 "Adani Group's acquisition of a controlling stake in ITD Cementation India through a Rs 3,204 crore deal marks the conglomerate's entry into the engineering and construction (EPC) sector. With this purchase, the group aims to leverage its capital expe")
Share price of ITD Cementation India: Shares of ITD Cementation India hit an over six-month high of Rs 644.95, as they rallied 14 per cent on the BSE in Wednesday’s intra-day trade amid heavy volumes after it reported strong earnings for the quarter ended March 2025 (Q4FY25). The company has announced that it secured a contract worth ~Rs 593 crore for the construction of various infrastructure works at Jaipur International Airport in Rajasthan.
At 01:26 PM, ITC Cementation was trading 8 per cent higher at Rs 611.70, as compared to 0.18 per cent gain in the BSE Sensex. The stock hit a record high of Rs 694.45 on October 4, 2024. The average trading volume on the counter jumped nearly 10-fold. As many as 6.1 million equity shares, representing 3.5 per cent of the total equity of the company, have changed hands on the NSE and BSE.
Q4 results, order book position
In the January to March quarter (Q4FY25), ITD Cementation reported a 27 per cent year-on-year (YoY) jump in consolidated profit after tax at Rs 114 crore. Earnings before interest, taxes, depreciation and amortisation (Ebitda) grew 11 per cent at Rs 268 crore. Total operating income increased 10 per cent YoY at Rs 2,480 crore.
As of March 31, 2025, ITD Cementation’s consolidated order book stood at Rs 18,300 crore. The company secured orders worth over Rs 7,100 crore in FY25.
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Renew Exim, an Adani entity, completes open offer
Renew Exim, an Adani entity, successfully completed the open offer as a precursor to the acquisition of ITD Cementation. The open offer witnessed tender of 20.83 per cent ITD Cementation shares for which the Company has made the full payment. The remaining formalities are being completed to conclude the acquisition of the stake from existing promoters pursuant to share purchase agreement dated October 25, 2024. With the conclusion of the transactions as above, Renew Exim shall hold 67.46 per cent of ITD Cementation.
This acquisition marks a significant milestone as it enhances the overall project execution capabilities of the Adani Group and strategically positions Adani portfolio companies to capitalise on the burgeoning opportunities in the country's booming infrastructure sector, Adani Group said in a press release.
A group of International investors including BlackRock participated in a new bond issuance to support the acquisition of ITD Cementation by Renew Exim.
About ITD Cementation India
ITD Cementation India is one of the leading Engineering and Construction Companies undertaking Heavy Civil, Infrastructure and EPC business and operating in India for nine decades with an established presence and expertise in Maritime Structures, Mass Rapid Transit Systems, Airports, Hydro-Electric Power, Tunnels, Dams & Irrigation, Highways, Bridges & Flyovers, Industrial Structures and Buildings, Foundation & Specialist Engineering.
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