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Cemindia Projects Q1 FY27 Share Price & Earnings Call Analysis

₹1,287.40+4.65% today
Market cap
₹22,114 Cr
P/E
36.75
ROE
27.80%
PEG
0.53
Price to sales
2.17
Debt to equity
0.42
52W high / low
₹1,640 / ₹510
Sales growth (5Y)
29.83%
EBITDA margin
10.35%
Net profit margin
5.85%
Promoter holding
67.46%
Sales (last year)
₹10,205 Cr

Cemindia Projects Ltd. is engaged in the business of providing design, engineering, procurement and construction (EPC) services for infrastructure projects in India. [1]

Guidance scorecard · Q1 FY27 call

What Cemindia Projects Ltd's management guided
and where it ranks in Construction

#18of 58 in
Construction
Revenue20–40%MarginsFlatCapexPlannedFundraisingPlannedOrder bookRising

RevenueQ1 FY27 call

20–40%
  • The company expects revenue growth of around 25% for FY '27 and FY '28.
  • Q3 and Q4 typically show better revenue compared to Q1 and Q2; a new normal quarterly revenue of around Rs. 5,000 crores is anticipated from Q3 onwards.
  • Order book growth is strong, with plans to secure over Rs. 25,000 crores in new orders this year, potentially increasing order book by 3-4x in coming years.
  • The bid pipeline stands at Rs. 90,000 crores with a 15% hit ratio, implying potential order inflows around Rs. 13,000 crores.
  • The company is confident of meeting growth targets despite lumpy quarter-to-quarter execution due to new large projects ramping up after initial mobilization periods.

2 more points from Cemindia Projects Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Cemindia Projects Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Capex guidance for the current year is around Rs. 350-400 crores, primarily for organic growth linked to normal jobs (marine, road, industrial buildings, airports, etc.).
  • Exceptional capex may be needed for specific high-cost machinery such as tunnel boring machines for large diameter tunnel projects, which significantly increase capex requirements.
  • The planned Rs. 5,000 crores QIP (Qualified Institutional Placement) is an enabling resolution intended to build capacity, including plant, machinery, and possibly inorganic growth via acquisitions for expanding capabilities or entering new segments.
  • Organic growth requires sophisticated, newer plant and machinery due to project and regulatory demands.

2 more points from Cemindia Projects Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

See what Cemindia Projects Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Rising
  • Current order book (work in hand) is approximately Rs. 31,000 crores.
  • In Q1 FY '27, new orders worth Rs. 8,519 crores were secured.
  • Additional orders of Rs. 1,247 crores were added in July.
  • Presently L1 (lowest bidder) in projects valued around Rs. 990 crores.
  • Total new orders in recent period approximately Rs. 10,756 crores.
  • Bid pipeline (opportunities at various stages) stands close to Rs. 90,000 crores, with an expected hit ratio of 15%, implying possible order inflows of roughly Rs. 13,000 crores.
  • About 50% of the bid pipeline is from the group.

2 more points from Cemindia Projects Ltd's call on the order book

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Full Q1 FY27 analysis
Full Construction ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Construction
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Cemindia Projects Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Construction companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Flat₹6,531 Cr11.7
240%+Flat₹1,089 Cr9.3
340%+Flat₹898 Cr7.6
440%+Flat₹807 Cr14.7
540%+Flat₹554 Cr13.1
640%+Flat₹516 Cr30.7

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Cemindia Projects Ltd announcements

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Financials of Cemindia Projects Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Cemindia Projects Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +1,6311,8331,6102,0172,2582,3811,9912,2702,5322,5422,1952,3152,973
Expenses +1,4911,6711,4521,8122,0372,1601,8092,0632,2772,3101,9932,0942,616
Operating Profit140162158205221221182207255233202222358
OPM %9%9%10%10%10%9%9%9%10%9%9%10%12%
Other Income +7131415221623101622412392
Interest51515258575357596250535061
Depreciation31455356544947455141434339
Profit before tax657968106130135100113157164146152350
Tax %42%34%21%26%31%26%28%23%28%16%26%27%31%
Net Profit +38525479901007287113137108111242
EPS in Rs2.203.043.124.565.215.834.195.076.607.996.276.4614.10

