Cemindia Projects Limited , formerly known as ITD Cementation India Limited, has announced its acquisition of a significant stake in a newly incorporated water management company. The move marks Cemindia's entry into the water infrastructure sector, potentially diversifying its portfolio in the construction and infrastructure development industry.

Key Details of the Acquisition

Project Scope and Objectives

MBWL has been established with a specific focus on water resource management and infrastructure development. The company's primary objectives are to:

• Design, finance, develop, construct, operate, and maintain the Mor Sagar Artificial Reservoir
• Manage the feeder from Bisalpur to Mor Sagar Artificial Reservoir in Rajasthan
• Implement the project under a Hybrid Annuity Model

This strategic move by Cemindia Projects Limited aligns with the growing emphasis on water management and infrastructure development in India. The project's location in Rajasthan, a state often facing water scarcity issues, underscores its potential significance.

Regulatory Compliance and Disclosure

Cemindia Projects Limited has made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that the acquisition does not fall under related party transactions, despite Adani Enterprises Limited being identified as a related party holding the majority stake in MBWL.

Future Outlook

While MBWL is yet to commence business operations, its formation and Cemindia's stake acquisition signal a strategic move in the water infrastructure sector. The project's success could potentially open new avenues for Cemindia Projects Limited in the realm of water resource management and infrastructure development.

As the project progresses, it will be interesting to observe how this joint venture between Cemindia Projects and Adani Enterprises unfolds, particularly in addressing the water management challenges in Rajasthan.

Cemindia Projects Limited , an Adani Group entity and a leading Engineering and Construction Company, has announced robust financial results for the second quarter of fiscal year 2026, demonstrating significant growth across key metrics.

Financial Highlights

The company reported impressive year-on-year growth in its consolidated financial performance for Q2 FY26:

The EBITDA margin improved to 11.1% in Q2 FY26 from 10.3% in the same quarter last year, while the PAT margin increased to 5.0% from 3.6%.

Half-Yearly Performance

For the first half of FY26, Cemindia Projects Limited continued its growth trajectory:

• Revenue from Operations grew by 7.9% to ₹4,718.00 crore
• EBITDA increased by 12.5% to ₹497.00 crore
• PAT surged by 42% to ₹245.00 crore

The EBITDA margin for H1 FY26 stood at 10.5%, up from 10.1% in H1 FY25, while the PAT margin improved to 5.2% from 3.9%.

Strong Order Book and Financial Position

As of September 30, 2025, the company's order book stood at ₹20,646.00 crore, indicating sustained business momentum. During Q2 FY26 alone, Cemindia Projects secured new orders worth ₹3,258.00 crore, bringing the total orders secured in H1 FY26 to ₹6,189.00 crore.

The company's financial position remains solid, with a consolidated Net Worth of ₹2,051.00 crore and a conservative Net Debt to Equity ratio of 0.25x as of September 30, 2025.

Key Project Updates

Cemindia Projects Limited has made significant progress on several major projects:

• Completed Mumbai's first underground metro line (~11 km, 3 stations)
• Finished twin tunnels for Chennai Underground Metro under challenging geological conditions
• Constructed a 1,400m long and 51.75m-wide jetty at JNPT in Maharashtra
• Executed a complex marine project with a 2.3 km breakwater and 800m berthing in Vizhinjam, Kerala

Credit Rating Upgrade

The company's strong financial profile and consistent operational performance have been recognized by leading credit rating agencies:

• CARE upgraded the long-term rating to CARE A+ (Stable) from CARE A (RWP)
• ICRA upgraded the long-term rating to ICRA A+ (Stable) from ICRA A (Stable)

Management Commentary

Mr. Jayanta Basu, Managing Director of Cemindia Projects Limited, commented on the results: "The Company has delivered a strong performance in the first half of the financial year ending September 2025, supported by robust project execution, healthy order inflows and disciplined financial management. Our continued focus on operational excellence and safety has enabled us to sustain momentum across key projects. With a diversified order book and sustained demand in the construction sector, we remain confident of building on this growth trajectory while reinforcing our commitment to quality, safety, and sustainability."

The company's impressive Q2 FY26 results and positive outlook underscore its strong position in the Engineering and Construction sector, with a focus on infrastructure development across various segments in India.