CP

Cemindia Projects Ltd

Q2 FY26

Cemindia Projects Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹1,198

Market cap₹20.6K Cr

P/E34.2

Updated16 Oct 2026

Read3 min read

The short version

Cemindia Projects Limited targets a revenue growth of around 20-22% for FY '26. Revenue growth target for FY '26 is around 20%-22% (Page 4).

From Cemindia Projects Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

Cemindia Projects Limited targets a revenue growth of around 20-22% for FY '26.
The company reported a first-half turnover of approximately INR4,718 crores, with second half historically stronger, implying a full-year revenue of around INR11,000 crores.
Execution is expected to accelerate, with potential to double revenues in less than 3 years given current order books and pipelines.
Opportunities are significant across multiple verticals including data centers, ports, airports, large diameter tunnels, and marine projects.
Data center vertical holds an order book of approximately INR1,500 crores with growth potential.

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Profitability & Margins

Revenue growth target for FY '26 is around 20%-22% (Page 4).
Management expects to double revenues in less than 3 years based on order book and execution timelines (Page 13).
EBITDA margins are targeted around 10%-11%, with PAT close to 4% (Page 13).
PBT of 6% achieved recently is considered satisfactory with efforts to maintain or improve margins within competitive market constraints (Page 13).
Execution is improving, and second half revenues typically are stronger than first half, supporting growth outlook (Page 13).

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Capital Expenditure Plans

Capex spent so far is around INR 58-60 crores in Q2.
Expected full-year capex target is close to INR 250-300 crores.
The capex may vary depending on new requirements for large equipment, especially for new verticals like large TBMs.

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Fundraising & Capital Structure

There is no explicit mention of any planned new fundraising through debt or equity in the call.
Jayanta Basu indicated that working capital requirements will scale proportionately with revenue and that advances from customers will be pursued to finance new jobs.
The finance team is prepared to arrange additional funding if needed, but there is no current concern about working capital constraints.

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Order Book & Pipeline

Current order book stands close to INR9,700 crores.
In H1 FY '26, secured orders of around INR6,189 crores.
Post September 2025, new orders won are close to INR1,000 crores.
Including L1 positions (~INR3,500 crores), practical total order value for the year is around INR10,000+ crores.
The company expects strong order inflow in H2 and anticipates the full-year order intake to be INR15,000 to INR16,000 crores or more.
Major order inflows in port, airport, metro, power plant, and data center sectors.
About 25-26% of the order book is from Adani Group companies.

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Cemindia Projects Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹3.0K Cr, net profit ₹242 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Cemindia Projects Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Cemindia Projects Ltd Q2 FY26 results?

Cemindia Projects Limited targets a revenue growth of around 20-22% for FY '26. Revenue growth target for FY '26 is around 20%-22% (Page 4).

What is Cemindia Projects Ltd share price analysis?

Cemindia Projects Ltd currently shows a neutral. The stock trades at a P/E of 34.2 with a market cap of ₹20,575 Cr. Investors should review the full earnings analysis for detailed insights.

Is Cemindia Projects Ltd planning capital expenditure?

Capex spent so far is around INR 58-60 crores in Q2.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.