NSE: CEMPRO | BSE: 509496

Strong Performer, Getting Expensive

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798.55 -23.70 (-2.88%)

67.55% Gain from 52W Low

494.5K NSE+BSE Volume

NSE 24 Sep, 2025 3:31 PM (IST)

13,718.1

Market Cap

High in industry

0.7

Beta 1Year

Very Low volatility

Cemindia Projects Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for CEMPRO, BSE:509496 Cemindia Projects Ltd.

Cemindia Projects Ltd.

28 Feb 2017

798.55

-2.88%

ITD Cementation (4QCY16): Challenges persist. Downgrade to NEUTRAL

Neutral: Cemindia Projects Ltd.

Recommendation Target

HDFC Securities

ITD Cementation (ITD) missed revenue estimates in 4QCY16 by 20% owing to weak execution in its JNPT project. Further, the Rs 124mn loss borne by the Delhi Metro JV resulted in a 54% APAT miss. This project has been a thorn in ITD?s road to recovery, contributing Rs 557mn to its CY16 loss, and the company pegs further loss of Rs 80mn in CY17E.

Cemindia Projects Ltd. has gained 41.10% in the last 1 Year

Cemindia Projects Ltd.

29 Dec 2016

798.55

-2.88%

Pick of the Week:26 DEC 2016

Buy: Cemindia Projects Ltd.

Axis Direct

Promoters have increased holdings from 46.64% to 67.46% in Jun 2025 qtr.

Cemindia Projects Ltd.

10 Sep 2016

798.55

-2.88%

BUY with a price target of Rs 212 representing a potential upside of 47% from the CMP of Rs 142 over the next 18 months.

Buy: Cemindia Projects Ltd.

Ventura

ITD Cementation India (ITD) has cemented its position in the civil engineering infrastructure space with a presence across niche and growing segments, viz. maritime structures, Mass Rapid Transport Systems (MRTS) and hydro power projects/dams. With an operating history of over four decades, ITD is well poised to benefit from the...

Number of FII/FPI investors increased from 171 to 178 in Jun 2025 qtr.

Cemindia Projects Ltd.

12 Aug 2016

798.55

-2.88%

ITD Cementation Q1FY17 Update 12Aug2016

Neutral: Cemindia Projects Ltd.

Recommendation Target

Phillip Capital

Topline inline with expectations at Rs 8.6bn (+18% yoy). The company has now reported topline of Rs 18.8bn in 1HCY16 (+42% yoy). EBITDA margins at 4.9% fell by 200bps yoy (-160bps qoq) – significantly below expectations of 6.9%. Margins fell due to losses in JV (esp DMRC project JVs), which reported losses of Rs 224mn in the quarter (Rs 40mn profit in 2QCY15). PAT, at Rs 52mn (+65% yoy), was significantly below our and consensus expectations (Rs 160mn), driven by low EBITDA margins. Orderbook was Rs 44.3bn (1.2x book-to-sales); Rs 72bn including L1 (2.1x). L1 includes Rs 11.2bn Mumbai Metro phase 3 order (accrued in July), while the Udangudi jetty project (Rs 12bn) is delayed, and might accrue by CY16 end. Balance sheet improved significantly, with inventory reduction of over Rs 3.6bn – leading to net debt reduction Rs 2.2bn (gross debt down to Rs 4.9bn from Rs 6bn. Cash up to Rs 2.7bn from Rs 1.5bn). Inventory days reduced to 81 from 140 days, leading to reduction in WC cycle to 65 days from 85 days.Phillip Capital continue to value the company at 15x CY17 P/E (inline with valuation for other EPC companies). They downgrade to NEUTRAL with price target of Rs 135 (Rs 140 earlier), on expensive valuations.

Promoters have increased holdings from 46.64% to 67.46% in Jun 2025 qtr.

Cemindia Projects Ltd.

17 May 2016

798.55

-2.88%

ITD Cementation Q1CY16 Update 17May2016

Buy: Cemindia Projects Ltd.

Target

Phillip Capital

EBITDA margins at 6.5% rose by 100bps yoy (+30bps qoq) inline with expectations. Margin expansion needs to pick-up, if the company has to meet its earlier guidance of 7-8% EBITDA margins for CY16....

Promoters have increased holdings from 46.64% to 67.46% in Jun 2025 qtr.

Cemindia Projects Ltd.

29 Feb 2016

798.55

-2.88%

ITD Cementation Q3FY16 Update 29Feb2016

Buy: Cemindia Projects Ltd.

Target

Phillip Capital

to delay in order awards (Udangudi Jetty, Mumbai Metro Phase 3), the executable orderbook appears weak the same is expected to lead to lower execution in CY16. However, prospects of robust revenue growth in CY17 remain strong, on the back of...

Cemindia Projects Ltd. has an average target of 758.00 from 1 broker.

Cemindia Projects Ltd.

26 Feb 2016

798.55

-2.88%

ITD Cementation (4QCY15): A new start. Maintain BUY

buy: Cemindia Projects Ltd.

HDFC Securities

ITD Cementation (ITD) delivered a strong 4QCY15 execution beat as revenue/EBITDA was 58/29% above estimates. EBIDTA margins expanded 215bps YoY (130bps below our estimate), largely driven by lower employee costs (514bps contraction YoY) and other expenses (160bps contraction YoY). The benefits were partly offset by 459bps rise in costs of raw material.

Cemindia Projects Ltd. has an average target of 758.00 from 1 broker.

Cemindia Projects Ltd.

26 Feb 2016

798.55

-2.88%

ITD Cementation (4QCY15): A new start. Maintain BUY

Buy: Cemindia Projects Ltd.

Target

HDFC Securities

Cemindia Projects Ltd. has an average target of 758.00 from 1 broker.

Cemindia Projects Ltd.

10 Nov 2015

798.55

-2.88%

ITD 10Nov2015

Buy: Cemindia Projects Ltd.

Phillip Capital

estimates with Rs 20bn in 9MCY15. Set to beat estimates, with Q4 being a seasonallystrongerforthesector. EBITDAmarginsat6.2%roseby250bpsyoybutdeclined70bpsqoqprimarilydue...

Cemindia Projects Ltd. is trading above all available SMAs

Cemindia Projects Ltd.

06 Nov 2015

798.55

-2.88%

ITD Cementation (3QCY15): Margins expansion next trigger. Maintain BUY

Buy: Cemindia Projects Ltd.

Target

HDFC Securities

ITD Cementation (ITDC) delivered a strong 3QCY15 execution beat with revenue/EBITDA growth of 69%/182% YoY. While revenue was 4.3% above our estimates, EBITDA came 8.4% below expectations. EBIDTA margins expanded 250bps on YoY basis (86bps below our estimate), largely driven by lower employee costs (123bps contraction YoY) and lower other expenses (382bps contraction YoY).

Cemindia Projects Ltd. has an average target of 758.00 from 1 broker.

Is ITD Cementation India Ltd. worth buying?

250 Votes:

Buy 80.8%

Sell 9.2%

Hold 10.0%

RESEARCH REPORTS

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