associates and 2 joint ventures, whose unaudited interim financial results and other unaudited financial information include Group’s share of netloss of Rs. 16.94 lakhs and Group’s share of total comprehensiveloss of Rs. 16.48 lakhs for the quarter ended June 30, 2026, as considered in the Statement whose interim financial results and other financial information have been reviewed by their respective independent auditors.
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Chartered Accountants Ashoka Buildcon Limited Page 2 of 4 The independent auditor’s reports on unaudited interim financial results andother unaudited financial information of these entities have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of these subsidiaries, joint ventures and associate s is based solely on the report of such auditors and procedures performed by us as stated in paragraph 3 above. 8. The accompanying Statement includes unaudited interim financial results and other unaudited financial information in respect of: 2 associates and 3 joint ventures, whose unaudited interim financial results and other unaudited financial information includes the Group’s share of net profit of Rs. 23.36 lakhs and Group’s share of total comprehensive income of Rs. 23.36 lakhs for the quarter ended June 30, 2026. The unaudited interim financial results and other unaudited financial information of these joint ventures and associates have not been reviewed by any auditor and have been approved and furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the affairs of these joint ventures and associates, is based solely on such unaudited interim financial results and other unaudited financial information. According to the information and explanations given to us by the Management, these interim financial results are not material to the Group. 9. Our conclusion on the Statement in respect of matters stated in paragraph 7 and 8 above is not modified with respect to our reliance on the work done and the reports of the other auditors and the financial results/financial information certified by the Management. For S R B C & CO LLP Chartered Accountants ICAI Firm registration number: 324982E/E300003 per Pramod Kumar Bapna Partner Membership No: 105497 UDIN: 26105497AKZKDC1938 Place: Mumbai Date: August 11, 2026
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Chartered Accountants Ashoka Buildcon Limited Page 3 of 4 Annexure 1 to the Independent Auditor’s Review Report on the Quarterly Unaudited Consolidated FinancialResults of the Company pursuant to the Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Holding Company: 1) Ashoka Buildcon Limited Subsidiaries: 1) Ashoka Concessions Limited 2) Jaora-Nayagaon Toll Road Company Private Limited 3) Ashoka-DSC Katni Bypass Road Limited 4) Ashoka Infrastructures 5) Ashoka Highway Ad 6) Ashoka Mudhol Nipani Roads Limited 7) Ashoka Bagewadi Saundatti Road Limited 8) Ashoka Hungund Talikot Road Limited 9) Ashoka Mallasandra Karadi Road Private Limited 10) Ashoka Karadi Banwara Road Private Limited 11) Ashoka Belgaum Khanapur Road Private Limited 12) Ashoka Bettadahalli Shivamogga Road Private Limited 13) Ashoka Banwara Bettadahalli Road Private Limited 14) Ashoka Purestudy Technologies Private Limited (up to June 11, 2026) 15) Viva Highways Limited 16) Ashoka Infraways Limited 17) Ashoka Infrastructure Limited 18) Viva Infrastructure Limited 19) Ashoka Precon Private Limited 20) Ashoka Solar Energy Private Limited (Formerly known as “Ashoka Auriga Technologies Private Limited”) 21) Ashoka Highway Research Centre Private Limited 22) Ashoka Concrete Private Limited (Formerly known as “Ashoka Aerospace Private Limited”) 23) Unique Hybrid Renewables Energy Private Limited (Formerly known as “Ratnagiri Natural Gas Private Limited”) 24) Blue Feather Infotech Private Limited 25) Endurance Road Developers Private Limited 26) Ashoka Path Nirman (Nashik) Private Limited 27) Tech Breater Private Limited 28) A.P. Techno Horizon Private Limited (up to June 11, 2026) 29) Ashoka Baswantpur Singnodi Road Private Limited 30) Ashoka Akshaya Infraways Private Limited 31) Ashoka Buildcon (Guyana) INC 32) GVR Ashoka Chennai ORR Limited 33) Unique Hytech Renewable Energy