Cemindia Projects Ltd

Cemindia Project Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Cemindia Projects Ltd

₹ 1,237 2.77%
10 Jun - close price
cemindia.co.in BSE: 509496 NSE: CEMPRO
About

Cemindia Projects Ltd. is engaged in the business of providing design, engineering, procurement and construction (EPC) services for infrastructure projects in India. [1]

Key Points

Company Background[1]
The company has over 90 years of experience in infrastructure construction and engineering. Since commencing operations in India in 1931, it has operated under multiple global promoters before becoming ITD Cementation India Ltd. in 2005. In May'25, an Adani Group entity acquired control of the company, which was subsequently rebranded as Cemindia Projects Ltd.[2]

Website BSE NSE
  • Market Cap ₹ 21,254 Cr.
  • Current Price ₹ 1,237
  • High / Low ₹ 1,257 / 481
  • Stock P/E 36.4
  • Book Value ₹ 139
  • Dividend Yield 0.24 %
  • ROCE 32.6 %
  • ROE 27.6 %
  • Face Value ₹ 1.00
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Pros

  • Company has delivered good profit growth of 111% CAGR over last 5 years

Cons

  • Stock is trading at 8.87 times its book value
  • Company's cost of borrowing seems high

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Construction Construction Civil Construction

Part of BSE 500 Nifty 500 Nifty500 Shariah BSE Industrials BSE 250 SmallCap Index

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
1,580 1,800 1,583 1,922 2,237 2,376 1,898 2,270 2,532 2,548 2,195 2,304 2,907
1,441 1,638 1,420 1,718 2,017 2,155 1,719 2,063 2,277 2,307 1,993 2,083 2,553
Operating Profit 139 162 164 204 220 222 179 207 255 242 202 221 354
OPM % 9% 9% 10% 11% 10% 9% 9% 9% 10% 9% 9% 10% 12%
6 9 5 12 20 15 22 10 16 13 41 23 92
Interest 50 50 50 57 57 53 57 59 62 50 53 50 61
Depreciation 29 44 52 55 54 49 46 45 51 41 43 43 39
Profit before tax 66 77 67 103 129 135 98 113 157 164 146 151 346
Tax % 43% 32% 20% 24% 31% 26% 27% 23% 28% 16% 26% 27% 31%
38 52 54 78 90 100 72 87 114 137 108 110 239
EPS in Rs 2.20 3.04 3.12 4.56 5.21 5.83 4.19 5.07 6.61 7.99 6.27 6.40 13.92
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Dec 2014 Dec 2015 Dec 2016 Dec 2017 Mar 2019 15m Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,313 2,576 2,917 1,873 2,288 2,142 2,208 3,250 4,675 7,542 9,246 9,983
1,238 2,417 2,706 1,614 2,019 1,838 2,003 2,949 4,255 6,792 8,384 8,966
Operating Profit 75 158 211 259 270 304 205 301 420 750 862 1,017
OPM % 6% 6% 7% 14% 12% 14% 9% 9% 9% 10% 9% 10%
102 -107 22 6 12 -39 9 9 26 46 77 176
Interest 120 115 89 86 78 92 111 132 160 215 236 215
Depreciation 29 25 46 55 70 120 83 95 108 204 194 166
Profit before tax 28 -89 99 124 134 53 19 82 177 377 508 812
Tax % 31% -33% 49% 41% 39% 19% 18% 16% 30% 27% 27% 27%
19 -59 51 73 82 43 16 69 124 274 373 594
EPS in Rs 1.25 -3.82 3.28 4.69 4.77 2.51 0.92 4.01 7.23 15.93 21.70 34.56
Dividend Payout % 0% 0% 9% 9% 8% 12% 13% 11% 10% 11% 9% 9%
Compounded Sales Growth
10 Years: 15%
5 Years: 35%
3 Years: 29%
TTM: 8%
Compounded Profit Growth
10 Years: 26%
5 Years: 111%
3 Years: 68%
TTM: 61%
Stock Price CAGR
10 Years: 25%
5 Years: 70%
3 Years: 97%
1 Year: 53%
Return on Equity
10 Years: 15%
5 Years: 19%
3 Years: 24%
Last Year: 28%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Dec 2014 Dec 2015 Dec 2016 Dec 2017 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 16 16 16 16 17 17 17 17 17 17 17 17
Reserves 552 493 537 602 1,004 1,035 1,049 1,114 1,220 1,477 1,816 2,378
671 488 356 489 220 356 445 560 766 889 993 1,001
681 1,183 941 1,117 780 1,244 1,354 1,654 2,874 3,437 3,026 3,572
Total Liabilities 1,920 2,180 1,849 2,223 2,021 2,653 2,865 3,346 4,878 5,820 5,852 6,969
283 293 382 406 432 534 539 604 812 1,057 1,077 1,168
CWIP 2 2 6 17 5 5 53 2 117 10 21 22
Investments 59 66 1 1 1 447 410 364 222 136 0 0
1,576 1,819 1,461 1,799 1,583 1,667 1,862 2,376 3,726 4,616 4,753 5,779
Total Assets 1,920 2,180 1,849 2,223 2,021 2,653 2,865 3,346 4,878 5,820 5,852 6,969

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Dec 2014 Dec 2015 Dec 2016 Dec 2017 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
34 449 325 -17 80 319 49 356 501 692 184 490
-20 -87 -19 -80 -98 -159 -109 -113 -437 -379 -233 -148
-9 -298 -222 42 -22 -38 -47 -34 31 -120 -218 -243
Net Cash Flow 5 64 84 -55 -40 121 -107 209 95 193 -267 100
Free Cash Flow 8 419 231 -112 -12 225 -79 255 89 349 12 264
CFO/OP 27% 297% 169% -8% 44% 116% 41% 138% 142% 102% 34% 64%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Dec 2014 Dec 2015 Dec 2016 Dec 2017 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 93 37 26 44 54 78 80 67 81 57 39 45
Inventory Days 747 550 61 80 75 98 156 117 125 86 73 83
Days Payable 282 395 337 344 210 238 309 244 265 176 232 240
Cash Conversion Cycle 557 192 -250 -220 -81 -62 -73 -60 -59 -33 -120 -111
Working Capital Days 25 -30 -35 -18 68 -33 -11 -31 -42 -28 -8 7
ROCE % 5% 13% 20% 24% 18% 14% 9% 13% 18% 27% 28% 33%

Insights

In beta
Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2019 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Dec 2025
Consolidated Order Book
₹ Cr

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Order Book Share - Maritime Structures
%
Order Inflows
₹ Cr
Active Operational Project Sites
Number
Tunnel Boring Machines (TBM)
Number

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Shareholding Pattern

Numbers in percentages

10 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
46.64% 46.64% 46.64% 46.64% 46.64% 46.64% 46.64% 46.64% 67.46% 67.46% 67.46% 67.46%
13.46% 14.42% 13.90% 17.08% 20.00% 20.99% 17.04% 13.95% 9.21% 8.36% 8.19% 7.31%
4.57% 3.38% 1.94% 1.82% 2.44% 2.32% 2.60% 6.14% 0.79% 0.72% 1.50% 1.94%
35.34% 35.56% 37.53% 34.46% 30.92% 30.06% 33.72% 33.28% 22.55% 23.45% 22.84% 23.28%
No. of Shareholders 57,19673,00576,05078,34786,9751,08,9881,07,3171,02,14092,68698,42294,80790,782

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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