ITD Cementation hits 52-week high on bagging contract worth Rs 1082 cr

Shares of civil construction firm ITD Cementation India soared up to 3.66 per cent at Rs 537 per share, hitting its 52-week high on the BSE in Thursday’s intraday trade. The share had hit a 52-week high of Rs 160.55 on July 3, 2023.

The recent price surge however came after the company on Wednesday announced that it has secured a Rs 1,082 crore marine contract for constructing the Third Berth (Jetty) at Dahej LNG terminal in Gujarat, along with specified additional works.

“ITD Cementation India Limited has secured a marine contract for constructing Third Berth (Jetty) and specified additional works at Dahej LNG terminal in the state of Gujarat worth approximately Rs 1,082 crore including taxes and duties,” the company said in an exchange filing on Wednesday. 

 

ITD Cementation India Ltd reported a strong increase in its revenue and net profits for the fourth quarter of 2023-2024 compared to the same period last year. The company's revenue surged by 39.09 per cent to Rs 2,279.32 crore. Quarterly, there was a 12.16 per cent growth in revenue. 

Similarly, net profit saw a rise of 136.86 per cent to Rs 89.51 crore annually, with a 14.19 per cent quarterly increase. Net profit margins also improved to 3.93 per cent year-on-year, and showed a 1.81 per cent increase on a quarterly basis.

At 12:05 PM; the shares of the company were trading 4.09 per cent lower at Rs 219.10 per share on the BSE. By comparison the BSE Sensex was up by 0.40 per cent at 78,991 per share. 

The share price is trading at a price to earnings valuation of 32.51 and an earnings per share of Rs 15.93. 

ITD Cementation India specialises in constructing a range of infrastructure projects including marine structures, mass rapid transit systems, tunnels, power plants, hydro dams, irrigation facilities, water and wastewater projects, ports and airports, highways, and bridges and flyovers.