This multibagger Adani Group stock hits record high on new order win worth ₹580 crore
ITD Cementation India revealed on Friday, June 27, that it has been awarded a high-value international marine contract for the Ruwais LNG project in Abu Dhabi. The $67.4 million project involves jetty construction and is a part of the company's routine business operations. While this marks a major international win, the company has also been steadily building its domestic order book.
Just last week, ITD Cementation bagged two major domestic projects worth a combined ₹ 960 crore, excluding GST. One of the contracts pertains to construction activities at Trivandrum International Airport in Kerala. The other project is the construction of a multi-storeyed commercial building in Kolkata, West Bengal. Though the company did not disclose client names or execution timelines, the announcements highlight its growing presence in both domestic and international markets.
The back-to-back order wins reinforce the company's strong positioning in the infrastructure and construction segment, supported by a well-diversified portfolio that spans airports, marine works, buildings, and metros.
For the quarter ended March 31, ITD Cementation India reported a 27 percent year-on-year rise in consolidated net profit to ₹ 113.6 crore. Revenue grew by nearly 10 percent YoY to ₹ 2,478.7 crore, driven by healthy execution across key projects. Operating profit increased 18 percent to ₹ 259.6 crore, while operating margins improved to 10.5 percent from 9.8 percent in the same quarter last year.
The board also recommended a dividend of ₹ 2 per equity share for FY25, maintaining its commitment to shareholder returns.
From a market standpoint, the company has been a remarkable performer. With today's surge, the stock has rallied over 111 percent from its 52-week low of ₹ 445.60, recorded in July 2024. Over the past year, the stock has gained nearly 69 percent. It rose more than 29 percent in June alone, following a 46.6 percent surge in May. Although it saw a 12.5 percent dip in April, the broader trajectory remains bullish. Over a five-year period, the stock has delivered multibagger returns of 1,505 percent to shareholders.
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Time of India
16 hours ago
- Time of India
Bangladesh resolves Adani's power purchase pact, payment concerns
New Delhi: Bangladesh made its single largest payment of $437 million in June, clearing pending dues, including carrying costs, and issues related to the power purchase agreement , reaffirming the Indian conglomerate's asset as a reliable and cost-competitive power source for meeting the country's growing energy needs, sources said. Bangladesh is now regular in payments. Additionally, an LC (Letter of Credit) worth about two months of billing and sovereign guarantee for all dues as additional security has been established, sources aware of the matter said. Since payment-related matters are resolved, Bangladesh has asked Adani Power to supply power from both units as per BPDB ( Bangladesh Power Development Board ) schedule, they added. Sources said Bangladesh has resolved Adani Power's dues, including the carrying cost. Over the last 3-4 months, the country has been paying $90-100 million per month, and in June, it paid $437 million. The LCs are worth about two months of billing and sovereign guarantee for all dues, as additional security has put Adani in a very comfortable situation. Concerns raised related to investigations into the PPA by the Bangladesh authorities have been resolved, with no adverse aspects found. With all these developments, lenders are confident of improving APL's credit rating to AA+ from the current AA. Adani Power supplies electricity to Bangladesh from a dedicated 1600 MW plant located in Godda district of Jharkhand, meeting 10 per cent of the country's power demand. The company supplies among the most competitively priced power to Bangladesh, as is evident from BPDB's merit order dispatch data, which is an essential requirement. Bangladesh had in the past struggled to meet its payment obligations under the 2017 deal, as rising import costs -- following the Russia-Ukraine conflict in 2022 and domestic political turmoil, which led to the ouster of the prime minister -- strained the country's finances. As a result, Adani halved its supply last year, and full supplies were resumed in March 2025 after the country's monthly payments started covering some of the dues. Sources said over the last three to four months, Bangladesh had started paying $90-100 million per month, and in June, the company received the single largest chunk of payment of $437 million, thereby clearing all dues. Adani Power's Godda unit was housed under a separate subsidiary, which has now been merged with the parent, providing greater operational and financial synergy. With all these developments, lenders are confident of improving Adani Power's credit rating to AA+ from the current AA, which will further bring down its cost of funds. The current developments vindicate the contract established between the Bangladesh government and Adani Power. The Godda asset is now well integrated into the Bangladesh Power system successfully. Under the 2017 deal, Adani Power's Godda power plant in Jharkhand was to supply 100 per cent of the electricity generated from burning coal to Bangladesh for a period of 25 years. After payment defaults, Adani had cut supplies by half in November 2024. It restored full electricity supply, which is around 1,600 MW, in March after the country reduced its