Cemindia Projects Ltd. Reports Record FY26 Revenue, New Order Book High

Strong Financials and Record Order Book

Cemindia Projects Ltd. has reported strong financial results for the fiscal year ending March 31, 2026. Consolidated revenue reached a new high of ₹10,061 crore, marking an 8.8% year-on-year growth. Profit After Tax (PAT) surged by 60.3% to ₹598 crore, while consolidated EBITDA grew by 27.7% to ₹1,199 crore.

The company also achieved an all-time high order book of ₹24,545 crore as of March 31, 2026, ensuring strong revenue visibility for upcoming fiscal years.

Corporate Governance and Approvals

In corporate governance, the board approved the appointment of Mr. Abizer Shabbir Diwanji as an Additional Director (Non-Executive-Independent) for three years, and recommended Price Waterhouse Chartered Accountants LLP as Statutory Auditors for a five-year term. These appointments, along with alterations to the Articles of Association regarding the 'Common Seal', are subject to shareholder approval at upcoming meetings.

Company Background and Sector Context

Cemindia Projects, previously known as ITD Cementation India Limited, has a solid history in heavy civil and infrastructure construction. For FY25, the company reported revenue of ₹9,150 crore and a 3-year revenue CAGR of 18%. Despite facing project delays impacting Q3 FY26 growth, management remained optimistic, projecting a 15-20% revenue increase for Q4 FY26 based on a ₹21,000 crore order book at the time.

Cemindia's 8.8% revenue growth for FY26 places it strongly within the infrastructure sector. Competitors like Larsen & Toubro Ltd. and NCC Ltd. operate in comparable large-scale projects, although their diversified businesses may present different growth patterns. The company's 60.3% PAT increase suggests strong margin improvements or cost management, a key metric for sector comparison.

As of March 31, 2026, Cemindia’s consolidated Net Worth stood at ₹2,400 crore. The company maintained a healthy Net Debt to Equity Ratio of 0.18x.

Key Risks and What to Watch

A key factor to monitor is the impact of the Government of India's notification of four new Labour Codes, which could affect company liabilities and expenses. Cemindia is closely tracking these developments.

Investors will be watching for shareholder approvals on director and auditor appointments, and outcomes from the 48th Annual General Meeting on June 27, 2026. Developments regarding the new Labour Codes and their financial impact will also be closely tracked.