Ashoka Buildcon Limited — Credit Ratings, 08-05-2025: Credit Rating

CRISIL has reaffirmed Ashoka Buildcon Limited’s long-term rating at CRISIL AA- with a negative outlook and short-term rating at CRISIL A1+. The ratings reflect the company’s strong project execution and an improving order book enhancing revenue visibility. Its financial risk profile remains adequate, backed by expected funding and subsidiary investments. However, significant working capital needs and exposure to industry cyclicality and competition contribute to the cautious outlook. The reaffirmation helps maintain competitive borrowing costs, supporting investor confidence and preserving strategic flexibility.