Cemindia Projects Limited (CEMPRO)
🎯 Key Takeaways
- Cemindia Projects Limited is in a growth phase driven by infrastructure tailwinds, with revenue and profitability showing steady momentum over the past year. Management is leveraging a record order book and India's infrastructure upcycle under NIP and Gati Shakti to sustain growth, supported by strong financials and capital flexibility.
- Revenue grew 12.8% QoQ to ₹2,245 in Q3FY25.
- ⚠️ Execution risk in deploying the proposed ₹5,000 crore capital raise efficiently without over-leveraging.
📖 The Story
Cemindia Projects Limited is in a growth phase driven by infrastructure tailwinds, with revenue and profitability showing steady momentum over the past year. Management is leveraging a record order book and India's infrastructure upcycle under NIP and Gati Shakti to sustain growth, supported by strong financials and capital flexibility.
📰 What's Happening
In Q1 FY27, the company reported ₹2,721 crores in revenue (up 6% YoY) and ₹141 crores in PAT (up 9% YoY), with EBITDA margin expanding to 10.5%. The order book reached a record ₹31,307 crores, reflecting robust demand across infrastructure sectors. The board approved a ₹5,000 crore capital raise via EGM on August 17, 2026, to fund growth, debt repayment, and acquisitions, with QIPs requiring at least 10% allocation to mutual funds and a one-year lock-in.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Q4FY23 | Q1FY24 | Q2FY24 | Q3FY24 | Q4FY24 | Q1FY25 | Q2FY25 | Q3FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,631 | 1,833 | 1,610 | 2,017 | 2,258 | 2,381 | 1,991 | 2,245 |
| Operating Profit | 154 | 170 | 164 | 217 | 242 | 237 | 204 | 214 |
| OPM % | 9.0% | 8.8% | 9.8% | 10.2% | 9.8% | 9.3% | 9.1% | 9.2% |
| Net Profit | 38 | 52 | 54 | 79 | 90 | 100 | 72 | 87 |
| EPS | ₹2.20 | ₹3.04 | ₹3.12 | ₹4.56 | ₹5.21 | ₹5.83 | ₹4.19 | ₹5.07 |
Revenue has shown consistent growth over the past four quarters, rising from ₹1,610 crores in Q2FY24 to ₹2,721 crores in Q1FY27, with profitability holding steady around 9-10% OPM. Despite a slight dip in NP in Q1FY25 (₹87 crores), PAT growth accelerated to 9% YoY in Q1FY27, indicating improved operational efficiency and margin management amid rising order inflows.
🔮 Management Outlook & What's Next
Management highlighted India's infrastructure upcycle, citing ₹111 lakh crore investment under NIP and Gati Shakti, along with rising private capital inflows, as key growth drivers. They emphasized that the strong order book and infrastructure tailwinds position the company for sustained growth, with capital to be deployed toward expansion, debt reduction, and strategic acquisitions.
Extracted from official company announcements. Not StockFin.ai's opinion.
⚖️ Peer Comparison — Construction
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| Larsen & Toubro Limited | 5.38 L Cr | 33.1 | — | — | — |
| Rail Vikas Nigam Limited | 59,006 | 45.4 | — | — | — |
| NBCC (India) Limited | 25,331 | 49.1 | — | — | — |
| IRB Infrastructure Developers Limited | 24,518 | 3.8 | — | — | — |
| Kalpataru Projects International Limited | 21,476 | 39.0 | — | — | — |
| Cemindia Projects Limited | 15,453 | 44.3 | — | — | — |
| KEC International Limited | 14,602 | 31.4 | — | — | — |
| Techno Electric & Engineering Company Limited | 13,909 | 36.5 | — | — | — |
| Engineers India Limited | 13,868 | 33.4 | — | — | — |
| Ircon International Limited | 13,416 | 17.6 | — | — | — |
⚠️ Risk Factors
1. Execution risk in deploying the proposed ₹5,000 crore capital raise efficiently without over-leveraging. 2. Margin pressure if input costs rise or order execution slows amid macro volatility. 3. Regulatory and shareholder approval risks tied to the capital raise, which could be delayed or modified. 4. Concentration in infrastructure sectors exposes the company to policy or funding shifts in public and private capex cycles.
📋 Recent Filings
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Announcement 29 July 2026Cemindia Projects Limited announced that an audio recording of its analyst and investor conference call discussing unaudited financial results for the...
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Announcement 28 July 2026Cemindia Projects Limited announced unaudited standalone and consolidated financial results for Q1 FY27 ended June 30, 2026, showing revenue of ₹2,721...
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🟡 Board Meeting 28 July 2026Cemindia Projects Limited announced the outcome of its board meeting held on 28 July 2026, approving unaudited financial results for the quarter ended...
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🔴 Financial Results 28 July 2026Cemindia Projects Limited reported Q1 FY27 revenue of **₹2,721 crores**, up 6% YoY, with PAT at **₹141 crores** reflecting a 9% YoY increase. EBITDA m...
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🟡 Board Meeting 23 July 2026Cemindia Projects Limited announced its board approved raising up to ₹5,000 crores via equity shares or other securities through qualified institution...
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🟡 Board Meeting 23 July 2026Cemindia Projects Limited announced an Extraordinary General Meeting on August 17, 2026, via video conferencing to seek shareholder approval for raisi...
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🔴 Financial Results 16 July 2026Cemindia Projects Limited announced an unaudited financial results conference call for Q1FY27 on July 29, 2026 at 12:00 p.m. IST, inviting analysts an...
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🟡 Board Meeting 29 June 2026Cemindia Projects Limited held its 48th Annual General Meeting on 27 June 2026 via video conferencing, with shareholders approving all listed resoluti...
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🟡 Board Meeting 27 June 2026Cemindia Projects Limited announced that shareholders approved at the 48th Annual General Meeting on June 27, 2026, the appointment of Price Waterhous...
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🟡 Board Meeting 27 June 2026Cemindia Projects Limited announced at its 48th Annual General Meeting on June 27, 2026, the appointment of Price Waterhouse Chartered Accountants LLP...
🧠 Analyst's Read
Cemindia Projects is positioned to benefit from structural infrastructure growth in India, with a strong order book and improving profitability. Investors should monitor the outcome of the capital raise and management's ability to execute on growth plans without compromising financial stability.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-08-02.
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This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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