Cemindia Projects Ltd logo

Cemindia Projects Ltd

CEMPRO NSE

Key Fundamentals

SmallcapCivil ConstructionConstruction
Market Cap
₹21,546 Cr
Volatility
Moderate
P/E Ratio
35.31
EBITDA
₹1,199 Cr
Return on Equity
24.91%
Debt to Equity
0.42
Book Value
₹139.68
EPS
₹18.73
52W High
₹1,649.2
52W Low
₹503.3

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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59 extracted metrics + investor summaries across FY11–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

1
  • Company has delivered good profit growth of 112% CAGR over last 5 years

Weaknesses

2
  • Stock is trading at 9.03 times its book value
  • Company's cost of borrowing seems high

Growth Rate

Revenue Growth
9.85% ↗
Net Income Growth
60.33% ↗
Cash Flow Change
171.21% ↗
ROE
22.53% ↗
ROCE
8.92% ↗
EBITDA Margin (Avg.)
16.19% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk high

Cemindia Projects Ltd is a small-cap construction company with a market cap of Rs 21,264 Cr that has delivered exceptional profit growth of 112% CAGR over 5 years, but trades at elevated valuations of 36.2x PE and 9.08x book value. The stock has appreciated 65% over the past year, reflecting strong momentum alongside a TTM sales growth moderation to 9%.

Bull Case 8
  • Exceptional 5-year compounded profit growth of 112% CAGR demonstrates strong earnings scalability
  • ROE of 28% in the last year indicates highly efficient capital deployment relative to equity base
  • 3-year ROE average of 24% shows consistency in generating shareholder returns over a meaningful period
  • 3-year compounded sales growth of 25% CAGR reflects sustained top-line expansion
  • 5-year compounded sales growth of 30% CAGR demonstrates long-term revenue momentum in the construction sector
  • Stock CAGR of 85% over 3 years suggests strong market confidence and wealth creation track record
  • TTM profit growth of 47% continues to outpace revenue growth of 9%, indicating margin expansion and operating leverage
  • 10-year ROE of 15% shows the company has been profitable through multiple business cycles
Bear Case 8
  • PE ratio of 36.2x is elevated for a construction company, leaving limited margin of safety if growth slows
  • Price-to-book of 9.08x is significantly above sector norms, pricing in substantial future growth expectations
  • TTM sales growth has decelerated sharply to 9% from the 3-year CAGR of 25%, signaling potential top-line slowdown
  • High cost of borrowing flagged in financials raises concern about debt servicing burden and interest coverage
  • Dividend yield of just 0.24% offers minimal income protection in a downturn scenario
  • Stock has rallied 65% in 1 year, increasing risk of mean reversion if earnings disappoint expectations
  • 10-year sales CAGR of only 13% suggests the higher recent growth rates may not be sustainable long-term
  • Key financial ratios like debt-to-equity and EPS are not publicly available, reducing transparency for fundamental analysis

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 4h ago
Headwinds 2
  • ₹1.24 Cr GST demand & penalty Aug 8

    Ahmedabad authorities issued ₹1.24 crore GST demand plus equal penalty for FY 2020-21 ITC mismatch. Company plans to appeal the order.

  • ACB challenges discharge in bribery probe Aug 8

    Andhra Pradesh Anti-Corruption Bureau filed criminal revision cases in High Court against Cemindia's discharge order in a bribery investigation involving a former employee.

Positives 4
  • Record order book, strong Q1FY27 Jul 28

    Q1FY27 revenue rose 5.6% YoY to ₹2,721 crore, EBITDA grew 9.4% to ₹285 crore, and order book hit a record ₹31,307 crore after ₹8,500 crore inflows. PAT up 2.6% to ₹141 crore.

  • ₹25,000 Cr order target, 25% growth Aug 5

    Management reaffirmed 25% revenue growth guidance for FY27, targets ₹25,000 crore in new orders from a ₹90,000 crore bid pipeline, and approved ₹5,000 crore QIP for growth.

  • JV wins ₹212.54 Cr arbitration award Aug 2

    ITD-Cem JV awarded ₹212.54 crore plus GST and costs by Arbitral Tribunal against DMRCL. DMRCL's ₹22.19 crore counter-claim was fully rejected.

  • ₹130 Cr arbitration claim filed Aug 3

    Cemindia initiated arbitration against Inland Waterways Authority of India for ₹130 crore over Haldia terminal project delays and pending payments.

Neutral 3
  • Board considers fund raising Jul 20

    Board met on July 23, 2026 to consider raising funds via equity shares or other securities. Trading window closed from July 1, 2026.

