ITD Cementation stock races 9% after stellar Q1 results; up 174% in a year

In the last one year, ITD Cementation stock has delivered handsome returns of around 174 percent, nearly tripling investors' money.

Shares of ITD Cementation India zoomed over 9 percent after the company reported a 92 percent on-year surge in its net profit at Rs 100 crore for the quarter ended June 2024, beating analysts' estimates. Its revenue grew by 30 percent YoY to Rs 2,381 crore.

ITD Cementation India is an engineering and construction company with expertise in heavy civil and EPC projects.

The company has a presence in maritime structures, mass rapid transit systems, airports, hydroelectric power, tunnels, dams & irrigation, highways, bridges & flyovers, industrial structures and buildings, foundation & specialist engineering.

ITD Cementation's consolidated order book remained strong at Rs 18,536 crore as of June 30. The company secured orders worth over Rs 1,053 crore during the quarter. It is conservatively financed with a net debt-to-equity ratio of 0.30x, the firm said in its regulatory filing.

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Its EBITDA or earnings before interest and tax depreciation and amortisation for Q1FY25 grew 36.4 percent YoY to Rs 221 crore, and its EBITDA margin expanded to 9.3 percent.

At 9:33 am, ITD Cementation shares were trading 8 percent higher at Rs 521.60 on the National Stock Exchange (NSE). So far this year, the stock has rallied around 80 percent, massively outperforming benchmark Nifty 50 which gained over 11 percent during this period.

In the last one year, the multi-bagger has delivered handsome returns of around 174 percent, nearly tripling investors' money.

In the June 2024 quarter, ITD Cementation's promoter holding remained unchanged at 46.6 percent. Foreign Institutional Investors (FIIs) and Foreign Portfolio Investors (FPIs) increased their holdings from 17 percent to 20 percent while mutual funds raised their holdings from 1.2 percent to 1.6 percent.

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