Shares of multibagger ITD Cementation India Ltd surged nearly 6 percent on Monday, June 30, hitting a record high of ₹941.75 after the company announced a significant international contract win. The Adani Group-backed construction firm secured a marine infrastructure project worth $67.4 million (approximately ₹580 crore) for jetty construction works in Abu Dhabi, boosting investor sentiment. The stock’s remarkable rally reflects growing investor confidence in the company’s expanding order book and operational strength.
Big Win in Abu Dhabi Adds to Growing Order Book
ITD Cementation India revealed on Friday, June 27, that it has been awarded a high-value international marine contract for the Ruwais LNG project in Abu Dhabi. The $67.4 million project involves jetty construction and is a part of the company’s routine business operations. While this marks a major international win, the company has also been steadily building its domestic order book.
Just last week, ITD Cementation bagged two major domestic projects worth a combined ₹960 crore, excluding GST. One of the contracts pertains to construction activities at Trivandrum International Airport in Kerala. The other project is the construction of a multi-storeyed commercial building in Kolkata, West Bengal. Though the company did not disclose client names or execution timelines, the announcements highlight its growing presence in both domestic and international markets.
The back-to-back order wins reinforce the company’s strong positioning in the infrastructure and construction segment, supported by a well-diversified portfolio that spans airports, marine works, buildings, and metros.
Strong Financials
For the quarter ended March 31, ITD Cementation India reported a 27 percent year-on-year rise in consolidated net profit to ₹113.6 crore. Revenue grew by nearly 10 percent YoY to ₹2,478.7 crore, driven by healthy execution across key projects. Operating profit increased 18 percent to ₹259.6 crore, while operating margins improved to 10.5 percent from 9.8 percent in the same quarter last year.
The board also recommended a dividend of ₹2 per equity share for FY25, maintaining its commitment to shareholder returns.
Stock Price Trend
From a market standpoint, the company has been a remarkable performer. With today’s surge, the stock has rallied over 111 percent from its 52-week low of ₹445.60, recorded in July 2024. Over the past year, the stock has gained nearly 69 percent. It rose more than 29 percent in June alone, following a 46.6 percent surge in May. Although it saw a 12.5 percent dip in April, the broader trajectory remains bullish. Over a five-year period, the stock has delivered multibagger returns of 1,505 percent to shareholders.
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