ITD Cementation India Limited (CEMPRO) AI Stock Analysis

ITD Cementation India Limited

(NSE:CEMPRO)

Select Model

Rating:65Neutral

Price Target:INR 1,282.00▲(1.52% Upside)

Action:downgraded

Date:10/01/26

ITD Cementation's overall score of 65 is anchored by its exceptionally strong fundamental performance, highlighted by multi-year revenue growth and a highly efficient return on equity. However, the score is constrained by a premium valuation and recent technical weakness, as the stock faces short-term bearish momentum despite maintaining its long-term uptrend.

Positive Factors

Strong revenue growthStrong multi-year revenue expansion indicates increasing execution volume and demand for the company’s infrastructure and specialized civil capabilities. Continued top-line growth can improve operating scale, support equipment utilization, and provide a broader base for earnings generation over the next several quarters.

Negative Factors

Weak and volatile cash conversionWeak conversion of reported earnings into free cash flow means accounting profit may not translate consistently into funds available for debt reduction, reinvestment, or shareholders. Volatility in cash generation can also make financial planning more difficult when project working-capital needs or investment requirements increase.

ITD Cementation India Limited (CEMPRO) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 188.11B
Dividend Yield: 0.24%
Average Volume (3M): 29.01K
Price to Earnings (P/E): 36.1
Beta (1Y): 1.32
Revenue Growth: 10.02%
EPS Growth: 46.78%
Country: India
Employees: 3,187
Sector: General
Sector Strength: 55
Industry: Engineering & Construction

ITD Cementation India Limited Business Overview & Revenue Model

Company Description

Cemindia Projects Limited, a civil engineering and construction company based in Mumbai, India, was established in 1931. The firm offers a wide array of contracting services throughout India. Its expertise covers various domains, including the constr...

How the Company Makes Money

ITD Cementation primarily makes money by executing construction and infrastructure contracts for public- and private-sector customers. Its core revenue model is project-based: it bids for EPC and construction packages, wins orders, and recognizes rev...

ITD Cementation India Limited Financial Statement Overview

Summary

Robust financial health driven by significant top-line revenue growth, expanding profit margins, and a highly stable balance sheet with low leverage (D/E of 0.41), offset slightly by standard cash flow volatility.

Income Statement

85Very Positive

Balance Sheet

85Very Positive

Cash Flow

70Positive

Financial statement breakdown
Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	90.97B	100.61B	90.97B	50.91B	38.09B	27.28B
Gross Profit	30.96B	15.64B	30.93B	18.40B	13.89B	10.71B
EBITDA	8.00B	10.37B	2.03B	3.81B	2.76B	1.82B
Net Income	3.73B	5.98B	3.73B	1.24B	688.05M	157.56M
Balance Sheet
Total Assets	0	71.13B	65.05B	50.17B	36.16B	31.88B
Cash, Cash Equivalents and Short-Term Investments	4.48B	9.49B	4.04B	4.74B	4.07B	1.40B
Total Debt	0	10.01B	9.61B	7.66B	5.60B	4.58B
Total Liabilities	-16.36B	47.14B	46.66B	37.75B	24.82B	21.20B
Stockholders Equity	16.36B	24.00B	18.33B	12.38B	11.31B	10.66B
Cash Flow
Free Cash Flow	2.95B	1.29B	-251.56M	527.60M	2.28B	896.21M
Operating Cash Flow	4.41B	3.93B	2.03B	4.71B	3.39B	2.35B
Investing Cash Flow	-2.00B	-2.35B	-30.66M	-4.38B	-247.37M	-841.49M
Financing Cash Flow	-1.47B	-500.30M	-2.09B	277.87M	-556.91M	-2.60B

ITD Cementation India Limited Technical Analysis

Technical Analysis SentimentPositive

Last Price1262.80

Price Trends

50DMA1226.75Positive

100DMA1294.11Negative

200DMA996.43Positive

Market Momentum

MACD1.15Negative

RSI58.00Neutral

STOCH86.90Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:CEMPRO, the sentiment is Positive. The current price of 1262.80 is above the 20-day moving average (MA) of 1175.48, above the 50-day MA of 1226.75, and above the 200-day MA of 996.43, indicating a bullish trend. The MACD of 1.15 indicates Negative momentum. The RSI at 58.00 is Neutral, neither overbought nor oversold. The STOCH value of 86.90 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:CEMPRO.

ITD Cementation India Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:CEMPRO against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:LT	68Neutral	INR 5.31T	27.40	―	0.99%	11.15%	17.37%
IN:CEMPRO	65Neutral	INR 232.89B	36.11	―	0.24%	10.02%	46.78%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:NCC	55Neutral	INR 71.92B	10.28	―	1.92%	-1.81%	-12.78%
IN:HCC	45Neutral	INR 44.98B	22.26	―	―	-20.64%	-12.46%
IN:AFCONS	38Underperform	INR 75.80B	52.83	―	0.97%	-11.87%	-73.37%
IN:IRCON	36Underperform	INR 90.90B	17.35	―	1.97%	-9.92%	-21.60%

* General Sector Average

Performance Comparison

IN:CEMPRO and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:CEMPRO	ITD Cementation India Limited	1262.80	407.14	47.58%
IN:AFCONS	Afcons Infrastructure Limited	206.10	-240.65	-53.87%
IN:HCC	Hindustan Construction Co. Ltd.	17.17	-11.36	-39.82%
IN:IRCON	IRCON International Ltd.	96.65	-70.24	-42.09%
IN:LT	Larsen & Toubro Limited	3858.00	-83.60	-2.12%
IN:NCC	NCC Limited	114.55	-96.24	-45.66%

ITD Cementation India Limited Corporate Events

Cemindia Projects Raises ₹1,400 Crore via Qualified Institutions Placement

Oct 19, 2026

Cemindia Projects Limited has completed a qualified institutions placement of 12,635,379 equity shares with a face value of ₹1 each to eligible institutional buyers. The shares were issued at ₹1,108.00 per share, including a premium of &#...

Cemindia Projects withdraws execution plea in Rs 4.71 crore arbitration case

Sep 24, 2026

Cemindia Projects Limited has updated exchanges on a litigation matter tied to an arbitration award of about Rs 4.71 crore plus interest arising from contractual disputes with Baya Weaver Ltd and Saya Cementation Ltd. The company had previously secur...

Cemindia Projects JV Wins Arbitration Award Against Delhi Metro Rail

Aug 2, 2026

Cemindia Projects Limited has disclosed the outcome of an arbitration involving its joint venture with ITD and the Delhi Metro Rail Corporation, related to a 2013 contract. The dispute centered on additional costs from prolonged work, uncertified wor...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 01, 2026

ITD Cementation India Limited AI Stock Analysis