This Adani Group stock, which is engaged in providing design, engineering, procurement, and construction (EPC) services focused on infrastructure projects in India and overseas, is in focus after the company plans to increase its order book value and expects more opportunities from its new promoter Adani Group.
Share Price Movement
With a market capitalization of Rs. 8,981.05 Crores, the shares of ITD Cementation India Limited closed at Rs. 516.05 per share which is down by 0.47 percent from the previous close of Rs. 525.25 apiece. It has delivered a return of 46 percent which has outperformed the Nifty Index in the past year.
Adani Group Promoter stake purchase
Through Renew Exim DMCC, a Dubai-based affiliate of Adani Group had announced the acquisition of around 72.64 percent of the stake involving a 46.64 percent major promoter stake of Italian Thai Development Public Company Limited & the remaining ~26 percent stake through an open offer, totalling 72.64 percent majority stake. On 28th January 2025, Renew Exim DMCC received the Competition Commission of India (CCI) approval to acquire the proposed stake acquisition in ITD Cementation India.
Future Plans & Opportunity Expected from Adani Group
The company expects an order inflow of approximately Rs. 9,000 crore for FY25 and anticipates around Rs. 12,000 to 13,000 crore for FY26. It aims to maintain EBITDA margins at 9 to 10 percent. The company plans to explore inorganic expansion by entering new segments.
The new promoter (Adani Group) is set to create opportunities across sectors such as green energy, data centers, and roads. Additionally, the company sees strong potential in overseas markets, particularly in the Middle East, offering good opportunities.
Q3FY25 Financial Highlights
The company’s stock was in focus after reporting financial results for the quarter ending December 2024, ITD Cementation India consolidated revenue from operations has increased by 11.28 percent year on year from Rs. 2,017.16 crores in Q3FY24 to Rs. 2,244.86 crores in Q3FY25 and increased by 12.75 percent quarter on quarter from Rs. 1,990.87 crores in Q2FY25.
The consolidated net profit increased by 10.74 percent year on year from Rs. 78.59 crore in Q3FY24 to Rs. 87.04 crore in Q3FY25. As compared to Q2FY25, the company’s net profit has increased by 20.56 percent quarter on quarter from Rs. 72.19 crore.
Order Book Update
ITD Cementation India’s order book as of 31st December 2024 stood at Rs. 19,893 crore. They have secured orders worth Rs. ~6,370 crore in FY25 till date.
The major order secured for the Q3FY25 quarter was Near Shore Reclamation and Shore Protection for Greenfield Vadhvan Port at Dahanu in Maharashtra with a contract value of Rs. 1,648 crore and Multistoried commercial building in Uttar Pradesh with a contract value of Rs. 874 crore and others were was Rs. 874 crores, totaling Rs. 4,163 crores.
Business Segment through Orders
The clientele of the order book comprises 50 percent from Government, 42 percent from Private Sector, and the remaining 8 percent from PSU. A major part of the orders are focused on Maritime projects occupying 36.1 percent followed by Industrial structures and buildings with 23.3 percent respectively.
Company Overview & Revenue Guidance
ITD Cementation India was established in 1978, that specializes in heavy civil and EPC projects, including marine structures, mass rapid transit systems, and bridges. A subsidiary of Italian-Thai Development PCL earlier, that offers diverse engineering services and operates across India. As per the recent transcript available, the management expects the revenue to grow by 20 percent +/- for FY26.
Written By Santhosh S
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