Cemindia Projects (509496) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 revenue rose 6% year-over-year to ₹2,721 crores, with EBITDA up 9% to ₹285 crores and PAT up 3% to ₹141 crores.

• Order inflow exceeded ₹8,500 crores in Q1, expanding the order book to a record ₹31,307 crores as of June 30, 2026.

• Major project wins include metro jobs in Pune and Delhi, steel fabrication in Burnpur, and a reservoir project in Rajasthan.

• The company is focusing on digital transformation, technology adoption, and AI to enhance project execution.

• Diversified project portfolio spans 16 Indian states and 3 overseas locations, with 80+ projects in 8 sectors.

Financial highlights

• EBITDA margin improved to 10.5% from 10.1% year-over-year.

• PAT margin stood at 5.2%.

• Net debt as of June 30, 2026, was ₹700 crores; net debt-to-equity ratio was 0.28x.

• Net worth reached ₹2,492 crores as of June 30, 2026.

• Trade receivables were at 69 days, and net working capital at 120 days.

Outlook and guidance

• Revenue growth guidance maintained at 25% for FY27 and FY28.

• Robust order book and execution capabilities provide multi-year revenue visibility.

• Order inflow target for FY27 is ₹25,000 crores, with ₹8,000 crores already secured in Q1.

• Execution ramp-up expected in Q3 and Q4 as new projects mobilize.

• Bid pipeline stands at ₹90,000 crores, with a 15% hit ratio expected.