Financials of Cemindia Projects Ltd

Profit & Loss

Annual income statement trend

Dec 2014Dec 2015Dec 2016Dec 2017Mar 2019 15mMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +1,6522,8922,9382,0613,1702,8612,7283,8095,0917,7189,09710,061
Expenses +1,5612,7002,7261,7962,8432,5232,5153,5164,6916,9738,2299,039
Operating Profit911922122643273382132934007458681,022
OPM %6%7%7%13%10%12%8%8%8%10%10%10%
Other Income +114-10223714-104545636456177
Interest1361388988124130138142165218229215
Depreciation4337465882137100103114208192166
Profit before tax27-8599126134602094184383503818
Tax %28%-30%48%42%38%27%20%26%32%28%26%27%
Net Profit +19-59517383441669125274373598
EPS in Rs1.25-3.823.284.694.772.510.924.017.2315.9321.7034.79
Dividend Payout %0%0%9%9%8%12%13%11%10%11%9%0%

Financials of Cemindia Projects Ltd

Balance Sheet

Capital structure and asset base

Dec 2014Dec 2015Dec 2016Dec 2017Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital161616161717171717171717
Reserves5524935366021,0041,0351,0491,1141,2201,4771,8162,382
Borrowings +765601356489532539458560766889961905
Other Liabilities +8621,3369731,2821,0441,5331,6691,9253,0133,5343,7103,782
Total Liabilities2,1952,4451,8812,3882,5973,1253,1923,6165,0175,9176,5057,086
Fixed Assets +3353493854625296246016558471,0811,0741,168
CWIP3363875532117102122
Investments00111255194113455420
Other Assets +1,8562,0931,4891,8872,0602,2412,3442,8474,0074,8215,3675,897
Total Assets2,1952,4451,8812,3882,5973,1253,1923,6165,0175,9176,5057,086

Financials of Cemindia Projects Ltd

Cash Flows

Operating, investing and financing cash movement

Dec 2014Dec 2015Dec 2016Dec 2017Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +4446532668-134447191339471704203500
Cash from Investing Activity +-38-104-20-157-133-87-51-25-438-419-245-149
Cash from Financing Activity +-4-302-22240244-212-250-5628-123-209-243
Net Cash Flow15983-49-24147-11025861162-251108
Free Cash Flow-2419231-103-259354802446936930274
CFO/OP41%256%170%24%-24%145%100%136%143%105%36%65%

Financials of Cemindia Projects Ltd

Ratios

Working capital efficiency and return ratios

Dec 2014Dec 2015Dec 2016Dec 2017Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days913927425075716077576447
Inventory Days64153061927599144118119867382
Days Payable236340340363171225311276275179202238
Cash Conversion Cycle496229-252-229-45-51-96-99-78-36-64-110
Working Capital Days8-34-36-3832-212-19-35-26-36
ROCE %5%14%19%24%20%15%10%14%19%27%28%34%

Guidance history

How Cemindia Projects Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%FlatPlannedPlannedRising
Q1 FY27 call →20–40%FlatPlannedPlannedRising
Q4 FY26 call →20–40%FlatPlannedNone plannedRising
Q3 FY26 call →10–20%FlatPlanned—Rising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

41out of 100

Momentum score · price trend

41 out of 100 — Steady

Over the past year its share price has moved roughly in the middle of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+52.1%86%
Last 6 months+57.9%90%
Last 3 months−5.2%53%

The price is 21.5% below its all-time high of ₹1,639.6 (21 Jul 2026). Stocks more than 20% below their peak have their score halved, so 81 became 41.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Cemindia Projects Ltd: 0.4 × 86 + 0.4 × 90 + 0.2 × 53 = 81, halved to 41 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Cemindia Projects Ltd's management said in earlier quarters

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