Cemindia Projects Reports Strong Q2FY26 Results with 49% PAT Growth and Secures ₹3,258 Crores in New Orders

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

Metric	Q2 FY26	Q2 FY25	YoY Change
Revenue	2,175.00	1,990.00	+9.30%
EBITDA	242.00	204.00	+18.60%
EBITDA Margin	11.10%	10.30%	+80 bps
PAT	108.00	72.00	+49.00%
PAT Margin	5.00%	3.60%	+140 bps

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.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-4.28%	+1.33%	0.0%	+66.19%	+43.29%	+1,556.95%

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

Particulars	Details
Amount Received	Rs 15.05 crores (net of TDS)
Original Award Amount	Rs 15.84 crores
Payment Date	October 18, 2025
Payment Time	Approximately 2:08 PM

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.