Private Limited 34) Unique Hybrid Global Renewable Energy Private Limited 35) Unique Hyport Renewable Energy Private Limited 36) Ashoka Buildcon Limited for Contracting Company 37) Prakashmaan Renewable Energy Private Limited 38) Unique Vidyutsutra Renewable Energy Private Limited 39) Prakashmitra Solar Private Limited 40) Ashoka Bowaichandi Guskara Road Private Limited 41) Ashoka Akshaya Project Private Limited 42) Ashoka Rajasthan Renewable Energy 1 Private Limited 43) Ashoka Renewable Energy 1 Private Limited 44) Ashoka Renewable Energy 3 Private Limited 45) Ashoka Renewable Energy 2 Private Limited 46) Ashoka Renewable Energy 4 Private Limited 47) Ashoka Renewable Energy 5 Private Limited 48) Unique Hybrid Renewable Energy 1 Private Limited 49) Unique Hybrid Renewable Energy 2 Private Limited 50) Unique Hybrid Renewable Energy 3 Private Limited 51) Unique Hybrid Renewable Energy 4 Private Limited 52) Unique Hybrid Renewable Energy 5 Private Limited
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Chartered Accountants Ashoka Buildcon Limited Page 4 of 4 53) Unique Hybrid Renewable Energy 6 Private Limited 54) Unique Hybrid Renewable Energy 7 Private Limited 55) Unique Hybrid Renewable Energy 8 Private Limited 56) Unique Hybrid Renewable Energy 9 Private Limited 57) Unique Hybrid Renewable Energy 10 Private Limited Joint Ventures: 1) Mohan Mutha Ashoka Buildcon LLP 2) Ashoka Bridgeways 3) Cube Ashoka Joint Venture 4) Abhijeet Ashoka Infrastructure Private Limited 5) BEC Arabia Contracting Co. and Ashoka Buildcon Limited Contracting (w.e.f. April 14, 2026) Associates: 1) PNG Tollway Limited 2) Dyanamicx Ropeway Private Limited 3) MRDP-lll Development Limited 4) Ashoka Purestudy Technologies Private Limited (w.e.f. June 12, 2026) 5) A.P. Techno Horizon Private Limited (w.e.f. June 12, 2026)
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Year Ended 30-Jun-26 31-Mar-26 30-Jun-25 31-Mar-26 Unaudited Audited (Refer Note 2) Unaudited Audited 1,49,960.51 1,95,430.31 1,88,706.72 7,51,988.39 3,411.20 3,803.04 4,993.95 18,368.51 1,53,371.71 1,99,233.35 1,93,700.67 7,70,356.90 37,380.74 52,756.88 46,714.04 1,87,423.41 69,515.81 96,063.88 65,347.83 3,04,157.60 10,109.69 10,388.89 10,553.69 41,576.22 8,335.86 8,241.91 31,132.37 91,194.96 3,577.54 4,089.30 3,796.52 16,063.53 7,165.80 9,875.23 6,225.62 30,597.05 1,36,085.44 1,81,416.09 1,63,770.07 6,71,012.77 17,286.27 17,817.26 29,930.60 99,344.13 (6.60) (530.76) 26.14 (476.68) 17,279.67 17,286.50 29,956.74 98,867.45 VIII Exceptional Items (net) (Refer Note 5) - (1,333.65) - 2,14,367.03 17,279.67 15,952.85 29,956.74 3,13,234.48 4,061.48 4,153.65 5,198.04 20,985.09 74.88 (34.80) - 139.96 426.07 (2,846.72) 2,069.55 34,529.24 4,562.43 1,272.13 7,267.59 55,654.29 12,717.24 14,680.72 22,689.15 2,57,580.19 66.67 319.06 (18.57) 558.00 (16.57) (52.22) 2.60 (66.62) (479.32) 146.60 - 146.60 - - - - (429.22) 413.44 (15.97) 637.98 12,288.02 15,094.16 22,673.18 2,58,218.17 Profit / (Loss) for the period / year attributable to: Owners of the Group 12,777.41 14,314.37 21,739.32 2,55,001.00 Non-Controlling interests (60.17) 366.35 949.83 2,579.19 Other Comprehensive Income/ (loss) for the period / year attributable to : Owners of the Group (429.74) 409.34 (15.71) 636.52 Non-Controlling interests 0.52 4.10 (0.26) 1.46 Total Comprehensive Income/(Loss) for the period / year attributable to : Owners of the Group 12,347.67 14,723.71 21,723.60 2,55,637.52 Non-Controlling interests (59.65) 370.45 949.58 2,580.65 14,036.16 14,036.16 14,036.16 14,036.16 Other Equity 6,43,891.82 4.55 5.10 7.74 90.84 4.55 5.51 7.74 25.37 # Not annualised except for the year ended March 31, 2026 (ii) Income tax relating to items that will not be reclassified to profit or loss Total expenses (IV) V Profit before share of profit /(loss) of joint ventures and associate and tax (III-IV) X Tax expense Basic & Diluted XIV Earnings per equity share # (Face Value of ₹5/- each) : Paid -up equity share capital (equity shares of Face Value of ₹5/- each) XIII Total Comprehensive Income for the period / year (XI+XII) Other Comprehensive Income / (loss) (ii) Income tax relating to items that will be reclassified to profit or loss B (i) Items that will be reclassified