ITD Cementation India Limited — Investor Meet, 16-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

ITD Cementation posted Q4 revenue of INR2,480 Cr, up 10% YoY, with EBITDA at INR268 Cr (10.8% margin) and PAT of INR114 Cr. FY25 revenue rose 18% to INR9,097 Cr, EBITDA was INR923 Cr (10.1% margin), and PAT increased 36% to INR373 Cr. Net debt/equity stayed low at 0.31x. Order inflows hit INR7,100 Cr, backlog stands at INR18,300 Cr, plus L1 bids of INR600 Cr including Jaipur Airport.

Management flagged steady growth from metros, marine, airports, and industrial sectors, backed by a large ~INR90,000 Cr tender pipeline. FY26 targets ~25% revenue growth, better margins, and order inflows of INR15,000-16,000 Cr with 30-40% from promoter projects. New focus areas include airports, data centers, specialized roadworks, and Middle East. Capex planned around INR250 Cr.

Recent completions include Mumbai Metro Line 3 and Vizhinjam Port Phase 1. Bangladesh projects normalized, with INR1,500 Cr revenue expected. No slow-moving orders and execution timelines mostly 2-4 years. Promoter holding post open offer to be ~67%.