  • Investor meet on Aug 13 Aug 4

    Cemindia Projects will attend Equirus Securities' India Growth Summit 2026 institutional investors meet on August 13 in Mumbai.

  • Q1FY27 concall audio uploaded Jul 29

    Audio recording of Q1FY27 analyst conference call uploaded to company website per SEBI disclosure norms.

TL;DR: Cemindia Projects is executing well with record order book at ₹31,307 crore, healthy 25% growth guidance, and strong bid pipeline of ₹90,000 crore. Arbitration wins and claims signal active recovery of dues. Key risks are a GST demand (₹1.24 crore, manageable) and a lingering ACB bribery probe, though both appear contained. The growth trajectory is firmly positive with the ₹5,000 crore QIP providing firepower for expansion.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,833
1,610
2,017
2,258
2,381
1,991
2,270
2,532
2,576
2,195
2,315
2,973
2,721
Expenses
1,671
1,452
1,812
2,037
2,160
1,809
2,063
2,277
2,336
1,993
2,094
2,616
2,446
Operating Profit
162
158
205
221
221
182
207
255
240
202
222
358
275
OPM %
9%
10%
10%
10%
9%
9%
9%
10%
9%
9%
10%
12%
10%
Other Income
13
14
15
22
16
23
10
16
20
41
23
92
10
Interest
51
52
58
57
53
57
59
62
50
53
50
61
50
Depreciation
45
53
56
54
49
47
45
51
41
43
43
39
43
PBT
79
68
106
130
135
100
113
157
169
146
152
350
192
Tax %
34%
21%
26%
31%
26%
28%
23%
28%
19%
26%
27%
31%
27%
Net Profit
52
54
79
90
100
72
87
113
137
108
111
242
141
EPS in Rs
3.04
3.12
4.56
5.21
5.83
4.19
5.07
6.6
7.99
6.27
6.46
14.1
8.2
Figures in ₹ Crores

Profit & Loss

  Dec 2014Dec 2015Dec 2016Dec 2017Mar 2019 15mMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,652
2,892
2,938
2,061
3,170
2,861
2,728
3,809
5,091
7,718
9,246
10,061
10,205
Expenses
1,561
2,700
2,726
1,796
2,843
2,523
2,515
3,516
4,691
6,973
8,386
9,045
9,149
Operating Profit
91
192
212
264
327
338
213
293
400
745
860
1,016
1,056
OPM %
6%
7%
7%
13%
10%
12%
8%
8%
8%
10%
9%
10%
10%
Other Income
114
-102
23
7
14
-10
45
45
63
64
78
183
167
Interest
136
138
89
88
124
130
138
142
165
218
236
215
215
Depreciation
43
37
46
58
82
137
100
103
114
208
194
166
167
PBT
27
-85
99
126
134
60
20
94
184
383
508
818
841
Tax %
28%
-30%
48%
42%
38%
27%
20%
26%
32%
28%
27%
27%
—
Net Profit
19
-59
51
73
83
44
16
69
125
274
373
598
602
EPS in Rs
1.25
-3.82
3.28
4.69
4.77
2.51
0.92
4.01
7.23
15.93
21.7
34.79
35.03
Div. Payout %
0%
0%
9%
9%
8%
12%
13%
11%
10%
11%
9%
9%
—
Figures in ₹ Crores

Balance Sheet

  Dec 2014Dec 2015Dec 2016Dec 2017Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
16
16
16
16
17
17
17
17
17
17
17
17
Reserves
552
493
536
602
1,004
1,035
1,049
1,114
1,220
1,477
1,816
2,382
Borrowings
765
601
356
489
532
539
458
560
766
889
993
1,001
Other Liabilities
862
1,336
973
1,282
1,044
1,533
1,669
1,925
3,013
3,534
3,026
3,686
Total Liabilities
2,195
2,445
1,881
2,388
2,597
3,125
3,192
3,616
5,017
5,917
5,852
7,086
Fixed Assets
335
349
385
462
529
624
601
655
847
1,081
1,077
1,168
CWIP
3
3
6
38
7
5
53
2
117
10
21
22
Investments
0
0
1
1
1
255
194
113
45
5
0
0
Other Assets
1,856
2,093
1,489
1,887
2,060
2,241
2,344
2,847
4,007
4,821
4,753
5,897
Total Assets
2,195
2,445
1,881
2,388
2,597
3,125
3,192
3,616
5,017
5,917
5,852
7,086
Figures in ₹ Crores