to profit or loss ASHOKA BUILDCON LIMITED Registered Office: S.No. 861, Ashoka House, Ashoka Marg, Nashik 422011 CIN : L45200MH1993PLC071970 UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2026 (2) Tax expense relating to earlier years INCOME Other expenses I Revenue From Operations II Other Income Finance costs III Total Income (I+II) Construction expenses Employee benefit expenses Particulars IV EXPENSES Cost of materials consumed Total Tax Expenses Quarter Ended A (i) Items that will not be reclassified subsequently to profit or loss Depreciation and amortisation expenses IX Profit before Tax (VII+VIII) (1) Current tax VI Share of Profit/(Loss) from Partnership Firms, joint ventures and associates VII Profit before Exceptional Items and Tax (V+VI) XI Profit after tax (IX-X) XII Other Comprehensive Income / (loss) (3) Deferred tax charge / (credit) a) With Exceptional Items b) Without Exceptional Items and related tax Basic & Diluted
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ASHOKA BUILDCON LIMITED Registered Office: S.No. 861, Ashoka House, Ashoka Marg, Nashik 422011 CIN : L45200MH1993PLC071970 Year Ended 30-Jun-26 31-Mar-26 30-Jun-25 31-Mar-26 Unaudited Audited (Refer Note 2) Unaudited Audited 1 Debt-Equity Ratio (Total Borrowings (Current Borrowings + Non Current Borrowings) + Lease Liabilities / Total Equity) 0.44 0.45 1.85 0.45 2 Debt Service Coverage Ratio # (Earning for Debt Service / Debt service) (Earning for Debt Service = Profit before Exceptional Items and Tax + Depreciation and Amortisation Expenses + Interest on Loans + Interest on Lease Liabilities) (Debt Service = Interest on Loans + Interest on Lease Liabilities + Repayment of Non Current borrowings (Including Current Maturities of Term Loans) for the period) 1.94 2.79 1.22 1.46 3 Interest Service Coverage Ratio ((Profit before Exceptional Items and Tax + Finance Costs + Deprecation and Amortisation Expenses) / Finance Costs) 3.50 3.59 2.08 2.26 Outstanding Redeemable Preference Shares (Quantity) (No.of Shares) 64,81,250 64,81,250 64,81,250 64,81,250 (Value) ( in Lakhs) 6,236.81 6,236.81 6,236.81 6,236.81 5 Capital Redemption Reserve - - - - 6 Debenture Redemption Reserve - - - - 7 Total Equity ( in Lakhs) 6,70,547.82 6,57,611.35 4,38,607.11 6,57,611.35 8 Current Ratio (Total Current Assets / Total Current Liabilities) 2.48 2.23 1.23 2.23 9 Long Term Debt to Working Capital (Non Current Borrowings (Including Current Maturities of Term Loans) / Working Capital (Total Current Assets - Total Current Liabilities)) 0.38 0.33 1.93 0.33 10 Bad debts to Account Receivable Ratio (Bad Debts / Average Accounts Receivable ((Opening Trade receivable + Closing Trade receivable) / 2)) 0.00 0.01 0.00 0.01 11 Current Liability Ratio (Total Current Liabilities / Total Liabilities) 0.50 0.70 0.87 0.70 12 Total Debt to Total Asset Ratio ((Total Borrowings (Current Borrowings + Non Current Borrowings)) / Total Assets) 0.22 0.22 0.38 0.22 13 Debtors Turnover # (Revenue from Operations / Average Trade receivable ((Opening Trade receivables and Contract Assets + Closing Trade receivables and Contract Assets) / 2)) 0.27 0.37 0.43 1.51 14 Inventory turnover ratio # (Cost of Materials Consumed / Average Inventory ((Opening Inventory + Closing Inventory) / 2)) 0.84 1.16 0.90 3.83 15 Operating Margin (%) ((Profit before Exceptional Items and Tax + Finance Costs + Deprecation and Amortization Expenses - Other Income) / Revenue from Operations) 17.19% 13.21% 31.74% 24.97% 16 Net Profit Margin (%) (Profit after tax / Revenue from Operations) 8.48% 7.51% 12.02% 34.25% 17 Net Worth (as per Companies Act, 2013) (₹ in Lakhs) 6,62,940.38 6,50,162.97 4,16,228.70 6,50,162.97 # Not annualised except for the year ended March 31, 2026. 4 Sr. No. Quarter Ended Additional information pursuant to Regulation 52 (4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, as at and for the quarter ended June 30, 2026 For the purpose of computing above ratios, assets / liabilities included under 'held for sale' as at the respective period end have been considered in the respective accounting captions, wherever applicable. Particulars
