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 36.1
  • Book Value ₹ 140
  • Dividend Yield 0.24 %
  • ROCE 32.8 %
  • ROE 27.8 %
  • Face Value ₹ 1.00
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Pros

  • Company has delivered good profit growth of 112% CAGR over last 5 years

Cons

  • Stock is trading at 8.86 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

Consolidated Figures in Rs. Crores / View Standalone

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
1,631 1,833 1,610 2,017 2,258 2,381 1,991 2,270 2,532 2,542 2,195 2,315 2,973
1,491 1,671 1,452 1,812 2,037 2,160 1,809 2,063 2,277 2,310 1,993 2,094 2,616
Operating Profit 140 162 158 205 221 221 182 207 255 233 202 222 358
OPM % 9% 9% 10% 10% 10% 9% 9% 9% 10% 9% 9% 10% 12%
7 13 14 15 22 16 23 10 16 22 41 23 92
Interest 51 51 52 58 57 53 57 59 62 50 53 50 61
Depreciation 31 45 53 56 54 49 47 45 51 41 43 43 39
Profit before tax 65 79 68 106 130 135 100 113 157 164 146 152 350
Tax % 42% 34% 21% 26% 31% 26% 28% 23% 28% 16% 26% 27% 31%
38 52 54 79 90 100 72 87 113 137 108 111 242
EPS in Rs 2.20 3.04 3.12 4.56 5.21 5.83 4.19 5.07 6.60 7.99 6.27 6.46 14.10
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
1,652 2,892 2,938 2,061 3,170 2,861 2,728 3,809 5,091 7,718 9,246 10,061
1,561 2,700 2,726 1,796 2,843 2,523 2,515 3,516 4,691 6,973 8,386 9,045
Operating Profit 91 192 212 264 327 338 213 293 400 745 860 1,016
OPM % 6% 7% 7% 13% 10% 12% 8% 8% 8% 10% 9% 10%
114 -102 23 7 14 -10 45 45 63 64 78 183
Interest 136 138 89 88 124 130 138 142 165 218 236 215
Depreciation 43 37 46 58 82 137 100 103 114 208 194 166
Profit before tax 27 -85 99 126 134 60 20 94 184 383 508 818
Tax % 28% -30% 48% 42% 38% 27% 20% 26% 32% 28% 27% 27%
19 -59 51 73 83 44 16 69 125 274 373 598
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 34.79
Dividend Payout % 0% 0% 9% 9% 8% 12% 13% 11% 10% 11% 9% 9%
Compounded Sales Growth
10 Years: 13%
5 Years: 30%
3 Years: 25%
TTM: 9%
Compounded Profit Growth
10 Years: 27%
5 Years: 112%
3 Years: 68%
TTM: 62%
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

Consolidated Figures in Rs. Crores / View Standalone

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 552 493 536 602 1,004 1,035 1,049 1,114 1,220 1,477 1,816 2,382
765 601 356 489 532 539 458 560 766 889 993 1,001
862 1,336 973 1,282 1,044 1,533 1,669 1,925 3,013 3,534 3,026 3,686
Total Liabilities 2,195 2,445 1,881 2,388 2,597 3,125 3,192 3,616 5,017 5,917 5,852 7,086
335 349 385 462 529 624 601 655 847 1,081 1,077 1,168
CWIP 3 3 6 38 7 5 53 2 117 10 21 22
Investments 0 0 1 1 1 255 194 113 45 5 0 0
1,856 2,093 1,489 1,887 2,060 2,241 2,344 2,847 4,007 4,821 4,753 5,897
Total Assets 2,195 2,445 1,881 2,388 2,597 3,125 3,192 3,616 5,017 5,917 5,852 7,086

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Dec 2014 Dec 2015 Dec 2016 Dec 2017 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
44 465 326 68 -134 447 191 339 471 704 184 500
-38 -104 -20 -157 -133 -87 -51 -25 -438 -419 -233 -147
-4 -302 -222 40 244 -212 -250 -56 28 -123 -218 -243
Net Cash Flow 1 59 83 -49 -24 147 -110 258 61 162 -267 110
Free Cash Flow -2 419 231 -103 -259 354 80 244 69 369 12 274
CFO/OP 41% 256% 170% 24% -24% 145% 100% 136% 143% 105% 34% 66%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 91 39 27 42 50 75 71 60 77 57 39 47
Inventory Days 641 530 61 92 75 99 144 118 119 86 73 82
Days Payable 236 340 340 363 171 225 311 276 275 179 232 238
Cash Conversion Cycle 496 229 -252 -229 -45 -51 -96 -99 -78 -36 -120 -110
Working Capital Days 8 -34 -36 -38 32 -21 2 -19 -35 -26 -8 6
ROCE % 5% 14% 19% 24% 20% 15% 10% 14% 19% 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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