Cash Flow

  Dec 2014Dec 2015Dec 2016Dec 2017Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
44
465
326
68
-134
447
191
339
471
704
184
500
Investing
-38
-104
-20
-157
-133
-87
-51
-25
-438
-419
-233
-147
Financing
-4
-302
-222
40
244
-212
-250
-56
28
-123
-218
-243
Net Cash Flow
1
59
83
-49
-24
147
-110
258
61
162
-267
110
Free Cash Flow
-2
419
231
-103
-259
354
80
244
69
369
12
274
CFO/OP
41
256
170
24
-24
145
100
136
143
105
34
66
Figures in ₹ Crores

Ratios

  Dec 2014Dec 2015Dec 2016Dec 2017Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
91
39
27
42
50
75
71
60
77
57
39
47
Inventory Days
641
530
61
92
75
99
144
118
119
86
73
82
Days Payable
236
340
340
363
171
225
311
276
275
179
232
238
Cash Conversion Cycle
496
229
-252
-229
-45
-51
-96
-99
-78
-36
-120
-110
Working Capital Days
8
-34
-36
-38
32
-21
2
-19
-35
-26
-8
6
ROCE %
5%
14%
19%
24%
20%
15%
10%
14%
19%
27%
28%
33%

Shareholding Pattern

As of Jun 2026
Promoters 67.46%
Public 17.00%
FIIs 7.27%
Others 5.41%
DIIs 2.87%
Total 100.01%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
46.63%
46.63%
46.63%
46.63%
46.63%
46.63%
46.63%
46.63%
46.63%
46.63%
46.63%
46.63%
46.63%
46.63%
46.63%
46.63%
46.63%
67.46%
67.46%
67.46%
67.46%
67.46%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
14.43%
0.00%
17.07%
20.00%
20.99%
17.04%
13.95%
9.21%
8.36%
8.19%
7.31%
7.27%
DIIs
20.33%
19.60%
15.26%
13.02%
12.31%
11.62%
8.37%
5.64%
5.07%
4.57%
3.38%
1.43%
1.83%
2.44%
2.32%
2.61%
6.15%
0.79%
0.72%
1.50%
1.94%
2.87%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
19.39%
20.32%
24.84%
25.54%
27.10%
28.17%
25.80%
25.94%
27.14%
26.93%
27.55%
29.26%
27.16%
25.19%
24.67%
24.68%
23.27%
17.71%
18.19%
17.78%
17.82%
17.00%
Others
13.64%
13.45%
13.26%
14.81%
13.96%
13.58%
19.20%
21.78%
21.15%
21.86%
8.01%
22.67%
7.30%
5.74%
5.38%
9.03%
9.99%
4.83%
5.27%
5.07%
5.47%
5.41%
No. of Shareholders
44,245
54,096
56,361
49,003
55,390
55,360
47,476
46,637
49,858
57,196
73,005
76,050
78,347
86,975
1,08,988
1,07,317
1,02,140
92,686
98,422
94,807
90,782
90,808

Documents

1
Concall - May 2017 May 2017
2
Concall - Nov 2017 Nov 2017
3
Concall - Feb 2018 Feb 2018
4
Concall - May 2018 May 2018
5
Concall - Aug 2018 Aug 2018

Frequently Asked Questions about Cemindia Projects Ltd

What does Cemindia Projects Ltd do?
Cemindia Projects Ltd. is engaged in the business of providing design, engineering, procurement and construction (EPC) services for infrastructure projects in India. [1]
Where is Cemindia Projects Ltd (CEMPRO) listed?
Cemindia Projects Ltd is listed on the Indian stock exchanges. It is listed on NSE: CEMPRO and BSE: 509496. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Cemindia Projects Ltd belong to?
Cemindia Projects Ltd operates in the Construction sector within the Civil Construction industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Cemindia Projects Ltd?
Cemindia Projects Ltd has a market capitalisation of approximately ₹21545.60 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Cemindia Projects Ltd?
The Price-to-Earnings (PE) ratio of Cemindia Projects Ltd is 35.31. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Cemindia Projects Ltd?
Over the past 52 weeks, Cemindia Projects Ltd has traded between a low of ₹503.3 and a high of ₹1,649.2. This range helps investors understand the stock's price volatility and recent trading levels.
Does Cemindia Projects Ltd pay dividends?
Yes, Cemindia Projects Ltd has a dividend yield of 0.24%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Cemindia Projects Ltd?
Cemindia Projects Ltd has a Return on Equity (ROE) of 24.91%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Cemindia Projects Ltd on Tapetide?
On Tapetide, you can view Cemindia Projects Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Cemindia Projects Ltd. is engaged in the business of providing design, engineering, procurement and construction (EPC) services for infrastructure projects in India. [1]

Website cemindia.co.in
CEO Mr. Jayanta Basu
Employees 2,769
Listed 1999-02-10
Face Value ₹ 1
Issued Size 17,17,87,584

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