Cemindia Projects Ltd logo

Cemindia Projects Ltd

CEMPRO NSE

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

AI Verdict: BUY Confidence: 6%

Cemindia Projects delivers exceptional profit growth of 112% CAGR over 5 years with a strong ROE of 28% last year, supported by unanimous analyst buy ratings. However, the stock trades at an elevated P/B of 8.75x and P/E of 35.1x, warranting caution on entry price.

Key Fundamentals

Volatility
Moderate
P/E Ratio
34.85
EBITDA
₹1,199 Cr
Return on Equity
18.3%
Debt to Equity
0.48
EPS
₹18.73
52W High
₹1,291.6
52W Low
₹503.3

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 8.69 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 1d ago
BUY
Risk high

Cemindia Projects delivers exceptional profit growth of 112% CAGR over 5 years with a strong ROE of 28% last year, supported by unanimous analyst buy ratings. However, the stock trades at an elevated P/B of 8.75x and P/E of 35.1x, warranting caution on entry price.

Bull Case 8
  • Exceptional 5-year compounded profit growth of 112% CAGR, far outpacing the construction sector average
  • Last year ROE of 28% indicates highly efficient capital deployment and improving profitability
  • 3-year ROE of 24% and 5-year ROE of 19% demonstrate sustained and improving return generation
  • All 3 analyst ratings are unanimous buys (100% buy recommendation) with zero hold or sell calls
  • Strong 5-year compounded sales growth of 30% CAGR indicates robust order book execution
  • TTM profit growth of 62% shows continued earnings momentum even on a higher base
  • Stock CAGR of 97% over 3 years reflects strong market re-rating driven by fundamentals
  • 10-year compounded sales growth of 13% and profit growth of 27% show long-term consistency
Bear Case 8
  • P/B ratio of 8.75x is extremely expensive for a construction company, pricing in years of future growth
  • P/E of 35.1x is a premium valuation for the construction sector where peers typically trade at 15-25x
  • Company's cost of borrowing is flagged as high, which compresses margins in a rising rate environment
  • TTM sales growth has decelerated sharply to 9% from the 3-year CAGR of 25%, signaling potential slowdown
  • Dividend yield of just 0.25% offers minimal income cushion during any price correction
  • Market cap of Rs 21,295 Cr built on decelerating revenue growth creates valuation vulnerability
  • Debt-to-equity ratio is undisclosed, limiting visibility into balance sheet leverage risk
  • 1-year stock CAGR of 50% after 3-year CAGR of 97% suggests momentum may be peaking

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

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Positives 1
  • Strong FY26 annual results May 30

    Consolidated revenue of ₹10,061 crores with 60% PAT growth and record order inflows of ₹14,821 crores reported in the FY 2025-26 Annual Report.

Neutral 2
  • BRSR report filed for FY26 May 29

    Submitted Business Responsibility and Sustainability Report for FY26 detailing ESG performance, governance, and social initiatives.

  • AGM scheduled for June 27 May 28

    48th AGM set for June 27, 2026 via video conferencing with e-voting window from June 24 to June 26.

TL;DR: Cemindia Projects delivered a standout FY26 with 60% PAT growth and record order inflows of ₹14,821 crores, signalling strong execution and demand visibility. No material headwinds are evident in recent filings. The trend is clearly improving, and the robust order book provides solid revenue visibility for FY27.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
1,631
1,833
1,610
2,017
2,258
2,381
1,991
2,270
2,532
2,542
2,195
2,315
2,973
Expenses
1,491
1,671
1,452
1,812
2,037
2,160
1,809
2,063
2,277
2,310
1,993
2,094
2,616
Operating Profit
140
162
158
205
221
221
182
207
255
233
202
222
358
OPM %
9%
9%
10%
10%
10%
9%
9%
9%
10%
9%
9%
10%
12%
Other Income
7
13
14
15
22
16
23
10
16
22
41
23
92
Interest
51
51
52
58
57
53
57
59
62
50
53
50
61
Depreciation
31
45
53
56
54
49
47
45
51
41
43
43
39
PBT
65
79
68
106
130
135
100
113
157
164
146
152
350
Tax %
42%
34%
21%
26%
31%
26%
28%
23%
28%
16%
26%
27%
31%
Net Profit
38
52
54
79
90
100
72
87
113
137
108
111
242
EPS in Rs
2.2
3.04
3.12
4.56
5.21
5.83
4.19
5.07
6.6
7.99
6.27
6.46
14.1
Figures in ₹ Crores

Profit & Loss

  Dec 2014Dec 2015Dec 2016Dec 2017Mar 2019 15mMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
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
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
Operating Profit
91
192
212
264
327
338
213
293
400
745
860
1,016
OPM %
6%
7%
7%
13%
10%
12%
8%
8%
8%
10%
9%
10%
Other Income
114
-102
23
7
14
-10
45
45
63
64
78
183
Interest
136
138
89
88
124
130
138
142
165
218
236
215
Depreciation
43
37
46
58
82
137
100
103
114
208
194
166
PBT
27
-85
99
126
134
60
20
94
184
383
508
818
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
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
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 Mar 2026
Promoters 67.46%
Public 23.28%
FIIs 7.31%
DIIs 1.94%
Total 99.99%
  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
46.64%
46.64%
46.64%
46.64%
46.64%
46.64%
46.64%
46.64%
67.46%
67.46%
67.46%
67.46%
FIIs
13.46%
14.42%
13.90%
17.08%
20.00%
20.99%
17.04%
13.95%
9.21%
8.36%
8.19%
7.31%
DIIs
4.57%
3.38%
1.94%
1.82%
2.44%
2.32%
2.60%
6.14%
0.79%
0.72%
1.50%
1.94%
Public
35.34%
35.56%
37.53%
34.46%
30.92%
30.06%
33.72%
33.28%
22.55%
23.45%
22.84%
23.28%
No. of Shareholders
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

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 Industrials sector within the Construction industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the PE ratio of Cemindia Projects Ltd?
The Price-to-Earnings (PE) ratio of Cemindia Projects Ltd is 34.85. 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 ₹1,291.6. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Cemindia Projects Ltd?
Cemindia Projects Ltd has a Return on Equity (ROE) of 18.30%. 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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