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ITD Cementation India Limited
(CEMPRO)
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Rating:68Neutral
Price Target:
₹1,318.00
▲(70.09% Upside)
Action:Downgraded
Date:07/01/26
The score is driven by strong technical uptrend signals and solid reported growth/profitability with improving leverage, but it is held back by weak/volatile free cash flow and a demanding valuation (high P/E with minimal dividend yield).
Positive Factors
Strong Revenue Growth
Strong multi-year revenue expansion indicates increasing execution volume across the company’s infrastructure contracting activities. Continued growth can improve resource utilization, support operating scale, and strengthen the company’s ability to compete for larger EPC and civil construction packages.
Negative Factors
Weak and Volatile Cash Conversion
Low and inconsistent conversion of accounting earnings into free cash flow can constrain the company’s ability to fund projects, reduce debt, or return capital without additional financing. Volatility also indicates that working-capital movements and reinvestment requirements may remain material.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Strong multi-year revenue expansion indicates increasing execution volume across the company’s infrastructure contracting activities. Continued growth can improve resource utilization, support operating scale, and strengthen the company’s ability to compete for larger EPC and civil construction packages.
Read all positive factors
ITD Cementation India Limited (CEMPRO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹222.76B
Dividend Yield0.23%
Average Volume (3M)43.65K
Price to Earnings (P/E)37.1
Beta (1Y)0.99
Revenue Growth10.02%
EPS Growth46.78%
CountryIN
Employees3,187
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)17.95
Shares Outstanding171,787,580
10 Day Avg. Volume18,340
30 Day Avg. Volume43,645
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)3.66
Price to Sales (P/S)0.87
P/FCF Ratio67.89
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)41.98
Revenue Forecast (FY)₹123.86B
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 con...
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 ...
ITD Cementation India Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 69.00B | 100.61B | 77.18B | 50.91B | 38.09B | 27.28B |
| Gross Profit | 21.49B | 15.64B | 26.90B | 18.40B | 13.89B | 10.71B |
| EBITDA | 6.39B | 10.37B | 7.25B | 3.81B | 2.76B | 1.82B |
| Net Income | 3.08B | 5.98B | 2.74B | 1.24B | 688.05M | 157.56M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 71.13B | 59.17B | 50.17B | 36.16B | 31.88B |
| Cash, Cash Equivalents and Short-Term Investments | 4.48B | 9.49B | 7.01B | 4.74B | 4.07B | 1.40B |
| Total Debt | 0.00 | 10.01B | 8.89B | 7.66B | 5.60B | 4.58B |
| Total Liabilities | -16.36B | 47.14B | 44.19B | 37.75B | 24.82B | 21.20B |
| Stockholders Equity | 16.36B | 24.00B | 14.94B | 12.38B | 11.31B | 10.66B |
Cash Flow | ||||||
| Free Cash Flow | 4.36B | 1.29B | 3.48B | 527.60M | 2.28B | 896.21M |
| Operating Cash Flow | 7.21B | 3.93B | 7.04B | 4.71B | 3.39B | 2.35B |
| Investing Cash Flow | -2.77B | -2.35B | -4.19B | -4.38B | -247.37M | -841.49M |
| Financing Cash Flow | -2.58B | -500.30M | -1.23B | 277.87M | -556.91M | -2.60B |
ITD Cementation India Limited Technical Analysis
Positive
774.90
Price Trends
1378.01
Negative
1164.47
Positive
920.59
Positive
Market Momentum
-20.67
Negative
50.48
Neutral
71.56
Neutral
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 774.9 is below the 20-day moving average (MA) of 1271.89, below the 50-day MA of 1378.01, and below the 200-day MA of 920.59, indicating a neutral trend. The MACD of -20.67 indicates Negative momentum. The RSI at 50.48 is Neutral, neither overbought nor oversold. The STOCH value of 71.56 is Neutral, 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹222.76B | 37.08 | ― | 0.23% | 10.02% | 46.78% | |
62 Neutral | ₹5.46T | 30.41 | ― | 0.96% | 9.78% | 13.15% | |
59 Neutral | ₹60.25B | 29.83 | ― | 1.34% | -20.64% | -12.46% | |
56 Neutral | ₹93.74B | 13.46 | ― | 1.47% | -1.81% | -12.78% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
39 Underperform | ₹107.60B | 74.87 | ― | 0.68% | -11.87% | -73.37% | |
36 Underperform | ₹112.11B | 21.39 | ― | 1.84% | -9.92% | -21.60% |
* General Sector Average
IN:CEMPRO
ITD Cementation India Limited
1,296.70
561.98
76.49%
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149.30
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-26.94%
ITD Cementation India Limited Corporate Events
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 ...
Cemindia Projects Extends Trading Window Closure Ahead of Quarterly Results
Jul 22, 2026
Cemindia Projects Limited has clarified that its trading window for dealing in company securities will remain closed beyond the previously indicated timeline. The window will now reopen only after 48 hours from the public submission of its unaudit...
Cemindia Projects Shareholders Clear All Resolutions at 48th AGM
Jun 27, 2026
Shareholders of Cemindia Projects Limited approved all items at the company’s 48th Annual General Meeting held on June 27, 2026 via video conferencing. The meeting cleared audited standalone and consolidated financial statements for FY 2025-...
Cemindia Projects Overhauls Audit Mandate and Document Execution Rules
Jun 27, 2026
Cemindia Projects Limited, formerly ITD Cementation India Limited, is a listed engineering and construction company focused on infrastructure projects, with its shares traded on BSE and NSE under the codes 509496 and CEMPRO. The company operates u...
Cemindia Projects Appoints New Auditor, Updates Document Execution Rules
Jun 27, 2026
Cemindia Projects Limited has appointed Price Waterhouse Chartered Accountants LLP as its statutory auditors for a five-year term, starting from the conclusion of its 48th Annual General Meeting in 2026 and extending to the 53rd AGM in 2031. The m...
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.