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.

Cemindia Projects , a prominent player in the Indian construction and infrastructure sector, has announced its financial results for the quarter ended September 30, 2025, showcasing significant improvement in profitability and robust order book growth.

Key Financial Highlights

Cemindia Projects has reported a robust 49% year-over-year increase in its quarterly Profit After Tax (PAT), reaching ₹108 crores compared to ₹72 crores in the same period last year. This substantial growth in profitability comes alongside a 9.3% rise in revenue, which climbed to ₹2,175 crores from ₹1,990 crores in the previous year.

Half-Year Performance

For the half-year period (H1 FY26), the company's performance remained strong:

• Revenue grew by 7.9% to ₹4,718 crores
• EBITDA increased by 12.5% to ₹497 crores
• PAT surged by 42% to ₹245 crores

Operational Performance and Order Book

The company's operational performance, as measured by EBITDA, showed significant improvement. EBITDA rose to ₹242 crores from ₹204 crores in the corresponding quarter of the previous year, marking an 18.6% increase. The EBITDA margin improved to 11.1% from 10.3% in the previous year.

Cemindia Projects secured new orders worth ₹3,258 crores during the quarter, bringing the total orders for H1 FY26 to ₹6,189 crores. As of September 30, 2025, the company's total order book stands at ₹20,646 crores, indicating a strong pipeline of future projects.

Financial Position and Credit Rating Upgrades

The company's financial position remains robust with a net worth of ₹2,051 crores and a net debt of ₹510 crores, resulting in a debt-to-equity ratio of 0.25x.

Reflecting its improved financial performance, Cemindia Projects received credit rating upgrades from two prominent agencies:

• CARE upgraded the company's rating to CARE A+ Stable
• ICRA upgraded the rating to ICRA A+ Stable

Management Changes

The Board of Directors has approved the elevation of Mr. Arnab Das to the Senior Management Personnel category, effective November 1, 2025.

Analysis

The significant jump in net profit, outpacing the growth in revenue, suggests that Cemindia Projects has implemented effective cost management strategies and potentially benefited from higher-margin projects during the quarter. The company's ability to grow its top line indicates strong demand for its services and successful project execution.

The improvement in EBITDA margin from 10.3% to 11.1% demonstrates the company's ability to enhance operational efficiency and profitability.

The robust order book of ₹20,646 crores provides visibility for future revenue growth and underscores the company's strong market position in the infrastructure sector.

As the infrastructure sector plays a crucial role in India's economic growth, Cemindia Projects' performance may be seen as a positive indicator for the industry. The company's ability to significantly improve its profitability while growing its revenue base and order book positions it well for future opportunities in the construction and infrastructure space.