Cemindia Projects
Stock Snapshot
Price Performance
Vista Outlook
View Technicals Analysis →Basis of our Recommendation
Cemindia Projects Limited is positioned favorably within India's expanding infrastructure sector, bolstered by strong government support for various projects, including highways and data centers. Management's commentary highlights a robust order book growth, with new contracts valued at ₹14,821 Cr, reflecting the company's ability to leverage its expertise in complex civil and EPC projects. This growth trajectory aligns with Vista's forecast of accelerating revenue growth and improving margins, as the company capitalizes on a strong project pipeline. However, potential headwinds such as pricing pressures and the concentration of contract revenue with related parties warrant close monitoring. The competitive landscape remains challenging, yet the overall market dynamics, including favorable macroeconomic conditions and a stable balance sheet, support a cautiously optimistic outlook. Over the next 12-24 months, Cemindia's strategic focus on niche markets and operational enhancements will be critical in navigating these challenges and seizing growth opportunities. The anticipated CAGR of approximately 8.81% in the infrastructure sector further reinforces the positive outlook, despite the risks associated with international business and margin pressures
Why We Like This Stock
- Strong order book growth with new contracts worth ₹14,821 Cr indicates robust demand and execution capabilities
- Government backing for infrastructure projects supports a favorable growth environment
- Strategic focus on niche markets and operational upgrades enhances competitiveness
Things To Watch Out For
- Pricing pressures could impact margins and profitability
- Concentration of contract revenue with related parties poses potential risks
- International business risks may affect operational stability
Key Parameters
Financial Snapshot
| Actuals | Forecast | ||||
|---|---|---|---|---|---|
| FY24 | FY25 | FY26 | FY27 | FY28 | |
| Revenue (Cr.) | 7,718 | 9,097 | 10,061 | 10,026 | 12,107 |
| Profit Before Tax (Cr.) | 377 | 488 | 818 | 856 | 1,017 |
| PBT Margin | 4.9% | 5.4% | 813.0% | 8.5% | 8.4% |
| Net Profit (Cr.) | 270 | 349 | 597 | 624 | 741 |
| Earnings Per Share | 15.7 | 20.3 | 34.7 | 36.3 | 43.1 |
Analyst Recommendations
| Broker | Recommendation | Target Price | Date |
|---|---|---|---|
| HDFC Securities | ▲ Buy | 1,459 | 30-Jul-2026 |
Company Overview
Show Company Profile
Cemindia Projects Limited provides construction and civil engineering contracting services in India. The company constructs maritime structures, including jetties, dolphins, service platforms, quay, berths on concrete and steel piles, solid gravity type wharf structures, ship lifts, dry docks, wet basins, and inclined berths; mass rapid transport systems (MRTs); airports; highways, bridges, and flyovers; foundations and specialized engineering works comprising geotechnical investigations, piling, diaphragm walling, slope stabilization, sandwicks/band drains, vibrofloatation stone columns, drilling and grouting, rock/soil anchors repairs, colcrete, gunite/shotcrete, grouted mattress, box pushing, tube heading, microtunneling, and rehabilitation and underpinning services; and dams and tunnels, TBM, M-TBM, NATM Tunnels, Box Pushing Tunnels. It also offers breakwater and piled approach trestles, steel piles and bored casts, undersea ground improvement, dredging and land reclamation, and coastal erosion protection and rock bund services, as well as foundation and specialist engineering services. In addition, the company engages in the civil works for refinery, petrochemical, power, steel, and fertilizer plants; design, construction, supply, installation, and commissioning of pipelines; operation of water and wastewater treatment plants, and pumping stations; and develop data center to cater to deliver integrated solutions tailored to critical sectors. It serves the state and central government departments, ministries, local municipal bodies, and private clients. The company was formerly known as ITD Cementation India Limited and changed its name to Cemindia Projects Limited in August 2025. Cemindia Projects Limited was founded in 1931 and is based in Mumbai, India. As of August 8, 2025, Cemindia Projects Limited operates as a subsidiary of Renew Exim DMCC.