Cemindia Projects Limited (formerly known as ITD Cementation India Limited) has received a significant payment from Delhi Metro Rail Corporation (DMRC) following a favorable arbitration award. The company disclosed this development in a filing to the stock exchanges on October 18, 2025.

Key Details of the Payment

Background of the Arbitration

Cemindia Projects had initiated arbitration proceedings against DMRC for various claims. A three-member Arbitral Tribunal passed the award in favor of the company on July 22, 2025. The company had previously informed the stock exchanges about this development on July 23, 2025.

Financial Implications

The company stated that this payment will have financial implications on its income, cash flow, and tax. While the exact details of these implications were not specified, the substantial amount is likely to positively impact the company's financial position.

Additional Notes

• DMRC will pay the GST on the award amount upon production of documentary evidence by Cemindia Projects.
• The difference between the original award amount and the received payment is likely due to TDS deductions.

This development marks a successful resolution of the arbitration process for Cemindia Projects, potentially strengthening its financial position and demonstrating its ability to successfully pursue claims through legal channels when necessary.

ITD Cementation India Limited , a prominent player in the construction and infrastructure sector, has reported exceptional financial results for the first quarter, marking significant milestones in its performance.

Record-Breaking Operating Income

The company achieved its highest-ever operating income of ₹2,381.00 crores, representing a robust 30% year-on-year growth. This substantial increase in revenue underscores the company's strong market position and successful project execution.

Milestone in Profitability

In a noteworthy achievement, ITD Cementation crossed the ₹100.00 crore quarterly profit mark for the first time. The company's profit nearly doubled compared to the previous year, reflecting improved operational efficiency and project management.

Strong EBITDA Performance

The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) reached ₹237.00 crores, showing a 36% year-on-year growth. Importantly, ITD Cementation maintained a healthy EBITDA margin of around 10%, indicating strong operational performance.

Solid Financial Position

ITD Cementation reported a net debt-to-equity ratio of 0.3x, suggesting a conservative financial structure and strong balance sheet.

Key Projects Driving Growth

Several significant projects contributed to the company's impressive performance:

1. Ganga Expressway: 50-55% complete, generating over ₹600.00 crores revenue in the quarter.
2. Chennai Metro
3. Bangalore Metro
4. Marine Projects: Including the completed Udangudi project and ongoing Project Varsha.

Order Book and Future Outlook

The company has secured new orders worth ₹2,000.00 crores and expects an additional ₹2,000.00 crores as the lowest bidder (L1) in various tenders. Management has set an ambitious target of 15-25% revenue growth going forward and anticipates total order inflows of ₹10,000.00-11,000.00 crores for the year.

International Expansion

ITD Cementation is actively pursuing international opportunities, with a pipeline of overseas projects worth ₹10,000.00 crores. However, operations in Bangladesh have been temporarily suspended due to political situations, though the impact on the ₹1,500.00 crore project was minimal as mobilization had not begun.

Financial Highlights Table

ITD Cementation's record-breaking Q1 results demonstrate the company's strong execution capabilities and strategic positioning in the infrastructure sector. With a robust order book and focus on both domestic and international markets, the company appears well-positioned for continued growth in the coming quarters.