Cemindia Projects Limited
3,316words
1turns
0analyst exchanges
0executives
Key numbers — 40 extracted
rs,
17%
66%
15.1%
10.7%
114%
4.5%
8.1%
₹ 5,144 crore
9%
28%
11.9%
Risks & concerns — 1 flagged
order book with ensures multi year cash flow visibility Geographic diversification: Presence across 16 states and active in Bangladesh, Sri Lanka & UAE Client base mix: Government (~36%), PSU (~6%), Private (~58%), reducing client concentration risk Cemindia’s 9 decade of expertise & proven execution track record position it as a reliable partner for delivering complex projects with speed & 9 Decades of Infra.
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Opening remarks
Key Rating Upgrade highlights
Rating Track Record Rating Agency March 2019 March 2025 March 2026 6 years A (Stable) A (RWP*) A+ (Stable) A (Stable) A (Stable) A+ (Stable) *RWP – Rating Watch with Positive implications Rating upgraded to A+ by CARE and ICRA Significant ramp-up of operations reflecting revenue CAGR of ~30% in last 6 years scale in Strong diversified orderbook provides medium term revenue visibility Favorable change in ownership to aid in growth synergies and strong financial flexibility Demonstrated track record in project execution 1200 1000 800 600 400 200 0 1.27 341 432 FY19 0.78 287 224 FY20 1.09 258 282 FY21 Net Debt to EBITDA 338 0.38 130 FY22 0.60 463 278 FY23 939 0.57 539 1,199 430 0.36 FY25 FY26 809 0.31 253 FY24 Net Debt (₹ crore) EBITDA (₹ crore) Net Debt to EBITDA (x) Cr: Crores | EBITDA: Earning before Interest, Tax, Depreciation & Amortization 1.40 1.20 1.00 0.80 0.60 0.40 0.20 0.00 20 India’s Decade: Infrastructure Megatrend driving massive capex cycle Capex Allocation under Un
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