ITD Cementation India Ltd. has won a contract worth Rs 893 crore in Odisha. The project involves the construction of the berth and breakwater for the development of greenfield captive jetties, according to a stock exchange filing on Monday.
The company undertakes heavy civil, infrastructure and EPC business with an established presence and expertise in maritime structures, mass rapid transit systems, airports, hydro-electric power, tunnels, dams and irrigation, highways, bridges and flyovers, industrial structures and buildings, water and wastewater and foundation and specialist engineering.
ITD Cementation is eyeing a top-line growth of 25–30% in the current financial year and the company is also focusing on cost control and improving its margin, Chief Financial Officer Prasad Patwardhan said last month.
“A 25% to 30% growth in top line is definitely possible in FY26,” he said during a conversation with NDTV Profit. “It is difficult to give guidance on order booking, but it will significantly improve this year.”
“There may not be too much scope for the margins to improve. Our focus is on cost control and improvement of margins. We will see margins inch up in the current year as well,” the CFO added.
In India, most of ITD Cementation’s orders come from the Union government rather than the state governments. The company is executing two overseas orders, one each in Sri Lanka and Bangladesh. It is also looking for opportunities in the Middle East and other countries.
The company secured orders worth over Rs 7,100 crore in fiscal 2025 with maritime structures having a share of 34.6%.
ITD Cementation share price settled 1.7% higher at Rs 759.15 apiece, ahead of the announcement, compared to 0.3% gain in the benchmark Sensex. The stock has risen 77% in the last 12 months and 40% on a year-to-date basis.
Two out of the three analysts tracking ITD Cementation have a ‘buy’ rating on the stock and one recommends a ‘hold’, according to Bloomberg data. The average of 12-month analyst price target implies a potential downside of 6.6%.
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