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.

ITD Cementation India Limited , a prominent player in the construction and infrastructure sector, has officially rebranded itself as Cemindia Projects Limited. The company recently submitted a compliance certificate to the stock exchanges, marking a significant milestone in its corporate evolution.

Rebranding Process and Compliance

The rebranding initiative involves a change in the company's name from "ITD Cementation India Limited" to "Cemindia Projects Limited." This transformation reflects the company's strategic vision and its commitment to reinforcing its identity in the Indian market.

As part of the rebranding process, Cemindia Projects Limited has taken the necessary steps to ensure compliance with regulatory requirements. The company filed a certificate from a Practicing Chartered Accountant, as mandated by Regulation 45 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance and Oversight

The compliance certificate, issued by K. M. Rege & Co., Practicing Chartered Accountants in Mumbai, confirms that the company has adhered to the conditions stipulated under Sub-Regulation (1) of Regulation 45 of the SEBI Listing Regulations. Key points from the certificate include:

1. The company has not undergone any name change in the past year, complying with the one-year time period requirement.
2. The proposed name change does not suggest any new activity, maintaining consistency with the company's existing operations.
3. There are no changes in the company's activities or projects associated with the rebranding.

Corporate Communication

Rahul Neogi, the Company Secretary of Cemindia Projects Limited, addressed a letter to the BSE Limited and the National Stock Exchange of India Limited, providing details about the name change process. The letter also acknowledged an oversight in the initial filing of the Annual General Meeting (AGM) notice, where the CA certificate was inadvertently omitted.

Impact and Future Outlook

The rebranding from ITD Cementation to Cemindia Projects signifies a new chapter for the company. While the core business activities remain unchanged, this move may reflect a renewed focus on the Indian market and a potential shift in the company's strategic direction.

Investors and stakeholders will be keen to observe how this rebranding impacts the company's market perception and future growth strategies in the competitive construction and infrastructure sector.

As Cemindia Projects Limited embarks on this new phase, the market will be watching closely to see how the company leverages its established reputation under its new corporate identity to drive growth and create value for its shareholders.