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ASHOKA BUILDCON LIMITED Registered Office: S.No. 861, Ashoka House, Ashoka Marg, Nashik 422011 CIN : L45200MH1993PLC071970 1 2 3 4 5 (₹ in Lakhs) Quarter EndedYear Ended March 31, 2026March 31, 2026 Gain on sale of stake in BOT / HAM subsidiaries (1,342.79) 2,14,892.09 Recognition of past service cost on gratuity and leave encashment upon implementation of the new labour codes 9.14 (525.06) Total (1,333.65) 2,14,367.03 6 7 Figures for the quarter ended March 31, 2026 are balancing figures between audited figures in respect of full financial year and the unaudited figures up to the nine months ended December 31,2025 of the relevant financial year which were subjected to limited review. The Company and its subsidiary Ashoka Concessions Limited ('ACL') had executed the share subscription and purchase agreements and other transaction documents for divestment of their entire stake in certain subsidiaries (completed projects), engaged in construction and operation of Road Projects on Hybrid Annuity Mode (HAM) basis awarded by National Highway Authority of India ('NHAI'). Considering the high probability of the sale transactions getting completed, for five HAM subsidiary as per Ind AS 105, the assets and liabilities of these subsidiaries have been classified as held for sale. Besides the above, the Company is also in the process of divesting its 100% stake in GVR Ashoka Chennai ORR Limited, the assets and liabilities of which are also classified as held for sale. Pursuant to the first information report filed by a law enforcement agency (‘CBI’) in earlier year alleging bribery of certain NHAI officials by Company personnel for providing undue advantage to the aforesaid persons and the Company with respect to a project executed in Bihar, on February 28, 2025, the Company has received the final chargesheet dated February 15, 2024 from the Ld. Court of Special Judge, CBI, Bihar (‘Ld. Court’) whereby the Company has been arraigned in the matter primarily for alleged non-completion / deviation in the executed work and minor irregularities in quality of work during the period from April 2021 to August 2022. As of June 30, 2026, the execution of the said project has been completed and the Company has received the completion certificate from NHAI. The management believes that the Company has adhered to the contractual obligations and is of view that there would not be any material impact on the consolidated financial results in this regard. Further, the Company has filled a writ petition dated May 11, 2026 with the High Court of Judicature at Patna for quashing of the allegations made against the Company in the chargesheet on the ground that there is no evidence linking the Company to the bribery and the case is based on unreliable evidences. As the matter is sub-judice, pending outcome of the same with the Ld. Court of Special Judge, CBI, Bihar, no adjustments have been made to the consolidated financial results. As permitted by paragraph 4 of Ind AS 108, "Operating Segments", notified under section 133 of the Companies Act, 2013, read together with the relevant rules issued thereunder, if a single financial report contains both consolidated financial results and the separate financial results of the parent, segment information need to be presented only on the basis of the consolidated financial results. Thus, disclosure required by Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 (as amended) on segment wise revenue results and capital employed are given in the consolidated financial results. The unaudited consolidated financial results of Ashoka Buildcon Limited (the 'Company') and its subsidiaries (together referred to as 'Group') and its associates and joint ventures have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on August 11, 2026. Notes: Exceptional items comprise of following : Particulars The Holding Company’s subsidiary, Ashoka Purestudy Technologies Private Limited (‘APTPL’), in which the Group held a 59% equity stake, allotted 29,879 fully paid-up equity shares of ₹ 10/- each at par on a preferential allotment basis to a new investor on June 12, 2026. Consequently, the Group’s stake has reduced to 39.33%, and APTPL ceased to be a subsidiary and became an associate of the Group.
