Cemindia Projects (509496) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 revenue reached INR 2,245 crore, up 11% year-over-year, with nine-month revenue at INR 6,617 crore, up 21% year-over-year.

• Q3 FY25 EBITDA was INR 214 crore and PAT was INR 87 crore, both up 11% year-over-year; nine-month EBITDA at INR 655 crore and PAT at INR 259 crore, up 41% year-over-year.

• Orderbook as of December 31, 2024, stood at INR 19,893 crore, with INR 6,370 crore in new orders secured in FY25.

• Major new orders include Vadhvan Port and IKEA projects, each valued at INR 1,600–1,700 crore, and a multistoried commercial building in Uttar Pradesh.

• Achieved strong revenue and profit growth, supported by a diversified order book across multiple infrastructure sectors and expanded presence in India and neighboring countries.

Financial highlights

• Q3 FY25 revenue: INR 2,245 crore (11% YoY growth); nine-month revenue: INR 6,617 crore (21% YoY growth).

• Q3 EBITDA: INR 214 crore; Q3 PAT: INR 87 crore (11% YoY growth); nine-month EBITDA: INR 655 crore; nine-month PAT: INR 259 crore (41% YoY growth).

• Net debt to equity ratio at 0.43x, indicating low leverage.

• Gross debt reduced to INR 409 crore as of Dec'24, with net worth at INR 1,242 crore.

• EPS for Q3 FY25: INR 5.07; 9M FY25: INR 15.09.

Outlook and guidance

• FY25 order inflow guidance at INR 9,000 crore, with current L1 status and pipeline supporting confidence in achieving this.

• FY26 order inflow expected at INR 12,000–13,000 crore.

• Revenue for FY25 expected to be close to INR 10,000 crore.

• EBITDA margin expected to remain stable around 9.5–10%.

• Orderbook of INR 19,893 crore as of Dec'24 provides strong revenue visibility.