This smallcap infra stock zooms 50% thus far in May; hits record high

ITD Cementation India hit a record high of ₹725.90, surging 9.4% on the BSE in Monday's intra-day trade; surpassing its previous high of ₹694.45 touched on October 4, 2024.

Share price of ITD Cementation India

 

Shares of ITD Cementation India hit a  record high of ₹725.90, surging 9.4 per cent on the BSE in Monday’s intra-day trade on healthy business outlook. The stock price of this smallcap infrastructure company surpassed its previous high of ₹694.45 touched on October 4, 2024.

 

In the past two weeks, the ITD Cementation India stock has rallied 34 per cent after the company reported strong earnings for the quarter ended March 2025 (Q4FY25). Thus far in the month of May 2025, ITD Cementation’s market price has appreciated by 50 per cent.

 

At 02:20 PM, ITC Cementation was trading 9 per cent higher at ₹723.50, as compared to 0.5 per cent rise in the BSE Sensex.  A combined 2.05 million equity shares changed hands on the NSE and BSE.  READ LATEST STOCK MARKET UPDATES TODAY LIVE 

 

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ITD Cementation - Q4 results, order wins

 

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 ₹114 crore. Earnings before interest, taxes, depreciation and amortisation (Ebitda) grew 11 per cent YoY at ₹268 crore. Total operating income increased 10 per cent YoY at ₹2,480 crore.

 

On May 13, the company announced that it secured a contract worth ~₹593 crore for the construction of various infrastructure works at Jaipur International Airport in Rajasthan.

 

As of March 31, 2025, ITD Cementation’s consolidated order book stood at ₹18,300 crore. The company secured orders worth over ₹7,100 crore in FY25.

 

Healthy business outlook

 

The increased thrust from the government towards the infrastructure industry, through a rise in the capital budget allocation, is likely to help with further order inflows for the company. Management is confident about revenue growth, order inflow, and gradual improvement in margins.

 

The company’s management in the Q4 & FY25 earnings conference call said the growth path will continue to, at this rate, around 20 per cent to 25 per cent YoY basis because there is a huge opportunity available in front of the company today.  ALSO READ | JSW Steel shares rise as SC orders status quo on Bhushan Power liquidation

 

It's close to ₹90,000 crore job the company will be able to handle through tenders now. And they are largely for marine and underground metros and the airports and underground railway tunnel, road tunnels, some bridges and some buildings and industrial structures, the management said.

 

For the financial year 2025-26 (FY26), the management expects the top line to grow by 25 per cent and in the same way in the bottom line as well, and gradual improvement in EBITDA margins.

 

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.  ALSO READ | RateGain Travel share pops 6% on healthy Q4 results; check key numbers here

 

About ITD Cementation India

 

ITD Cementation has a diversified portfolio across all verticals with expertise for disciplined project execution. It has established itself as a leading name in the construction of offshore maritime structures, ports, mass rapid transit systems, including elevated corridors and underground metro stations, buildings and tunnels, industrial structures, including airport terminal buildings and technological buildings, hydroelectric power plants with dams, irrigation projects, and micro tunneling works within cities, foundation and specialist engineering with reclamation and ground improvement.