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ASHOKA BUILDCON LIMITED Registered Office: S.No. 861, Ashoka House, Ashoka Marg, Nashik 422011 CIN : L45200MH1993PLC071970 8 CONSOLIDATED SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED: Year Ended 30-Jun-26 31-Mar-26 30-Jun-25 31-Mar-26 Unaudited Audited (Refer Note 2)Unaudited Audited 1. Segment Revenue Construction & Contract 1,11,410.73 1,59,110.08 1,19,429.27 5,30,032.11 BOT / Annuity Projects 31,996.31 29,941.19 63,550.53 1,98,445.75 Sale of Goods 6,553.47 6,379.04 5,726.92 23,510.53 Total 1,49,960.51 1,95,430.31 1,88,706.72 7,51,988.39 2. Segment Results Construction & Contract 6,624.41 9,658.06 2,284.64 24,536.87 BOT / Annuity Projects 10,431.25 6,952.01 24,873.71 70,767.06 Sale of Goods 713.29 495.31 472.77 1,307.39 Total 17,768.95 17,105.38 27,631.12 96,611.32 3. Add / (Less): Unallocable Interest expenses (459.44) 1,292.77 (343.33) (2,336.73) Unallocable Expenses (2,179.44) (2,668.00) (1,910.90) (9,226.83) Unallocable Income (Including share of profit/(loss) from associate and joint ventures) 2,149.60 1,556.35 4,579.85 13,819.69 Exceptional Items (net) (Refer Note 5) - (1,333.65) - 2,14,367.03 Total (489.28) (1,152.53) 2,325.62 2,16,623.16 4. Profit before Tax 17,279.67 15,952.85 29,956.74 3,13,234.48 5.Segment Assets Construction & Contract 5,77,723.96 5,74,205.56 5,45,939.80 5,74,205.56 BOT / Annuity Projects 2,15,430.62 2,14,044.00 1,88,179.13 2,14,044.00 Sale of Goods 65,418.28 61,018.59 55,071.24 61,018.59 Unallocated 81,310.28 1,06,356.13 1,06,101.80 1,06,356.13 Assets Held for Sale (Refer Note 6) 3,58,556.34 3,49,390.32 12,08,472.55 3,49,390.32 Total 12,98,439.48 13,05,014.60 21,03,764.52 13,05,014.60 6.Segment Liabilities Construction & Contract 2,37,888.94 2,62,605.98 3,21,348.05 2,62,605.98 BOT / Annuity Projects 99,036.70 98,944.34 2,47,331.79 98,944.34 Sale of Goods 17,621.19 17,356.65 30,250.50 17,356.65 Unallocated 1,26,912.19 1,19,565.44 1,45,613.82 1,19,565.44 Liabilities Held for Sale (Refer Note 6) 1,46,432.64 1,48,930.84 9,20,613.25 1,48,930.84 Total 6,27,891.66 6,47,403.25 16,65,157.41 6,47,403.25 7. Capital Employed (Segment Assets (5) - Segment Liabilities (6) )6,70,547.82 6,57,611.35 4,38,607.11 6,57,611.35 Notes : b. Operating Segments of the Group are as below: i. “Construction & Contract ” includes Engineering, Procurement and Construction activity for Road, Rail, Power projects etc. ii. "BOT / Annuity Projects” includes business operation with respect to Toll collection and Hybrid Annuity road projects. iii. “Sale of Goods” primarily includes sale of Ready Mix Concrete and Real Estate. For & on behalf of the Board of Directors (Satish D Parakh) Place: Mumbai Managing Director Date: August 11, 2026 DIN : 00112324 a. The Group has reported segment information as per Indian Accounting Standard 108 "Operating Segments" (IND AS 108). Particulars Quarter Ended