liabilities. Bangladesh stepped up repayments from July last year, clearing monthly dues. The development comes after the country suffered from increased power shortages in rural areas. It has been struggling to generate sufficient dollar revenues to cover the cost of essential imports like electricity, coal, and oil. Its foreign currency reserves declined amid months of student-led protests and political unrest, which culminated in the ousting of the Sheikh Hasina government in August 2024. The interim government that succeeded her sought an additional $3 billion loan from the International Monetary Fund (IMF), on top of the existing $4.7 billion bailout package. Adani's power deal with Bangladesh was one of many under Sheikh Hasina, which the current interim government has called opaque. Besides Adani Power, other Indian state-owned firms also sell power to Bangladesh, including NTPC Ltd and PTC India Ltd. PTI
Mint
2 days ago
- Mint
This multibagger Adani Group stock hits record high on new order win worth ₹580 crore
Shares of multibagger ITD Cementation India Ltd surged nearly 6 percent on Monday, June 30, hitting a record high of ₹ 941.75 after the company announced a significant international contract win. The Adani Group-backed construction firm secured a marine infrastructure project worth $67.4 million (approximately ₹ 580 crore) for jetty construction works in Abu Dhabi, boosting investor sentiment. The stock's remarkable rally reflects growing investor confidence in the company's expanding order book and operational strength. ITD Cementation India revealed on Friday, June 27, that it has been awarded a high-value international marine contract for the Ruwais LNG project in Abu Dhabi. The $67.4 million project involves jetty construction and is a part of the company's routine business operations. While this marks a major international win, the company has also been steadily building its domestic order book. Just last week, ITD Cementation bagged two major domestic projects worth a combined ₹ 960 crore, excluding GST. One of the contracts pertains to construction activities at Trivandrum International Airport in Kerala. The other project is the construction of a multi-storeyed commercial building in Kolkata, West Bengal. Though the company did not disclose client names or execution timelines, the announcements highlight its growing presence in both domestic and international markets. The back-to-back order wins reinforce the company's strong positioning in the infrastructure and construction segment, supported by a well-diversified portfolio that spans airports, marine works, buildings, and metros. For the quarter ended March 31, ITD Cementation India reported a 27 percent year-on-year rise in consolidated net profit to ₹ 113.6 crore. Revenue grew by nearly 10 percent YoY to ₹ 2,478.7 crore, driven by healthy execution across key projects. Operating profit increased 18 percent to ₹ 259.6 crore, while operating margins improved to 10.5 percent from 9.8 percent in the same quarter last year. The board also recommended a dividend of ₹ 2 per equity share for FY25, maintaining its commitment to shareholder returns. From a market standpoint, the company has been a remarkable performer. With today's surge, the stock has rallied over 111 percent from its 52-week low of ₹ 445.60, recorded in July 2024. Over the past year, the stock has gained nearly 69 percent. It rose more than 29 percent in June alone, following a 46.6 percent surge in May. Although it saw a 12.5 percent dip in April, the broader trajectory remains bullish. Over a five-year period, the stock has delivered multibagger returns of 1,505 percent to shareholders.
Time of India
2 days ago
- Time of India
ITD Cementation Stock Soars 4% Following $67.4 Million LNG Project Win, ET Infra
Advt ITD Cementation share price performance Shares of ITD Cementation India rallied 4.4 per cent to an intraday high of ₹929 on the BSE on Monday, June 30, following the announcement of a significant international marine contract worth $67.4 million (approximately ₹580 crore).The contract has been awarded for jetty construction works for the Ruwais LNG project in Abu Dhabi 'This is to inform you that ITD Cementation India Limited has secured International Marine Contract worth $67.4 Million (₹580 Crore),' the company informed via a regulatory filing to the stock its stock exchange filing, ITD Cementation stated that the agreement falls within the ordinary course of business for the company. The company confirmed that the new order pertains to the construction of marine infrastructure and reinforces its position in the international engineering and construction Cementation India, a well-established engineering and construction company, has been operating in India for nearly nine decades. The firm undertakes a broad range of projects in heavy civil, infrastructure, and EPC holds established expertise in maritime structures, mass rapid transit systems, hydro-electric power, tunnels, dams, irrigation, highways, bridges, flyovers, industrial structures, and buildings. The company also engages in water and wastewater management and specialist foundation the past one year, the shares of ITD Cementation have delivered a return of 71.14 per cent, while the year-to-date (YTD) gain stands at 63.98 per cent. In the last six months, the stock has risen by 67.17 per cent, and over the past three months, it has advanced 60.26 per cent. For the one-month period, the stock has posted a gain of 22.26 per shares of ITD Cementation closed 1.4 per cent higher at ₹889.50 on the BSE on Friday.
